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.

The game of ‘chicken’ being played with the world economy can be brought to a cooperative end

A meaningful “G3” accord between the US, Europe, and China must include coordinated fiscal, monetary, development, and trade policies. From...

Economy

UAE foreign trade increases by 49% to reach $1.42 trillion in 2024

The UAE climbed from 17th to 11th globally in merchandise exports and from 18th to 14th in imports between 2021...

Economy
Economy

US growth rate slows in Q1 as recession fears rise

US economic growth lost steam in the first quarter this year, said the Commerce Department, as the possibility of a...
  • US gross domestic product rose at an annual rate of 1.1 percent in the January to March period, down from 2.6 percent in the fourth quarter last year.
  • The GDP growth figure "reflected increases in consumer spending, exports, federal government spending," said the US Commerce Department.
Business

Barclays Q1 net profit at $2.2bn

The bank's profit was boosted by rising interest rates.
  • Pre-tax profit rallied 16 percent to $3.2 billion, making Barclays the biggest gainer on London's top-tier shares index.
  • The Bank of England and its global counterparts have ramped up interest rates to tackle sky-high inflation.
Economy

Gulf countries build on unprecedented megaprojects

Four out of nine ongoing megaprojects worldwide, with costs exceeding $100 billion each, are concentrated in the Arab Gulf States,...
  • Four out of nine ongoing megaprojects worldwide, with costs exceeding $100 billion each, are concentrated in the Arab Gulf States, a latest report highlights
  • The first construction megaproject with a cost exceeding $1 trillion is expected to emerge by the end of the decade, the latest 1Build report points out
Business

One in five cars sold this year will be an electric vehicle: IEA

The International Energy Agency (IEA) said the rapid electrification of road transportation will have big implications for the energy industry as...
  • In its annual report on electric vehicles, the IEA said it expects annual sales to rise 35 percent this year to reach 14 million.
  • The IEA said the overwhelming majority of electric car sales are concentrated in three markets: China, Europe and the United States.
Economy

India to connect its power grid with Saudi Arabia, UAE

New Delhi, India--India is looking to connect its power grid with Saudi Arabia and the UAE by way of undersea...
  • The agreements between India and Saudi Arabia and the UAE are expected to be signed once the Indian cabinet ratifies the decision
  • In January this year, India and the UAE said they will conduct a feasibility study to link up their power grids through underwater cables
Economy

Bahrain’s real GDP grows by 4.09% in Q4 2022

Manama, Bahrain - Bahrain has reported a 4.09 percent increase in its real GDP in the fourth quarter of 2022...
  • The high-achieving sectors include the financial corporations sector which grew by 8.22 percent and the trade sector, which increased by 6.57 percent
  • With 18.57 percent of the GDP, the financial corporations sector contributed the most to Bahrain's economy, followed by the crude oil and natural gas sectors
Economy

Jordan urges financial support to UNRWA for refugee relief

Amman, Jordan - Jordan has urged the international community to provide urgent financial support to the United Nations Relief and...
  • The call was made by Jordanian Foreign Minister Ayman Safadi during his meeting with UNRWA Commissioner-General Philippe Lazzarini in Jordan on Tuesday
  • They discussed efforts to bridge the financial deficit and ensure that the agency can continue to provide education, and relief aid to Palestinian refugees
Economy

‘Sustainable supply chains, global ties crucial’

The Gulf country has introduced several initiatives to support and promote international economic partnerships, including the comprehensive economic partnership agreements...
  • The UAE aims to promote global economic cooperation and enhance openness to the world, says its Economy Minister Abdullah Bin Touq Al Marri
  • The Gulf country focuses on creating investment opportunities in new economy sectors and supporting sustainable supply chains, the minister adds
Economy

MENA startups show resilience despite challenges

While 67 deals totaling $247 million in funding were reported in March 2023, the total capital raised in Q1 2023...
  • While 67 deals totaling $247 million in funding were reported in March 2023, the capital raised in Q1 2023 surpassed $1.1bn, marking a 17% rise over the last quarter
  • The financial technology industry emerged as the most attractive sector, receiving 73% of venture capital activity, highlights Wamda's March report
Economy

Abu Dhabi Festival celebrates 20 years with record number of visitors

Abu Dhabi, UAE— More than 20,000 people visited the 20th edition of Abu Dhabi Festival in the first twenty days...
  • Over 20,000 visitors attended the festival in March that saw nine performances by different artists, composers, and musicians
  • The local Emirati singer and rising star Rashed Al Nuaimi gave a performance during the festival’s opening night

The game of ‘chicken’ being played with the world economy can be brought to a cooperative end

A meaningful “G3” accord between the US, Europe, and China must include coordinated fiscal, monetary, development, and trade policies. From...
Economy

Company News

Latest News

Bahrain Q4 2023 imports increase to US$3.92bn

MANAMA, BAHRAIN - The Information eGovernment Authority (iGA) has published its foreign trade report of Bahrain for Q4 2023, covering...
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...
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...
Economy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Business

UAE foreign investment projects second highest in world: UNCTAD

Abu Dhabi, UAE -- The UAE recorded the second-highest increase in the number of new foreign investment projects around the...
  • The number of these projects increased by 28 percent compared to 2022, said the UNCTAD report entitled “Investment Trends Monitor”.
  • Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, emphasized that the UAE is benefiting from the forward-looking vision of its leadership.
Business

ArcelorMittal wants ‘amicable solution’ on Italy steelworks

ROME, ITALY - ArcelorMittal has offered to sell its stake or become a minority shareholder in an Italian steelworks after Rome...
  • Italy considers the steelworks a strategic asset, but it has long been plagued by financial problems and environmental concerns.
  • Talks with ArcelorMittal, which owns a 62-percent stake, had broken down over how to keep production going.
Business

Saudi GACA issues air carrier, airport classifications for December 2023

RIYADH, SAUDI ARABIA - The General Authority of Civil Aviation (GACA) issued its monthly classification index for air transport service...
  • Flynas had the fewest complaints among airlines, 42 per 100,000 travelers and a complaint resolution rate of 100 percent.
  • SAUDIA Airlines came second, with 61 complaints per 100,000 travelers and a resolution rate of 99 percent.