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.

Central & Southern Asia and Oceania region leads the world in cryptocurrency adoption

The fifth annual Chainalysis Global Crypto Adoption Index looks at both on- and off-chain data to determine which countries are...

Economy

China’s Xi promises US$50 billion for Africa over next three years

China, the world's number two economy, is Africa's largest trading partner

Business
Business

$3 billion joint-venture railway to link Oman and UAE

The 303km railway, with passenger trains traveling up to 200kmper hour, will join up with the UAE's national network that...
  • The railway will link Abu Dhabi with Oman's deep-sea Sohar port, which bills itself as a nexus of trade between Asia and Europe.
  • A multi-billion dollar railway linking the six Gulf Cooperation Council countries has languished since a feasibility study was approved in 2004.
Geostrategy

EU proposes new sanctions on Russian exports

The EU's executive proposed a new round of sanctions on Moscow over its latest "escalation" in Ukraine, including an oil...
  • As part of the new round of sanctions the commission is laying out a 'legal basis' for a price cap on Russian oil
  • It will also look to ban Russian exports worth $7 billion and tighten restrictions on goods flowing from the EU.
Economy

Lebanon to devalue currency first time in two decades: Official

The exchange rate has been officially pegged at 1,507 Lebanese pounds to the dollar since 1997, but will drop to...
  • Lebanon's local currency has lost more than 95 percent of its value on the black market since the 2019 onset of the country's financial crisis, branded by the World Bank.
  • The decision to shift the peg follows a visit last week by a delegation from the International Monetary Fund, which is pressing Lebanon to implement reforms.
Geostrategy

UAE, Japan sign comprehensive strategic partnership pact

Minister of Industry and Advanced Technology and UAE Special Envoy to Japan Dr. Sultan bin Ahmed Al Jaber and the...
  • The UAE-Japan strategic partnership agreement aims to bolster relations between the two countries to advance their common interests.
  • The key areas of the partnership include diplomacy, enhancing international development, humanitarian aid efforts, business, trade, energy.
Science

Jordan, Germany discuss scientific research, ties in water sector

Jordan's The Royal Scientific Society (RSS) and the Princess Sumaya University for Technology (PSUT) discussed with the German Research Foundation...
  • A German Research Foundation (DFG) delegation visits Jordan and discusses scientific and research ties in the water sector.
  • The delegation included 22 researchers, professors and representatives from the German Academic Exchange Service (DAAD).
Business

IHC buys 54% stake in Emircom

Firm buys stake for $68 million via its subsidiary IHC Digital
  • Emircom is the Middle East’s leading information and communications technology (ICT) provider.
  • This $68 million purchase comes as part of IHC’s strategy to grow its digital assets portfolio and expand into new growth areas.
Economy

Last three Turkish banks to drop Russia’s Mir bank cards

The decision follows weeks of intensifying pressure from Washington for NATO member Turkey to limit its booming economic relations with...
  • Two private Turkish lenders that began processing Mir after President Erdogan met Russian counterpart Vladimir Putin in August suspended the transactions early this month
  • Mir cards offer millions of Russians that vacation in Turkey each year a way to access their rubles and pay for everything from restaurants to hotels
Economy

WTO chief warns world edging into ‘global recession’

WTO Director-General Ngozi Okonjo-Iweala said Russia's war in Ukraine, the climate crisis, food price and energy shocks plus the aftermath...
  • She noted that the World Bank and the International Monetary Fund had both downgraded global growth forecasts, while indicators on trade numbers were "not looking too good".
  • She urged central banks to determine whether inflation was being caused by strong demand or whether the rise in prices was linked to structural problems on the supply side.
Economy

Saudi Arabia ranks first in G20 visitors flow rating: report

According to the report, the number of foreign tourists visiting the kingdom has surged 121 percent from January to July...
  • According to the report, the number of foreign tourists visiting the kingdom has surged 121 percent from January to July 2022
  • Saudi tourism sector is currently recovering from the fallout of the pandemic following preventive measures taken by the government
Economy

ADB boosts Asia-Pacific food security financing to $14 billion

The bank, which has 49 members stretching from the Cook Islands in the Pacific to Kazakhstan in Central Asia, usually...
  • The financing would target among other things food production and distribution. ADB says 1.1 billion people in the region "lack healthy diets due to poverty and food prices".
  • The announcement comes after the bank recently cut its 2022 growth forecast for the region, to 4.3 percent from its April projection of 5.2 percent.

Central & Southern Asia and Oceania region leads the world in cryptocurrency adoption

The fifth annual Chainalysis Global Crypto Adoption Index looks at both on- and off-chain data to determine which countries are...
Economy

Company News

Latest News

‘Qatar is a role model in security, sustainable tourism’

"The country's experience in securing the FIFA World Cup Qatar 2022 was noteworthy. The nation's success in this significant challenge...
Economy

Yellen urges more IMF, World Bank reforms for climate, poverty fight

Benguerir, Morocco - US Treasury Secretary Janet Yellen said on Tuesday she backed efforts to boost the lending firepower of the...
Business

First wind turbines reach Saudi green hydrogen plant, says CEO

RIYADH, SAUDI ARABIA - The first wind turbines have arrived at what Saudi officials bill as the world's biggest green hydrogen...
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Economy

IMF forecasts UAE GDP growth of 3.4% in 2023

MARRAKESH, MOROCCO - The International Monetary Fund (IMF) has forecast that the UAE's real Gross Domestic Product (GDP) will grow by...
  • The IMF's forecast is in line with that of the World Bank, which released a similar estimate two days ago.
  • It forecast that the economies of Middle East and Central Asia will grow by 2 percent in 2023 and 3.4 percent in 2024.
Economy

World economy resilient, says IMF; keeps growth forecast unchanged

The IMF kept its 2023 global growth forecast unchanged but warned that the economy is "limping along" as inflation remains...
  • Inflation, which has fallen sharply since last year, is predicted to remain elevated at 6.9 percent this year.
  • Central banks across the globe have raised interest rates sharply in efforts to contain inflation.
Geostrategy

Israel-Hamas conflict sparks global economic anxiety

With potential spikes in oil prices and uncertainty surrounding major projects like the IMEC, the world faces a complex economic...
  • With the world grappling with economic challenges, the sudden escalation in the Middle East threatens to send oil prices skyrocketing
  • Recent reports suggested that Saudi leaders were considering boosting oil production to foster better relations with Israel