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 ‘no extensions’ to Aug 1 tariff deadline

While Trump imposed a sweeping 10 percent tariff on goods from almost all trading partners in April, higher rates customized...

Geostrategy

Trump metal tariffs wreak havoc on US factory

Belcamp, United States --  In the sweltering US summer, metal containers decorated with snowmen and sleighs are taking shape --...

Business
Economy

Dubai Customs thwarts 2,600 attempts in last three years to smuggle drugs

Dubai, UAE-- Dubai Customs has scuttled nearly 2,600 attempts during the last three years to smuggle drugs, combating a concerted...
  • The traffickers attempted to smuggle 36.76 kilograms of marijuana through the airport, and in another seizure a big haul of 75,000 Captagon tablets was seized
  • Dubai Customs has installed a state-of-the-art system at Jebel Ali Customs Center and TECOM allowing for inspection of large vehicles, yachts and containers
Economy

Germany gears up for continued recession after years of bloom

BERLIN, GERMANY - On his many visits to semiconductor factories and electric car plants, Germany's Chancellor Olaf Scholz bangs the drum...
  • Having dipped into recession at the beginning of the year, Germany looks set to finish the year in the red - and at the back of the pack among its eurozone competitors.
  • The government is the only one left still predicting GDP will grow this year, while the main economic institutes and the IMF are looking at a drop of 0.2 to 0.4 percent.
Geostrategy

India’s Modi, Egypt’s Sisi pledge to deepen strategic partnership

Indian Prime Minister Narendra Modi met Egypt's President Abdel Fattah al-Sisi in Cairo on a rare visit during which both...
  • New Delhi and Cairo have pledged to boost bilateral trade as India is also stepping up investment in Egypt, particularly in renewable energy.
  • India is already Egypt's seventh-largest trading partner, according to data from Cairo's central bank, with trade reaching $7 billion last year.
Geostrategy

UAE discusses tourism with India, UK, Indonesia and Japan

NEW DELHI, INDIA - UAE Minister of Economy and Head of the Emirates Tourism Council Abdullah bin Touq Al Marri...
  • The UAE is keen on developing tourism ties with countries and building partnerships in fields that supports economic, social growth and prosperity.
  • The UAE had adopted a forward-looking vision to develop a distinguished tourism sector at the regional and global levels.
Business

Sharjah real estate transactions in May valued at US$653m

SHARJAH, UAE - The emirate's real estate activity during May 2023 logged a total value of US$653 million (AED 2.4...
  • The report issued by Sharjah Real Estate Registration Department revealed that 3,540 transactions were recorded in various regions across the emirate.
  • The report indicated that the real estate sector has maintained its leading position as a preferred choice for those wishing to buy or invest in Sharjah.
Economy

UAE GDP up 7.9% in 2022 on strong non-oil sector performance

Minister of Economy Abdullah bin Touq Al Marri said that the strong GDP growth was due to the government's forward-looking...
  • The UAE's GDP at constant prices totaled AED1.62 trillion in 2022, while non-oil GDP at constant prices reached AED1.174 trillion.
  • Al Marri noted that the UAE's GDP per capita has grown by an unprecedented rate of 24.7 percent in the past six years, the highest in the GCC region.

Saudi Arabia hosts the biggest hajj pilgrimage in years

Islam's holiest site is expected to host more than two million worshipers from 160 countries during the annual rites that...
  • The hajj began early on Sunday with the "tawaf" -– the circumambulation of the Kaaba, the large cubic structure draped in black cloth with gold trimmings
  • This year’s pilgrimage will be the biggest since Saudi Arabia scrapped rules in 2021 that banned women who weren't accompanied by a male relative
Economy

Abu Dhabi approves housing benefits worth US$844mn for 1,807 citizens

Abu Dhabi, UAE-- The emirate of Abu Dhabi has approved the disbursement of housing benefits worth US$844 million to citizens...
  • Abu Dhabi Crown Prince Khaled bin Mohamed bin Zayed, and chairman of the Abu Dhabi Executive Council, approved the grant for 1,807 citizens in Abu Dhabi
  • Two grants will go toward ready-made housing for low-income individuals worth $272 million, and another for housing loans to citizens worth $571 million
Economy

Qatar to head ICAO’s Technical Cooperation Committee

Doha, Qatar--Qatar has been elected to be the chairperson of the International Civil Aviation Organization (ICAO)'s Technical Cooperation Committee (TCC)....
  • ICAO council member states voted Qatar's permanent representative in the council Essa Abdullah Al Malki as the chairperson of the ICAO's TCC
  • The TCC is tasked with assisting and advising the council on reviewing ICAO policies on technical cooperation, assistance, training, and operational plans
Economy

Libya’s east-based government threatens to block oil exports

Libya's internal turmoil may worsen with the head of the country's east-based administration threatening to block oil and gas exports...
  • Hamad also said that he had "frozen" 2022 oil revenues "equivalent to more than 130 billion dinars" (around $27 billion) as a first step
  • He accused the government in Tripoli of squandering energy revenues by making "extravagant spending", without elaborating

Trump says ‘no extensions’ to Aug 1 tariff deadline

While Trump imposed a sweeping 10 percent tariff on goods from almost all trading partners in April, higher rates customized...
Geostrategy

Company News

Latest News

Swiss central bank posts 2023 loss

The bank has raised its interest rates to tame inflation..

Turkey’s inflation rises to 67.1% in February

On a monthly basis, inflation rose 4.5 percent in February, slower than the 6.7 percent rise logged in January. Erdogan...
Economy

Iran and Russia to sign new contracts to develop oil, gas fields

Tehran, Iran-- Iran and Russia have agreed to sign new contracts on developing oil and gas fields, according to the...
Economy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Economy

Saudi labor market booms amid economic shifts

Employers in the Kingdom anticipate workforce expansions and salary hikes, though grappling with talent shortages and evolving work models, says...
  • Employers in the Kingdom anticipate workforce expansions and salary hikes, though grappling with talent shortages and evolving work models, says a report.
  • Increased investment in skills development and mentorship is crucial, while diverse perspectives on AI's impact call for strategic preparation of future workforce.
Economy

UAE achieves milestone in combating financial crimes

“It highlights the collaborative efforts of various committees, entities, and national bodies, including the Central Bank and the National Committee...
  • The FATF recognizes UAE's commitment to combating money laundering and terrorism financing.
  • UAE's national strategy aligns with international standards to ensure financial system integrity.
Economy

Tunisians take to streets to protest economic woes

Head of Tunisia's trade union confederation Noureddine Taboubi said in a speech to protestors that the economic and social situation...
  • He said the state's ability to service its foreign debt had been to the detriment of the people
  • The Tunisian sluggish economy posted growth of 0.4% and an unemployment rate of 16.4% in 2023