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.

Qatar’s non-energy private sector shows strong growth in 2024

Doha, Qatar – Qatar’s non-energy private sector recorded robust growth in the final months of 2024, according to the latest...

Economy

Females make up 37.6% of the GCC population of 57.6 million

Muscat, Oman - The population of the six GCC countries reached 57.6 million in 2023, compared to 56.6 million in...

Economy
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.
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)

Qatar’s non-energy private sector shows strong growth in 2024

Doha, Qatar – Qatar’s non-energy private sector recorded robust growth in the final months of 2024, according to the latest...
Economy

Company News

Latest News

Egypt annual core inflation falls 1.6 percent in October

Dubai, UAE--Egypt's annual core inflation rate decelerated by 1.6 percent in October, recording 38.1 percent, down from 39.7 percent in...
Economy

Insect farming ‘revolutionizes’ Gulf agriculture

Across the arid region, in which conventional agriculture is beset by many challenges, insect farming for livestock feed is perceived...
Economy

GCC keen to strengthen economic cooperation with Turkey: Albudaiwi

Istanbul, Turkey-- The Gulf Cooperation Council (GCC) is keen to enhance economic cooperation with Turkey, according to its Secretary General...
Economy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Business

Dubai Land Department calls for engaging accredited valuation offices

DUBAI, UAE – The Dubai Land Department (DLD) is committed to providing property owners with easily accessible resources to reinforce...
  • The list of accredited valuation offices is available on DLD’s official website and the Dubai REST app.
  • This will help ensure a fair and transparent approach concerning real estate assets and liabilities.
Geostrategy

Turkey halts joint-energy projects with Israel over Gaza war

Dubai, UAE-- Turkey has suspended joint-energy projects with Israel over the latter's invasion and bombardment of the Gaza Strip, according...
  • The Turkish energy minister said that it would be "inappropriate" to talk about the implementation of projects with Israel under such conditions
  • Israel has blocked access to water, food, and electricity in Gaza, plunging the coastal area into a humanitarian crisis as the death toll crosses 11,000
Economy

Saudi Arabia set to be global reference in smart cities

"The use of generative artificial intelligence (AI) extends beyond urban design and development. It involves creating smart cities tailored to...
  • The crucial role of generative AI in developing sustainable, resident-focused smart cities.
  • Saudi Arabia's integration of IoT into urban living, enhancing communication and connectivity.