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.

Latifa bint Mohammed awards UK’s Simon Squibb with ‘One Billion Award’ at 1 Billion Followers Summit

Dubai, UAE - Sheikha Latifa bint Mohammed bin Rashid Al Maktoum, Chairperson of Dubai Culture and Arts Authority, presented the...

Business

Global workforce transformation by 2030: WEF predicts 78 million new jobs amid disruptive changes

The widening skills gap challenges employers, with over 59% of the workforce needing reskilling while millions risk redundancy due to...

Economy
Economy

Dubai ruler evinces support for global economic growth

Reiterating Dubai's resolve to work in collaboration with its global partners, Ruler of Dubai Sheikh Mohammed bin Rashid Al Maktoum...
  • He spoke while touring the 43rd edition of the Big 5, the largest and most influential construction event in the Middle East, Africa and South Asia, at the Dubai World Trade Centre
  • More than 2,000 participants from 60 countries are participating in the event, which includes 20 national pavilions
Economy

African Development Fund mobilises $8.9bn for Africa’s low-income countries

ADF is the concessional window of the African Development Bank Group, providing grants and soft loans to the continent’s low-income...
  • ADF is the concessional window of the African Development Bank Group, providing grants and soft loans to the continent’s low-income countries
  • The package includes $8.5 billion in core ADF funding and $429 million for the newly created Climate Action Window
Economy

Workers’ welfare key focus as GCC states strengthen, expand social protection systems, says Saudi minister

The participating Gulf countries highlight labor reforms to ensure protection of workers at the 17th Asia and the Pacific Regional...
  • The participating Gulf countries highlight labor reforms to ensure protection of workers at the 17th Asia and the Pacific Regional Meeting of ILO in Singapore.
  • The event coincided with the release of an ILO survey, which highlighted that one in five workers experienced workplace harassment globally.
Geostrategy

EU stops import of products which causes deforestation

The European Union reached an agreement to ban the import of products including coffee, cocoa and soy in cases where...
  • The draft law, which aims to ensure "deforestation-free supply chains" for the 27-nation EU, was hailed by environmental groups as "groundbreaking".
  • The scope encompasses palm oil, cattle, soy, coffee, cocoa, timber and rubber as well as derived products such as beef, furniture and chocolate.
Economy

Developing economies’ debt more than doubled over decade, says World Bank

The external debt of developing economies has more than doubled from a decade ago to US$9 trillion in 2021, the...
  • Many countries are already facing or at risk of debt distress with surging global inflation and rising interest rates.
  • The external debt of International Development Association countries also nearly tripled in the decade leading up to 2021.
Geostrategy

Libya tells foreign energy firms it’s safe to return

TRIPOLI, LIBYA - Libya's state energy firm urged its foreign oil and gas partners to resume exploration and production Tuesday...
  • Rival administrations in east and west have vied for power in Libya since March.
  • Libya aims to raise its oil output from around 1.2 million barrels per day currently to 2.0 million bpd by 2027, NOC chairman Farhat Bengdara said.
Business

Abu Dhabi Airports, Bombardier to create aircraft hub in UAE

This represents Bombardier’s first full-service facility in UAE.
  • The development of the new Bombardier MRO at Abu Dhabi International Airport is one of several key investments Abu Dhabi Airports is supporting.
  • This represents Bombardier’s first full-service facility in the UAE and builds on its long-term commitment to their customers in this critical market.
Geostrategy

UAE, Saudi Arabia sign MoU for mutual recognition of maritime training

LONDON, UK - The UAE Ministry of Energy and Infrastructure (MOEI) and the Transport General Authority (TGA) of the Kingdom...
  • The move is in line to ensure the highest standards of maritime safety and within the outcomes of the Saudi-Emirati Coordination Council.
  • This is as per the International Convention on Standards of Training, Certification and Watchkeeping for Seafarers 1978 and its amendments.
Economy

IEA says energy crunch driving renewables boom

Paris, France— The energy crisis is fuelling an acceleration of the rollout of renewable power, raising hopes for efforts to meet...
  • The IEA report says total renewables capacity worldwide is set to almost double in the next five years and overtake coal as the largest source of electricity generation by 2025
  • The amount of renewable power capacity added in Europe between 2022-2027 is forecast to be twice as high as in the previous five-year period
Business

GCC IPOs resilient to volatility hurting other markets

Various IPOs raised nearly $4.8 billion in the GCC in the first five months of 2022 alone, which was higher...
  • IPOs in the Gulf prove resilient to the volatility hurting deals in other markets, such as high oil prices, stable economies, and abundant liquidity fuel activity.
  • Significant privatizations and private growth companies are now entering the IPO markets due to the recent surge of PO activity and frameworks introduced to enable SPAC formation.

Latifa bint Mohammed awards UK’s Simon Squibb with ‘One Billion Award’ at 1 Billion Followers Summit

Dubai, UAE - Sheikha Latifa bint Mohammed bin Rashid Al Maktoum, Chairperson of Dubai Culture and Arts Authority, presented the...
Business

Company News

Latest News

Iran and Russia diplomats hold discussions on BRICS

Tehran, Iran--Senior Iranian and Russian diplomats held talks in Tehran to discuss the BRICS group and its fields of activities...
Economy

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...
Business

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...
Economy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Opinion

Russia-UAE economic ties strengthen with $9bn trade

The streamlined IP processes, including efficient patent registration and robust litigation frameworks, are key factors contributing to this thriving bilateral...
  • The UAE's innovations in the oil sector offer patent opportunities in Russia.
  • Intellectual Property (IP) protection vital for Russian imports of UAE goods.
Business

Dubai Airports expect to cross pre-pandemic passenger numbers in 2023

Dubai, UAE--Dubai Airports is expecting annual passenger traffic at Dubai International (DXB) to touch 86.8 million – surpassing 2019 traffic,...
  • It forecasts annual passenger traffic at Dubai International (DXB) to touch 86.8 million, crossing 2019 traffic, propelled by strong growth
  • Some 23m passengers passed through the airport in Q3, taking the total traffic for the first nine months of the year to 64.5m passengers
Business

Iran to link up electricity grid with Russia via Azerbaijan

Tehran, Iran-- Iran is linking up its electricity grids with Russia via Azerbaijan in order to make up for its...
  • The Iranian minister said feasibility studies for connecting power grids have been conducted through three routes including Georgia, Azerbaijan, and Turkmenistan
  • He said the use of electricity in Iran’s industrial sector has exceeded that of the household sector for the first time in the history of the country’s power industry