INSEAD Day 4 - 728x90

Borouge okays $656m dividend

The company said dividend reflects its resilience

DEWA posts record H1 profit

Revenue reaches record $4.04 billion.

Tabreed H1 revenue $308m

Blurb: Profit reaches $52 million in H1

ADNOC L&S to expand fleet

It will acquire 11 carriers for $1.3bn.

Empower profit climbs 16%

Dubai district cooling demand lifts earnings

Rare Abbas meeting with Gantz ahead of Biden visit to region

Israeli Defence Minister Benny Gantz and Palestinian president Mahmud Abbas held talks in Ramallah to prepare for US President Joe...
  • Abbas and Gantz, a former army chief of staff who heads the centrist Blue and White party, earlier met in December in Israel
  • Biden is due to visit Israel and the occupied West Bank from July 13 to 15, and will hold talks with new Israeli Prime Minister Lapid and Abbas

Biden to meet Saudi Crown Prince during his visit next week: White House

Biden is expected to press for increased Saudi oil production in the hope of taming spiraling fuel costs and inflation...
  • Biden is expected to press for increased Saudi oil production in the hope of taming spiraling fuel costs and inflation at home
  • The White House emphasized Biden will address "greater collaboration" in the Middle East region on issues such as air defense

British Airways staff halts strike after better pay offer

A strike by British Airways staff at London Heathrow Airport this summer has been called off after an improved pay...
  • Members of the GMB and Unite unions recently backed action as surging inflation erodes the purchase power of wages.
  • Unions had previously threatened a "summer of strikes" after last month's vote, but had not given any precise dates.

European Union warns of worst Palestinian displacement in ‘decades’

An EU envoy warned Thursday over the possible mass displacement of Palestinians from a West Bank area at the centre...
  • About 27 buildings have been demolished in Masafer Yatta in West Bank, where Israeli SC ruled that its 1,000 residents 'failed to prove" their claim of permanent residents.
  • In the early 1980s the army declared the 3,000-hectare (30 square kilometre) territory a restricted military area and claimed it was uninhabited.

Record exports help US trade deficit reach its lowest in 2022

The US trade deficit with China declined again, falling $2.8 billion to $32.2 billion in May, on another big drop...
  • Surge in oil sales, natural gas and consumer goods pushed American exports up by $3 billion to $255.9 billion.
  • Multiple export categories set records, including industrial supplies, autos and parts, and also petroleum.

Boris Johnson steps down as Conservative Party leader

Johnson announced that he would step down after a slew of resignations from his top team in protest at his...
  • The leadership election will take place over the summer and the victor will replace Johnson by the party's annual conference in early October, the BBC and others reported.
  • Defence minister Ben Wallace and Rishi Sunak, whose departure as finance minister on Tuesday sparked the exodus, were among the early frontrunners to succeed Johnson.

Women upbeat over guardian-free Hajj

This year's Hajj, the first large-scale edition since the guardian requirement was dropped in 2021, has taken on a different...
  • Many of them have abandoned the black robes traditionally preferred by hajj organisers, adding a dash of colour with reds, greens, oranges and blues dotted around the crowds.
  • The decision to drop the "mehrem" is part of the social reforms rolled out by Crown Prince Mohammed bin Salman, who is trying to shake off the kingdom's austere image.

Oil prices drop below $100 on recession worries

Recession worries pushed the price of Brent oil briefly back under $100 on Wednesday, and the euro moved closer to...
  • Europe's benchmark crude oil contract, Brent North Sea, fell briefly under $100 per barrel in afternoon deals
  • Citi analysts have forecast that Brent could strike $65 later this year in the event of a prolonged worldwide economic downturn

TotalEnergies of France pulls out of Russian oil project

Russian oil firm Zarubezhneft will take over its remaining 20 percent stake in the Kharyaga project in the Arctic pending...
  • It has promised to stop purchasing Russian oil and gas by the end of the year, and make no further investments there
  • TotalEnergies had already ceded a 20 percent stake in the project and the role of operator to Zarubezhneft

Tunisian street vendor serves success despite bureaucracy

Habib Hlila, 27, first set up a food van in the working-class Bab El Khadra district of Tunis in early...
  • Habib Hlila, 27, first set up a food van in the working-class Bab El Khadra district of Tunis in early April, selling sandwiches at the end of each day's fast
  • He quickly became a star of Tunisian street food, gaining a social media following as he used banter and theatrics to prepare his signature "El-Bey" sandwiches

Israel’s Bedouin communities use solar energy to stake claim to land

Tirabin al-Sana in Israel's Negev desert is the home of the Tirabin (also spelled Tarabin) Bedouin tribe, who signed a...

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Europe’s largest art fair reports ‘record’ prices for Van Gogh, Picasso

THE HAGUE, NETHERLANDS – Europe's largest art fair closed its doors on Friday with organizers saying that sales, including a rare...

European Union to sanction violent Israeli settlers and Hamas

Britain and the United States have already imposed sanctions on a small number of Israeli settlers accused of committing human...

Nervous system disorders surpass heart ailments as top cause of illness

Paris, France - Conditions affecting the nervous system -- such as strokes, migraines and dementia -- have surged past heart disease...
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Eyes on Bank of Japan as unions announce big wage hikes

Tokyo, Japan -- Japan's largest trade union said Friday it had secured the highest wage hikes since 1991 in preliminary data...
  • The Rengo union said that in spring wage talks so far, its members had secured pay rises of nearly 5.3% on average, compared with 3.8% at this point last year.
  • Wage growth has been sluggish in Japan for decades, and the government partly blames this for the economy's woes.

Vodafone sells Italian unit to Swisscom

British telecoms giant sold the business for US$8.7 billion.
  • Vodafone has been on a cost-cutting campaign that has included layoffs and the offloading of divisions abroad
  • Its CEO said the deal with Swisscom marked the "third and final step in the reshaping of our European operations"

Nissan, Honda in tie-up for EVs

The alliance will take on China's dominant EV makers.
  • The MoU could include cooperation on a common EV powertrain and joint procurement of batteries and other components
  • The firms announced a joint news conference at 3:30 pm (0630 GMT) in Tokyo without giving further details at this point in time