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.

Economy – the biggest loser in the Israeli-Arab war

The sheer scale of destruction from the deadliest war in Gaza's history has made the road to recovery difficult to...

Economy

Stocks firm, dollar subdued as market flirts with outsized Fed cut

Asian stocks dithered and the dollar slipped on Monday in a week that is almost certain to see the start...

Economy
Economy

Adoption of new technologies tops Saudi Maritime Congress agenda

The purpose of the event is to highlight the most significant advancements in the digital transformation and adoption of cutting-edge...
  • The purpose of the event is to highlight the most significant advancements in the digital transformation and adoption of cutting-edge technological solutions in the sector
  • This edition is the first to be organised in person after the pandemic and the recovery of global economies from its unprecedented effects on the supply chain
Geostrategy

Lebanese woman robs bank to ‘pay for ill sister’s’ treatment

It was just the latest in a string of heists as Lebanese depositors, whose savings have been trapped in banks...
  • Sali Hafiz streamed a live video of her raid, in which she could be heard yelling at employees to release a sum of money while entrances to the bank were sealed.
  • She instantly turned into a folk hero on social media in Lebanon, where many are desperate to access their savings and furious at a banking sector perceived as a corrupt cartel.
Economy

European Union plans to cut soaring gas, electricity prices

In the EU's electricity market, the price is based on the last source used to meet demand -- often a...
  • Wholesale energy prices thus soared together when the war in Ukraine sent the cost of gas skyrocketing.
  • Commission chief Ursula von der Leyen said the levy, or cap, would raise at least $140 billion. The commission wants to reduce monthly consumption by 10 percent.
Business

Why are millionaires flocking to UAE?

By the end of 2022, the UAE is expected to attract more than 4,000 high-net-worth individuals, mostly from India, Russia,...
  • Around 25 percent of GCC's millionaires are moving to the UAE. At the same time, others are relocating to other regions like the UK, US and Europe.
  • The total private wealth of the wealthy in the UAE increased by US$46 billion between 2019 and 2021, to nearly US$917 billion, according to a Global Citizens report.
Geostrategy

Drop in German investors confidence sparks recession fear

BERLIN, GERMANY - German investor confidence fell in September for a third straight month, a closely watched survey showed on...
  • The ZEW institute's economic expectations index dropped 6.6 points from the previous month to minus 61.9 points.
  • For its survey, ZEW quizzes experts about the current economic situation and the outlook for the coming six months.
Geostrategy

India to invite UAE as ‘guest country’ at G-20 Summit

India, the incoming President of the Group of Twenty (G-20) announced that it will invite the UAE as one of...
  • The G-20 accounts for 85 percent of global GDP, 75 percent of international trade and two-thirds of the world population.
  • This is the first of a series of announcements being made by India preparatory to its assumption of the G-20 Presidency on December 1, 2022.
Geostrategy

High-level UAE economic delegation visits Georgia

A UAE economic delegation led by Minister of State Ahmed Ali Al Sayegh visited Tbilisi, Georgia.
  • UAE-Georgian economic relations have witnessed remarkable development in recent years.
  • Total non-oil trade between UAE and Georgia in 2020 and 2021 grew by 52 percent to reach US$223 million.
Business

UAE’s TDRA becomes member of global body EFQM

UAE's Telecommunications and Digital Government Regulatory Authority (TDRA) has announced that it has become a member of the European Foundation...
  • Telecommunications and Digital Government Regulatory Authority will support the implementation of EFQM's leading approach.
  • TDRA will utilize the integrated services provided by the EFQM to better equip its own teams to drive excellence.
Economy

New PPP law will help UAE achieve competitive economy: Massimo Falcioni

PPPs boost efficiency, increase transparency in funds management, simplify processes that have cost implications, and integrate technologies, said ECI CEO
  • PPPs boost efficiency, increase transparency in funds management, simplify processes that have cost implications, and integrate technologies, said ECI CEO
  • ECI, Falcioni added, has partnered with private companies and government institutions to enhance public infrastructures in and outside the UAE
Economy

US inflation likely eased in August, but not enough

Thanks to falling gasoline prices, US inflation has slowed down in August, but not enough to satisfy policymakers, especially President...
  • Prices have been soaring for months, exacerbated by the Russian invasion of Ukraine, which has impacted energy and food prices
  • Inflation also has become a hot political issue just weeks away from key midterm congressional elections, and Biden has made fighting high prices his top domestic priority

Economy – the biggest loser in the Israeli-Arab war

The sheer scale of destruction from the deadliest war in Gaza's history has made the road to recovery difficult to...
Economy

Company News

Latest News

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...
Business

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

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Business

Dubai Customs strengthens partnerships with courier firms to expand e-commerce

DUBAI, UAE - Dubai Customs recently convened an extensive meeting with the courier and express shipping companies, aimed at bolstering...
  • Dubai Customs unveiled its cutting-edge e-commerce project, strategically leveraging blockchain technology to streamline supply chain operations.
  • It also addressed all queries from participating companies and shared insights into the department's systems in this context.
Economy

FAO raises its forecast for global cereal production in 2023

ROME, ITALY - The Food and Agriculture Organization of the United Nations (FAO) raised its forecast for global cereal production...
  • The higher forecast is almost entirely based on recent and more positive yield estimates for the Russian Federation and Ukraine.
  • There will be increased wheat consumption while global rice utilization is forecast at 520.5 million tons.
Economy

Circular economy is a critical pathway to build sustainable future: Almheiri

Dubai, UAE-- Terming the circular economy as a critical pathway that builds a sustainable future by preserving natural resources, reducing...
  • Almheiri noted that the UAE is keen to promote the circular economy that contributes to sustainable growth through the cooperation of all key stakeholders
  • The review meeting took note of the pioneering efforts and actions taken by partners across the UAE to support the country's transition toward a circular economy