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.

IMF, World Bank welcome efforts for Syria to reintegrate globally

Washington, United States - The International Monetary Fund and World Bank's leaders said in a joint statement Thursday that they...

Economy

Gold hits record, dollar drops as tariff fears dampen sentiment

With several markets still closed for the Easter holiday, business was limited ahead of a week that will see the...

Business
Economy

World Bank could lend $50bn more over decade with reform: Yellen

Central bankers, finance ministers and participants from more than 180 member countries are expected to gather in the US capital...
  • In March, the World Bank submitted an evolution plan to be discussed with its development committee on April 12, during the spring meetings.
  • As global growth slows, the World Bank previously warned that the outlook is especially tough for the poorest economies -- which face sluggish growth driven by heavy debt burdens.
Economy

Qatar foreign reserves post 12% jump to US$65bn in March

Doha, Qatar-- Qatar Central Bank has reported an increase in international reserves and foreign currency liquidity in March to $65...
  • At the end of March 2023, balances in foreign banks increased by about $3.29 billion to reach $7.41 billion
  • Qatar's shares of SDR deposits at the IMF decreased by the end of March 2023 with a value of $38 million
Economy

US Treasury Secretary US economy to grow, downplays recession fears

Washington, United States - US Treasury Secretary Janet Yellen expects the world's biggest economy will continue to grow, despite heightened...
  • Yellen said she is committed to ensuring that all deposits are safe and monitoring banking system conditions
  • After SVB's collapse, US authorities set out plans to ensure its customers would be able to access their deposits
Economy

Four Saudi cities find top slots on IMD Smart City Index for 2023

Riyadh, Saudi Arabia--Four cities in Saudi Arabia were placed in the IMD Smart City Index for 2023. According to the...
  • The holy city of Makkah found its way in the index for the first time this year, achieving the 4th rank in the Arab world
  • In the global pecking order of cities, Riyadh was ranked 30th, Makkah 52nd, Jeddah 56th, and Madinah ranked 85th in the world
Economy

Industrial sector contributes 20% to Ajman’s GDP

Ajman, UAE – The industrial sector contributes approximately 20 percent to Ajman's GDP and is one of the sectors that...
  • This was revealed at a session in Ajman conducted in partnership with the UAE Ministry of Industry and Advanced Technology
  • The session discussed the launch of the "Make in the UAE" initiative such as the Industrial Technology Transformation programme and others
Economy

Future looks bright as businesses meet sustainability

"In Sharjah, we are working hard to bring more balance and harmony to our relationship with the land" she adds,...
  • Sustainability and entrepreneurship is crucial in building a resilient and regenerative world, says Sheikha Bodour Al Qasimi, President of American University of Sharjah
  • The awareness and commitment to be mindful of our impact on the planet should extend far beyond COP28, she adds while speaking at the Sharjah Ramadan Majlis 2023
Business

SDF signs $240m loan pact for Pakistan hydropower project

Dubai, UAE -- The Saudi Fund for Development (SFD) has signed a US$240 million loan agreement to support Pakistan's Mohmand...
  • The project is co-financed by the Saudi Fund for Development, OPEC, Islamic Development Bank, and the Kuwait Fund for Arab Economic Development.
  • By using renewable energy sources, the project will generate 800 MW of electricity production capacity.
Economy

US hiring eases in March as economy shows signs of cooling

US job gains eased in March for a second straight month, government data showed, adding to signs that the economy...
  • The figures could bring some relief to policymakers who have been battling to rein in stubborn inflation.
  • To ease demand, the Federal Reserve has lifted the benchmark lending rate nine times since early last year.
Economy

World food prices fall for 12 consecutive months, says UN

World food prices are still high but have fallen by a fifth compared to a year ago when prices soared...
  • FAO said the fall in benchmark prices was "driven by declines in world quotations for cereals and vegetable oils."
  • The UN agency added that food remained expensive for developing countries highly dependent on imports.
Business

Number of SMEs in UAE reaches 557,000 by end of 2022: Minister

Dubai, UAE -- A total of 557,000 small and medium enterprises (SMEs) were operating in the UAE at the end...
  • Minister of Economy Abdullah bin Touq Al Marri said the number was in line with UAE’s ambitious plan to achieving 1 million SMEs by the end of 2030.
  • The UAE banks provided AED 83.3 billion ($23 billion) in financial facilities to small and medium-sized enterprises in 2022.

IMF, World Bank welcome efforts for Syria to reintegrate globally

Washington, United States - The International Monetary Fund and World Bank's leaders said in a joint statement Thursday that they...
Economy

Company News

Latest News

Iran, India reach final agreement on Chabahar Port

Tehran, Iran – Iran and India on Monday finalized an agreement for the development of the strategic Chabahar port in...
Geostrategy

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...
Economy

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...
World Economic Forum
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Geostrategy

World’s five richest men doubled their fortunes since 2020: Oxfam

A report from the charity, published as the global elite hobnob at the World Economic Forum in Davos this week,...
  • Billionaires are today $3.3 trillion richer than they were in 2020, despite many crises devastating the world's economy since this decade began, including the Covid pandemic.
  • With riches among the world's wealthiest increasing the way they are, Oxfam predicted that within a decade the world will see its first "trillionaire".
World Economic Forum

Top economists warn global economy will weaken in 2024

Davos-Klosters, Switzerland--Global economic prospects remain subdued and fraught with uncertainty, according to the latest Chief Economists Outlook released today, as...
  • Around 56% economists expect the global economy to weaken this year, while 43 percent foresee unchanged or stronger conditions
  • In the MENA region, US the outlook is weaker too, with about six in 10 respondents foreseeing moderate or stronger growth this year
Business

Saudi govt exposes violations in expatriate partnerships

Riyadh, Saudi Arabia - The Saudi National Program to Combat Commercial Concealment has exposed various instances falling under the umbrella...
  • The government identified cases of cover-up, including scenarios where a Saudi citizen transfers ownership of a commercial establishment to a non-Saudi individual
  • A key point of differentiation stressed by the program is between commercial cover-up and the concealment of labor violations