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 fires new 50% tariff threat at EU, drawing stiff response

Washington, United States - President Donald Trump rekindled the US trade war on Friday, threatening to impose a 50 percent...

Economy

General Gulf inflation rate logs 1.7% by end of Dec 2024

Muscat, Oman -- The general inflation rate in the GCC countries rose by 1.7 percent at the end of December...

Business
Business

Emirates Group yearly profit $3bn

The group declared a dividend of $1.2 billion to its owner.
  • The Emirates airline business alone banked $2.9 billion after returning a $1.1 billion loss in the previous financial year.
  • The Middle East's biggest airline had posted a $5.5 billion loss for Covid-ravaged 2020-2021, its first in over three decades.
Business

HSBC sees great Middle East-China growth potential

Dubai, UAE: The economic potential of the Middle East-China trade corridor was the focus of discussion at an exclusive International...
  • HSBC hosted Chinese ambassador to the UAE Zhang Yiming and a senior delegation from the UAE China Business Council
  • Trade between China and the UAE reached a record high of $99.27 billion in 2022, marking an annual increase of 37.4%
Economy

Egypt’s headline inflation slows to 30.6% in April, first such drop in 9 months

Cairo, Egypt--Egypt's annual urban consumer inflation in April dipped to 30.6% from 32.7% in March, data from the state statistics...
  • Following a series of currency devaluations since March 2022, inflation in the North African country has gone up, fueled by shortage of foreign currency
  • According to Moody's, the slow implementation of its asset sale plan hobbles the country's foreign exchange liquidity and weakens trust in its currency
Economy

UAE’s GDP expected to have grown by 7.6% in 2022: CBUAE

Abu Dhabi, UAE-- The UAE's gross domestic product (GDP) is estimated to have grown 7.6 percent in 2022, shored up...
  • The bank said that in spite of the rise in global inflation, the UAE's remained below the average rate of 4.8 percent, with a decline expected in 2023
  • The report noted the bank's efforts to ramp up monetary stability, improve financial sector's resilience, and support economic activity in the UAE
Business

Dana Gas posts fall in profit

Its net profit fell 7 percent to US$50 million in Q1 of 2023.
  • Its revenue also plunged to $122 million in Q1 as against $140 million in the same period of last year
  • The company attributed the decline in revenue and net profit to a fall in energy prices from high levels
Economy

Rise of ChatGPT: GCC might lose 10 million jobs in 5 years

Its transformative power to reshape life has left people awestruck across the world, but the technology that powers ChatGPT might...
  • According to a Goldman Sachs economist, more than 65 percent of occupations will be partially or fully automated in the coming years
  • Critics of generative artificial intelligence that powers chatbots argue that it can never be able to replace the genius of human mind
Economy

Morocco, UK ink pact on climate action, clean energy, green growth

Rabat, Morocco: Morocco and the United Kingdom signed on Tuesday a Strategic Framework for Cooperation on climate action, clean energy...
  • The agreement aims to facilitate Morocco’s accelerated transition from fossil fuels to clean and affordable energy
  • It also aims at the systemic integration of climate action into government and private sector planning and action
Economy

Saudi Arabia leads Arab world in gold reserves

The Kingdom holds 323.1 tons of gold, accounting for 21.4% of the total yellow metal held by central banks in...
  • The Kingdom holds 323.1 tons of gold, accounting for 21.4% of the total yellow metal held by central banks in the Arab countries. Qatar, UAE and Kuwait are also regional leaders
  • Saudi Arabia and Oman have the majority of the natural gold mines in the GCC region. Saudi gold ore production, meanwhile, stood at around 430,000 ounces in 2022
Business

First-ever Dubai-Palestine business meet focuses on startups

Dubai, UAE - A delegation of Palestinian business executives including 21 start-up representatives visited Dubai Chamber of Digital Economy. It...
  • The event included demonstration of key steps to set up a digital-first business in Dubai, and trade opportunities with Dubai companies.
  • Participants at the event included Hashim Shawa, Chairman of Bank of Palestine Group, and; Linda Tarzi, Board Member at Bank of Palestine Group.
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

Trump fires new 50% tariff threat at EU, drawing stiff response

Washington, United States - President Donald Trump rekindled the US trade war on Friday, threatening to impose a 50 percent...
Economy

Company News

Latest News

Total M&A market drops to US$3.2trn in 2023, says report

DUBAI, UAE - The total M&A market dropped 15 percent, to US$3.2 trillion, the lowest level in a decade, as...
Business

GCC ministers hold discussion on food security in the region

Riyadh, Saudi Arabia--Jasem Mohamed Albudaiwi, Secretary General of the Gulf Cooperation Council (GCC), held a virtual meeting with ministers from...
Economy

GCC leaps into healthy aging with tech and policy

In the Gulf countries, a transformative journey toward healthy aging is underway, fueled by technological advancements and government initiatives, says...
Economy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Economy

Saudi Arabia sets $54m threshold for public-private partnership projects

Riyadh, Saudi Arabia - Saudi Arabia has revised the regulations of its Privatization Law, setting the minimum limit for a...
  • The amendments consist of 169 articles covering principles of privatization, minimum project values, and criteria for applying the system to privatization projects
  • Saudi Arabia initiated the privatization program in 2018 to boost the national economy, enhance the private sector's role, and allocate government assets efficiently
Economy

OPEC Fund offered US$1.7 bn in development funding in 2023

Vienna, Austria - The OPEC Fund for International Development allocated US$1.7 billion across 55 projects globally in 2023, providing funding...
  • The largest share in last year’s lending program was dedicated to policy-based-lending (31 percent).
  • The transport and storage sector received the major share of OPEC Fund’s support (14 percent)
Economy

Saudi Central Bank Governor discusses global economy in meeting with ECB chief

Riyadh, Saudi Arabia - The Saudi Central Bank Governor (SAMA) Ayman Al-Sayari discussed the recent developments in central banking and...
  • Several events were organized on the sidelines of the visit including a high-level panel discussion titled “Interconnectedness and Increasing Capital Flow.”
  • In addition, a seminar on "Women’s Empowerment within Central Banks” was conducted and featured speeches by SAMA’s governor and the ECB president