INSEAD Day 4 - 728x90

Economy

flydubai Aleppo flights resumed

The flights were resumed after nearly 14 years.

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.

Trump’s tariffs shake up MENA economies, hitting allies, adversaries, oil trade and emerging industries: Report

Trump's sweeping tariffs are reshaping trade dynamics across MENA, impacting oil-exporting Gulf nations like Saudi Arabia, UAE and Qatar, according...

Economy

Nations divided ahead of decisive week for shipping emissions

London, United Kingdom -- Members of the International Maritime Organization (IMO) are divided over whether to approve a carbon tax on...

Geostrategy

Turkish current account deficit rises to 40-year high

Istanbul, Turkey - Turkey's current account deficit increased to $9.85 billion in January, the highest monthly deficit since 1984, the...
  • Turkey's trade deficit widened 38 percent in January to $14.24 billion, largely due to the sharp rise in gold imports and the rising cost of energy imports
  • Excluding gold and energy, the current account showed a surplus of $2.6 billion in January, as opposed to a surplus of $1.7 billion in the same month last year
Economy

Iraq finalizes three-year budget designed to instill fiscal stability

Just days ahead of the 20th anniversary of the US-led invasion that resulted in war, chaos, and political instability, Iraq's...
  • Iraq is plagued by corruption as well as power cuts that reflect its crumbling infrastructure
  • The United Nations estimates that nearly one-third of Iraq's 42 million population live in poverty
Geostrategy

Lebanon central bank chief summoned in European probe

A Lebanese judge has asked central bank chief Riad Salameh to appear before visiting European investigators, a judicial official said...
  • Lebanon central bank chief Riad Salameh denies all accusations against him and has rarely appeared before the judiciary.
  • If he shows up, it would be the first time Salameh, 72, appears before European investigators probing suspected financial misconduct.
Infographics

UAE, Qatar least corrupt Arab nations

The 2022 Corruption Perception Index says corruption is undermining democratic processes and fueling violence in the Middle East and North...
  • The CPI ranks180 countries and territories around the world by their perceived levels of public sector corruption on a scale of 0 (highly corrupt) to 100 (very clean).
  • With a score of 90 and 87 respectively, Denmark and Finland top the CPI, while Somalia and Syria hit rock bottom with a score of 13 and 12 respectively.
Geostrategy

Russia agrees to grain export deal extension for 60 days

Russia has agreed to extend the Ukraine grain export deal following talks with the United Nations - but only for...
  • The grain export deal has helped ease the global food crisis triggered by Russia's full-scale invasion of Ukraine in February 2022.
  • The invasion saw Ukraine's Black Sea ports blocked by warships until a deal signed in July allowed for the safe passage of exports of critical grain supplies.
Geostrategy

UN investigators hit out at lackluster help for Syria quake victims

GENEVA, SWITZERLAND - The world failed to act quickly enough to rush life-saving aid to Syrians in desperate need following the...
  • Almost 6,000 people were killed in Syria by the 7.8-magnitude tremor that struck the country and neighboring Turkey.
  • The UN estimates that five million people need basic shelter and non-food assistance in the quake-hit part of Syria.
Economy

Biden vows to fix ‘mess’ as US regulators rush to contain SVB fallout

Treasury Secretary Janet Yellen said the government wants to avoid financial "contagion" from the SVB implosion, as it ruled out...
  • Joe Biden vowed to hold accountable the people responsible for SVB collapse and said he would deliver remarks Monday on maintaining a resilient banking system
  • In a joint statement, financial agencies including US Treasury said SVB depositors would have access to "all of their money" starting Monday, March 13
Economy

China’s new premier warns 5% growth rate for 2023 not ‘easy’ to achieve

Beijing, China--China's new premier warned Monday that the country's five-percent growth target for 2023 would not be "easy" to achieve, as...
  • The Chinese government has set the economic growth target of around five percent as the country came out of strict zero-Covid rules that undermined growth
  • The new premier also took a dig at the US as relations between the two powers have worsened over a host of issues such as trade, technology and security
Economy

Egypt’s exports to China shoot up 21% to US$1.7bn in 2022

Cairo, Egypt--Egypt’s export to China increased by 20.8 percent to $1.7 billion in the first 11 months of 2022, compared...
  • Trade between the two countries shot up by 2.6 percent during the first 11 months of 2022, reaching $14.9 billion from $14.5 billion, according to the official data
  • The North African country's imports from China totaled $13.2 billion from January to November 2022, up from $13.1 billion in the same period in 2021
Economy

After SVB fall, US regulators shut down crypto-focused Signature Bank

Signature Bank was reeling from a bet on crypto banking that foundered after the sector imploded and banking regulators cracked...
  • Signature Bank's collapse is the third in under a week after Silvergate Bank's voluntary liquidation and Silicon Valley Bank's shutdown
  • The closure of the bank comes months after Signature said it would be reducing its exposure to the crypto sector

Trump’s tariffs shake up MENA economies, hitting allies, adversaries, oil trade and emerging industries: Report

Trump's sweeping tariffs are reshaping trade dynamics across MENA, impacting oil-exporting Gulf nations like Saudi Arabia, UAE and Qatar, according...
Economy

Company News

Latest News

Saudi Arabia launches skill verification program in Egypt

Riyadh, Saudi Arabia - Saudi Arabia, through its Ministry of Human Resources and Social Development (MHRSD), has initiated the first...
Economy

UAE’s CEPA program marks ‘exponential growth’

“Trade has always been important to the UAE, a bridge connecting our products, skills, and natural resources to the world,...
Economy

Nationalization efforts transform Saudi workforce

Saudi Arabia's ambitious nationalization initiative has significantly impacted its labor market, with the Kingdom experiencing a historic low unemployment rate...
Economy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Business

UAE announces reduction in fuel prices for January

ABU DHABI, UAE - The prices of petrol and diesel are set to decrease in the country in January following...
  • This change reflects a continuous trend observed in the fuel prices over the past few months.
  • September and October witnessing increases and November and December seeing reductions.
YEARBOOK 2023

From climate action to global aid: Inside UAE’s remarkable year

Abu Dhabi, UAE -- The UAE is bidding farewell to 2023, dubbed the ‘Year of Sustainability'. From hosting the relatively...
  • UAE launched ALTÉRRA, the world’s largest private investment climate action vehicle, aimed at raising and mobilizing an additional $250bn for climate action.
  • Despite global headwinds, CBUAE projects 3.3 percent year-on-year growth projected for the UAE economy in 2024.
Business

45 percent of Saudi employees work over 40 hours per week

Riyadh, Saudi Arabia -- Nearly 45.8 percent of employees in Saudi Arabia work more than 40 hours per week and...
  • Figures also show that 46.6 percent of employees have received training on health and safety procedures, and 48.7 percent have health and safety departments in their workplace.
  • Data also shows that 7.8 percent of employees deal directly or indirectly with chemicals, medical waste, radioactive materials or toxic gases.