INSEAD Day 4 - 728x90

Economy

2PointZero posts profit surge

Growth driven by merger consolidation.

Mashreq Q1 profit rises

Total revenue increased 10% year-on-year.

TECOM profit climbs

High occupancy across assets boosts earnings.

Emirates Stallions Q1 revenue up 11%

The rise helped by strong demand in real estate

ADNOC Distribution 2025 dividend $700m

The company had reported EBITDA of $1.17 bn in 2025.

Saudis reform Investment Law in bid to attract foreigners

Saudi Arabia announced new business regulations aimed at boosting transparency and easing the process of investing in the kingdom as...

GCC countries host nine million Indians, UAE alone home to 3.55 million

New Delhi, UAE - The number of Indians living in the Gulf Cooperation Council (GCC) countries has crossed nine million,...

Economy
Economy

Palestinian economy facing formidable challenges: IMF team

The fiscal situation, high political, security and social tensions, rising inflation, movement and access restrictions and an unfinished structural agenda...
  • The Palestinian Authority and Israel disagree on the amounts of revenue that the latter should transfer to the former, the statement said.
  • The IMF team said that overcoming these challenges will require ambitious reforms spanning several years of cooperation between PA, Israel and donors.
Economy

CBUAE imposes sanctions on ‘exchange house’ for violations

The Central Bank of the UAE (CBUAE) has imposed sanctions on the owner and general manager of an exchange house...
  • According to a CBUAE statement, the sanctions came as a result of the examination conducted by it, revealing that the exchange house had rented out its license
  • The CBUAE also prohibited the general manager from undertaking any designated function at any licensed financial institution in the country
Business

ADNOC awards $1.83 billion framework agreements for drilling-related services

The awards cover ADNOC’s onshore and offshore fields and will run for five years with an option for a further...
  • The awards cover ADNOC’s onshore and offshore fields and will run for five years with an option for a further two years
  • The framework agreement awards will support ADNOC’s requirement to drill thousands of new wells to expand its production capacity
Economy

Gazprom halts pipeline gas flow in new jitters for Europe

Gazprom said supplies via Nord Stream 1 were "completely stopped" for "preventative work" at a compressor unit, shortly after the...
  • Germany, which is heavily dependent on Russian gas, has accused Moscow of using energy as a "weapon."
  • But Gazprom has said the 3-day maintenance work was "necessary" and had to be carried out after "every 1,000 hours of operation."
Economy

China’s August factory activity weakens for second straight month

The Purchasing Managers' Index (PMI), a key gauge of manufacturing activity in the world's second-biggest economy, came in at 49.4...
  • Sporadic Covid-19 lockdowns around China have dampened consumer enthusiasm and business confidence
  • China's manufacturing Purchasing Managers' Index has been in contraction territory for five out of the past six months
Economy

Realty, banking blue chips continue to power UAE markets

Among other stocks, Emirates NBD, DEWA, and TECOM increased 0.74 percent, 0.77 percent and 1.25 percent respectively.
  • Among other stocks, Emirates NBD, DEWA, and TECOM increased 0.74 percent, 0.77 percent and 1.25 percent respectively
  • Driven by Emaar, Dubai General Index (DFMGI) advanced 0.79 percent to 3,463.5927.16 pts, with the property blue chip closing higher at AED4.80
Arts & Culture

Sharjah Chamber set to organise ‘Al Maleh and Fishing’ Festival

The Sharjah Chamber of Commerce and Industry (SCCI) has announced it will be organizing "Al Maleh and Fishing" Festival in...
  • The SCCI added that all preparations are in place, and the festival is scheduled to begin on September 8, 2022, in Dibba Al Hisn City.
  • The four-day event will involve the participation of several government entities and private sector companies.
Economy

Saudi bank loans to public and private sectors grow 14% by July end

Riyadh, Saudi Arabia - Saudi bank loans granted to public and private sectors grew 14 percent by the end of...
  • The total loan granted by Saudi banks amounted to SAR 2.324 trillion ($620bn) by July end.
  • Private-sector lending also increased by 14 percent year-on-year (YoY) to SAR 2.213 trillion ($590bn).
Business

Amazon Web Services unveils the AWS Middle East (UAE) region

Abu Dhabi, UAE - Amazon Web Services (AWS) announced Tuesday the launch of its second Region in the Middle East,...
  • AWS estimated its projected spending on the construction and operation of new Region will support an average of nearly 6,000 full-time jobs.
  • The AWS Middle East (UAE) Region will also add an estimated $11 billion over the next 15 years to the UAE’s gross domestic product (GDP).
Geostrategy

Moscow warns EU against restricting Russian tourists

The Kremlin on Tuesday warned it would respond if the European Union makes it harder for Russians to travel to...
  • The idea to ban Russian tourists from Europe has divided EU nations, with some in full support and some against it.
  • The European Union had already suspended visa facilitation for Russian official delegations and business leaders.

Saudis reform Investment Law in bid to attract foreigners

Saudi Arabia announced new business regulations aimed at boosting transparency and easing the process of investing in the kingdom as...

Company News

Latest News

Libya and Italy sign MoU to boost cooperation in civil aviation

Tripoli, Libya--Libya and Italy have signed an agreement to enhance cooperation to enable air transport companies to operate charter and...
Business

Saudi Arabia’s coffee production exceeds 800 tons annually

Riyadh, Saudi Arabia - Saudi Arabia is among the top 10 countries in the world in coffee consumption, leading the...
Economy

Saudi Arabia, Pakistan ink pact on digital transformation, innovation

RIYADH, SAUDI ARABIA - The Kingdom of Saudi Arabia signed a memorandum of understanding (MoU) with Pakistan here on Sunday...
Geostrategy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Business

ROSHN group opens sale for SEDRA phase 3 units in Riyadh

RIYADH, SAUDI ARABIA - ROSHN Group, one of the Public Investment Fund (PIF) subsidiaries, announced on Sunday the opening of...
  • SEDRA phase three will add 3,438 more houses to ROSHN’s first integrated development; 1,904 units are for sale in this initial sales tranche.
  • SEDRA 3 offers prospective residents eight options of floor plans and eleven facades, in single- or multi-family configurations,
Economy

Threats and violence as Turks feud over soaring rents

The government has capped property rent increases at 25 percent for households, and aligned them with the official inflation rate...
  • Rents in Turkey have soared by an average of 121 percent over the past year, according to a study published by Bahcesehir University in August
  • Inflation approached 60 percent in August, but independent t economists say consumer price increases actually reached at least 128 percent
Geostrategy

Congress passes bill, averting US government shutdown

Three hours before the deadline, the Senate voted to keep the lights on through mid-November with a resolution that had...
  • Tonight, bipartisan majorities in the House and Senate voted to keep the government open, US President Joe Biden said
  • Biden berated McCarthy and the House Republicans for reneging on spending levels agreed with the White House months ago