INSEAD Day 4 - 728x90

Economy

2PointZero posts profit surge

Growth driven by merger consolidation.

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.

Fifth France-Arab Summit: Forging partnerships for a sustainable tomorrow

As the world grapples with uncertainty, the summit offers a much-needed space for cooperation and innovation, led by the Franco-Arab...

Business

Non-oil sectors drive robust growth in GCC countries, says World Bank report

While developing countries paid a record US$1.4 trillion to service debts, the non-oil sectors in the GCC countries are fueling...

Economy
Economy

Turkey’s economy to grow 5 percent in 2022: Poll

In 2021, Turkey's economy rebounded from the COVID-19 pandemic to grow 11.4 percent.
  • In 2021, Turkey's economy rebounded from the COVID-19 pandemic to grow 11.4 percent
  • The Turkish Statistical Institute will announce Q3 GDP growth data at 0700 GMT on Nov 30
Economy

UAE, Cameroon non-oil trade exchange grows by 33.5% in last 10 years

Non-oil trade exchange between the UAE and Cameroon grew by 33.5 percent between 2012 and 2021, reaching $522 million by...
  • The total non-oil trade exchange between 2012 and 2021 stood at $4.95 billion, according to figures of the Federal Competitiveness and Statistics Centre
  • Non-oil trade between the two countries reached $406 million in the first nine months of this year

Qatar Charity organizes events for its sponsored orphans around the world

The events aim to focus on the rights of the child and the duties of states and societies in order...
  • The events aim to focus on the rights of the child and the duties of states and societies in order to protect and care for them
  • Sponsored children, including children with disabilities, participated in several activities in Pakistan, Bosnia, Djibouti, Yemen, Somalia, Albania, Tunisia, Kosovo, and Turkey
Economy

Saudi Arabia extends term of $5 billion deposit for Central Bank of Egypt

The Egyptian economy has been hard-hit by the coronavirus pandemic and the war in Ukraine.
  • The Egyptian economy has been hard-hit by the coronavirus pandemic and the war in Ukraine
  • The package would allow Egypt to open '‘new financing channels with regional and international organizations''
Economy

UAE president waives over $146 million debt for 1,214 Emiratis

The Non-performing Debt Relief Fund will settle the money owed by Emiratis to 17 banks and institutions.
  • The Non-performing Debt Relief Fund will settle the money owed by Emiratis to 17 banks and institutions
  • Al Suwaidi said that the waiver falls within the UAE leadership’s keenness to ensure a decent life for all UAE nationals
Economy

Qatar says ‘400-500’ workers died on World Cup projects

More than 400 migrant workers died in labor accidents in Qatar in the build up to the World Cup, according...
  • Migrant workers make up more than 2.5 million of Qatar's 2.9 million population
  • Qatar has also introduced a minimum wage of 1,000 riyals ($260) and restricted hours in which workers can go out in extreme heat
Economy

OIC countries suffer US$63bn trade deficit in halal products; Turkey, Indonesia, Malaysia top exporters

The bloc's exports of halal products equaled US$275 billion, while their imports totaled US$338 billion last year, says the 2022...
  • The bloc's exports of halal products equaled US$275 billion, while their imports totaled US$338 billion last year, says the 2022 Annual OIC Halal Economy Report
  • While OIC countries remain import reliant for the food, pharmaceuticals and cosmetics sectors, they are net exporters of apparel and footwear products, it adds
Geostrategy

EU uncovers US$2.3-billion cross-border tax fraud

The EU announced the discovery of a sophisticated US$2.3-billion VAT tax fraud that triggered raids in 14 countries, including France,...
  • Prosecutors uncovered a network of "criminal activities" operating in almost all 27 EU member states.
  • These activities also operated in Albania, Britain, China, Mauritius, Serbia, Singapore, Switzerland, Turkey, the United Arab Emirates and the United States.
Geostrategy

‘Russian targeting of Ukraine energy is war crime’

BERLIN, GERMANY - Russian missile strikes on energy infrastructure in Ukraine constituted a "war crime", German Justice Minister Marco Buschmann...
  • A Russian campaign of missile strikes has severely damaged Ukraine's energy infrastructure.
  • The members of the G7 group of industrial democracies had to cooperate to combat war crimes.
Business

HSBC sells Canada ops for $10bn

Bank will use funds for core business, give cash to investors.
  • The large sale comes after UK-listed HSBC faced calls from biggest shareholder Ping An Insurance Group to cut costs and shift more resources to Asia.
  • The Canadian divestment is expected to be completed in late 2023.

Fifth France-Arab Summit: Forging partnerships for a sustainable tomorrow

As the world grapples with uncertainty, the summit offers a much-needed space for cooperation and innovation, led by the Franco-Arab...
Business

Company News

Latest News

Dubai witnesses green transit revolution

Dubai is actively implementing climate adaptation strategies and technologies in transportation and infrastructure to mitigate climate change effects and enhance...
Business

Moody’s downgrades US debt rating outlook to negative

Moody's is the only major agency to maintain its rating for US sovereign debt at its highest level -- underscoring...
Economy

Gaza health system has reached point of no return, says ICRC

The Red Cross called for medical facilities and workers in war-ravaged Gaza to be protected, warning the health system there...
Geostrategy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Economy

OFID’s US$25.5m loan to strengthen vocational education in Benin

VIENNA, AUSTRIA - The OPEC Fund for International Development (OFID) is extending a US$25.5 million loan to the Government of...
  • The project includes the rehabilitation of school facilities and a quality enhancement of the technical vocational education program.
  • It is aligned with a government program to tackle youth unemployment and reduce the size of the informal sector.
Economy

AI safety & innovation: Key focus of UAE-Spain tie-up

“I have been looking very carefully and intensely at the UAE’s strategy on AI, and it resonates a lot with...
  • UAE's artificial intelligence strategy is driving economic growth and establishing it as a global talent hub.
  • Collaboration between Spain and ADIA Lab in Abu Dhabi focuses on knowledge and talent exchange.
Economy

Dubai govt approves incentives to boost emirate’s economy

Dubai, UAE – Dubai government on Thursday approved several initiatives to stimulate the industrial sector in the emirate besides announcing...
  • The initiatives to boost industrial sector is in line with the goals of the Dubai Economic Agenda D33 and aims to increase manufacturing value added (MAV) by 15.79 billion
  • The Executive Council has extended its single-use bags reduction policy to encompass more plastic materials as part of the phasing out of single-use plastics by 2026