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.

UAE’s real GDP increases by 3.8% during first nine months of 2024

Dubai, UAE -- The UAE’s real GDP increased by 3.8 percent during the first nine months of 2024 compared to...

Economy

China says will fight to ‘bitter end’ if US pushes trade war

Pressure from Trump could motivate Beijing to strengthen the kinds of support for the economy seen last year -- interest...

Economy
Economy

Arab Parliament ratifies Jordan’s idea on center for food security

Cairo, Egypt--The Arab Parliament on Saturday endorsed a proposal submitted by Jordan's Lower House Speaker Ahmad Safadi, stipulating the establishment...
  • Safadi said Jordan can facilitate and coordinate Arab and international action, and the proposed center would accelerate and enhance the global response to food crises
  • He underscored the importance of supporting Libya and Yemen, and voiced rejection of all forms of external interference in their affairs
Economy

Realty growth in Saudi Arabia, UAE to build on strong private sector and robust spending via govt initiatives

While 2022 saw record levels of demand for commercial office space as a result of ‘Programme HQ’, 2023 looks set...
  • Pent-up demand from travelers and increased spending by residents led the post-pandemic recovery of the real estate sector in Dubai
  • The post-COVID recovery of the Saudi real estate sector is led by increasing tourist demand and government spending on infrastructure projects
Economy

New lab set to make KSA a leader in renewable energy

The Gulf International Laboratory aims to localize industries, enhance local content and build capabilities to boost competitiveness of the Kingdom's...
  • The Gulf International Laboratory aims to localize industries, enhance local content and build capabilities to boost competitiveness of the Kingdom's economy
  • The laboratory is likely to save more than US$ 266.5 million in the field of testing energy devices by eliminating tests conducted outside Saudi Arabia
Economy

Saudi ministry signs MoU with Standard Chartered to boost mining investment

Riyadh, Saudi Arabia – The Saudi Arabia’s Ministry of Industry and Mineral Resources (MIM) and Standard Chartered Bank (SCB) have...
  • The MoU will assess the requirements for sustainable investment in the mining sector in Saudi Arabia as per the objectives of Vision 2030
  • The deal also aims at promoting knowledge transfer, tech enablement, job creation and implementation of Future Minerals Forum outcomes
Business

DEWA’s R&D Center registers its 7th patent for 3D printing adhesive device

DUBAI, UAE -  Dubai Electricity and Water Authority (DEWA) has announced the registration of a new patent for an adhesive...
  • The device distributes the adhesive material on the 3D printing plate, ensuring that the printed material sticks securely to the build plate.
  • DEWA's R&D Center is responsible for supporting innovation in all production and operational areas.

Oil rises as Russia cuts output after Western price cap

Brent, the international benchmark, and its US counterpart WTI, which had been down earlier in the day, jumped more than...
  • Russia is part of a 23-nation alliance with the OPEC crude cartel that already agreed in October to reduce output by two million barrels per day until the end of this year
  • An EU-wide ban on Russia oil products - like diesel, gasoline and jet fuel - came into effect Sunday alongside a Group of Seven (G7) price cap on the same items
Economy

OPEC Fund supports critical infrastructure in Africa with $50m loan

The proceeds of the 10-year loan will be used to improve connectivity, transport, logistics, trade and to boost access to...
  • The proceeds of the 10-year loan will be used to improve connectivity, transport, logistics, trade and to boost access to energy across the African continent
  • Africa’s economic growth has been slowed by global supply chain disruptions and rising costs in the aftermath of the COVID-19 pandemic
Economy

Entertainment may add 4.2% to Saudi GDP by 2030

As the number of companies operating in the industry expected to exceed 2,500, the sector is likely to create 450,000...
  • As the number of companies operating in the industry expected to exceed 2,500, the sector is likely to create 450,000 job opportunities in the Kingdom
  • Saudi Arabia also seeks to establish and develop recreational areas throughout the country, the most recent of which is the opening of the 'VIA Riyadh'
Business

UAE MoIAT, Sharjah FDI Office ink MoU to promote investment

SHARJAH, UAE -  The UAE's Ministry of Industry and Advanced Technology (MoIAT) and Sharjah Foreign Direct Investment Office (Invest in...
  • The aim of the MoU is to support sustainable economic growth within a supportive economic environment.
  • The MoU enhances cooperation between MoIAT and the Sharjah Foreign Direct Investment Office (Invest in Sharjah), through work and partnerships
Business

Dubai Chamber encourages firms to apply for parent-friendly label

DUBAI, UAE - As many individuals in the UAE face challenges in balancing work and family obligations, parent-friendly workplace policies...
  • Working families in the UAE often need to make difficult trade-offs to fulfill their commitments.
  • Research has shown that flexible working options are important to 90 percent of the UAE workforce.

UAE’s real GDP increases by 3.8% during first nine months of 2024

Dubai, UAE -- The UAE’s real GDP increased by 3.8 percent during the first nine months of 2024 compared to...
Economy

Company News

Latest News

World Bank to expand climate funding in MENA by $10 billion

Brhane said the World Bank integrated climate into all its work across the MENA region and is on track to...
COP28 UAE

Clean energy sees marked investment rise since 2020

With a 40% increase in clean energy investments since 2020 and a focus on innovative policies, the global community is...

China, Saudi Arabia sign 60 pacts worth $25bn at Beijing conference

Beijing, China - China and Saudi Arabia signed over 60 MoUs and agreements worth over $25 billion at the investment...
Economy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Business

CBUAE joins the Gulf payments system AFAQ

Abu Dhabi, UAE - The Central Bank of the UAE (CBUAE) joined AFAQ Payments System, which is operated by the Gulf...
  • Along with the CBUAE, Barclays Bank joined the AFAQ system, becoming the first financial institution operating in the UAE to achieve this step and begin using the system’s services
  • To date, the Central Bank of Bahrain, the Saudi Central Bank, and the Central Bank of Kuwait have joined "AFAQ", in addition to a number of commercial banks from these countries
Geostrategy

Digitalization has high environmental costs, says UNCTAD meet

DUBAI, UAE - With global attention on the COP28 climate summit, UNCTAD’s eWeek 2023 highlighted digitalization’s potential to accelerate climate...
  • Data-driven technologies like the Internet of Things, robotics and artificial intelligence can enhance climate change monitoring.
  • The digital transformation has left its mark on the planet through raw material depletion, energy and water use, pollution and waste.
Economy

Global trade likely to decline in 2023 due to changing trade patterns, geopolitics

DUBAI, UAE - The outlook for 2024 remains “highly uncertain and generally pessimistic,” UNCTAD says in the Global Trade Update,...
  • Other elements affecting trade include lower demand in developed countries, less trade in East Asia and an uptick in trade-restrictive measures.
  • The elements also include an uptick in trade-restrictive measures and lengthening supply chains, particularly between China and the US.