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.

Trump says to raise tariff on India over Russia oil purchases

President Donald Trump threatened Monday to "substantially" hike US tariffs on goods from India over its purchases of Russian oil...

Economy

Trump’s global trade policy faces test, hours from tariff deadline

The last-gasp scramble to strike bilateral accords came as an appeals court in Washington considered the legality behind Trump's strategy...

Economy
Business

Inma Holding profit tumbles

Its net profit fell 53.8% in H1 of 2023 to US$0.92m.
  • Its earnings per share(EPS) declined to reach QR 0.059 as of 30th June 2023 versus EPS QR 0.128 for the same period in 2023
  • The company posted a 61.7% jump in net profit in 2022, reaching $2.69 million in comparison to a net profit of $1.67 million
Economy

UAE’s real estate market remains strong in the first half of 2023: CBRE

Dubai, UAE--The UAE's real estate market has recorded a strong performance across all sectors in the first half of the...
  • According to the CBRE report, the sector has benefitted from an expansion in the country's non-oil economy
  • The report added that industrial and logistics sector has seen relatively strong levels of activity during the period
Business

US equities up as major firms set to unveil economic reports

New York, US - Wall Street stocks edged higher early Monday ahead of major economic reports and earnings releases later in...
  • US equities have continued to trend higher in July behind hopes that the Federal Reserve will soon relent on interest rate hikes
  • The broad-based S&P 500 added 0.3 percent at 4,593.56, while the tech-rich Nasdaq Composite Index advanced 0.4 percent to 14,370.18.
Economy

Federal Reserve open to alter interest rates, says official

Washington, US - A Federal Reserve official left open the possibility on Monday of pausing or stopping interest rate hikes at...
  • To rein in surging costs of living, the Fed has lifted the benchmark lending rate rapidly since March 2022
  • While the full effect of policy will take time to ripple through the economy, inflation has cooled
Economy

Saudi Arabia real GDP grows 1.1 percent in Q2 2023

RIYADH, SAUDI ARABIA - The real GDP of Saudi Arabia grew by 1.1 percent in the second quarter of 2023,...
  • According to the report, seasonally adjusted real GDP decreased by 0.1 percent in Q2 of 2023 compared to Q1 of 2023.
  • GASTAT carries out all statistical work, as well as the technical oversight of the statistical sector in Saudi Arabia.
Geostrategy

UK to issue hundreds of new oil and gas drilling licenses in North Sea

The announcement has angered environmental groups and comes amid an internal debate within the ruling Conservative party on green policies....
  • "Investment in the North Sea will continue to unlock new projects, protect jobs, reduce emissions and boost UK energy independence," PM Rishi Sunak's office said.
  • "The government is taking steps to slow the rapid decline in domestic production of oil and gas, which will secure our domestic energy supply," it said.
Geostrategy

UAE oil giant ADNOC pledges to ‘accelerate’ zero-carbon plan

ADNOC "is accelerating its decarbonization plan to advance its net-zero ambition to 2045, compared to its previous target of 2050,"...
  • ADNOC said it has "reduced its greenhouse gas emissions" by about 5m tons in 2022, mostly through the use of solar and nuclear energy, to power all of its onshore operations.
  • ADNOC CEO Sultan Al Jaber, who will head up COP28, has argued that fossil fuels will continue to play a key role, and that carbon capture technologies will contain emissions.
Business

National Leasing’s profits hit $2.37m

A jump of 28 percent in net profit vis-a- -vis H1 2022.
  • National Leasing Holding was established in 2003
  • It was listed on QSE in 2003 with a capital of $135.9 million.
Economy

In Asia expansion push, Masdar to develop 2GW clean energy in Malaysia

Abu Dhabi, UAE--Abu Dhabi Future Energy Company (Masdar) and Citaglobal Berhad have signed a memorandum of understanding (MoU) for developing...
  • The two companies will join hands to build projects across the renewable energy mix in the picturesque Malaysian state of Pahang
  • Masdar sees Southeast Asia as a key investment destination, where it has already built the region's biggest floating solar facility in Indonesia

Lebanon’s central bank chief to end term with no successor

Lebanon's deeply divided political class has failed to agree on a replacement for Salameh, 73, creating another power vacuum in...
  • Salameh has for two years been the subject of judicial investigations at home and abroad into allegations including embezzlement and money laundering, charges which he denies
  • Lebanon's central bank chief Riad Salam is wanted in France and Germany, and Interpol has issued a Red Notice for his arrest, but Lebanon does not extradite its nationals

Trump says to raise tariff on India over Russia oil purchases

President Donald Trump threatened Monday to "substantially" hike US tariffs on goods from India over its purchases of Russian oil...
Economy

Company News

Latest News

Saudi tourism hits record $36 billion inbound spending in 2023

Riyadh, Saudi Arabia - Saudi Arabia's tourism sector contributed to a record-breaking $36 (SR135 billion) in spending by international visitors....
Economy

Jordan exports pharmaceutical products worth US$874m in 2023

AMMAN, JORDAN – Products of the Kingdom’s pharmaceutical industries and medical supplies sector moved over the past quarter century to...
Business

US Federal Reserve’s preferred inflation gauge ticks up as fuel costs rise

WASHINGTON, US – The US central bank's favored measure of inflation edged higher last month on the back of rising fuel...
Economy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Economy

Gulf nations embark on defense industry localization

Saudi Arabia leads GCC efforts towards defense self-reliance by creating the first military industries committee, aiming to reduce foreign imports...
  • Saudi Arabia leads GCC efforts towards defense self-reliance by creating the first military industries committee, aiming to reduce foreign imports and enhance local capabilities.
  • The initiative targets over 50 percent nationalization of the military industry by 2030, driven by economic and technological sovereignty, aligning with the Saudi Vision 2030.
Business

Abu Dhabi Chamber sets up working group to support startups, SMEs

ABU DHABI, UAE – The Abu Dhabi Chamber of Commerce and Industry (ADCCI) has formed a working group specifically for...
  • This initiative aims to support and represent the interests of startups and SMEs in the region.
  • The goal is to make Abu Dhabi the top choice for business in the Middle East and North Africa by 2025.
Business

TAQA, JERA sign pact with SATORP to develop plant in Saudi Arabia 

ABU DHABI, UAE – Abu Dhabi National Energy Company (TAQA), together with JERA Co., Inc on Thursday announced that they...
  • They will develop a greenfield industrial steam and electricity cogeneration plant for Amiral petrochemical complex.
  • The Amiral petrochemical complex is expected to house one of the largest mixed-load steam crackers in the Arab Gulf region.