INSEAD Day 4 - 728x90

Economy

DIB H1 net profit $1bn

Gross revenue increased 10% year on year

SIB H1 profit up 15.3%

Total operating income rises 20.5 percent.

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.

Lithium-sulfur batteries will transform energy storage, says Lyten’s Horvath

Lyten, a Silicon Valley-based company, is revolutionizing the energy storage market with its groundbreaking lithium-sulfur battery technology. These batteries offer...

World Economic Forum

Fourth Industrial Revolution centers announced for Riyadh, Muscat, Pretoria

Davos, Switzerland -- The World Economic Forum (WEF) has announced signing agreements for three new Centers for the Fourth Industrial...

World Economic Forum
Business

Nearly 78% UAE women-owned businesses led by females under age 40

Sharjah, UAE--- A Women under the age of 40 lead 77.6 percent of the women-owned businesses in the UAE, a...
  • The survey found that of the 1,000 female business owners who took part in the survey, 48.8 percent are CEOs and 61.4 percent sole proprietors.
  • A total of 25,000 Emirati women entrepreneurs owned 50,000 trade licenses valued at AED 60 billion ($16.33 billion) in 2021.
Business

Facebook agrees to pay $725m to settle privacy suit

Facebook parent Meta has agreed to pay $725 million to settle a long-running lawsuit that accused the social network of...
  • The settlement must be approved by a judge in the San Francisco division in the US District Court.
  • The lawsuit was initiated in 2018, when Facebook users accused the social network of violating privacy rules by sharing their data with third parties.
Economy

Two years after EU exit, UK business feels Brexit blues

Complicating matters has been the loss of EU workers in sectors such as health, hospitality and agriculture, even if some...
  • The problem is not the customs duties, largely eliminated by the post-Brexit free trade agreement between London and Brussels
  • The government of Prime Minister Rishi Sunak has said it believes the UK economy has entered a recession on fallout from sky-high inflation
Economy

UAE’s ‘Beyond2020’ provides water source to thousands of Sudanese

Abu Dhabi, UAE--The UAE-led ‘Beyond2020’ humanitarian initiative has provided a safe source of water for about 20,000 residents of the...
  • Two small solar-powered water basins were erected in accordance with a groundwater pumping system to provide 20 liters of water per day to residents of the two villages
  • Beyond2020 offers critical, life-transforming solutions to a broader number of beneficiaries worldwide
Economy

Egypt central bank raises key interest rates by 300 bps

Cairo, Egypt-- The Central Bank of Egypt has raised the overnight interest rates by 300 basis points, exceeding expectations. The...
  • The MPC raised the overnight deposit rate, overnight lending rate, and the rate of the main operation to 16.25 percent, 17.25 percent, and 16.75 percent
  • The latest decision comes a week after after the announcement of a new International Monetary Fund (IMF) $3 billion loan for Egypt
Economy

Suez Canal chief says waterway ‘not for sale’

Allaying fears over the future of the Suez Canal, its chairman said the waterway 'is not for sale. The fear...
  • Many fear the fund would undermine the state's sovereignty over the waterway which accounts for roughly 10 percent of global maritime trade
  • The proposed bill comes with Egypt's economy struggling under growing foreign debt, and the local currency plunging against the dollar
Economy

Turkey raises yearly minimum wage for third time as inflation jumps

Turkey's latest economic crisis started when Erdogan -- a lifelong opponent of high interest rates -- pressured the central bank...
  • Erdogan relied on support from the working classes to rise to power nearly two decades ago, and will need it again to secure re-election.
  • On Thursday the Turkish leader said the country would boost the monthly take-home pay to a minimum of 8,500 liras ($455).
Business

BHP to face trial in UK

The firm must stand trial to face US$12 billion damages claim
  • More than 400,000 claimants could eventually join the compensation claim against the Australian company in London's High Court.
  • The 2015 tragedy unfolded after the dam in Brazil's Minas Gerais region ruptured.
Business

GCC’s digital economy forging ahead rapidly, says Oman IT minister

Muscat, Oman - Saeed bin Hamoud Al Maawali, Omani Minister of Transport, Communications and Information Technology, has said that the...
  • He stressed the importance of promoting cooperation between the GCC and its international partners to increase the pace of digital transformation.
  • He also noted the need to enhance the cooperation between the UAE and Oman in developing the digital economy infrastructure.
Economy

Lebanese PM urges sweeping reforms for reviving economy

Mikati said the economy had grown by nearly two percent in 2022 after two straight years of severe recession that...
  • He said increased revenues from tourism and a rise in remittances from Lebanese living abroad were factors behind the modest growth.
  • Mikati has led a caretaker government since a May general election failed to deliver a majority to either of Lebanon's rival power blocs.

Lithium-sulfur batteries will transform energy storage, says Lyten’s Horvath

Lyten, a Silicon Valley-based company, is revolutionizing the energy storage market with its groundbreaking lithium-sulfur battery technology. These batteries offer...
World Economic Forum

Company News

Latest News

Monsha’at reports Q3 rise in SMEs driven by growth across non-oil sectors

RIYADH, SAUDI ARABIA  - The General Authority for Small and Medium Enterprises (Monsha'at) has released its latest quarterly SME Monitor,...
Economy

Bank of Sharjah joint lead manager for $350m Ittihad sukuk

SHARJAH, UAE - Bank of Sharjah announced its selection as joint lead manager and bookrunner in the debut US$350 million...
Business

Some farmers in drought-hit Iraq forced to reduce crops: NGO

Baghdad, Iraq -- Sixty percent of farmers surveyed in four provinces of drought-hit Iraq reported having to reduce cultivated areas or...
Geostrategy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Economy

Brazil, UAE forge ahead with stronger bilateral ties

“We would like the UAE to be a partner in our current process of investing in infrastructure. It is a...
  • Brazil's Ambassador to UAE, Sidney Leon Romeiro, praises UAE's commitment to environmental sustainability and renewable energy.
  • Brazil and UAE collaborate in global climate change discussions, aiming to meet Paris Agreement goals, the Brazil envoy highlights.
Economy

Gulf Air hit by data breach

It said client database may have been compromised.
  • The airline said its operations and critical systems "were fully intact" and that there were no disruptions to its flight schedule
  • It said the details of the breach were shared with the authorities and it was working with them to investigate "the matter thoroughly"
Economy

Jordan’s jewelry, pharmaceutical exports rise in January-September 2023

AMMAN, JORDAN – The Kingdom’s exports of jewelry increased by 71.5 percent during the January-September period of 2023 and pharmaceutical...
  • The value of Jordan’s exports of jewelry until the end of September amounted to about US$858 million.
  • The value of the Kingdom’s exports of pharmaceutical products until the end pf September was about US$531 million