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.

Oman launches New Nation Brand at Davos to enhance global presence

Muscat, Oman – Oman on Tuesday launched its New Nation Brand at the World Economic Forum in Davos in an...

Creators HQ, X announce strategic partnership to produce authentic, meaningful content

Dubai, UAE - Creators HQ in the UAE, the world’s first international hub for the content economy’s creators and entrepreneurs,...

Business
Economy

China begins WTO dispute against US chip export curbs

Beijing, China—China has filed a dispute with the World Trade Organization over US restrictions on chip exports, Beijing's commerce ministry said...
  • The United States in October announced new export controls aimed at restricting China's ability to buy and manufacture high-end chips with military applications
  • Chinese leader Xi Jinping and US President Joe Biden pledged to repair frayed relations at a summit in Bali, Indonesia last month
Economy

Turkey discovers 150m barrels of oil reserves worth $12bn: Erdogan

Erdogan said Ankara aims to increase its daily production to 100,000 barrels by the centennial of the Republic of Türkiye.
  • Erdogan said Ankara aims to increase its daily production to 100,000 barrels by the centennial of the Republic of Türkiye
  • The newly discovered oil reserves have been named after Gendarmerie Esma Cevik, who was killed clearing mines on Gabar Mountain
Economy

Dubai International Chamber launches three new offices in Cairo, Tel Aviv, Istanbul

The formal inauguration of the representative office in Tel Aviv will take place in the Israeli capital on December 13.
  • The formal inauguration of the representative office in Tel Aviv will take place in the Israeli capital on December 13
  • International offices have a dual mission of supporting and guiding Dubai companies through every stage of their global expansion
Business

EDB, ADCB ink pact for UAE SMEs

The MoU will enable SMEs access to financing options.
  • The scheme is in line with EDB’s mandate to provide AED 30 billion towards the development of the UAE economy in five strategic sectors.
  • The Memorandum of Understanding (MoU) will enable SMEs in the UAE to have improved access to strategic financing options.
Business

Amgen to buy Horizon Therapeutics

The US biopharma firm will pay US$28 billion for the deal.
  • This is the biggest acquisition of the year in the health sector.
  • The deal is subject to approval by US regulators and if all goes well it should be concluded in the first half of 2023, Amgen said.
Business

HUB71 startup community raises $1bn in venture capital

The milestone was achieved in a year which has seen Hub71 onboard 53 high growth technology companies.
  • The milestone was achieved in a year which has seen Hub71 onboard 53 high growth technology companies
  • Hub71 has built a diverse capital ecosystem of active investment partners ranging from Mubadala Investment Company to over 30 VC firms to family offices
Economy

UK economy posts growth as GDP rises 0.5% in October

Gross domestic product fell 0.6 percent in September after businesses closed for the royal funeral, and Britain's economy shrank by...
  • Britain's finance minister Jeremy Hunt said in a statement that despite the figures showing growth, "there is a tough road ahead"
  • The Bank of England has predicted the UK economy would contract in the final quarter of 2022, meaning the economy was in a recession
Economy

ECB mulls rate hike slowdown on ‘peak inflation’ hopes

As part of its monetary policy tightening, the ECB will on Thursday outline the next steps in its efforts to...
  • Following two consecutive interest rate hikes of 75 basis points, markets are on tenterhooks to see whether the ECB will keep up the aggressive pace or downshift to 50 basis points
  • This week's meeting of the ECB's 25-member governing council in Frankfurt will be the final one of 2022, a year that will be remembered for unprecedented consumer price shocks
Economy

UAE asks govt entities to buy locally produced food

The decision has been taken to support local production while the government continues to embrace open trade policy.
  • The decision has been taken to support local production while the government continues to embrace open trade policy
  • The desert country is working on vertical farming under a joint venture between Emirates Flight Catering and US-based Crop One
Economy

Dubai Customs and South Korea to boost trade ties

Dubai, UAE— Dubai Customs and a delegation from South Korea have discussed ways to further develop mutual trade cooperation. Dubai...
  • Dubai Customs shared their experience in developing smart customs services and digital systems with the delegation
  • The Korean delegation learned about the Post Clearance Audit System, which targets risky clearance transactions and enhances transparency in trade

Oman launches New Nation Brand at Davos to enhance global presence

Muscat, Oman – Oman on Tuesday launched its New Nation Brand at the World Economic Forum in Davos in an...

Company News

Latest News

Tax havens only half the story, says OECD

Paris, France - Tax havens are blamed for lower public revenues elsewhere as they lure away multinational firms but a study...
Economy

DTC sets IPO offer price range

Final offer price will be fixed through a book-building process
Business

AI, Industry 4.0 transform Middle East manufacturing

"As we look ahead, the manufacturing landscape is set to continue evolving, navigating through the VUCA (volatility, uncertainty, complexity, and...
Opinion
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Business

48,616 firms register with Dubai Chamber of Commerce in January-September 2023

DUBAI, UAE – Dubai Chamber of Commerce, one of the three chambers operating under the umbrella of Dubai Chambers, has...
  • The total value of exports and re-exports of member companies reached $57 billion in January- September 2023.
  • The strong growth underlines Dubai’s attractiveness among both companies and investors,
Economy

UAE unveils ‘roadmap’ to reduce food waste by 50 percent

Dubai, UAE--In order to reduce food loss and waste by 50 percent, the UAE has launched Ne’ma Food Loss and...
  • The initiative was unveiled at the fourth national dialogue on Food Security organized by the Ministry of Climate Change and Environment with ne’ma
  • The minister said the roadmap will be a collective effort to bring down food waste by setting up new social norms, policies across the food ecosystem
Economy

Gaza conflict casts shadow on Israel’s gas industry

War with Palestinians disrupts Israel's gas exports, causing economic losses and altering energy strategies.
  • The accounting and consulting firm BDO Israel estimated the economic losses of the closure of the Tamar field at about US$ 201 million a month
  • The gas field supplied 8.7 billion cubic meters of gas to the Israeli market in 2022 while exporting another 1.57 billion cubic meters to Egypt and Jordan