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.

Qatar Airways seeking 25% stake in Virgin Australia

Qatar Airways unveiled a bid to take a 25 percent stake in troubled airline Virgin Australia on Tuesday, a deal...

Business

Middle East & North Africa: Regulatory momentum and DeFi fuel crypto adoption

The Middle East & North Africa (MENA) region ranks as the seventh-largest crypto market globally in 2024, with an estimated...

Economy
Business

Saudi-UAE non-oil trade increased by 92.5 percent in past decade

The value of non-oil exports from the UAE to Saudi Arabia over the past ten years was around AED205.5 billion,...
  • By end of 2012, the value of non oil trade between the two countries was AED 64.8 billion ($17.65bn)
  • The trade exchange between the two countries in the first half of 2022 totaled AED65.7 billion ($17.9bn)
Business

Xiamen Airlines to buy aircraft

The airline plans to buy 40 A320neo aircraft from Airbus.
  • The airline, based in the southeastern city of Xiamen has until now had exclusively Boeing aircraft in its fleet.
  • While weakened by the pandemic, airlines around the world are preparing for an expected doubling of air travel in the next two decades.
Geostrategy

‘Hungary wants EU sanctions on Russia lifted by year end’

Hungarian Prime Minister Viktor Orban wants EU sanctions on Russia over its invasion of Ukraine lifted by year end, a...
  • Hungary is highly dependent on Russian oil and gas and Budapest has already secured an exemption from sanctions on Russian crude oil imports via pipelines.
  • EU foreign ministers held an emergency meeting to discuss after Moscow mobilized reservists for its war in Ukraine.
Economy

Markets drop as Fed and European central banks hike rates

European markets were down in afternoon trades, with London's FTSE 100 shedding 0.5 percent after the Bank of England raised...
  • The world's major central banks are rushing to ramp up rates to dampen red-hot global consumer prices, but traders fear rising borrowing costs will herald recession.
  • In Asia, Indonesia and the Philippines also tightened monetary policy but the Bank of Japan bucked the global trend as it left its status quo in place.
Geostrategy

UAE, Jordan ink pact to standardize specifications

The UAE Ministry of Industry and Advanced Technology (MoIAT) signed a Memorandum of Understanding (MoU) with the Jordan Standards and...
  • The agreement aims to facilitate industrial, trade and economic growth in both the UAE and Jordan.
  • The pact encourages cooperation in conformity assessment procedures for non-food and non-pharmaceutical industrial products.
Business

Saudi Education Minister meets founder of edX platform in US

Saudi Arabia's Minister of Education Dr. Hamad bin Mohammed Al AlSheikh has met with the leaders of edX platform at...
  • The minister met the platform's founder to discuss ways to promote cooperation in the online education and e-training industry,
  • The two discussed ways to develop a partnership between the National Center for E-Learning FutureX and the edX platform.
Economy

UN chief wants ‘action’ to address climate loss, damage payments

UN Secretary-General Antonio Guterres called on governments to tackle "four burning issues" between now and COP27: greater ambition to keep...
  • The UN chief spoke about the flood in Pakistan and reminded world leaders of the Paris accord goal of limiting long-term warming to 1.5C above pre-industrial levels
  • Developing nations argue that historic polluters have a moral imperative to pay for the loss and damage, but the idea was shot down by rich nations at COP26
Economy

Europe throws billions at energy crisis

Hundreds of billions of euros and counting have been shelled out so far since Russia invaded its pro-Western neighbor in...
  • The public spending has continued even though European Union countries already accumulated mountains of new debt
  • But some leaders have taken pride at their use of the public purse to battle this new crisis, which has sent inflation soaring
Business

Saudi Arabia emerges as one of the world’s top eSports hubs

The PUBG Mobile tournament was part of Gamers8, a summer festival spotlighting Saudi Arabia's emergence as a global eSports dynamo...
  • Saudi Arabia's interest in gaming and eSports comes from the very top, with Crown Prince Mohammed bin Salman said to be an avid "Call of Duty" player
  • Saudi gamers are revelling in their country's newfound status and the eye-watering prize pools it brings
Economy

GCC central banks up interest rates, tracking US Fed

Taking a cue from Federal Reserve, GCC central banks have raised interest rates, tracking a hike in the US Fed's...
  • The UAE central bank raised the Base Rate applicable to the Overnight Deposit Facility (ODF) by 75 basis points – from 2.4% to 3.15%
  • The US central bank announced its third consecutive interest rate increase of 0.75 percentage point, continuing the forceful action to tamp down inflation

Qatar Airways seeking 25% stake in Virgin Australia

Qatar Airways unveiled a bid to take a 25 percent stake in troubled airline Virgin Australia on Tuesday, a deal...
Business

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