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.

Tehran says no objection to US investment in Iran

Iranian Foreign Minister Abbas Araghchi said Thursday that Tehran has no objection to US companies operating in the country, including...

Economy

Trump hails ‘total reset’ in US-China trade relations as talks continue

Geneva, Switzerland - US President Donald Trump hailed a "total reset" in US-China trade relations, ahead of a second day...

Economy
Economy

Qatar’s inbound visitors see 183% rise in March

Doha, Qatar - Inbound visitors to Qatar surged by 183.5 percent YoY in March, according to the 111th issue of...
  • The total number of visitors reached 433,000 in the month, a rise of 11% over February
  • Gulf Cooperation Council visitors accounted for the highest number at 38%

Global energy firms must pay up to prevent spill: Yemen company

To prevent a damaging oil spill in the Red Sea, the UN Development Programme in March took the unprecedented step...
  • Hayel Saeed Anam Group, which in August contributed $1.2 million to UN clean-up campaign, made the appeal hours before a virtual donor conference hosted by Britain and Netherlands
  • The Safer's 1.1 million barrels contain four times as much oil as that spilled in the 1989 Exxon Valdez disaster off Alaska, one of the world's worst ecological catastrophes
Business

Abu Dhabi’s property market records sales worth US$7.62bn in Q1

Abu Dhabi, UAE--The property market in Abu Dhabi has recorded 5,472 property sales and mortgages valued at US$7.62 billion in...
  • The emirate recorded a 147 percent jump in the value of real estate transactions during the first quarter of 2023 compared to the same period of last year
  • The Department of Municipalities and Transport has reported an increase in the value of mortgage transactions to $3.18 billion during the first quarter
Business

UAE and Jordan sign MoU to boost tourism, cultural exchange

Abu Dhabi, UAE--Looking to boost tourism and cultural exchange between the two countries, the Department of Culture and Tourism Abu...
  • The deal will bolster tourism and economic cooperation between the two nations, driving growth in leisure traffic in key markets
  • The partnership entails starting initiatives like joint sales workshops, training, roadshows to improve partner engagements and cultural exchange
Economy

‘UAE deals with around 50,000 cyberattacks daily’

"These proactive efforts play a vital role in protecting the country's digital sphere and ensuring a secure environment for critical...
  • The UAE Cyber Security Council collaborates with partners to deter over 50,000 cyberattacks daily targeting critical national sectors, says its head
  • Banking, financial, health, oil, and gas sectors are frequently targeted, but attacks are efficiently countered to safeguard the UAE's digital sphere

GCC central banks align rates with US Fed Reserve

The regional apex banks -- including the CBUAE, SAMA, CBB, and QCB -- have raised rates by 25bps in response...
  • The regional apex banks -- including the CBUAE, SAMA, CBB, and QCB -- have raised rates by 25bps in response to the US Fed's decision to increase its benchmark lending rate
  • Saudi Arabia's SAMA has increased its Repo rate to 5.75% and Reverse Repo to 5.25%, while the CBUAE has raised its ODF from 4.90% to 5.15%, effective from May 4, 2023
Business

Airbus Q1 net profit at $514m

The company delivered 127 aircraft in Q1 of 2023.
  • Revenues generated by Airbus' commercial aircraft activities decreased by five percent year-on-year.
  • The company's defense and space unit saw revenues drop by six percent, while the helicopter unit jumped by 26 percent.
Business

EITC posts Q1 revenue at $936m

Revenue is due to demand for fixed, mobile services.
  • The prepaid customer base of EITC increased to 6.7 million, driven by the continued attractiveness of Flexi plans and brisk tourism activity.
  • EITC's commercial initiatives led to a 9.4 percent increase in mobile customers, with 8.2 million subscribers at the end of the quarter.
Geostrategy

Guarantee security for Sudan aid deliveries, asks UN

The United Nations called for security guarantees at "the highest level" to ensure aid deliveries in Sudan, after trucks carrying...
  • UN's top humanitarian official said the global body had a plan for delivering aid and supplies to address the dire situation in Sudan.
  • UN's top humanitarian official said, "We will need to have agreement at the highest level and very publicly".
Economy

MENA region’s growth may decelerate this year: IMF

Oil exporters are set to experience slower growth due to a shift from oil to nonhydrocarbon activities, says Jihad Azour,...
  • Oil exporters are set to experience slower growth due to a shift from oil to nonhydrocarbon activities, says Jihad Azour, Director of IMF's Middle East and Central Asia Department
  • Growth in the region's emerging markets is also expected to fall from 5.1% in 2022 to 3.4% in 2023 due to tighter monetary and fiscal policies, suggests the latest IMF report

Tehran says no objection to US investment in Iran

Iranian Foreign Minister Abbas Araghchi said Thursday that Tehran has no objection to US companies operating in the country, including...
Economy

Company News

Latest News

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...
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...
Business

Dubai is a key player in global business landscape

"The emirate is continuing to consolidate its position as an ideal platform that brings together creative ideas and innovative entrepreneurs...
Economy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Business

Norway’s sovereign wealth fund posts record US$213bn profit

Oslo, Norway - Norway's sovereign wealth fund, the world's biggest, said Tuesday it raked in a record profit of 2.2 trillion...
  • Fueled by revenues from Norway's state-owned oil and gas companies, the fund is aimed at financing future spending in the generous welfare state
  • Around 71 percent of its portfolio was dedicated to equities, with stakes in 8,859 companies worldwide -- or 1.5 percent of all listed stocks
Economy

IMF lifts global growth forecast citing unexpected ‘resilience’

The updated figure, released in the latest World Economic Outlook (WEO) report, is 0.2 percentage points higher than the International...
  • Among G7 advanced economies, growth in European countries looks set to remain weak, reflecting ongoing challenges, while Japan and Canada are expected to fare slightly better.
  • While many Asian economies remain buoyant, Europe continues to cast a long shadow over the global outlook, with the IMF highlighting "notably subdued growth in the euro area."
Business

25,647 new economic licenses issued in Abu Dhabi in 2023, says ADDED report

ABU DHABI, UAE - The Abu Dhabi's “Business Activity Report” for the year 2023, issued by the Abu Dhabi Department...
  • 24,143 commercial sector licences were issued in 2023, comprising 94.1 percent of the total.
  • Active licences in Abu Dhabi rose to 143,617, a growth of 10.9 percent compared to the year 2022.