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.

Lebanon flights suspended as Hezbollah-Israel tensions continue to spiral out of control

Major airlines such as Emirates, Qatar Airways and Air France have suspended growing numbers of flights to Lebanon as tensions...

Residential, hospitality sectors drive Saudi Arabia’s real estate market in H1 2024

The Kingdom’s tourism and entertainment investments, including a new star rating system, support growth in hospitality, positioning Saudi Arabia as...

Economy
Economy

Away game: Qatar World Cup looms as money-spinner for Dubai

With little investment the UAE, and in particular Dubai, stands to gain if, as expected, supporters opt to stay in...
  • Budget airline flydubai will run at least 30 return flights a day to Doha, just an hour away
  • Dubai Sports Council has estimated about a million World Cup fans could arrive in the city
Economy

Morocco, Nigeria agree on project to pipe gas to W.Africa and Europe

The agreement to go ahead with the Nigeria-Morocco Gas Pipeline project was inked in Rabat by the two countries and...
  • Once completed, it would be connected to the Maghreb–Europe Gas Pipeline in order to reach the European gas network
  • The project was agreed upon at a time of strong international demand for oil and gas and a surge in prices following Russia's invasion of Ukraine
Economy

Tunisia government reaches pay deal with key union

The deal involves a five percent annual hike to public sector wages every year until 2025. The head of the...
  • Tunisia has been hit hard by the coronavirus pandemic and global diplomatic fallout from the war in Ukraine
  • The government is locked in negotiations with the International Monetary Fund over a $2 billion bailout
Geostrategy

ENEC shares expertise at cyber energy leadership forum

The Emirates Nuclear Energy Corporation (ENEC) hosted the first edition of the CyberEnergy Leadership Forum (CELF) in Abu Dhabi. Over...
  • The one-day forum featured a leadership briefing, followed by a technical forum hosted by ENEC and the United States Department of Energy
  • ENEC is a leading entity that is spearheading cyber security in the UAE’s clean energy sector
Business

Rosneft H1 net profit up 13%

The energy giant's H1 net profit rose to $7.2 billion.
  • Having processed 45.8 million tonnes of oil this semester, Rosneft said its debt decreased by 12 percent from the beginning of the year.
  • The company' revenues increased by 32.5 percent, reaching $86.7 billion.
Business

Thai SC dismisses Toyota appeal

The court dismisses appeal over $270m import tax bill.
  • The case relates to Toyota Motor Thailand's importation of parts for its Prius model at a reduced tax rate between 2010 and 2012.
  • While Thailand's Central Tax Court ruled in favor of Toyota in 2017, the decision was later overturned.
Economy

Sharjah to host International Jewelry Designers Forum

Expo Centre Sharjah has said that it will host the International Jewelry Designers Forum on October 7.
  • The forum will discuss a number of thematic topics, including future trends in jewelry and gem designs.
  • It will also discuss important techniques used in combining stones and lab-created diamonds.
Economy

Saudi Consumer Price Index rises by 3% in August: GASTAT

General Authority for Statistics said the main drivers of CPI inflation were the higher prices of food & beverages and...
  • In August 2022, the Wholesale Price Index increased by 5.6 percent compared to the same month in 2021, but down from 6.8 percent in July 2022.
  • The increase resulted mainly from the increase in metal products, machinery and equipment prices that have a relatively high weight in the index.
Geostrategy

US again approves most aid to Egypt despite rights concerns

President Joe Biden's administration on Wednesday approved most military aid to Egypt for a second straight year despite concerns on...
  • Some of Biden's political allies have pressed for a wider cutoff of aid to Egypt, which rights groups estimate is holding more than 60,000 prisoners of conscience
  • Senator Chris Murphy, a Democrat, scoffed at the idea that Egypt was making progress and earlier this week called on the administration to withhold more funds
Business

JAFZA facilitates more than a third of Dubai automotive volume

Dubai, UAE-- Jebel Ali Free Zone (Jafza), part of DP World Group, has facilitated over 1.2 million metric tons (MT)...
  • This is equivalent to $12.4 billion, more than a third of the total trade worth $31.3 billion.  
  • Dubai hosts the region’s biggest automotive trading hub and the largest used car market.

Lebanon flights suspended as Hezbollah-Israel tensions continue to spiral out of control

Major airlines such as Emirates, Qatar Airways and Air France have suspended growing numbers of flights to Lebanon as tensions...

Company News

Latest News

Dubai at top global ranking for attracting Greenfield FDI projects in H1 2023

DUBAI, UAE - Dubai remains the top global destination for attracting Greenfield Foreign Direct Investment (FDI) projects, with the emirate...
Business

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...
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...
Economy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Economy

Saudi Arabia and South Korea pledge to ramp up ties in various fields

Riyadh, Saudi Arabia-- Saudi Arabia and South Korea have pledged to strengthen cooperation in various fields. According to a press...
  • The crown prince and the president reviewed the pace of cooperation made in a wide range of areas since the Saudi leader's visit to South Korea last year
  • Last year, Saudi Arabia and South Korea pledged to strengthen cooperation in the fields of energy, defense, and infrastructure and construction
Economy

In a world first, EU gives nod to green bond standards

Brussels, Belgium - European Parliament has adopted a new voluntary standard for the use of a “European Green Bond” label, the...
  • The regulation, adopted by 418 votes in favour lays down uniform standards for issuers who wish to use the designation ‘European green bond’
  • The standards will enable investors to direct their money more confidently towards more sustainable technologies and businesses
Economy

Putin launches Russian gas shipments to Uzbekistan

"This is the largest trilateral energy project" between the three ex-Soviet countries, Putin said, after formally launching the shipment. He...
  • Despite being home to a wealth of natural  resources including gas, the Central Asian country of Uzbekistan has faced energy shortages
  • Moscow meanwhile relies heavily on energy revenues but has seen export plummet amid since the  offensive