INSEAD Day 4 - 728x90

Economy

Sanad posts record revenue

Growth driven by global demand for services.

Bank of Sharjah profit up 39%

Bank's total assets grow 10% to $14.4 billion.

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.

Asia-Pacific markets mixed after Powell signals smaller rate cuts

Asia-Pacific markets are mixed on Tuesday, after Federal Reserve Chair Jerome Powell indicated the recent outsized cuts enacted by the...

Economy

UAE airports see 14.2% passenger traffic surge in H1

Abu Dhabi, UAE -UAE's airports experienced a 14.2 percent increase in passenger traffic, in the first half of 2024, handling...

Economy
Business

GHD, Fraunhofer–Gesellschaft to help develop UAE hydrogen policy

The Ministry of Energy and Infrastructure (MoEI) of UAE announced that it had signed an agreement with GHD Group, in...
  • UAE's National Hydrogen Strategy will help in formulating policies for energy-mix diversification strategies and net-zero targets by 2050.
  • Crucial elements must be in place for a booming hydrogen-based economy, including proper infrastructure, technological readiness and market access.
Geostrategy

UAE to provide Germany gas, diesel under ‘energy security’ deal

As part of the deal, the UAE will provide "an LNG cargo for delivery in late 2022, to be used...
  • The fact that we are dependent on one supplier and also dependent on its decisions will certainly not happen to us again, Scholz said.
  • In Qatar, the last stop on his two-day Gulf tour, the chancellor said the emirate's rights record is improving.
Economy

Saudi launches five projects to produce electricity using renewable energy

Riyadh, Saudi Arabia--Saudi Arabia has launched five new projects to produce electricity using renewable energy, which is part of the...
  • Saudi Energy Procurement Company (the main buyer) launched the projects for competition.
  • These projects, with a total capacity of 3300 MW, include three projects to exploit wind energy and two projects to exploit solar energy.
Business

German bakeries struggle to survive as costs spiral

Germany's center-left government has announced relief measures worth almost 100 billion euros to tackle inflation, but small businesses have so...
  • The war has sent energy prices spiraling across Europe, but especially in Germany, which was previously heavily dependent on Russian gas
  • Many bakeries in Germany have already gone under as a result of recent cost increases, with others staging protests to demand urgent help from the government
Geostrategy

Lebanon migrant ship death toll rises to 94

The toll has repeatedly ratcheted higher since the first bodies were found on Thursday. The United Nations High Commissioner for...
  • At least 14 survivors were recovering in hospitals in Syria, while six others were discharged
  • Since 2020, Lebanon has seen a spike in the number of migrants using its shores to attempt the perilous crossing in jam-packed boats to reach Europe
Business

TotalEnergies, Qatar ink pact

TotalEnergies to invest $1.5bn in natural gas production.
  • Qatar Energy and TotalEnergies as partners will together work for the development of the North Field South gas project.
  • TotalEnergies will have 9.3 percent of the North Field South project, Qatar Energy Minister said, for which 25 percent will be reserved for foreign energy firms.
Economy

‘More efforts needed for net zero carbon emissions by 2050’

More efforts are required to make the world reach net zero emissions by mid-century, according to the International Energy Agency's...
  • Recent technology developments and policy actions suggest momentum is accelerating in some important regions and sectors to achieve net zero by 2050.
  • Initial estimates point to 2022 being a record year for renewable electricity capacity additions, with an increase of about 340 gigawatts.
Economy

Dubai emerges as a driving force for a green economy

Dubai is consolidating its position as a pioneer in transitioning to a green economy to support the efforts of the...
  • Dubai had launched an in-depth study that showed how the Emirate can achieve carbon neutrality (net zero emissions) by 2050.
  • The Dubai Net Zero Carbon Emissions Strategy 2050 aim to provide 100 percent energy from clean energy sources by 2050.
Economy

Dow drops to lowest level in two years as recession looms

Falling for the fourth straight session, Wall Street stocks finished lower on Friday as markets bet on the rising risk...
  • The Dow Jones Industrial Average tumbled 1.6 percent to 29,590.41, its lowest closing value since November 2020
  • The drop came after the Federal Reserve Wednesday enacted a third straight interest rate increase of 0.75 percentage point
Economy

Arab youth prefer UAE over home country to live, work

Key attractions in the UAE include economy, secure environment, rewarding salary packages, a wide range of job opportunities, and the...
  • The top five attractions in the UAE are growing economy, secure environment, rewarding salary packages, a wide range of job opportunities, and the wise leadership, says a survey
  • Young Arabs living in the country agree that the UAE is the ideal place for them to live and work, citing its benefits, diversity of opportunities, and flexibility in the laws

Asia-Pacific markets mixed after Powell signals smaller rate cuts

Asia-Pacific markets are mixed on Tuesday, after Federal Reserve Chair Jerome Powell indicated the recent outsized cuts enacted by the...
Economy

Company News

Latest News

Activists term IMF, World Bank ‘worst scam of the century’

Activists from developing nations belonging to a group called People's Alternative Global Tribunal organized themselves in the Moroccan city as...
Economy

US wholesale prices rise more than expected in September

Washington, United States - US wholesale prices rose more than expected in September, government data showed Thursday, as energy prices continued...
Economy

IMF slashes its growth forecast for China and eurozone

Marrakech, Morocco-- The International Monetary Fund on Tuesday cut its growth forecasts for China and the euro zone and said...
Economy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Economy

UAE to sign six more CEPAs by year end: Al Zeyoudi

Dubai, UAE--The UAE will sign six new comprehensive economic partnership agreements (CEPA) with South Korea, Thailand, Chile, Costa Rica, Colombia,...
  • The minister made the remarks about the new CEPA agreements during a press conference to announce the UAE-Georgia CEPA
  • He added that agreements will be signed with South Korea, Thailand, Chile, Costa Rica, Colombia, and Ukraine in the next few months
Economy

Saudi non-oil GDP growth to be strong despite oil cuts

Tourism and entertainment sectors are likely to help Saudi Arabia's non-oil GDP grow robustly in the coming years, despite a...
  • Tourism and entertainment sectors are likely to help Saudi Arabia's non-oil GDP grow robustly in the coming years, despite a 6.5% drop in oil production, says a report
  • The World Bank, meanwhile, revises the Kingdom's growth forecast, highlighting challenges in the broader MENA region due to global financial conditions and inflation
Economy

‘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...
  • The third Arab Tourism Security Forum focuses on green tourism, governance, and digital transformation
  • Arab tourism sector recovers post-pandemic with a 15% increase in inbound tourism, highlight experts