INSEAD Day 4 - 728x90

Economy

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.

Oil prices rise ahead of US-Russia summit as stocks digest inflation data

New York, United States - Wall Street stocks finished little changed Thursday as markets absorbed a disappointing inflation report, while...

Economy

Most markets rise as China-US tariff truce extended, US inflation data in focus

In an executive order, the White House reiterated its position that there are "large and persistent annual US goods trade...

Economy
Economy

Arab Parliament endorses call to support victims of terrorism

Cairo, Egypt-- Arab Parliament on Monday endorsed the call for victims of terrorism in the Arab world to be supported...
  • The parliament said the victims of terrorism in the Arab world must be supported with money to overcome their tragedies
  • The parliament expressed solidarity to coincide with the International Day of Remembrance and Tribute to the Victims of Terrorism
Economy

China cuts key interest rate to support economy

The measures, which run counter to rising interest rates around the world as other major economies work to curb inflation,...
  • The one-year loan prime rate was reduced from 3.55 percent to 3.45 percent, the People's Bank of China said in a statement
  • The decision is intended to encourage commercial banks to grant more loans and at more advantageous rates
Economy

UAE’s ERC unveils housing project for victims of February quake in Syria

Latakia, Syria--The Emirates Red Crescent (ERC) has inaugurated the Al Naqa housing project in the Latakia Governorate in Syria. The...
  • In April the ERC had announced its intention to build 1,000 prefabricated housing units in seven areas in the Latakia Governorate for the victims of earthquake
  • The governor of Latakia, Amer Hilal, expressed his gratitdue to the UAE for implementing relief projects in Syria since the early days of the earthquake
Economy

Saudi Arabia issues tax warning to businesses: Pay up or face hefty fines

Riyadh, Saudi Arabia - Saudi authorities have issued a clear warning to businesses operating within the country: settle your outstanding...
  • The warning specifically targets businesses in the commercial sector that fall under the purview of value-added tax
  • VAT serves as one of Saudi Arabia’s prevailing tax systems and functions as an indirect tax levied on the purchase and sale of goods and services
Economy

GCC steps up to diversify Europe’s natural gas supply

Amid Russian-Ukrainian war, Europe aims to diversify its energy sources, with Gulf countries like Qatar, UAE, Oman, and Saudi Arabia...
  • Amid the Russian-Ukrainian war, Europe aims to diversify its energy sources, with Gulf countries like Qatar, UAE, Oman, and Saudi Arabia offering alternative natural gas options
  • These countries have signed several long-term agreements to supply Europe with liquefied natural gas, helping to diversify Europe's energy sources and enhance energy security
Business

Rival branches of Central Bank of Libya reunite

Libya's central bank announced that its two rival branches in the west and east are reuniting after nearly a decade...
  • Libya has seen 12 years of stop-start conflict since the 2011 NATO-backed revolt that toppled strongman Moamer Kadhafi.
  • The Central Bank of Libya said it has "again become a unified sovereign institution", in a statement issued by the governor and his deputy.
Business

NDF helps in financing of US$2.2bn renewable energy project

RIYADH, SAUDI ARABIA -  The National Development Fund (NDF) on Sunday said it will contribute US$453 million (SAR1.7 billion) to...
  • This is one of the world’s largest renewable energy projects, developed through joint venture by Saudi Aramco, Badeel and ACWA Power.
  • NDF's US$453 million financing commitment has attracted local and global banking groups in the Kingdom’s high-growth infrastructure market.
Business

Iran-European Union trade reaches $2.5 billion in first half of 2023

Tehran, Iran -- Trade between Iran and the European Union member states reached 2.3 billion euros ($2.5 billion) in the...
  • Iran-EU trade exchanges declined by 10 percent compared to the last year’s corresponding period.
  • Germany, Italy and the Netherlands accounted for most of the export of products to Iran from January to June 2023.
Business

Bread-short Tunisia to restore flour supply to some bakeries

Since the beginning of August, European-style bakeries selling baguettes in the formerly French-ruled country had been prevented from accessing their...
  • Days later those same bakeries also stopped receiving non-subsidized flour and semolina from the state, which controls the supply of all such essential goods in the country.
  • Economists attribute the bread shortage partly to speculation but, more broadly, to the lack of cereals. Tunisia's debt is around 80 percent of gross domestic product.
Science

Saudi Arabian Crown Prince launches KAUST’s new strategy

RIYADH, SAUDI ARABIA - Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud, Prime Minister and Chairman of KAUST Board...
  • Strategy aims to transform research into economically productive innovations by focusing on national priorities for research, development and innovation.
  • It aims to strengthen KAUST’s partnerships with both the public and private sectors, which will contribute to achieving the objectives of Vision 2030.

Oil prices rise ahead of US-Russia summit as stocks digest inflation data

New York, United States - Wall Street stocks finished little changed Thursday as markets absorbed a disappointing inflation report, while...
Economy

Company News

Latest News

Despite sanctions, Iran oil exports hit six-year high: report

Tehran, Iran - Iran managed to sell an average of 1.56 million barrels per day during the first quarter of...
Economy

Oil prices surge, Asian markets fall following Iran explosions

Oil prices surged more than three percent in early Asian trade, and Asian stock markets slumped by over 3 percent...
Economy

From sand dunes to boardrooms: Strategies for success in challenging times

"Leadership teams must recognize that the livelihoods of their employees' families hinge on the stability of the business. Understanding that...
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Economy

Equities sink, oil rallies on fears of Iran-Israel conflict

Stock markets fell and oil prices climbed Tuesday on growing fears of a wider war in the Middle East after...
  • The selling came after Wall Street's three main indexes tanked
  • Investors appeared to ignore figures showing China's economy grew 5.3 percent in Q1, 2024
Business

Special economic zones are a new craze in Middle East

Vast swathes of land across the desert region are seeing the sprouting of new special zones to entice big business...
  • In 2023, Saudi Arabia set up four new special economic zones, with incentives for international companies to operate within the kingdom
  • SEZs are seen as catalysts for economic diversification, which offer platforms for innovation, entrepreneurship, and investment in non-oil sectors
Economy

Saudi Arabia surpasses homeownership goals, sets sights on 70% by 2030

The kingdom's housing program achieves remarkable success, surpassing targets and reducing waiting times from 15 years to immediate entitlement, revolutionizing...
  • The housing program, which implements over 15 development initiatives and programs, successfully increased Saudi families' homeownership rate to more than 60% by 2023
  • It also accomplished over 165,000 housing units and plans to provide 365,000 housing units over the next few years, with 95,000 units going to the most vulnerable families by 2025