INSEAD Day 4 - 728x90

Economy

TECOM profit climbs

High occupancy across assets boosts earnings.

Emirates Stallions Q1 revenue up 11%

The rise helped by strong demand in real estate

ADNOC Distribution 2025 dividend $700m

The company had reported EBITDA of $1.17 bn in 2025.

Empower okays $119.1m H2 2025 dividend

The dividend is equivalent to 43.75% of paid-up capital.

Alujain widens 2025 loss

The increase in loss is due to impairment charges, weaker prices.

Warren Buffett says will retire from Berkshire Hathaway by year’s end

Buffett transformed Berkshire Hathaway from a medium-sized textile company when he bought it in the 1960s into a giant conglomerate,

Economy

Slower growth expected in MENA region in 2025: IMF

"Growth is still projected to increase in 2025 and 2026, but at a considerably slower pace than anticipated last October,"...

Economy
Geostrategy

Oman to ramp up ‘military and defense industry’ ties with Iran

Tehran, Iran-- Oman is keen to improve the military and defense ties with Iran in order to ensure the security...
  • Sultan of Oman underscored the importance of developing military and defense industry cooperation between the two countries
  • The visiting Iranian Major General Mohammad Bagheri termed Tehran-Muscat relations as stable and positive
Business

ADNIC records 17% profit rise

The firm's net profit soared to US$27.14mn in Q1 of 2023.
  • The insurance company's total revenue took a dive to $273 million in Q1 of 2023 from $300 million for the same period in 2022
  • Its net income from investment however shot up 94.0% to $12.60 million compared to $6.50 million for the same period in 2022
Business

Saudi Arabia, South Korea sign two MoUs for mobility, road projects

Riyadh, Saudi Arabia--Saudi Arabia and South Korea have signed two agreements on Tuesday for future mobility and roads in the...
  • The agreements between the two countries will boost cooperation in mobility and innovation in the transport and logistics services sectors
  • Both the countries will, in accordance with the spirit of the agreement, exchange experiences to solve challenges in adopting modern technologies
Economy

Qatar, Spain launch innovation program to support collaborative research

Doha, Qatar: Qatar and Spain have launched the Qatar Spain Innovation Program (QASIP), a joint venture between the Qatar Research,...
  • The program aims to support collaborative research and development projects in energy, health, resource sustainability, and digital technology
  • The program is the first fruit of cooperation between the QRDI Council and CDTI, following a MoU signed by Qatar and Spain in 2022
Business

Central Bank of Oman issues treasury bills valued at US$36.35 million

Muscat, Oman--The Central Bank of Oman (CBO) has raised $36.35 million by way of allotting treasury bills on Tuesday, the...
  • According to the central bank, the value of the allotted treasury bills amounted to $26 million, for a maturity period of 28 days
  • The bank added in a statement that the allotted treasury bills amounted to $10.38 million for a maturity period of 91 days
Economy

UAE growing EV charging stations from 500 to 800

Abu Dhabi, UAE -  The UAE is growing the number of Electric Vehicle (EV) charging stations from 500 to 800...
  • Recent years have seen the UAE make a push towards adoption of electric vehicles
  • The country's EV market is expected to grow at a CAGR of 30 percent until 2028
Economy

GCC project awards surge despite economic challenges

Saudi Arabia remains the largest projects market in the GCC as the total value of contracts awarded increases by 54.7...
  • Saudi Arabia remains the largest projects market in the GCC as the total value of contracts awarded increases by 54.7 percent YoY during Q1-2023 to US$29.9bn, says a latest report
  • The GCC's construction sector is set to take the lion's share of project awards in 2023, even as water, petrochemical, and power sectors may also perform well, adds the report
Economy

UAE begins talks with Thailand under CEPA to boost trade

Seeking to widen its foreign trade and grow national economy, the UAE has signed Comprehensive Economic Partnership Agreement (CEPA) negotiations...
  • The UAE has signed four agreements with India, Israel, Indonesia and Turkey, with the first two having already come into force
  • The country is holding negotiations with many other nations in the neighborhood and beyond to arrive at similar agreements
Economy

Fed Reserve must stop raising rates for three reasons

There are three reasons why the Fed should not increase interest rates further: First, the US financial system is still...
  • US inflation progress expected to stall despite robust labor market. Fed should avoid further rate hikes and focus on supporting the economy
  • The Bureau of Labor Statistics may report higher prices for core goods, driven by rising vehicle prices, counteracting cooling effect in other sectors
Business

Carrefour now opens in Israel

French retailer is first foreign supermarket chain in Israel.
  • Simmering rage over costs and income inequality dominated the country's elections in November.
  • Inflation hit 5.2 percent year-on-year, the central bank said in April, a record high for Israel in over a decade.

Warren Buffett says will retire from Berkshire Hathaway by year’s end

Buffett transformed Berkshire Hathaway from a medium-sized textile company when he bought it in the 1960s into a giant conglomerate,
Economy

Company News

Latest News

Spain urges WTO meet in UAE to address de-globalization

ABU DHABI, UAE - Madrid wants the upcoming 13th Ministerial Conference (MC13) of the World Trade Organization (WTO) here next...
Business

GCC central banks mimic Fed, hold interest rates steady

Abu Dhabi, UAE--In a significant move that underscores the interconnectedness of global monetary policies, central banks across the Gulf Cooperation...
Economy

Egypt grapples with dollar crunch as debt explodes

With inflation up at 35 percent, and amid a severe foreign currency crunch, the Egyptian pound is plunging and the...
Economy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Interview

WEF24: Geopolitical upheaval to affect global economy

Geopolitical tensions, including the Russia-Ukraine conflict, Middle East unrest, and China-Taiwan ties are key economic disruptors, says Bill Browder of...
  • Geopolitical tensions, including the Russia-Ukraine conflict, Middle East unrest, and China-Taiwan ties are key economic disruptors, says Bill Browder of Hermitage Capital.
  • Economic outlook remain tough with inflation-growth conflict as US stays stable, Europe stagnant, and China slowing, spotlighting on central banks' strategies, he adds.
Business

Global stock markets swing ahead of Fed’s latest rate decision

"Markets are eagerly anticipating today's meeting from the Federal Reserve with traders looking for signs over whether a March rate...
  • London and Paris rose but Frankfurt fell near the half-way stage, after a mixed showing in Asia. The dollar edged higher against the euro and yen
  • Investors are hoping the Fed will begin cutting rates soon after hiking them to their highest level in more than two decades to combat inflation
Business

Qatar awards $6bn in contracts for Al-Shaheen oilfield expansion

The four engineering, installation and procurement contracts will increase production at the Al-Shaheen oilfield -- the country's largest -- by...
  • Al-Shaheen currently produces 300,000 barrels per day and is operated through the North Oil Company, a joint venture between QatarEnergy and France's TotalEnergies.
  • QatarEnergy said the third phase of expansion at Al-Shaheen, which began production in 1994, will be implemented over five years.