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.

Damascus, Ankara agree natural gas deal for Syria

Damascus, Syria - Syrian Energy Minister Mohammad al-Bashir said Friday Damascus and Ankara had reached a deal for Turkey to...

Economy

Trump’s next 100 days: Now comes the hard part

In a dizzying first three months, Trump wielded executive power like no other modern president, signing more than 140 orders...

Economy
Business

ADDED ink deal with Wio Bank to aid SMEs growth

ABU DHABI, UAE - The Abu Dhabi Department of Economic Development (ADDED) and Wio Bank announced on Tuesday that would...
  • In less than 48 hours, Wio will help set up corporate accounts for SMEs licensed by ADDED and provide an up-to-date view of their financials.
  • Wio will work with Abu Dhabi Residents Office, Abu Dhabi SME Hub, and TAMM, Abu Dhabi Government Services, to extend banking and business services.
Economy

DEWA, RTA ink deal to sponsor Green Economy Summit

Dubai, UAE - Dubai Electricity and Water Authority (DEWA) has signed a sponsorship agreement with the Roads and Transport Authority...
  • RTA will be the Platinum Sponsor of the World Green Economy Summit for three sessions from 2023-2025.
  • The World Green Economy Summit plays a fundamental role in supporting the UAE’s outstanding efforts in climate action, said DEWA chief.
Business

Novartis Q1 profit at $2.3bn

Heart disease, cancer medicines helped enhance revenue.
  • Novartis said that its operating profit would likely increase in the high single-digits this year.
  • The group would prioritize "high-value" medicines" across five core areas to drive its productivity.

Iran claims foreign demand for its military equipment has gone up

Tehran, Iran— Claiming that Iran has received numerous “requests” from different countries for purchase of its defense equipment and cooperation,...
  • Iran could not purchase weapons from outside because of the Western sanctions, but today it can produce them on its own
  • The Islamic Republic has succeeded in keeping the country’s military and commercial jets airborne in spite of the sanctions
Economy

UAE to invest US$160bn in new economy sectors in next 30 years

London, UK— The UAE is looking to invest US$160 billion in the new economy sectors like renewable energy over the...
  • The country began financing clean energy projects more than 15 years ago, and has made investments to the tune of $40 billion
  • The UAE is seeking to lure $136 billion in foreign direct investment in the new economy sectors by 2030, the minister of economy said
Economy

ADB operations cross $20bn

Financial results were published in ADB’s Annual Report 2022.
  • The $20.5 billion comprised loans and guarantees, grants, and equity investments provided to governments and the private sector
  • The bank made wide-ranging investments in quality infrastructure as well as in education, health, and other social sectors
Economy

Private sector sees 13% increase in Emirati workers

More than 10,500 Emiratis have joined the private sector since the beginning of 2023, bringing the total number of Emiratis...
  • More than 10,500 Emiratis have joined the private sector since the beginning of 2023, bringing the total number of Emiratis employed in the private sector to over 66,000
  • Trends point to a positive job market outlook as employment experts predict an average increase of 2-5 percent in employee salaries in 2023, varying by sector and role
Business

Saudi Fund for Development to provide $130m loans to Kyrgyzstan

Two loan agreements were signed in the Kyrgyz capital Bishkek by the SFD CEO Sultan bin Abdulrahman Al-Marshad with the...
  • The first agreement worth $100 million involves financing the construction of 3000 housing units covering an area 255,000 square meters.
  • The second agreement is related to financing of the Taraz-Talas Road Project (Phase 4), which aims to reconstruct 93 km of road to improve road safety.
Business

Maqta Gateway buys TTEK

The total acquisition cost comes to US$26.7 million.
  • This move will reinforce Maqta Gateway's market position as a leading digital trade and holistic single window solution provider.
  • TTEK’s solutions use over 1.5 million risk indicators and AI predictive modeling to establish more reliable border security controls.
Business

Qatar expects Eid bonanza, hotel occupancy rates to go up 80%

Doha, Qatar-- Qatar expects a big boost in hotel occupancy rates by at least 80 percent during the Eid holidays...
  • Qatar aims to have at least six million visitors annually and raise the contribution of the tourism sector to the country's GDP to 12 percent by 2030
  • Visitors can now apply for a visa using a single platform, on which they can submit their visa applications and then receive the travel documents

Damascus, Ankara agree natural gas deal for Syria

Damascus, Syria - Syrian Energy Minister Mohammad al-Bashir said Friday Damascus and Ankara had reached a deal for Turkey to...
Economy

Company News

Latest News

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

Dubai wins right to host 349 business event in 2023

DUBAI, UAE - Dubai consolidated its status as a central hub for international business events in 2023, with the city...
Business

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...
Economy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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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
Business

IsDB discusses collaboration with China’s ICBC and BOC

Jeddah, Saudi Arabia -- President of the Islamic Development Bank (IsDB) Muhammad Al-Jasser held today held discussions with senior officials...
  • The ICBC Bank Chief Business and Management Officer Wang Kun, expressed interest in the sukuk (Shariah-compliant bonds) market
  • The BOC's Chief Business and Management Officer discussed strengthening collaboration in treasury activities, stock, and capital markets
Economy

Abu Dhabi establishes Artificial Intelligence and Advanced Technology Council

Abu Dhabi, UAE-- The UAE President Sheikh Mohamed bin Zayed Al Nahyan has issued a law, as the ruler of...
  • The council has been set up to develop policies and strategies related to research, infrastructure and investments in AI in Abu Dhabi
  • It will formulate plans in collaboration with local and global partners to enhance Abu Dhabi's status in the fields of artificial intelligence