INSEAD Day 4 - 728x90

Economy

FAB profit edges higher

Income growth supports steady earnings.

UAB H1 profit climbs

Income, lending drive first-half growth

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

Saudi surpasses Vision 2030 tourism target, says IMF report

Tourism is a major contributor to the Kingdom's economic diversification efforts, the IMF notes in its 2024 Article IV Consultation...

Business

Saudi Business Council established to strengthen Eastern European partnerships

The council aims to align its focus with Saudi Arabia’s Vision 2030 and the economic agendas of Eastern European countries,...

Economy
Geostrategy

Jordan PM refers to shared views in meeting with Kuwaiti minister

Prime Minister of Jordan Dr. Bisher Khasawneh met Kuwaiti Minister of Information and Culture Abdul Rahman Al-Mutairi, who is in...
  • The Jordanian PM reiterated to the Kuwaiti minister the two countries’ shared views on Arab, regional and international issues.
  • The Kuwaiti Minister is in Jordan to attend the 21st Amman International Book Fair.
Science

DEWA’s R&D Center registers patent for robotic carrier

Dubai Electricity and Water Authority (DEWA) 's Research and Development (R&D) Center has registered its sixth patent for a user-friendly...
  • DEWA's robotic carrier can transport glass panels or sensitive materials that require close care.
  • The robotic carrier can lift solar photovoltaic panels easily from any surface.
Economy

Slowdown or not? US job market walking a tight rope

According to consensus, the unemployment rate for August should fall somewhere around 3.5 percent when official data is released at...
  • American employers ratcheted back their hiring in August to 132,000, according to data published Wednesday by payroll firm ADP
  • Economic slowdown, fears of recession, or Fed action to curb soaring inflation have not deflated the hot job market
Economy

Saudi Arabia eases visa rules for GCC, US, UK, EU residents

The regulations came into effect after the minister of tourism Ahmed Al-Khateeb signed on a ministerial decree, making it easier...
  • The regulations came into effect after the minister of tourism Ahmed Al-Khateeb signed on a ministerial decree, making it easier to visit the oil-rich kingdom
  • The ministerial decree removes the requirement of many would-be visitors to attend their country's embassy before entering Saudi Arabia
Business

Saudi economy pins hope on female entrepreneurs

Saudi women, who had begun with small projects, are now creating startups and setting up factories, highlighting drastic change in...
  • Saudi women have achieved exceptional success through entrepreneurship, particularly with the change in the business environment.
  • The goals of Vision 2030 are not limited to increasing entrepreneurship but also increasing women's participation in economic fields.
Business

Markets volatile, world economy likely to grow 3.2% in 2022

As the world economy struggles to recover from the after-effects of the pandemic, financial markets are more volatile than ever.
  • Global investors need to factor in how demand and supply chains will impact trade around the world
  • The ongoing stop-and-start recovery from COVID has also disrupted global supply chains, leading to more instability in economies all around the globe
Business

Saudi Central Bank updates its Regulatory Sandbox Framework

The bank took this step to promote the Regulatory Sandbox's involvement in the Financial Sector Development Program (FSDP), one of...
  • The bank took this step to promote the Regulatory Sandbox's involvement in the Financial Sector Development Program (FSDP), one of the key objectives of the Saudi Vision 2030
  • The Central Bank pointed out that the updated framework of the Regulatory Sandbox is open for both local and international applicants

CBUAE says gross banks’ assets vault to $939bn in June

The growth in total bank deposits was due to the rise in resident deposits by 2.6% and non-resident deposits by...
  • The apex bank said that gross credit grew from $507.93 billion in May 2022 to $508.12 billion in June 2022
  • Total bank deposits increased by 2.5%, climbing from $555.61 billion in May 2022 to $569.61 billion in June 2022
Economy

Qatar to build world’s biggest blue ammonia plant

Energy Minister Saad al-Kaabi said the plant would cost $1.2 billion and start production in early 2026. State-owned Qatar Energy,...
  • The foul-smelling chemical is being touted by gas-producing nations such as Qatar as an alternative to hydrogen
  • Japan is already looking into using ammonia to power former coal fired electricity generators
Business

UAE’s 10 largest banks reap second quarter windfall

Banks in the UAE held a 22.4 percent market share of the assets in the Arab banking sector, followed by...
  • The A&M research investigates size, liquidity, income, operating efficiency, risk, profitability, and capital of financial institutions.
  • A 19.5 percent rise in total interest income saw the banks post a net income growth of 24.4 percent.

Saudi surpasses Vision 2030 tourism target, says IMF report

Tourism is a major contributor to the Kingdom's economic diversification efforts, the IMF notes in its 2024 Article IV Consultation...
Business

Company News

Latest News

Geopolitical changes derailed shift towards green energy, says IMF

Washington, US - Growing geopolitical fragmentation since the invasion of Ukraine has hit commodity markets, threatening to slow the transition to...
Business

Markets slump as US jobs data says labor market buoyant

The focus has been on US Treasury bond yields that have surged to levels not seen in over a decade,...
Market Report

ADNOC, Fertiglobe to pilot cost-effective modular carbon capture technology

ABU DHABI, UAE – ADNOC and Fertiglobe on Tuesday announced the pilot deployment of the world’s first cost-effective modular CycloneCC...
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Economy

Yemen economy tanks as peace talks make no headway, say NGOs

"While economic challenges are rife across the country, rising inflation and the deterioration of public services are making life unbearable,"...
  • Power cuts in Aden can last 17 hours a day and more than 50 percent of households in government-held areas cannot meet basic food requirements.
  • The World Food Program warned in August that more than four million Yemenis would receive less food assistance from the end of September.
Geostrategy

Qatar begins construction on North Field gas expansion

RAS LAFFAN, QATAR - Qatar's state-owned energy giant began construction on Tuesday on a project to expand production from the world's...
  • There has been mounting demand for Qatari gas as European consumer nations have scrambled to replace lost Russian deliveries.
  • Qatari Energy Minister Saad al-Kaabi called the project a "leap towards our country's leadership in the field of energy".
Business

Najm inks pact with iot squared

The aim is to advance insurance services in the Kingdom.
  • iot squared is a joint entity between the Public Investment Fund (PIF) and STC Group and it provides leading IOT solutions in the logistics service field.
  • Najm for Insurance Services was set up in 2007 due to cooperation between insurance firms, Saudi Central Bank and the General Department of Traffic.