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.

Democratization of investments: Digital platforms open private equity to individual investors

The shift towards greater accessibility – which has accelerated particularly within the last five years – has opened up new...

Saudi Arabia records $5.6 billion trade surplus in October 2024 with 30% growth

Riyadh, Saudi Arabia - Saudi Arabia’s trade balance recorded a 30% monthly growth, achieving a surplus of SAR 20.769 billion...

Economy
Economy

Mohammed bin Rashid approves Dubai rural area development master plan

DUBAI, UAE - Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai has approved the...
  • The Plan seeks to preserve the nature of areas including Lehbab, Margham, Al Marmoom, Al Lisaili, Al Faqaa and Al Aweer.
  • It also aims to offer a unique touristic experience and transform each area into a key tourist destination in the emirate.
Economy

Saudi Minister inaugurates Aquatic Animal Diseases Network

RIYADH, SAUDI ARABIA - Saudi Minister of Environment, Water and Agriculture, Engineer Abdul Rahman bin Abdul Mohsen Al-Fadhli inaugurated Sunday...
  • The launch aims to strengthen the aquaculture industry, prevent aquatic diseases, support the production of aquatic organisms.
  • It also aims to meet the growing demand for aquaculture and its products, reduce the spread of diseases, train veterinarians and specialists in aquatic health.
Business

SCCI, Moscow Chamber discuss trade, cooperation

SHARJAH, UAE - The Sharjah Chamber of Commerce and Industry (SCCI) discussed business and investment opportunities in the UAE and...
  • Sharjah has many strategic advantages for Russian companies which plan to expand in the region's markets.
  • Sharjah is an ideal environment for industrial companies in various sectors, especially startups.
Business

DEWA commissions two new transmission substations

DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) has commissioned a new 132/11kV substations in Al Awir First with...
  • DEWA inaugurated a new transmission 400/132kV substation in Jebel Ali First.
  • DEWA inaugurated an overhead cables with a conversion transmission of 2,000 MVA, at a total cost of US$92 million.
Economy

Abu Dhabi’s GDP expands by 11.2 percent in first half of 2022

The quarterly GDP growth rate reached its highest value in six years during the second quarter of 2022 which hit...
  • The real GDP value (at constant prices) exceeded AED543 bn ($147 bn) and the value of the non-oil sectors' GDP increased AED28.4 bn compared to H1 to reach AED273 bn in total.
  • According to data released by SCAD, the mining and quarrying activities (including crude oil and natural gas) contributed 49.7 percent to the real GDP.
Economy

Jordan looks to partner with private sector to prop up economy

Amman, Jordan— The Kingdom of Jordan intends to foster a "robust partnership" with the private sector of the country that...
  • He said the economic modernization scheme set a roadmap for the next stage to stimulate and advance the national economy
  • Shamali said the department has a reform scheme to provide facilities to importers and exporters at border crossings
Economy

In rain-starved Iraq, a dam threatens to swallow farmland

Five villages are located on the site of the Makhoul dam and "a commission has been formed to ensure adequate...
  • Tens of thousands of Iraqis are threatened by the Makhoul dam, which the government hopes will be operational on the mighty Tigris in five years
  • There are repercussions for flora and fauna, warn environmental groups Save the Tigris and Humat Dijlah, who say the ancient city of Ashur -- a UNESCO listed site -- is at risk
Economy

China’s zero-Covid policy ignites rare protests in Shanghai

In a rare display of anger against the Chinese government, scores of protestors took to the streets of Shanghai early...
  • A deadly fire on Thursday in Urumqi, the capital of northwest China's Xinjiang region, spurred an outpouring of anger as many social media users blamed lengthy Covid lockdowns
  • Video taken by an eyewitness on Sunday showed people gathering in central Shanghai to mourn the 10 victims killed in the Urumqi fire
Economy

Updated labor laws give UAE job market an edge as cap removed on fixed-term employment contracts

Both employers and employees stand to benefit from the UAE's recent labor law amendments, Ben Brown, Partner at the law...
  • Both employers and employees stand to benefit from the UAE's recent labor law amendments, says Ben Brown, Partner at the law firm Addleshaw Goddard
  • To conform to the new UAE labor laws, many firms have already handed three-year fixed-term employment contracts to their employees
Science

NASA successfully places Orion spacecraft in lunar orbit

WASHINGTON, UNITED STATES - NASA's Orion spacecraft was placed in lunar orbit Friday, officials said, as the much-delayed Moon mission...
  • The spacecraft is to take astronauts to the Moon in the coming years -- the first to set foot on its surface since the last Apollo mission in 1972.
  • While in lunar orbit, flight controllers will monitor key systems and perform checkouts while in the environment of deep space, the agency said.

Democratization of investments: Digital platforms open private equity to individual investors

The shift towards greater accessibility – which has accelerated particularly within the last five years – has opened up new...

Company News

Latest News

Saudi delegation takes part in Riyadh Expo 2030 symposium in Paris

PARIS, FRANCE -  A high-level Saudi delegation attended the Riyadh Expo 2030 Symposium, on the outskirts here, hosted by the...
Business

Sustainably yours: Redefining travel for green future

The future of travel is expected to see greater use of renewable energy in transportation and advancements in technology, driving...

Oil prices edge up on Iraq’s backing for OPEC+ output cuts

New York, United States - Oil prices saw a modest 2% increase on Friday, boosted by Iraq's expressed support for...
Economy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Business

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...
  • By the end of the decade, the emirate aims to have 10% of public buses run on hydrogen or electric powered, ramping up to 20% by 2035, 40% by 2040, 80% by 2045
  • According to Sandalkhan, of BCG, Dubai aims to set a global standard in eco-friendly transportation and RTA's 2050 Zero-Emissions plan reflects that ambition
Economy

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...
  • The US budget deficit, published last month for the 2023 fiscal year ending September 30, has widened to $1.7 trillion
  • Due to interest rate hikes by the US central bank to curb inflation, the cost of debt for the United States has ballooned
Geostrategy

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...
  • Medical facilities and personnel across Gaza have repeatedly come under attack since Israel's war with Hamas erupted just over a month ago.
  • Such attacks have dealt "a heavy blow to the healthcare system in Gaza, ICRC said.