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.

Tariff war: Xi says China must ‘overcome’ AI chip challenges

Beijing, China - President Xi Jinping said China must "overcome" the challenges of developing core AI technologies including high-end chips,...

Economy

IMF cuts global growth outlook on impact of Trump tariffs

Washington, United States -- The International Monetary Fund on Tuesday slashed its forecast for global growth this year, citing the...

Economy
Economy

IMF, World Bank to consider ‘ambitious reform’ in spring meetings

Washington, United States-- The World Bank and International Monetary Fund's spring meetings get underway later this week with an ambitious reform...
  • The IMF estimates globlal growth to drop below three percent this year, and to remain at close to three percent for the five years
  • Although Asia's emerging markets might witness a big rise in economic output, nearly 90 percent of world's large economies will see slow growth this year
Economy

4th batch of Saudi oil derivatives grant arrives in Aden

Aden, Yemen - The fourth batch of the Saudi Oil Derivatives Grant, consisting of 150,000 metric tons of diesel and...
  • This initiative is part of Saudi Arabia's ongoing efforts to support the Yemeni people
  • The grant was provided to help Yemen operate over 70 power generation plants
Business

Saudi Arabia 60 percent self-sufficient in mango production

Dubai, UAE – Saudi Arabia has achieved 60 percent self-sufficiency in the production of mangoes in the kingdom, producing more...
  • The kingdom produced more than 88000 tons of mangoes on more than 6880 hectares of land, the Ministry of Environment, Water and Agriculture said.
  • More than 20 varieties of mango are produced during the growing season from April to August, which include Tommy Atkins, Kate, Kent, Alphonso.
Business

Oman issues order to regulate consumer cooperatives

MUSCAT, OMAN  -   Oman Ministry of Commerce, Industry and Investment Promotion on Sunday  issued an order to regulate the activities...
  • The order aims at promoting Omani products, establishing new supply chains, supporting national industries.
  • The ministry pointed out that consumer cooperatives operate under a legal framework to sell goods.
Economy

Small US banks use enlarged deposit guarantee to compete with giants

Federal data shows that some depositors at small banks did head for the exits, moving some $120 billion in a...
  • US banking rules guarantee deposits of up to $250,000, meaning that customers with larger holdings face losses if the bank goes under
  • Leader Bank can guarantee up to $100 million in deposits from individuals through a technology platform run by fintech company IntraFi
Business

Ras Al Khaimah Economic Zone attracts 1,839 companies in Q1

Ras Al Khaimah, UAE--Ras Al Khaimah Economic Zone (RAKEZ) brought in 1,839 new companies in the first quarter of 2023,...
  • RAKEZ CEO said the reason companies choose the zone was because of its innovative business solutions and aiding enterprises of diverse types
  • The economic zone also posted high growth in sectors like services, e-commerce, and media companies, highlighting its diverse business landscape
Science

DEWA to launch second nanosatellite for remote sensing this month

Dubai, UAE--Dubai Electricity and Water Authority (DEWA) has completed preparations to launch its second nanosatellite for remote sensing applications in...
  • The satellite will blast off from Vandenberg Air Force Base in California and will be launched by SpaceX Falcon 9 rocket
  • DEWA's Research and Development Centre designed and developed the nanosatellite in cooperation with NanoAvionics in Lithuania
Economy

Credit Suisse takeover prevented Swiss economy collapse: minister

Swiss Finance Minister said that the government had acted in the country's best interests in swiftly arranging the takeover of...
  • The bank takeover talks were hastily conducted at Keller-Sutter's finance ministry in Bern and the $3.25 billion deal was announced on March 19
  • The minister said the government would have to analyse what happened in full, and then adapt the regulations on banks considered too big to fail
Economy

UAE, Saudi Arabia lead GCC in job outsourcing

The latest developments are generating substantial growth opportunities for both local and international service providers in the outsourcing market, a...
  • The latest developments have generated substantial growth opportunities for both local and international service providers in the outsourcing market, a report points out
  • The UAE's outsourcing market is expected to reach US$6.8 billion in 2023, while Saudi Arabia's outsourcing market is projected to reach US$5.7 billion in 2027, it adds
Economy

Collaboration helps strengthen Emirati workforce

“This also opens new horizons for Emiratis to effectively contribute to the UAE's economic development,” adds Farida Al Ali, Assistant...
  • Collaboration with local HR departments, educational institutions, and private sector companies helps connect with local talent, says a UAE official
  • This also opens new horizons for Emiratis to effectively contribute to the UAE's economic development, adds Farida Al Ali of the country's MoHRE

Tariff war: Xi says China must ‘overcome’ AI chip challenges

Beijing, China - President Xi Jinping said China must "overcome" the challenges of developing core AI technologies including high-end chips,...
Economy

Company News

Latest News

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...
Economy

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...
Business

AI revolutionizes UAE’s life sciences & healthcare

"By leveraging advanced data analysis techniques to process extensive datasets from diverse sources, including genomic data, scientific literature, and clinical...
Opinion
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Economy

Saudi authorities reduce fee for recruiting domestic help

Riyadh, Saudi Arabia - Saudi Ministry of Human Resources and Social Development (MHRSD) announced on Monday that it has cut...
  • The ministry had previously directed licensed recruitment companies and offices to set the upper limit for the costs of recruiting domestic worker services from some nationalities
  • The decision comes within the framework of the ministry’s effort to develop all services, improve the labor market environment and enhance its attractiveness
World Economic Forum

IMF chief at Davos: AI holds risks, opportunity for global economy

Artificial intelligence poses risks to job security around the world but also offers a "tremendous opportunity" to boost flagging productivity...
  • "We must focus on helping low-income countries in particular to move faster to be able to catch the opportunities that artificial intelligence will present," Georgieva told AFP.
  • Georgieva said 2024 is likely to be "a very tough year" for fiscal policy worldwide, as countries look to tackle debt burdens accumulated during the Covid-19 pandemic.
Economy

Saudi inflation rate declines slightly to 1.5 percent in Dec: GASTAT

Riyadh, Saudi Arabia -- Saudi Arabia’s inflation declined to 1.5 percent in December 2023, compared with 1.7 percent in November, according to recent...
  • The cost-of-living index for December rose to 110.15 points, according to the base year 2018, from 108.53 points in the same month a year earlier.
  • Inflation is measured by the percentage change in the cost of living between the current period and the corresponding period of the previous year.