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.

MENA Brief | June 19: GCC central banks hold interest rates steady, Diriyah House launched in London

As most currencies in the region are pegged to the US dollar, monetary policy follows the decisions taken in Washington,...

Geostrategy

Global oil demand to dip in 2030, first drop since Covid: IEA

IEA cited sluggish economic growth, global trade tensions, the rise of electric cars and the shift away from crude to...

Economy
Economy

Türkiye’s first-ever female Central Bank Governor takes office

Ankara, Türkiye - Türkiye's newly appointed Central Bank Governor Hafize Gaye Erkan took office on Friday, becoming the first woman...
  • Erkan, 41, holds a bachelor’s degree in industrial engineering from Istanbul's Bogazici and a doctorate in operations research and financial engineering at Princeton University
  • Erkan also completed two training programmes on management sciences at Harvard Business School and leadership at Stanford University
Business

UAE and Cambodia to ramp up bilateral trade to US$1bn in five years

Phnom Penh, Cambodia-- The UAE and Cambodia have agreed to boost economic ties, expanding the bilateral non-oil trade from the...
  • The two sides agreed that the Comprehensive Economic Partnership Agreement signed during the visit was the best means of achieving the economic ambitions
  • The UAE side explored opportunities to enter into partnerships with business executives from Cambodia's fast developing sectors like apparel and fintech
Economy

UAE national banks provide $99.9 bn credit to trade, industry in Q1 2023

Abu Dhabi, UAE - Credit financing provided by the UAE national banks to the trade and industry sectors grew 6.1...
  • The statistics showed that the cumulative balance of credit provided by national banks to the two sectors amounted to $99.9 billion
  • According to the apex bank’s data, the cumulative balance of credit provided by national banks to the two sectors increased on a monthly basis by 0.1 percent
Geostrategy

UAE and Japan look to boost ‘strategic’ relations with focus on energy

Tokyo, Japan-- The UAE and Japan have discussed ways to strengthen the strategic partnership with a sharp focus on the...
  • The UAE's Foreign Minister Sheikh Abdullah bin Zayed met with Japan's Prime Minister Fumio Kishida in Japan and discussed ways to boost strategic partnership
  • The foreign minister pointed to the "pioneering example of strategic cooperation" that has gone on for more than 50 years between the two nations
Economy

UAE bank investments touch record high at US$149.35bn in March

Abu Dhabi, UAE--UAE's bank investments climbed to a record level, touching $149.35 billion by the end of March, the highest...
  • According to CBUAE, the investments showed a year-on-year growth of 16 percent as against $129 billion in March 2022
  • The stock investments hit $3.26 billion in March, a jump of nearly 0.8 percent from around $3.21 billion in December 2022
Business

KEZAD, Tubacex to build Middle East’s first OCTG-CRA manufacturing facility

ABU DHABI,  UAE -  Khalifa Economic Zones Abu Dhabi – KEZAD Group on Friday announced the signing of a land...
  • This would be the first such manufacturing facility in the Middle East and is expected to be operational towards the end of 2024.
  • By partnering with Tubacex Group, KEZAD aims to further increase the localization and resilience of supply chains.
Business

Crypto exchange Binance halts US dollar deposits after action

WASHINGTON, US -  The world's largest cryptocurrency exchange Binance said it was halting US dollar deposits and encouraged clients to withdraw...
  • Binance is alleged to have permitted US residents to trade, even though the platform is not registered in the United States as a securities exchange.
  • Binance has criticized the govt's actions, saying that it will continue to vigorously defend ourselves and customers against the SEC attacks.
Business

UK to scrap energy windfall tax if oil, gas prices drop further

The UK government said it would scrap a windfall tax on the energy sector should oil and gas prices drop...
  • The government said it would return to 40 percent should average Brent North Sea oil fall to, or below, $71.40 per barrel for two quarters in a row.
  • Should prices remain above historical norms, the windfall tax would remain until October 2028 as previously announced.
Economy

Dubai set to welcome 18m tourists in 2023

Dubai, UAE - After welcoming 14.36 million visitors in 2022, a 97 percent Year-over-Year (Y0Y) growth when compared to 7.28...
  • Tourists have visited the UAE at an increased rate and Dubai has drawn most of them
  • The city alone welcomed six million tourists in the first four months of this year
Economy

Most markets rise on hopes for US Federal Reserve rate pause

Expectations the Fed will stand pat next week -- for the first time since starting its hiking cycle last year...
  • But news of a forecast-busting jump in jobless claims for last week -- to the highest since October 2021 -- cemented the belief officials will pause until next month.
  • All three main US indexes ended higher, with the S&P 500 entering a bull market after rising more than 20 percent from its October low.

MENA Brief | June 19: GCC central banks hold interest rates steady, Diriyah House launched in London

As most currencies in the region are pegged to the US dollar, monetary policy follows the decisions taken in Washington,...
Geostrategy

Company News

Latest News

WTO launches US$50m fund for women entrepreneurs in developing countries

ABU DHABI, UAE - The director general of the World Trade Organization, Ngozi Okonjo-Iweala, on Sunday launched a $50 million fund...
Geostrategy

Binaa Al Bahrain aims to create expansive mixed-use projects

ABU DHABI, UAE – Chairman of Eagle Hills International Mohamed Alabbar has said that US$4 billion joint venture Binaa Al...
Business

Hawkish economic approach on China has bipartisan support in US, say analysts

WASHINGTON, US  - In a shift from tit-for-tat tariffs and strong-arm tactics to tech restrictions and investment curbs, US policy towards...
Geostrategy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Geostrategy

Sudan economy falls victim to war between rival generals

With most banks out of service, the only exchange rate that matters to ordinary Sudanese is on the black market,...
  • The finance ministry of Sudan recently raised the exchange rate for imports and exports from 650 Sudanese pounds to 950
  • The World Bank in September said widespread destruction has set the country's development back by several decades
Economy

Bahrain to support ‘Arab tourism’ in order to boost cultural integration

Manama, Bahrain--Bahrain will support Arab tourism in order to enhance social, cultural and historical integration among Arab people, according to...
  • The minister told media the exercise would advance the contribution of the tourism sector to Arab countries’ national development
  • She said the kingdom will strengthen its position as an ideal destination for sustainable tourism in light of the diversity of its tourism services
Economy

‘Innovative startups key to national prosperity’

"Investing in youth, inspiring ideas, and transforming them into creative projects is a cornerstone for facing global challenges in many...
  • Sheikh Saud bin Saqr Al Qasimi emphasizes the role of modern technology startups in national economic growth and global competitiveness.
  • Entrepreneurship is seen as a crucial part of Ras Al Khaimah's economic strategy and a means to secure its position as a leading business hub.