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.

Coal mine blast in Iran kills more than 50 mine workers

A blast caused by a gas leak at an Iranian coal mine has killed at least 51 people, state media...

Economy

Standard & Poor’s affirms Saudi Arabia’s ‘A/A-1’ credit rating

Riyadh, Saudi Arabia – Standard & Poor's (S&P) affirmed the Kingdom's credit rating in local and foreign currency at "A/A-1"...

Economy
Economy

Saudi Arabia launches three new iron and steel projects

An integrated iron sheet production complex with a capacity of 1.2 million tonnes per year is one of the projects.
  • An integrated iron sheet production complex with a capacity of 1.2 million tonnes per year is one of the projects
  • A factory will also be established to produce circular iron blocks with an estimated production capacity of one million tonnes per year
Infographics

UAE solar energy leader in Arab world

Arab countries are constructing solar and wind energy plants with a total capacity of 73.4 gigatons, which is nearly five...
  • Renewable energy generation projects in the Arab countries will reach nearly 92 percent of the region's total targets by 2030.
  • More than 12 gigatons of wind and solar energy are currently produced in the Arab region, the report said.
Market Report

Stock markets rally, as euro briefly surges

Stock markets rallied Monday, building on pre-weekend momentum as investors priced in the expectation of further interest rate hikes aimed...
  • The euro surged a day after German central bank chief signaled the European Central Bank would probably continue raising its key rate.
  • The European single currency rocketed more than 1.4 percent against the dollar and 1.6 percent versus the yen before trimming gains around midday.
Geostrategy

Norway skeptical about EU proposal on gas price cap

Norway, which has replaced Russia as Europe's leading supplier of natural gas, dashed the hopes of EU member states who...
  • European energy ministers who met in Brussels said they were in favor of measures for combating soaring gas and electricity prices.
  • European Commission has proposed a price ceiling on gas imported from Russia, several members called for a price ceiling on all gas bought by EU states.
Business

Abu Dhabi industrial sector registers 136 new licenses in H1

Abu Dhabi, UAE-- The registration of 136 new industrial licenses in the first half of 2022 points to a strong growth...
  • The number of  licenses transitioning to the construction phase reached 62, with the number of licenses having moved from under-construction to in-production reaching 44 factories.
  • The total value of Capital Expenditures (CAPEX) of industrial establishments that switched to in-production stage rose to AED 3.1 billion compared to AED 1.03 billion in H1 2021.
Science

IAEA approves operational safety at Barakah Nuclear Power Plant

An International Atomic Energy Agency team of experts said the UAE's Barakah Nuclear Power Plant (NPP) had strengthened operational safety...
  • The Operational Safety Review Team had concluded a five-day follow up mission to the Barakah NPP.
  • OSART missions aim to improve operational safety by independently assessing safety performance against the IAEA’s safety standards.
Science

UAE issues updated second NDC to reduce emission

The UAE Cabinet, headed by Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, approved...
  • The new document outlines the country’s increased climate target of reducing greenhouse gas emissions by 31 percent.
  • The reduction target translates into an absolute emission avoidance of 93.2 million metric tonnes of CO2e.
Economy

Qatar private sector exports up 21 percent in second quarter: Chamber

Qatar’s private sector exports during the second quarter of 2022 amounted to QAR 8.92 billion ($2.44 billion), a 21 percent...
  • On a quarterly basis, it also surged 15.4 percent compared to QR 7.73 billion in Q1-2022.
  • The report attributed the surge to the private sector’s ability to adapt to normal and abnormal economic conditions and to achieve rising growth rates.
Geostrategy

UN urges EU against fossil fuels in energy crisis

The UN urged EU countries on Monday to continue battling climate change and not resort to more fossil fuels in...
  • Moscow's invasion of Ukraine has seen the price of natural gas hit record levels, throwing the European Union economy into deep uncertainty.
  • Before the war, 40 percent of the EU's gas imports came from Russia.
Business

Costa Rica-UAE bilateral trade up by 292 percent since 2017: Minister

Abu Dhabi, UAE--Costa Rica's foreign minister Arnoldo Andre has said that the trade between his country and the UAE has...
  • For the year 2021, the total trade between both countries reached $49.1 million.
  • 37 Emirati companies have attended a Costa Rican trade fair to learn about the country's productive capacities and its export potential.

Coal mine blast in Iran kills more than 50 mine workers

A blast caused by a gas leak at an Iranian coal mine has killed at least 51 people, state media...
Economy

Company News

Latest News

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...
Economy

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...
Business

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

Most Read

Economy

UAE as hub will help food security corridor under I2U2 framework: Indian minister

Abu Dhabi, UAE - The UAE as a geographical and business hub will help the proposed ‘food security corridor project...
  • The UAE as a trading hub can cater to the GCC, CIS countries [former Soviet Republics], eastern Europe and all of Africa, Piyush Goyal said
  • Food corridor will get large economies of scale and will contribute not only to global food security but also help keep the food prices in check., he added
Economy

Vision 2040: Saudi Arabia’s new economic blueprint

Saudi Crown Prince Mohammed bin Salman recently unveiled glimpses of the audacious Vision 2040 that will focus on green hydrogen,...
  • Saudi Crown Prince Mohammed bin Salman recently unveiled glimpses of the audacious Vision 2040 that will focus on green hydrogen, clean energy, and technology advancements
  • With a focus on diversifying the economy, enhancing global competitiveness, and fostering innovation, Saudi Arabia is poised to redefine its global economic standing
Business

Dubai’s weeklong real estate transactions exceed US$2.5bn

DUBAI, UAE -  A total of 1,445 real estate transactions worth over US$2.5 billion (AED 9.5 billion) were conducted during...
  • The Dubai Land Department report showed that 248 plots were sold for US$476 million.
  • The DLS report said 1,197 apartments and villas were purchased for US$865 million.