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.

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

Dubai vs Doha: The Battle for Creator Economy Supremacy and Innovation in the Middle East

Dubai’s aggressive initiatives like the 1 Billion Followers Summit and specialized creator visas put it ahead in attracting global talent,...

Business
Economy

Saudi Arabia posts budget surplus, first in nearly a decade

Thanks to high oil prices, Saudi Arabia has recorded its first annual budget surplus in almost a decade, beating its...
  • The kingdom's budget approved for 2023 foresees a surplus of 16 billion Saudi riyals ($4 billion) and GDP growth of 3.1 percent
  • This year's surplus is the first since the 2014 collapse of oil prices from more than $100 a barrel,
Economy

UAE’s non-oil foreign trade at the end of third quarter $445 billion

Abu Dhabi, UAE----UAE's non-oil foreign trade increased by 19 percent by the end of the third quarter, compared to the...
  • The value of exports at the end of the third quarter amounted to AED275 billion, a growth of nine percent, and re-exports recorded a growth of 22 percent.
  • Minister of State for Foreign Trade Dr. Thani bin Ahmed Al Zeyoudi said country's policies, legislations and economic relations and agreements have "begun to bear fruit".
Economy

CBUAE imposes financial sanction on UAE exchange house

The financial sanction, amounting to AED1,925,000 ($524,166) followed the findings of an examination conducted by the CBUAE.
  • The financial sanction, amounting to AED1,925,000 ($524,166) followed the findings of an examination conducted by the CBUAE
  • The CBUAE, through its supervisory and regulatory mandates, works to ensure that all exchange houses, their owners and staff abide by the UAE laws
Economy

PwC report confirms assertions of TOP CEO Conference experts: Skills help women get more jobs across MENA

Young women in the MENA region are more likely to be in the workforce, while the GCC countries have seen...
  • Young women in the MENA region are more likely to be in the workforce, while the GCC countries have seen advances in labor force participation, says the latest PwC report
  • The TOP CEO Conference held in Dubai in May 2022 had suggested that women in the MENA region have made significant gains and have become a vital part of the region’s workforce
Economy

India raises interest rate but at slower pace

Mumbai, India—India's central bank on Wednesday raised its main interest rate for the fifth time this year, but by a smaller...
  • Reserve Bank of India's move comes after US Federal Reserve chairman Jerome Powell signalled last week that officials would begin to take their foot off the pedal
  • The Indian central bank retained its inflation forecast of 6.7 percent for the fiscal year to March but trimmed its economic growth projection to 6.8 percent from 7.0 percent
Economy

World economy faces more pain in 2023 after a gloomy year

Economists expect Germany and another major eurozone economy, Italy, to fall into recession. Britain's economy is already shrinking. Rating agency...
  • IMF still expects the world economy to expand in 2023, with growth of 2.7 percent but the OECD is forecasting 2.2-percent growth
  • Natural and man-made catastrophes have caused $268 billion in economic losses so far in 2022, according to reinsurance giant Swiss Re
Economy

Debt-service payments from IDA’s countries to top $62bn in 2022: World Bank

The report highlights rising debt-related risks for all developing economies - low as well as middle-income economies.
  • The report highlights rising debt-related risks for all developing economies - low as well as middle-income economies
  • Rising interest rates and slowing global growth risk is tipping a large number of countries into debt crises
Economy

S&P Global says Egypt non-oil businesses contract in November

Cairo, Egypt—Egypt’s non-oil businesses have shown a contraction in November, resulting in output falling at the sharpest rate since the...
  • Egypt’s Purchasing Managers’ Index fell from 47.7 in October to 45.4 in November — the second lowest since June 2020.
  • According to S&P Global, Egypt’s purchase price inflation hit a 52-month high, leading 42 percent of surveyed firms to report a rise in total input costs over the month
Science

UN biodiversity talks begin, advertised as ‘last chance’ for nature

Delegates from across the world gathered for the December 7-19 meeting to try to hammer out a new deal for...
  • Some countries want to set up a separate funding mechanism for biodiversity, which wealthy nations have largely resisted
  • NGOs say the lack of world leaders at COP15 risks dampening momentum at the talks and could scupper an ambitious settlement
Economy

Jordan’s ‘New City’ project to create 90,000 jobs: Govt

The project is part of the state's economic vision and aims to accommodate the population increases in Amman and Zarqa.
  • The project is part of the state's economic vision and aims to accommodate the population increases in Amman and Zarqa
  • The goverment hopes to start implementing the project in 2025, ending the first phase in 2033

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

Company News

Latest News

Fitch maintains ‘A+’ rating of Saudi Arabia’s PIF, outlook stable

Riyadh, Saudi Arabia - Global credit agency Fitch Ratings has reaffirmed Saudi Arabia’s Public Investment Fund's (PIF) long-term foreign- and...
Economy

Dubai Investment posts profit

Its income for the first nine months of 2023 is US$816m.
Business

Bahrain and Russia look to boost economic cooperation

Manama, Bahrain-- Bahrain and Russia have held discussions to enhance cooperation in various fields of the two countries' economies. In...
Economy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Business

Sharjah Civil Aviation Department and WFP sign aviation-safety agreement

Sharjah, UAE--The Sharjah Civil Aviation Department (SCAD) and the United Nations' World Food Programme (WFP) have signed an agreement to...
  • The WFP's Regional Aviation Safety Office will hold training sessions, seminars, conferences, and special projects, in order to benefit both parties
  • The Sharjah Civil Aviation Department will send qualified lecturers and trainers to conferences, workshops, and other events hosted by the WFP
Economy

Qatar’s consumer price index rises by 1.08% in October 2023

DOHA, QATAR - The Consumer Price Index (CPI) for October 2023 reached 108.09 points, showing an increase of 1.08 percent...
  • Comparing the CPI of October 2023 with October 2022, an increase has been recorded by 2.52 percent on an annual basis.
  • The CPI of October 2023 recorded an increase by 1.48 percent when compared to the index of September 2023.
Business

Dubai plans bigger airport as passenger traffic continues to increase

"Once we've reached about 120 million (passengers a year), which is what we think our total capacity at DXB (Dubai...
  • Dubai Airports CEO Paul Griffiths said designs were being drawn up for Al Maktoum International Airport, which will be built on the city's outskirts
  • Third-quarter traffic was 22.9 million, the highest since 2019, taking 2023 numbers so far to 64.5 million, nearly 40 percent higher than the same period in 2022.