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.

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

What are the needs and challenges of an ageing workforce?

Age bias in the world of work is real. But it is more complex and nuanced than the common narrative...

Economy

Egypt remittances drop 14.7% to US$2.38 billion in July

The drop comes as the exchange rate of the Egyptian pound is seeing a decline in light of the pressures...
  • Remittances from Egyptians working abroad are one of the most important sources of foreign exchange for the country, along with tourism, the Suez Canal, and exports
  • Expatriate remittances have increased since Egypt liberalized its currency exchange rate in November 2016 as part of economic reforms
Geostrategy

UAE FM meets Israeli Finance Minister, discusses economic cooperation

Sheikh Abdullah said that the UAE and Israel, since the signing of the Abraham Accords Peace Agreement, have established a...
  • Sheikh Abdullah said that the UAE and Israel, since the signing of the Abraham Accords Peace Agreement, have established a model for constructive cooperation
  • Lieberman welcomed the visit of Sheikh Abdullah and his accompanying delegation, stressing the importance of this visit in strengthening bilateral relations
Geostrategy

South Korea to enhance ties with hi-tech firms in Middle East

South Korea wants to strengthen its relations with the Middle East with a focus on high-tech industries, according to Seoul’s...
  • The focused hi-tech industries in the Middle East are energy, hydrogen, artificial intelligence and health.
  • The South Korean Foreign Minister said that they are trying to upgrade their ties with all the countries.
Geostrategy

GCC-India ink MoU for consultations mechanism

India has signed a Memorandum of Understanding (MoU) with the Gulf Cooperation Council (GCC) Secretariat on the "mechanism of consultations"...
  • The MoU was signed between India’s Minister for External Affairs Dr. S Jaishankar, and the GCC Secretary-General Dr. Nayef Falah Mubarak Al-Hajraf.
  • India’s Ministry of External Affairs said, "both sides reviewed bilateral relations and discussed ways to enhance them"
Business

Dubai records weeklong realty transactions worth $2.49 billion

Dubai, UAE---A total of 2,317 real estate transactions worth AED8.9 billion ($2.49 billion) were conducted during the week ending 16...
  • A total of 227 plots were sold for AED4.35 billion, and 1,560 apartments and villas were purchased for AED3.44 billion.
  • The top three transactions were plots of land in Madinat Al Mataar that sold for AED988 million, AED259.24 million in Al Yufrah 1 and AED988 million in Madinat.
Market Report

Stocks mostly slide; pound hits 37-year dollar low

Stock markets mostly slumped Friday, while the British pound tanked to a 37-year dollar low as weak UK retail sales...
  • Sales by volume dived 1.6 percent in UK last month, more than triple expectations.
  • Sterling has hit a series of 1985 lows in recent weeks, also as the US Federal Reserve implements aggressive hikes interest rate hikes.
Geostrategy

UAE participates in G20 Finance Track’s Infrastructure meeting

UAE Ministry of Finance (MoF) participated in G20 Finance Track’s fourth and last Infrastructure Working Group (IWG) meeting for 2022...
  • The members of the Infrastructure Working Group deliberated the progress made on scaling up sustainable infrastructure investments.
  • The IWG also discussed means of promoting private sector investment in sustainable infrastructure.
Geostrategy

Germany seizes Rosneft’s subsidiaries

Berlin took control of the German operations of Russian oil firm Rosneft to secure energy supplies which have been disrupted...
  • The seizures come as Germany is scrambling to wean itself off its dependence on Russian fossil fuels.
  • Move covers the companies Rosneft Deutschland GmbH and RN Refining & Marketing GmbH and their corresponding stakes in three refineries: PCK Schwedt, MiRo and Bayernoil.
Economy

Third ‘armed bank withdrawal’ in a week in Lebanon

When a branch of the Byblos bank opened in the southern town of Ghaziyeh, a depositor, reported to be in...
  • A man in 50 stormed a branch of Byblos bank in the southern town of Ghaziyeh and threatened bank employs with a gun and demanded his savings
  • The man walked away with around $19,000 and turned himself in to the police moments later as a crowd formed in front of the bank to support him
Business

DEWA smart meters’ number up 73% in four years

Dubai, UAE---Dubai Electricity and Water Authority (DEWA) recorded a growth in the number of smart water meters by 73.6 percent...
  • DEWA has more than two million smart electricity and water metres in Dubai.
  • Automating metre readings helps customers receive instant information on their consumption patterns and effectively manage, monitor and control their consumption.

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

Company News

Latest News

UAE to hold ‘Regional Cybersecurity Week’ to brainstorm plans to combat threats

Abu Dhabi, UAE--The UAE Cybersecurity Council will organise the Regional Cybersecurity Week 2023 from October 8-12, under the title "Cybersecurity...
Economy

Turkey set to realize long-term goal with bid to host Euro 2032

Turkey missed out to Germany for Euro 2024, with UEFA's evaluation of the bid highlighting concerns about the country's "lack...
Economy

UN voices concern over impact of Israel-Hamas war on food supply

The UN's World Food Programme expressed concern over the mounting challenges civilians, including vulnerable children and families, face in accessing...
Economy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Economy

Saudi Arabia explores carbon capture, storage potential

“Achieving success in this area will benefit everyone and align with the goals of the Paris Climate Agreement,” he adds...
  • The Kingdom can be a source of clean hydrogen and a producer/source of clean electricity, says Saudi Energy Minister Prince Abdulaziz bin Salman bin Abdulaziz Al Saud
  • Saudi Arabia has adopted a comprehensive approach harnessing potential for renewable energy, hydrogen production, and electricity transmission, the minister adds
Economy

Minimum pension for Saudi social security beneficiaries up 20%

Riyadh, Saudi Arabia -- Saudi Arabia's King Salman bin Abdulaziz Al Saud Sunday issued directives on raising the basic minimum...
  • The Citizen Account Program will remain in effect while adding certain factors to enhance support efficiency and ensure that benefits are received by the neediest groups.
  • Registration will remain open for Citizen Account Program beneficiaries to get additional financial support for three months until December 2023.
Business

Hotels in UAE generate revenues of US$7bn in first seven months, says minister

ABU DHABI, UAE - In the first seven months of the year, hotel establishments in the UAE generated revenues of...
  • Hotel establishments in the country hosted 16 million guests in in the first seven months of 2023, said the UAE economy minister.
  • Some 56 million hotel nights have been booked while the occupancy rate reached 75 percent from January to July.