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.

Egypt central bank lowers interest rate for first time since 2020

Egypt's central bank on Thursday announced that it was lowering interest rates for the first time since 2020, days after...

Economy

Why investors rush to gold in uncertain economic times?

London, United Kingdom -- Why do investors flock to gold when economic times turn tough? As the precious metal reaches...

Business
Business

Europe’s largest nuclear reactor begins operation in Finland

The most powerful nuclear reactor in Europe, with a capacity of generating 1,600 megawatts, Olkiluoto 3 reached full power in late...
  • Olkiluoto 3, now producing around 14 percent of the country's electricity, is expected to remain operational for "at least the next 60 years".
  • Built by Areva-Siemens consortium, the reactor was first started up in December 2021 and connected to the Finnish power grid in March 2022.
Business

Qatar Tourism head says country expects over 5m visitors in 2023

DOHA, QATAR - Qatar expects more than five million people to visit the Gulf state in 2023 despite a post-World Cup...
  • The head of Qatar Airways and Qatar Tourism admitted that hotels had fallen quiet after the World Cup final on December 19.
  • He insisted that every World Cup host has the same lull after the tournament and that hotels were still 65-70 percent full.
Economy

Iraqi government plans to reduce economy’s dependence on oil

BAGHDAD, IRAQ - Iraqi Prime Minister Muhammed S. Al-Sudani chaired a meeting focused on discussing the provisions of the federal...
  • The meeting discussed the provisions of the federal budget bill submitted to the Parliament.
  • The Iraqi PM highlighted the plans for enhancing development and advancing the economy.

Saudi Arabia transfers more Aramco shares to wealth fund in bid to ‘diversify’ economy

Prince Mohammed said the latest transfer will "solidify PIF's strong financial position". Authorities did not give a value for the...
  • The move, part of a campaign to open up the oil-rich kingdom's economy, follows a transfer of four percent of Aramco shares, estimated at the time to be worth $80 billion
  • The Saudi crown prince billed the move as part of a push "to boost and diversify the national economy and expand investment opportunities", according to the report
Economy

UAE has invested $5bn dollars in Brazil: UAE minister

Abu Dhabi, UAE - The UAE is among the largest international investors in Brazil, with an estimated US$5 billion in...
  • The two countries, have maintained a fruitful cooperation across many sectors such as industry, transportation, shipping, storage, infrastructure, etc
  • The UAE is Brazil's top trading partner in the Arab region, while Brazil is one of the Emirates' most important and recognized partners in Latin America.
Economy

G7 climate ministers pledge to end plastic pollution by 2040

A statement put out by G7 said the phase-out will be achieved by "promoting sustainable consumption and production of plastics,...
  • The G7 statement said the group remains committed to end plastic pollution, with the resolve to lower additional pollution to zero by 2040
  • According to the OECD group of developed countries, during the last 20 years plastic waste has doubled globally and only nine percent is recycled
Economy

Fire in Dubai apartment building kills 16, injures 9

Dubai, United Arab Emirates--A fire in a residential building in Dubai killed 16 people and injured nine others in the wealthy...
  • The fire, according to the civil defence force, was caused by a "a lack of compliance with building safety and security requirements"
  • The authorities, in 2017, adopted stricter building regulations to minimise the risk of fire, attributed mainly to flammable materials
Economy

US banks may become more cautious in granting loans: Yellen

Still predicting "moderate GDP growth, US treasury secretary has affirmed that the country's banks may be more cautious in granting...
  • Yellen told CNN that banks will be "somewhat more cautious" in their operations, including in issuing loans to households and businesses
  • But at press conference on Tuesday, Yellen indicated that she had "not really seen evidence at this stage suggesting a contraction in credit."
Geostrategy

Lula visit: Brazil, UAE seal climate, biofuels deals

They also announced a series of deals, including one for the UAE-controlled Mataripe refinery in northeastern Brazil to invest up...
  • The countries said in a joint statement the leaders had discussed a range of subjects including trade, technology, defense, aviation and food security
  • The strategically located Gulf monarchy is Brazil's second-largest trading partner in the Middle East, according to the official WAM news agency
Geostrategy

Brazil president reaches UAE to enhance bilateral ties

ABU DHABI, UAE - Brazilian President Luiz Inacio Lula da Silva arrived here Saturday, following a two-day visit to China to...
  • The UAE is Brazil's second-largest trading partner in the Middle East, according to reports.
  • Trade between the two trade excluding petrol totaled over US$4 million in 2022 - a 32 percent rise from 2021.

Egypt central bank lowers interest rate for first time since 2020

Egypt's central bank on Thursday announced that it was lowering interest rates for the first time since 2020, days after...
Economy

Company News

Latest News

World Economic Forum foresees ‘significant economic slowdown’

Davos, Switzerland--A new World Economic Forum report titled the Future of Growth Report 2024 foresees a significant economic slowdown, estimated...
World Economic Forum

Gold extends slide after Fed dampens March rate cut hope

Dubai, UAE - Gold prices extended losses on Wednesday as the US dollar strengthened after comments from a Federal Reserve...
Economy

Mawani reports rise in container handling

The growth aligns with the aims of national logistics strategy.
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Business

China’s economic recovery stalls as growth flags

The country's national bureau of statistics said that GDP grew 5.2 percent to hit 126 trillion yuan ($17.6 trillion) as...
  • But Wednesday's reading is an improvement on the three percent growth recorded in 2022
  • China's exports -- historically a key growth lever -- dropped last year for the first time since 2016
Economy

Saudi startups soar amid surge in venture investments

Saudi Arabia, which secured over 50 percent of MENA's total venture investments in 2023, strategically focuses on financial technology to...
  • Saudi Arabia, which secured over 50 percent of MENA's total venture investments in 2023, strategically focuses on financial technology to support Vision 2030,
  • The Saudi Venture Capital Company plays an important role, with more than $2.1 billion invested in various sectors, marking a new era of innovation and growth.
Business

Counterfeit products cost Europe $13 billion, 200,000 jobs a year

Paris, France - Counterfeit products -- mainly clothes -- cost the European economy 16 billion euros a year and result in...
  • The findings, based on data from 2018 to 2021, show that fakes take the biggest toll on the clothing sector, costing 12 billion euros ($13.1 billion) annually
  • The bulk of the counterfeiting occurred in just five EU members, with Germany, France, Italy, Spain and Austria accounting for half the yearly losses