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.

Saudi Arabia and Qatar to settle Syria’s World Bank debt

Riyadh, Saudi Arabia -- Saudi Arabia and Qatar announced on Sunday that they would settle Syria's debt to the World...

Geostrategy

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
Economy

US consumer inflation slows to 5% in March year-over-year

US consumer inflation slowed in March lessening the pressure on the Federal Reserve to maintain its aggressive posture to cool...
  • Bureau of Labor Statistics report is the latest evidence that the Fed's streak of interest rate hikes over the last year is weighing on economic activity.
  • While US labor market data has remained solid, recent reports on manufacturing and the services sector have shown signs of slowing.
Arts & Culture

Egypt’s village traditions in peril as costs rise

Multi-day weddings, feeding the bereaved and homemade bread are all becoming things of the past in rural Egypt.
  • In a year, the Egyptian pound has lost nearly half of its value, pushing consumer prices to more than double in the import-dependent country.
  • Weddings in Nubian villages -- renowned for their long extravagant parties -- are no longer three-day, nine-meal affairs to which the entire town is invited.
Economy

Global debt growing due to US, China, says IMF 

Global government debt is on track to reach levels not seen since the height of the COVID-19 pandemic, the International...
  • In the US, government debt as a percentage of economic output is expected to surpass its pandemic-era peak by 2027.
  • China's debt burden is forecast to be almost double its pre-pandemic levels by 2028, the IMF said.
Business

RAKEZ wins award for Best RPA Excellence during Future Data Summit 2023

RAS AL KHAIMAH, UAE - Ras Al Khaimah Economic Zone (RAKEZ) received the 'Best RPA Excellence Award' during the Future...
  • RAKEZ has embarked on its automation journey by utilizing virtual bots to handle visa-related services.
  • These virtual bots have successfully reduced the time needed for some of the processes by 1.5 days, completing them within 12 hours.
Economy

Dubai sees heavy influx of medical tourists in 2022, spending US$270m

DUBAI, UAEI--Dubai saw remarkable growth in medical tourism in 2022 with 674,000 medical tourists spending $270 million in the year....
  • Some 39 percent patients came from Asian countries, 22 percent from Europe and the Commonwealth of Independent States, and 21 percent from Arab and the GCC
  • The head of Dubai Health Authority attributed the arrival of medical tourists to the city's ability to provide quality acre, making it the top healthcare destination
Economy

US unveils tough emissions rules to speed electric auto shift

The proposed rules set aggressively low standards for emissions of greenhouse gases and criteria pollutants, which is expected to lead...
  • The proposal -- which will next be open to a public comment period -- is the latest in a series of steps under Biden, a Democrat, to help put EVs on track for mass adoption.
  • Electric vehicles accounted for 5.8 percent of the US market for new vehicles in 2022, up from 3.2 percent in 2021, according to Cox Automotive.
Economy

IMF chief economist warns inflation could remain high until 2025

Washington, United States--The underlying drivers of historically-high global inflation could persist until 2025, the International Monetary Fund's chief economist told AFP...
  • Following the fast reopening of the global economy after the Covid pandemic, prices around the world have risen exponentially
  • Inflation in many countries in the world has remained well above the two percent target, despite central banks raising interest rates
Business

Boeing delivers 130 aircraft in Q1

It edged out its rival Airbus by just three aircraft.
  • In order to reach its target of 720 units for the year, Airbus needs to picke up the pace in order to go past the 661 number in 2022
  • In mid-March Boeing restarted deliveries of its long-haul 787, which were temporarily halted at the end of February by the Federal Aviation Administration
Economy

US should be cautious when setting interest-rate policy: Fed official

In the wake of the fall of Silicon Valley Bank, the US Federal Reserve should be cautious in setting interest-rate...
  • Since March last year, the Fed has raised interest rates by almost five percentage points, tightening monetary policy in a bid to dampen demand and slow price increases
  • The Fed continued with another 25 basis-point hike last month despite the turbulence in the financial markets caused by the rapid collapse of SVB
Economy

IMF lowers 2023 forecast to 2.8%, warns of half-decade of low growth

The IMF predicted the global economy will grow by 2.8 percent this year and three percent in 2024, a decline...
  • The IMF expects global inflation to slow to seven percent this year, down from 8.7 percent last year, according to the WEO forecasts.
  • Close to 90 percent of advanced economies will experience slowing growth this year, while Asia's emerging markets are expected to see a substantial rise in economic output.

Saudi Arabia and Qatar to settle Syria’s World Bank debt

Riyadh, Saudi Arabia -- Saudi Arabia and Qatar announced on Sunday that they would settle Syria's debt to the World...
Geostrategy

Company News

Latest News

WTO head ‘less optimistic’ for world trade due to Red Sea strikes

The head of the international trade body said weaker global economic growth, "worsening geopolitical tensions, the new disruptions we see...
World Economic Forum

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
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Economy

CBUAE balance sheet touches US$182 billion in November 2023

Abu Dhabi, UAE--The Central Bank of the United Arab Emirates (CBUAE) saw its balance sheet soar to $182.43 billion at...
  • The UAE central bank's balance sheet maintained a steady 21.2% growth rate throughout the first eleven months of 2023
  • According to the CBUAE, investments and deposits also played a huge role, totaling $56.63 billion and $26.53 billion respectively
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.