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

Morocco ban passengers on Covid-hit liner

Morocco has refused entry to passengers on a German cruise liner after some tested positive for Covid-19, Moroccan media reported...
  • Morocco on Tuesday raised its alert level for Covid-19 from green to orange after recorded cases spiked in several major cities
  • Last month, Morocco had scrapped Covid rules that ask incoming travelers to present a negative PCR test

Sufi dervishes of Egypt keep alive old tradition

In a 500-year-old stone theatre in the Egyptian capital, two young dervishes spin ceaselessly. Slowly, then all at once, they...
  • The kaleidoscopic performance is a world away from whirling dervishes of Turkey, who trace their origins to the teachings of Sufi poet and mystic Jalal al-Din Rumi
  • Though the Egyptian version of the art has become a festive occasion, most practitioners hold to the roots of the ritual in the mystical tradition of the Muslim Mevlevi Order

Algeria breaks off treaty with Spain over W.Sahara dispute

Algeria said Wednesday it was suspending a decades-old co-operation treaty with Spain, after Madrid backed the position of the North...
  • Madrid and Algiers had signed the deal in 2002 to promote dialogue and cooperation on political, economic, financial, education and defense issues
  • Algeria's move came in retaliation after Spain in March publicly recognized Morocco's autonomy plan for the disputed territory

Western powers call on Iran to cooperate with IAEA

The US, Britain, France and Germany on Wednesday urged Iran "to fulfill its legal obligations, and cooperate with the IAEA",...
  • The foreign ministries of the four Western nations issued a joint statement welcoming the IAEA's resolution "responding to Iran's insufficient cooperation with the IAEA
  • The motion brought by the United States, Britain, France and Germany - but voted against by Russia and China -- is the first to criticize Iran since June 2020

With inflation on rise, ECB readies tougher action

The European Central Bank is set to announce the end date to its bond-buying stimulus on Thursday, as concerns over...
  • Inflation in the eurozone rose to 8.1 percent in May, the highest level in the history of the currency club and well above the ECB's own two-percent target
  • The surge has largely been driven by the war in Ukraine, which has decisively pushed up the cost of energy, food and raw materials

Twitter agrees to share data with Musk to end standoff

Twitter will yield to Elon Musk's demand for internal data central to a standoff over his troubled $44 billion bid...
  • Twitter chief executive Parag Agrawal has said that fewer than five percent of accounts active on any given day at Twitter are bots
  • The mercurial Musk agreed to buy Twitter in a $44 billion deal in late April

Iran disconnects cameras at nuclear sites as IAEA set for censure vote

IAEA head Rafael Grossi told reporters on Monday that it would be "a matter of just a few weeks" before...
  • Iran said the disconnected cameras had been operating beyond the safeguard agreement between Tehran and the IAEA.
  • European governments have expressed mounting concern over how far Iran has gone since the US reimposed sanctions.

Stock markets slow as investors weigh recession prospects

The OECD on Wednesday warned that the world economy would pay a "hefty price" for Russia's invasion of Ukraine as...
  • European stock markets were lower Wednesday approaching the half-way stage.
  • All eyes are on the release of US inflation data for an idea about the future Fed rate hikes.

World economy will pay a ‘hefty price’ for Ukraine crisis: OECD

The OECD warned Wednesday that the world economy will pay a "hefty price" for Russia's invasion of Ukraine as it...
  • The Paris-based organization, which represents 38 mostly developed countries, is the latest institution to predict lower GDP growth due to the conflict.
  • The OECD noted that commodity prices had risen, hitting real income and spending, "particularly for the most vulnerable households".

Zara owner Inditex profits up

The company's net profit increased by 80 percent
  • The world's biggest fashion retailer said its net profit increased by 80 percent in the first three months of its financial year to April 31
  • The fashion group, which owns eight brands including upmarket Massimo Dutti warned earlier this year that 2022 sales would be impacted by Russia's invasion

Britain reestablishes full Syria ties as FM David Lammy visits Damascus

In 2011, Britain was among the first countries to acknowledge rebel groups as the official Syrian government after then-president Bashar...

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Italy begins probe into OpenAI’s new video tool Sora

ROME, ITALY – The European country's data protection watchdog - Italian Data Protection Authority - said on Friday it has launched...

US plan for Gaza aid transfer through sea dismissed by UN expert

In his annual State of the Union address to Congress, President Joe Biden said the US military would "lead an...

Zelensky to discuss war, Black Sea security during Turkey visit

NATO member Turkey has sought to maintain good relations with Moscow and Kyiv throughout the two-year war, with Erdogan pitching...
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Expanding Israeli settlements a ‘war crime’: United Nations

UN rights chief warned Volker Turk said there had been a drastic acceleration in Israeli illegal settlement building in the...
  • "Such transfers amount to a war crime that may engage the individual criminal responsibility of those involved," Turk said in a report to the UN Human Rights Council.
  • Reported Israeli plans to build another 3,476 settler homes in the West Bank colonies of Maale Adumim, Efrat and Kedar "fly in the face of international law", he said.

Mothers of imprisoned Palestinians from West Bank under great stress

RAMALLAH, PALESTINIAN TERRITORIES – "I don't sleep anymore," Latifa Abu Hamid said while looking at pictures of her children hanging on...
  • Hamid lives in a house in Ramallah, in the occupied West Bank, given to her by the president of the Palestinian Authority, which has its seat in the city.
  • Palestinian prisoner advocacy groups say the number of incarcerated Palestinians has jumped from 5,200 before October 7 to about 9,000.

Biden warns Israel not to use Gaza aid as ‘bargaining chip’

Using his annual State of the Union address to deliver some of his strongest comments yet about the five-month-long war,...
  • Biden's address was delivered to Congress as hopes dimmed for a new truce after Hamas negotiators left talks to consult with the movement's leadership in Qatar
  • US president, who is facing political pressure over his support for Israel despite the worsening humanitarian crisis in Gaza, stressed "no US boots will be on the ground."