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.

Trump trade war pushes firms to consider stockpiling

Even if they don't all acknowledge it so openly, firms in many different sectors are stockpiling their products in the United...

Business

Trump eyes ‘fair deal’ with China, but path to ending tariff war remains unclear

Trade tensions between the world's two biggest economies have soared as Trump ramped up levies on imports from China this...

Economy
Economy

SCCA’s revised arbitration rules come into effect in Saudi Arabia

Riyadh, Saudi Arabia-- The Saudi Center for Commercial Arbitration (SCCA) has published the 2023 revised SCCA arbitration rules with effect...
  • With the publication of revised rules, SCCA court will become fully functional and replace the existing SCCA Committee for Administrative Decisions
  • According to SCCA, the new rules are in line with international standards in the arbitration industry followed by renowned institutions across the world
Business

Saudi Arabia seeks US$26bn of investment in machinery, equipment sectors

Riyadh, Saudi Arabia-- Saudi Arabia is looking to attract some US$26 billion dollars worth of investment in the machinery and...
  • The investment aims to give impetus to the National Industry Strategy that seeks to widen the industrial base, cut imports by up to 50% and push exports
  • NIDC, according to the minister, has partnered with the Public Investment Fund (PIF) to create a business model for taking advantage of the investment opportunities
Business

Morgan Stanley to cut 3,000 jobs after drop in profit

In the wake of reporting a drop in profit during the first three months of the year, the bank aims...
  • According to media reports, the bank at the end of last year trimmed nearly 2 percent of its staff or some 1,600 positions
  • Financial institutions have been hit hard by a slump in dealmaking caused by the Fed's fight against inflation and the banking crisis

Kuwait Crown Prince dissolves National Assembly, again

Kuwait City -  Kuwait's Crown Prince, Shaikh Mishal Al-Ahmad Al-Jaber Al-Sabah, issued a decree on Monday to dissolve the National...
  • Despite being the only Gulf Arab state to have an elected government, the emirate - one of the world's largest producers of crude oil - remains mired in political turmoil
  • The country suffers from constant stand-offs between elected lawmakers and cabinets installed by the reigning Al-Sabah family, which keeps a firm grip on political life
Geostrategy

Tunisia’s main workers union criticizes IMF loan talks

TUNIS, TUNISIA - Tunisia's largest union on Monday attacked the government's handling of negotiations with the International Monetary Fund (IMF) on...
  • Despite an agreement in principle on the loan, talks with the IMF have stalled for months over Tunisian President not committing to restructure public bodies.
  • The IMF has called for legislation to restructure over 100 state-owned firms, which hold monopolies over many parts of the economy.
Business

Over 3.8m passengers transit through Sharjah Airport in Q1 of 2023

SHARJAH, UAE -  Over 3.8 million passengers traveled through Sharjah Airport in the first quarter of 2023, recording a 28.01...
  • The aircraft movement in Q1 of 2023 rose by 9.02 per cent, with 23,261 flights compared to 21,336 flights during the same period in 2022.
  • There have been continued efforts by Sharjah Airport Authority to increase passenger numbers and aircraft movements.
Business

Eshraq to buyback shares

The share buyback is expected to enhance shareholder value.
  • The shareholders recommended Eshraq increase the shareholder distribution via an increased share buyback program.
  • The buyback will capitalize on the current share price discount compared to the company’s book value.
Business

AD Ports Group purchases bulk carriers, crude oil tankers

ABU DHABI, UAE -  AD Ports Group has announced plans to expand its fleet by purchasing five bulk carriers and...
  • These vessel acquisitions will follow the recently signed agreements as part of the Group’s strategic global expansion objectives.
  • The five bulk carriers, to be purchased for AED459 million, form part of the long-term agreement with Saif Powertec, signed in April 2022.
Economy

Qatar’s industry PPI down by 2.56 percent in March

The Planning and Statistics Authority (PSA) said Monday , the PPI of March 2023 for the Mining and Quarrying showed...
  • The PPI include four main industry sectors-- mining (82.46 percent), manufacturing (15.85 percent), electricity (1.15 percent) and Water (0.52 percent).
  • The prices decrease is seen in refined petroleum products by 2.39 percent, followed chemicals and chemical products by 0.95 percent
Business

US regulators seize First Republic Bank, sell to JPMorgan Chase

With its assets standing at $233 billion at the end of March, First Republic would be the second largest bank...
  • JPMorgan will assume "all deposits, including those uninsured, and a majority of the assets," California's Department of Financial Protection and Innovation said
  • First Republic had failed to come up with a workable rescue plan and last week disclosed that it had lost more than $100 billion in deposits in the first quarter

Trump trade war pushes firms to consider stockpiling

Even if they don't all acknowledge it so openly, firms in many different sectors are stockpiling their products in the United...
Business

Company News

Latest News

Riyadh Season 2023 on track to outshine previous edition with over 15m visitors

Riyadh, Saudi Arabia - Riyadh Season 2023 is poised to surpass the record set in 2021, with over 15 million...
Arts & Culture

US economy defy expectations to grow stronger in Q4 2023

Washington, US - US economic growth was stronger than expected in the final months of 2023, government data showed Thursday, offering...
Economy

ECB to urge patience on rate cuts in battle against inflation

The central bank is tipped to leave rates unchanged for a third consecutive meeting, keeping the benchmark deposit rate at...
Economy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Economy

Saudi Arabia set to launch advanced means of air mobility

Riyadh, Saudi Arabia - Saudi Arabia is planning to start air mobility that is most advanced and safest in the...
  • The Saudi General Authority of Civil Aviation is spearheading the Advanced Air Mobility (AAM) initiative that encompasses a spectrum of innovative solutions
  • The initiative seeks to ease traffic congestion, enhance accessibility to remote areas, and contribute to overall economic and social development
Economy

Global HQs help Saudi youth boost skills, get jobs

The presence of multinationals promises a transfer of expertise and skills, enhancing opportunities for Saudi youth and contributing to the...
  • The presence of multinationals promises a transfer of expertise and skills, enhancing opportunities for Saudi youth and contributing to the Kingdom's diversification.
  • Riyadh aims to become a global economic hub, drawing international experts and fostering knowledge transfer, with potential economic benefits estimated at $45 billion.
Economy

Real estate workforce in Saudi Arabia soars to 26,000 after localization push

Riyadh, Saudi Arabia - The Saudi real estate sector has witnessed a remarkable surge in local employment, boasting a substantial...
  • The significant 116% leap comes in the wake of the government's decision to prioritize the localization of the sector
  • The housing sector, in particular, benefits from substantial corporate support, with 21 initiatives worth over $181 million