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.

ECB to cut rates again amid bleak eurozone outlook

The European Central Bank is expected to cut interest rates again this week amid a darkening outlook, with political turbulence...

Desertification talks open in Saudi Arabia as experts fire warning

UN talks aimed at halting the degradation and desertification of vast swathes of land start in Saudi Arabia. Forest loss...

Infographics

Will Gulf economies expand despite global woes?

Thanks to a strong rebound in domestic activities and higher oil prices, the latest IMF report suggests the GCC economies...
  • Thanks to a strong rebound in domestic activities and higher oil prices, the latest IMF report suggests the GCC economies to expand further than previously expected.
  • In 2023, the UAE economy will grow 4.2 percent, outpacing Saudi Arabia (3.7 percent), Bahrain (3 percent), Oman (4.1 percent), Kuwait (2.6 percent), and Qatar (2.4 percent)
Business

Qatar reaches long-term gas supply deal with Germany

QatarEnergy's partner, US firm ConocoPhillips, will supply the gas from Qatar's North Field East and South projects from 2026 to...
  • QatarEnergy's partner, US firm ConocoPhillips, will supply the gas from Qatar's North Field East and South projects from 2026 to the Brunsbuttel LNG terminal
  • Negotiations with European countries had previously struggled as Germany and others balked at signing the type of long-term deals made with Asian nations
Science

All regions experienced water extremes in 2021, says UN

GENEVA, SWITZERLAND - All regions of the world saw water extremes last year - both floods and droughts - and...
  • Large areas of the planet recorded drier than normal conditions in 2021, the UN's World Meteorological Organization said.
  • Some 3.6 billion people face inadequate access to freshwater at least one month per year.
Economy

EU spent €15.2bn on imports of green energy products last year

The trading bloc also exported green energy products worth €6.5 billion to countries outside the EU.
  • The trading bloc also exported green energy products worth €6.5 billion to countries outside the EU
  • The EU imported €11.2 billion worth of solar panels and €3.4 billion worth of liquid biofuels from countries outside the bloc
Economy

GCC banks earned $18.6bn in interest income in Q3: Kamco

During Q3-2022, non-interest income declined to a four-quarter low of $7.4 billion as compared to $7.8 billion during Q2-2022.
  • During Q3-2022, non-interest income declined to a four-quarter low of $7.4 billion as compared to $7.8 billion during Q2-2022
  • The aggregate GCC gross banking loans reached a new record of $1.93 trillion, increasing by 1.2 percent or $23.5 billion during the quarter
Economy

Kuwait Central Bank Issues Bonds, Tawarruq worth $792 million

The new securities bear a maturity term of six months and a return rate of 4.25 percent.
  • The new securities bear a maturity term of six months and a return rate of 4.25 percent.
  • Earlier on November 2, the Central Bank of Kuwait held its policy rate at 3 percent
Business

Saudi Airport to build a new airport in capital Riyadh

Saudi Arabia announced plans for a new airport in Riyadh while advancing the kingdom's ambitious aviation goals. The airport, set...
  • The airport is set to accommodate 120 million travelers by 2030 and 185 million travelers by 2050.
  • The new airport is expected to be able to process 3.5 million tons of cargo by 2050, local media said.
Science

UAE’s health and prevention ministry launches National Nutrition Strategy 2022-2030

DUBAI, UAE - UAE's Ministry of Health and Prevention (MoHAP) has launched the National Nutrition Strategy 2022-2030 to establish sustainable...
  • National Nutrition Strategy comes as part of MoHAP’s ongoing efforts to support the UAE’s visions aimed at improving the health of younger generations.
  • The strategy was launched during an event hosted by the ministry at the Etihad Museum.
Business

Kazakhstan eyes energy takeovers after blackouts, ‘mismanagement’

ALMATY, KAZAKHSTAN - Kazakhstan warned Monday it could nationalize struggling energy companies in the oil-rich Central Asian country after the...
  • Kazakhstan is a net exporter of energy, but high gas prices this year fueled historic and bloody protests.
  • Last month, Kazakh authorities said 65 percent of regional electricity networks needed repair.
Business

ADIB enables digital solutions to support UAE IPOs’ push

ABU DHABI, UAE - Abu Dhabi Islamic Bank (ADIB) announced that its retail customers were able to conveniently participate in...
  • ADIB said that 80 percent of clients subscribed to IPOs that were issued in 2022 through ADIB Mobile app.
  • ADIB is providing a quick and easy end-to-end process for IPOs subscriptions through mobile app.

ECB to cut rates again amid bleak eurozone outlook

The European Central Bank is expected to cut interest rates again this week amid a darkening outlook, with political turbulence...

Company News

Latest News

TASI-listed firms report an aggregate net profit of $48.1bn in Q3   

RIYADH, SAUDI ARABIA - Tadawul-listed companies reported a US$48.1 billion (SAR 157.09 billion) aggregate net profit for the third quarter...
Business

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

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Economy

Gaza unrest poses risk to oil markets, global growth

Middle East tensions likely to spur a mild global recession, with oil potentially hitting $120-$150 per barrel, says a latest...
  • Middle East tensions likely to spur a mild global recession, with oil potentially hitting $120-$150 per barrel, says a latest report by Oxford Economics.
  • The report predicts a quick rebound in equity markets post-conflict dip, while urging policymakers to ready economic safeguards and call for peace.
Business

Al Ansari 9M profit US$105m

The operating income of the group rose to US$234 million.
  • Al Ansari received shareholders’ approval for the proposed interim dividend payment of $81 million.
  • The second payment of the dividend of an equivalent amount will be disbursed in April 2024.
Economy

Saudi Arabia’s Industrial Production Index falls 11.2% in September

RIYADH, SAUDI ARABIA – The Kingdom of Saudi Arabia’s Industrial Production Index (IPI) fell by 11.2 percent year-on-year (YoY) in...
  • The IPI measures the relative change and reflects the production quantities of materials and goods.
  • Data issued by the General Authority for Statistics showed that Saudi IPI fell to 122.99 points in September.