INSEAD Day 4 - 728x90

Economy

Mashreq Q1 profit rises

Total revenue increased 10% year-on-year.

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.

Lebanon parliament approves changes to banking secrecy law

Beirut, Lebanon -- Lebanon's parliament on Thursday approved amendments to banking secrecy legislation, a key reform demanded by the International...

Geostrategy

Beijing slams ‘appeasement’ of US in trade deals that hurt China

China on Monday hit out at other countries making trade deals with the United States at Beijing's expense, promising countermeasures...

Economy
Business

US Fed accepts supervision failed in Silicon Valley Bank

The US Federal Reserve called for greater banking oversight while admitting to its own failures in a report published into...
  • Silicon Valley Bank's management failed to adequately manage risk prior to the bank's swift collapse.
  • Federal Reserve supervisors failed to take forceful action after they had identified issues at the bank.
Geostrategy

Uzbekistan, IsDB ink pacts worth US$396.7m for infrastructure, education

JEDDAH, SAUDI ARABIA  - Islamic Development Bank (IsDB) President and Group Chairman Dr. Muhammad Al-Jasser and Uzbekistan Minister of Investments,...
  • Under the agreement, IsDB will provide US$260 million in financing for the Integrated Rural Development Project.
  • The project will empower local communities, improve their access to quality and resilient infrastructure.
Business

KEZAD, Al Ghurair Foods ink pact

Pact involves investment of over US$272 million.
  • The agreement will mark the first phase of Al Ghurair Foods division’s investments in KEZAD.
  • The highest standards of food safety in line with International biosecurity standards will be followed.
Business

Swiss central bank says tough rules needed for sector

BERN, SWITZERLAND - Switzerland's central bank said Friday that the country's banking regulations needed toughening up after the implosion of Credit...
  • Credit Suisse's share price plunged on March 15, causing the central bank to step in with a $54-billion lifeline for the second-biggest bank in Switzerland.
  • The Swiss government, Swiss National Bank and the financial market regulator strongarmed UBS into a $3.25-billion takeover on March 19.
Geostrategy

UAE to take part in meeting with Arab finance ministers, experts

ABU DHABI, UAE - The UAE will participate in the Joint Annual Meeting of Arab Financial Institutions, which will be...
  • UAE will participate in the 52nd annual meeting of the Board of Governors of the Arab Fund for Economic and Social Development.
  • UAE will also take part in the 47th annual meeting of the Board of Governors of the Arab Bank for the Economic Development in Africa.
Business

DFM net profit surges 30% 

The consolidated revenue rose 13 percent to $24.2 million.
  • The total consolidated revenue rose 13 percent to $24.2 million in Q1 2023, compared to $21.4 million in Q1 2022.
  • Operating income amounted to $12.9 million, while investment returns and other income reached $11.3 million
Business

American Q1 profit at $10m

The airline's revenues were $12.2 billion, up 37 percent.
  • The strong first-quarter results will enable American to make profit-sharing payments to employees for the first time in three years.
  • With higher debt levels than rivals, American said it is around 60 percent through its goal of reducing debt by $15 billion by the end of 2025.
Market Report

Global stocks rise despite data showing US economic  slowdown

Wall Street stocks pushed higher despite data that showed US economic growth is slowing, which raised fresh questions about interest...
  • The first quarter growth figure adds to lackluster US consumer confidence data which has deepened worries about a broader recession.
  • Yields on US government debt rose after the data was released and also reported a drop in weekly jobless claims.
Business

FAB posts Q1 net profit of $1bn

Operating income increased by 51 percent year-on-year.
  • The Q1 net profit rose by 60 percent sequentially, leading to an annualized Return on Tangible Equity of 18.5 percent.
  • The cost-to-income ratio improved to 25.1 percent, compared to 33.2 percent in the same quarter last year.
Economy

Strong first-quarter Meta earnings push Wall Street stocks up

Meta reported a profit of $5.7 billion in the first quarter of this year, beating forecasts after a massive wave...
  • About 30 minutes into trading, Meta was up around 15 percent, while all three major US indices were in positive territory.
  • The broad-based S&P 500 advanced 0.8 percent to 4,087.37, while the Nasdaq Composite Index climbed 0.9 percent to 11,960.26.

Lebanon parliament approves changes to banking secrecy law

Beirut, Lebanon -- Lebanon's parliament on Thursday approved amendments to banking secrecy legislation, a key reform demanded by the International...
Geostrategy

Company News

Latest News

Saudi Arabia expects to attract 150 million visitors by 2030

Riyadh, Saudi Arabia - Saudi Arabia aims to attract 150 million visitors by 2030, with the tourism sector expected to...
Economy

Rising costs, debt challenges grip Egypt’s economy

Egypt begins 2024 with steep increases in essential services' prices, exacerbating the economic strain on its citizens amidst a broader...
Economy

ASFAR, Municipality of Al-Ahsa sign agreement

RIYADH, SAUDI ARABIA - ASFAR, the Saudi tourism investment company wholly owned by the Public Investment Fund of Saudi Arabia,...
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Economy

European Central Bank to signal no rush to cut interest rates

The Frankfurt institute is tipped to pause for the third meeting in a row following a historic run of hikes...
  • The ECB is "in no rush yet" to change course and governors may not even discuss cuts at this week's meeting, Deutsche Bank economists wrote
  • "We expect Thursday's ECB press conference to again highlight the exceptionally low possibility of a rate cut before the summer," agreed Unicredit in an analyst note
Economy

Saudi Arabia lists priority specializations for Special Talent Residency

Riyadh, Saudi Arabia - Saudi Arabia's Premium Residency Center on Sunday revealed a list of priority specializations that qualify individuals...
  • Saudi Arabia is actively seeking to attract top-tier talents and minds globally, encouraging them to reside and work in the country to foster development
  • The specified specializations that make expatriates eligible for Special Talent Residency encompass a diverse range of sectors
Business

Quiet and not-so-quiet luxury at Paris Fashion Week

PARIS, FRANCE - The Paris Fashion Week menswear shows draw to a close on Sunday. Here are some of the highlights...
  • Celebrity presence has always been a big part of the fashion game, with sporting tie-ups playing an increasingly big role.
  • New York label KidSuper scored big by convincing Brazilian footballer Ronaldinho to walk the catwalk.