INSEAD Day 4 - 728x90

Samsung biggest chip investor

The tech giant invested nearly $59.2bn in 2025.

flynas to set up new hub

Five destinations in first phase of operations.

AD Ports Group acquires CLI

CLI is Brazilian agri-bulk terminal operator.

$1.59bn Makkah project awarded

A consortium will develop two districts in the Holy City.

2PointZero posts profit surge

Growth driven by merger consolidation.

World Bank lowers MENA’s growth forecast to 2.2 percent in 2023

DUBAI, UAE - The World Bank raised its global growth forecast for 2023 to 2.1 percent (in June 2023) from...

Economy

Jewels of Emirates Show begins in Sharjah

SHARJAH, UAE - The fourth edition of the Jewels of Emirates Show, the first Emirati exhibition dedicated to diamond jewelry,...

Business
Business

Agthia to buy Dubai snack company

The group has endorsed the full acquisition of BMB Group.
  • The deal would represent Agthia’s second investment in the snacking and healthy food market, following its acquisition of date company Al Foah earlier this year
  • The value of the all-cash deal was not disclosed
Research

Gartner predicts IT spending to touch $557bn in 2022

Countries across the world are expected to be spending some $557 billion in 2022, up by 6.5 percent compared to...
  • Most of the spending will be on IT services and software
  • The COVID-19 pandemic sped up the digital transformation across government and private sectors last year, as consumers around the world shifted to remote channels
Business

OptiNAND: WD’s new disk feature

Data retention, performance enhanced in the new architecture.
  • OptiNAND offers customers a solution to meet the demand for storing vast amounts of data.
  • A drive works smarter with enhanced firmware algorithms.
Economy

Lebanon crisis may fuel bread shortage

The Lebanese flour millers' association has said mills might gradually stop working as fuel supplies run out. This, when the...
  • This is the latest casualty of fuel shortages in Lebanon, where hospitals have already warned that they are hanging on by a thread
  • The overall shortage of power-generating fuel has resulted in protracted power cuts in the country, forcing medical facilities to run generators, which too need fuel to run
Business

Emirates to receive three A380 by November

The delivery will take the airlines' total fleet of A380s to 188 units.
  • Airline to also reinstate A380 flights on key destinations worldwide in October
  • The deliveries will bring the carrier’s total fleet of A380s to 188 units in November, when the last double-decker is scheduled to arrive 
Business

UAE forms new law to punish erring ministers and officials

Any minister or senior official found guilty of corruption could be relieved of their job.
  • People can submit complaints directly to the public prosecution
  • Those accused may see their travel permits revoked, and even assets frozen
Business

Meat grown in lab to be on menu in MENA

An American startup Eat Just has tied up with Doha Venture Capital (DVC) and Qatar Free Zones Authority (QFZ) to...
  • Facility to produce lab-grown meat without slaughtering livestock
  • The large-scale plant, to be built in Qatar’s Umm Alhoul Free Zone, will house Eat Just’s cultured meat division, GOOD Meat

Stella Stays eyes $12bn Bahrain push

This is part of its expansion plans in the Middle East region.
  • Stella Stays operates a portfolio of managed properties in the UAE, Bahrain and Canada
  • The startup, launched in late 2019, has grown to manage nearly 300 properties as of August
Business

Ooredoo’s B2B app makes business solutions easier

Free to all Ooredoo business offers customers with around the clock access and two secured log-in access levels.
  • Free to all Ooredoo business offers customers with around the clock access and two secured log-in access levels
  • Employees can view their own accounts, pay personal bills, top-up credit and add roaming services
Economy

Kuwait loses $4b per year to corruption: Expert

According to Transparency International, Kuwait in 2020 ranked 78 out of 180 countries in the Corruption Perception Index.
  • Kuwait Economic Society chairman Abdul Wahab Al Rasheed said failure to take the right decision at the right time was the worst form of corruption
  • He also called for urgent economic reform, without which the country’s budget deficit would equal its sovereign fund by 2035

World Bank lowers MENA’s growth forecast to 2.2 percent in 2023

DUBAI, UAE - The World Bank raised its global growth forecast for 2023 to 2.1 percent (in June 2023) from...
Economy

Company News

Latest News

Lebanon arrests five agents suspected of killing Syrian detainee

Shocked at the death of a Syrian detainee in custody of security officials, Lebanon has arrested five State Security agents...
Geostrategy

Broad money supply in Qatar reaches US$185.4bn in July

Social Security statements reached QR 78 million in July 2022, for 14,495 beneficiaries, recording a monthly decrease of 0.2% for...
Economy

Clean energy is key for Indonesian economy, says IEA

Indonesia has a viable path to reaching its target of net zero emissions by 2060, bringing major benefits to its...
Economy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Economy

Saudi Arabia eyes partnerships to accelerate growth of digital economy

Saudi IT Minister, Eng. Abdullah bin Amer Al-Swaha, held meetings with his counterparts from the other countries at the Indonesian...
  • Saudi IT Minister, Eng. Abdullah bin Amer Al-Swaha, held meetings with his counterparts from the other countries at the Indonesian city of Bali
  • The meetings also discussed enhancing cooperation in the areas of digital economy growth, emerging technologies and the digital government
Business

Ajman Bank and Mastercard collaborate to launch Touch Card

Ajman Bank and Mastercard have partnered to launch Touch Card, a payment card that will allow blind and partially sighted...
  • The Touch Card has been designed to work with point-of-sale terminals and ATMs
  • Moza Al Akraf Al Suwaidi, Undersecretary of the Ministry of Community Development, said it aligns with UAE’s social and community goals to promote an inclusive environment
Economy

Number of UAE bank employees surged to 34,330 in H1 2022: CBUAE

In its June 2022 report, CBUAE noted that the number of employees in the country’s banking sector increased to 34,332...
  • CBUAE report noted that the number of employees in the country’s banking sector increased to 34,332 during H1 2022
  • A total of 27,545 employees work in national banks and 6,787 employees for foreign banks operating in the country