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.

Google makes case for keeping Chrome browser in US court

Washington, United States - Google on Friday urged a US judge to reject the notion of making it spin off...

Business

United Kingdom renationalizes first train operator under Labor reforms

London, United Kingdom -- Britain's South Western Railways on Sunday becomes the first private train operator to be returned to...

Economy
Economy

European economy expands less than previous estimates

On Monday, the European Commission boosted its 2023 economic growth outlook for the 20-country euro area by 0.2 points to...
  • The European Union of 27 members registered a growth of 0.2% in Q1, in comparison to the first quarter of 2022, where it grew at 0.3%.
  • The European Commission has forecast a rate of 5.8% for inflation in the current year, slightly above its prediction of 5.6% previously.
Economy

China sets economic growth target of 5% in 2023

Beijing, China - China has set a growth target of approximately 5 percent for the Gross Domestic Product (GDP) as...
  • Government Work Report also sets an ambitious goal of generating 12 million urban jobs this year, surpassing the previous year's benchmark of at least 11 million
  • The country's GDP experienced a growth rate of 4.5% in the first quarter of 2023 marking the highest growth since the first quarter, according to National Bureau of Statistics.
Business

Saudi Arabia’s per capita insurance spending up 30%

The majority of per capita insurance spending (60%) went towards health insurance, followed by general insurance (37%) and protection and...
  • Health insurance accounted for 60 percent of total per capita spending on insurance, followed by general insurance (37%) and protection and savings (3%).
  • The health insurance’s gross written premiums stood at $8.59 billion in 2022, up 27 percent from $6.78 billion in 2021
Economy

Moody’s upgrades Oman’s credit rating to Ba2 with positive outlook

Muscat, Oman - Moody's has upgraded Oman's credit rating from Ba3 to Ba2 while maintaining a positive outlook due to...
  • Moody's attributed the upgrade and the rise in public revenues to the government's demonstrable efforts to manage its finances
  • Earlier in April, the World Bank said Oman is expected to have the fastest-growing economy in the GCC region in 2023
Business

Central Bank of Bahrain Sukuk Al-Salam securities oversubscribed 197%

Manama, Bahrain--The Central Bank of Bahrain (CBB) announces that the monthly issue of the Sukuk Al-Salam Islamic securities has been...
  • Carrying a maturity period of 91 days, subscriptions worth $225 million were received for the BD 43 million issue
  • The issue, which begins on May 17 and matures on August 16, is expected to a give a return of 6.15 percent
Economy

UAE ministry calls on eligible employees to subscribe to the low-cost job security net

Dubai, UAE – The UAE Ministry of Human Resources and Emiratisation (MoHRE) has called on eligible employees to subscribe to...
  • The Unemployment Insurance Scheme covers employees in the federal government sector and the private sector, divided in two categories
  • The insurance compensation can be claimed as long as the employee has subscribed to the Unemployment Insurance Scheme for at least 12 consecutive months
Geostrategy

Qatar and Bahrain to restart flights in signs of improving relations

Dubai, UAE-- Qatar and Bahrain have agreed to restart flights toward the end of the month, in a sign of...
  • The resumption of flights between the estranged countries, according to Bahrain News Agency, falls within "the framework of the brotherly relations between the two countries
  • In recent months, GCC countries have patched up differences with each other and begun to focus on their economies, taking advantage of high oil and gas prices
Economy

Turkey’s quake-hit economy to grow less this year: EBRD bank

The EBRD forecasts Turkish GDP will expand 2.5 percent this year, cutting prior guidance of 3.0 percent and citing the...
  • EBRD chief economist Beata Javorcik said that Turkey has been prioritising growth over macroeconomic stability over the last many years
  • European Bank for Reconstruction and Development forecast that Russian economy will shrink 1.5%, compared with a previous estimate of a 3.0% contraction
Business

Iran invites UAE businesses to invest in transportation projects

Abu Dhabi, UAE-- Iran is keen to boost transportation ties with the UAE and has invited investors from the country...
  • Mehrdad Bazrpash, Iran Minister of Roads and Urban Development, met with Sheikh Mansour Bin Zayed Al Nahyan, Vice President of the UAE in Abu Dhabi
  • The Iranian minister also met with Qatari Minister of Transport Jassim bin Saif bin Ahmed Al Sulaiti and both emphasized the need for expansion of relations
Science

UAE issues decree on use and distribution of hydrofluorocarbons

Dubai, UAE-- The UAE's Ministry of Climate Change and Environment has issued a decree on the use and distribution of...
  • Referred to as refrigerant gases responsible for intensifying global warming and depletion of the ozone layer, HFCs are categorized among greenhouse gases
  • The UAE has been at the front of attempts to restore the ozone layer's protective capacity since joining the Convention in 1989 and the Protocol in 1990

Google makes case for keeping Chrome browser in US court

Washington, United States - Google on Friday urged a US judge to reject the notion of making it spin off...
Business

Company News

Latest News

European stocks firm as markets await US inflation data

London, United Kingdom - Europe's main stock markets steadied Friday as traders reacted to more earnings updates from top companies, while...
Business

DMCC witnesses 10 percent rise in US companies in 2023

DUBAI, UAE – DMCC successfully concluded its most recent Made for Trade Live tour of the US, hosting events in...
Business

OPEC Fund grants US$30m loan to Uganda to build key road link

Vienna, Austria--The OPEC Fund for International Development (OFID) has granted a US$30 million loan to support the development of a...
Economy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Business

stc Group inks several pacts

The pacts were signed at the PIF’s Private Sector Forum.
  • The annual Private Sector Forum brings together policymakers, key local private sector players, visionaries and industry leaders.
  • The agreements signed covered a range of strategic stc Group objectives, from sustainability to digital transformation.

‘Innovation is crucial for UAE’s energy efficiency’

"Through effective and constructive collaboration with various local and international partners, we have succeeded in establishing an integrated energy transition...
  • The UAE's Department of Energy's integrated system focuses on clean and renewable energy to achieve climate neutrality.
  • Investment in youth and their innovative ideas is essential for building a sustainable future, says DoE's Awaidha Murshed Al Marar .
Economy

Saudi Crown Prince says will work for Gulf unity and prosperity of its people

Riyadh, Saudi Arabia — Saudi Crown Prince Mohammed bin Salman on Wednesday said he will make efforts to achieve the unity...
  • Mohammed bin Salman said this while co-chairing the 3rd meeting of the Saudi-Bahraini Coordination Council with his Bahraini counterpart
  • The two leaders witnessed the announcements about key joint projects and signing of a number of agreements and memoranda of understanding