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.

Average US tariffs now highest since 1910s: WTO and IMF

The figure, calculated by the two organizations, stands in contrast with the 2.4 percent rate in force at the time...

Economy

AI search pushing an already weakened media ecosystem to the brink

New York, United States - Generative artificial intelligence assistants like ChatGPT are cutting into traditional online search traffic, depriving news...

Economy
Economy

UAE to mobilize global tech, space sectors for climate action ahead of COP28

ABU DHABI, UAE - Key UAE government entities have partnered to boost coordination between advanced technology and space sectors. The...
  • The collaboration aims to further contribute to COP28’s inclusive ecosystem, bringing together major technology companies, global institutions.
  • It will encourage companies to use the UAE as a base for producing new technologies that can help drive sustainable industrial development.
Economy

CEPA signed with UAE is a special achievement: Indian minister

New Delhi, India--The Comprehensive Economic Partnership Agreement (CEPA) signed with the UAE and operationalized last year is a “special achievement...
  • The Indian minister was responding to a question by a member of parliament about whether "there are some special achievements of India's foreign policy"
  • He added that there is a greater integration of the Indian economy with regional and global economies, contributing to a deeper and extensive trade partnerships
Geostrategy

Protests mark Beirut blast anniversary as justice eludes victims’ families

Hundreds of protestors marched alongside victims' families demanding long-awaited justice as the country marked three years since one of history's...
  • There is no headway in the probe three years on, leaving survivors still yearning for answers
  • Many protestors carrying photograpsh of the victims shouted slogans: "We will not forget"
Economy

Emiratis make up 74% of Federal Authority for Nuclear Regulation workforce

Abu Dhabi, UAE-- In 2022, Emiratis represented 74% of the Federal Authority for Nuclear Regulation (FANR) 248 employees. FANR continues...
  • According to FANR 2022 annual report, the body continues to attract talented Emiratis to meet its business needs, recruiting 22 citizens during the review period
  • The report said that women comprise of more than 45 percent of FANR's overall workforce and hold leadership positions in key areas of the organisation
Business

Dubai Investments net rises to $157m

Real estate sector remains one of the key business verticals.
  • Total income for the Group increased by 31 percent from US$422 million (AED 1.55 billion) in H1 2022 to US$552 million (AED 2.03 billion) during H1 2023.
  • Total shareholder equity increased to US$3.5 billon as of June 30 2023, compared to US$3.5 billion (AED12.84 billion) as of year ended December 31 2022.
Economy

UAE 2023 growth prospects face least risk in Middle East, Africa

Lower oil production, high inflation, tighter monetary policies, increased borrowing costs, and the rising cost of servicing debt continue to...
  • The GCRI risk score in the MEA region has increased continuously for six quarters until Q1 2023, signaling a deteriorating situation.
  • UAE, Saudi Arabia, Kuwait and Qatar are among the top five low-risk countries in the region, while Syria, Libya and Yemen are among the 10 high-risk countries.
Business

Saudi capital market institutions post record 2022 net income

Riyadh, Saudi Arabia -- Capital market institutions authorized by Saudi Arabia's Capital Market Authority posted a record 29.8 percent increase...
  • The retained profits in capital market institutions reached a record high of SAR 60.34 billion, an increase of 39.17 percent.
  • The profits of capital market institutions surged to highest ever SAR 12 billion due to a 26 percent increase in revenues in 2022.
Business

Empower H1 2023 revenue at $333m

The company’s EBITDA in H1 2023 was US$178 million.
  • In the July 2022 to June 2023 period, Empower’s consolidated revenue was US$778 million.
  • Empower CEO said the firm continues to expand investments in its portfolio of assets and infrastructure.
Business

Burjeel Holdings H1 net profit $61m

Firm's EBITDA rose 12.7% y-o-y to $127 million in H1 2023.
  • Burjeel Holding reported revenue of US$599 million, up 13.9 percent y-o-y during H1 2023.
  • The net profit was attributable to robust topline growth and significantly lower finance costs.

Eni, British Petroleum, Sonatrach say resuming operations in Libya

Crude oil is the main revenue source for Libya, which has been torn by more than a decade of stop-start...
  • The NOC said in a press release it "received official notifications from the Italian company Eni and the British company British Petroleum regarding the lifting of force majeure
  • NOC had also been notified by Algeria’s Sonatrach that "exploration and fulfilment of contractual obligations in blocks 065 and 96/95 in the Ghadames Basin" had resumed

Average US tariffs now highest since 1910s: WTO and IMF

The figure, calculated by the two organizations, stands in contrast with the 2.4 percent rate in force at the time...
Economy

Company News

Latest News

World Bank estimates damage to Gaza infrastructure at $18.5bn

The World Bank said in its interim damage assessment, this is equivalent to 97 percent of the combined economic output...
Economy

GCC tourism growth skyrockets as diversification drive gains momentum post-Covid

GCC countries collaborate on comprehensive tourism strategy, leading global recovery post-pandemic with remarkable growth rates and ambitious plans for sustainable...
Economy

SAMA: E-payments share reached 70% of total payments in 2023

Riyadh, Saudi Arabia -- The Saudi Central Bank (SAMA) announced on Monday that the share of retail consumer electronic payments...
Economy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Economy

Gross written premium rises by 12.7% in Q4 2023 to US$14bn, says CBUAE

ABU DHABI, UAE - The UAE insurance sector continued to grow in Q4 2023, as reflected by the increase in...
  • The number of licenced insurance companies in the UAE remained at 60, the CBUAE announced in its quarterly economic report.
  • The insurance of persons and fund accumulation premiums decreased by 12.4 percent YoY.
Economy

Debt, trade barriers drag Asian economies in 2024, says World Bank report    

BANGKOK, THAILAND – Asian economies are not doing as well as they could and growth in the region is forecast...
  • Asian economies are not doing as well as they could and growth in the region is forecast to slow to 4.5 percent this year from 5.1 percent in 2023.
  • A key risk is that the US Federal Reserve and other major central banks might keep interest rates higher than before the pandemic.
Economy

Economic growth in Asia forecast to slow to 4.5 percent, says World Bank

Bangkok, Thailand--Asian economies are not doing as well as they could and growth in the region is forecast to slow...
  • A World Bank report said that policy uncertainties, trade barriers are impeding the region's economies
  • The report added that Asia’s economies are growing more slowly than before the Covid pandemic