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.

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...

ECB set to cut interest rates before the Fed’s big decision next week

The European Central Bank on Thursday is set to slash rates again by 25 basis points just days ahead of...

Economy
Business

Ethereum blockchain to undergo ‘monumental’ overhaul

Developers have spent years working on a more energy-efficient version of the ethereum blockchain, a digital ledger that underpins a...
  • Experts say the changeover, expected to take place between Tuesday and Thursday, would slash energy consumption by more than 99 percent
  • The ING bank said in a recent note that the switchover might help ethereum gain acceptability among policymakers and regulators
Economy

IsDB sanctions US$1.12bn financing for member countries

The Islamic Development Bank (IsDB) has approved a $1.12 billion financing for development projects in various sectors in nine member...
  • In the Republic of Uganda, the financing of US$ 100 million, part of the Islamic tranche, will enable the country to untap its oil reserves and export oil to international markets
  • In the Health sector, sovereign financing of $207 million was approved for the Strengthening of the National Referral Hospital on Oncology Center for Indonesia
Business

Loan exemptions: GCC’s way to help individuals, firms

The Gulf countries assist loan defaulters by delaying payments or exempting those who can't pay to save emerging companies and...
  • The Gulf countries assist loan defaulters by delaying payments or exempting those who cannot pay to save emerging companies and prevent their accumulation of financial burdens
  • Loan exemptions in sectors such as housing, health, marriage and investments are estimated to be in millions of dollars across the region
Geostrategy

Queen Elizabeth II funeral on September 19 in London

The state funeral for Queen Elizabeth II will be held at Westminster Abbey in London at 11:00 am (1000 GMT)...
  • Buckingham Palace also confirmed that the queen, who died on Thursday aged 96, will then be taken to St George's Chapel at Windsor Castle.
  • The queen's coffin will be taken on a 180-mile (290-kilometre) trip by road from the remote estate to the Palace of Holyroodhouse in Edinburgh.
Geostrategy

Summit in UAE discusses global partnerships, prosperity

Over 200 senior officials convened in the "Ambassadors Forum", organized by the World Government Summit Organization in partnership with UAE...
  • The summit discussed role of diplomacy in shaping future governments and achieving global prosperity.
  • UAE Minister of Economy spoke on the critical priorities for governments in the next decade.
Business

‘Jordan not affected by India’s decision to restrict rice exports’

President of Foodstuff Traders Association (FTA), Khalil Haj Tawfiq, said India's decision to restrict its exports of some rice varieties...
  • India's decision will not affect availability of rice in Jordan's local market, neither hike its prices.
  • The decision of banning export of certain varieties of rice are not imported by Jordanian traders.
Science

World Green Economy Summit 2022 theme revealed

Dubai Electricity and Water Authority (DEWA) and the World Green Economy Organization (WGEO) announced that the theme of the 8th...
  • The theme reflects the UAE’s vision of advancing climate action and strengthening partnerships.
  • It also reflects international efforts to achieve climate goals.
Economy

Egypt hikes price of customs dollar to highest ever

Egypt has raised customs dollar to its highest level in history, a measure likely to inflate the price of imported...
  • The Egyptian Ministry of Finance raised the price of the customs dollar to 19.31 Egyptian pounds with immediate effect
  • In June, the Egyptian government released the customs dollar price, which was recorded at 18.64 pounds, at that time equal to the dollar price in banks
Geostrategy

Putin wants talks with Erdogan over Ukraine grain

The Kremlin said that President Vladimir Putin will discuss with Turkish President Recep Tayyip Erdogan a deal allowing grain exports...
  • The agreement between Russia and Ukraine, brokered by Turkey and the United Nations, designated three ports to send grains through a Russian blockade.
  • Putin claimed most consignments were arriving in Europe, not poor countries where grain was needed most.
Business

ADNOC to supply natural gas to Dubai for clean energy transition

ADNOC says domestically produced natural gas is more commercially competitive compared to imported coal or gas and it will support...
  • The natural gas will be used to generate electricity at Dubai Electricity and Water Authority (DEWA)’s Independent Power Producer Hassyan Power Complex.
  • The Complex was initially built to operate full-time at full load on both natural gas or clean coal but has been transformed to run only on natural gas.

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...

Company News

Latest News

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...
Business

Saudi Arabia’s Tabuk region produces over 28m roses annually

TABUK, SAUDI ARABIA - The Tabuk region's agricultural sector is making steady progress towards achieving the goals of Saudi Arabia's...
Business

El Nino forced sugar price to hit 13-year high in September, says FAO

Paris, France - Global sugar prices soared to their highest level in almost 13 years in September as the El Nino...
Economy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Business

Aramco’s Luberef resumes bitumen exports after 20 years

RIYADH, SAUDI ARABIA - King Fahad Industrial Port has successfully shipped 5,500 tons of bitumen to South Africa onboard bulk...
  • King Fahad Industrial Port has successfully shipped 5,500 tons of bitumen to South Africa making it the first cargo of oil byproduct from Yanbu-based hub.
  • This reflects Mawani’s step to position the ports sector as a vehicle to fulfil Vision 2030’s ambition of transforming the Kingdom into a logistics hub.
Geostrategy

Saudi Arabia to enhance air connectivity to over 250 destinations by 2030

RIO DE JANEIRO, BRAZIL - A delegation led by President of the General Authority of Civil Aviation (GACA) Abdulaziz bin...
  • The Kingdom plans on carrying 330 million passengers annually and raising freight capacity to 4.5 million tons by 2030.
  • Saudi Arabia and the Dominican Republic also signed agreements on air transport services between the two countries.
Business

Luxembourg, EU’s richest country, grapples with housing crisis

Luxembourg, Luxembourg -- Luxembourg's residents may be classified as the wealthiest in the European Union, but the sky-high cost of buying...
  • In the capital city, new-build flats sell for around $1,300 per square foot and older ones go for 10,700 euros. The average cost of a house is 1.5 million.
  • Housing crisis has become the number one concern in the Grand Duchy of 660,000 people -- smaller than Rhode Island, the smallest US state -- as it goes to the polls on Sunday.