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.

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

Record high Gold prices amidst expected September FED rate cut

Gold prices continued to notch new records Wednesday, lifted by increasing conviction that the Federal Reserve will cut interest rates...

Economy
Economy

Jordan approves Public Sector Modernization roadmap

Addressing the Cabinet session, Prime Minister Dr Khasawneh affirmed the government's commitment to achieving the desired outcomes from the modernization...
  • Addressing the Cabinet session, Prime Minister Dr Khasawneh affirmed the government's commitment to achieving the desired outcomes from the modernization roadmap
  • The PM also stressed that the roadmap is "vigorous, flexible and capable" of realizing modernization and development, and is open to any positive improvements
Geostrategy

Iran urges IAEA to end undeclared nuclear sites issue

The United States remains adamant that Tehran cooperate with the International Atomic Energy Agency to clear up suspicions about earlier...
  • Iran came back last week with a series of proposed changes, to which the United States formally responded on Wednesday, a day after Tehran accused its arch-enemy of stonewalling
  • The 2015 agreement between Iran and six world powers Britain, China, France, Germany, Russia and the United States gave the Islamic republic sanctions relief in exchange for curbs
Economy

Egypt’s GDP grows 6.6% in FY 2022: PM Madbouli

The last quarter of the past fiscal year was really difficult due to the Russia-Ukraine war.
  • The last quarter of the past fiscal year was really difficult due to the Russia-Ukraine war
  • The PM said that the unemployment rate in the country stabilised at 7.2 percent
Economy

In risky recyling venture, Gazans burn plastic for fuel

It's an economic and practical solution in a territory blockaded by Israel for 15 years, but one which poses serious...
  • Burning plastic releases dioxins, mercury and other toxic gases which pose a threat to vegetation, human and animal health
  • Since 2007, when Hamas seized control of the Gaza Strip, Israel has severely restricted the flow of people and goods in and out of the coastal enclave
Business

Maaden to supply phosphate, ammonia to four Indian firms

The Saudi Arabian Mining Company, Maaden, Thursday signed four memoranda of understanding with Indian fertilizer companies to supply phosphate and...
  • The company signed MoUs with top Indian companies, under which they will discuss ways to enhance joint cooperation in various fields of growth,
  • Ma'aden today exports about 1.7 million tons of phosphate and ammonia products to the Indian market annually.
Geostrategy

Jordan, GCC countries discuss higher education cooperation

Joint Jordan-Gulf Cooperation Council (GCC) working group on the higher education held talks on cooperation and exchange of expertise at...
  • The meeting decided that the Jordanian side would draft executive programs and memoranda of understanding (MoU).
  • The programs would prioritize areas of academic, student, research collaboration and expertise exchange.
Business

Saudi to provide multiple entry visas for tourists during world cup

The move comes as Qatar, which has a population of 2.8 million, tries to accommodate an expected 1.2 million visitors...
  • People with a Hayya Card, reserved for ticket-holders and used to access Qatar during the tournament, will be able to apply for the electronic visas.
  • The Gulf power shares a land border with gas-rich Qatar, which is hosting the first World Cup in the Middle East and the first held in winter months.
Economy

German economy grows slightly in Q2, recession fears recede

Germany's economy grew slightly in the second quarter, an upgrade from a previous estimate of stagnation, revised official data showed...
  • Output expanded by 0.1 percent in the April to June period, as per the federal statistics agency, which had previously projected zero growth.
  • Private spending rose 0.8 percent from the previous quarter as the end of Covid-19 restrictions brought more tourism and restaurant dining.
Business

Abu Dhabi to launch blockchain, virtual assets strategy

The Abu Dhabi Blockchain and Virtual Assets Committee (ADBVAC) held its first meeting under the chairmanship of Mohamed Ali Al...
  • The Abu Dhabi Blockchain and Virtual Assets Committee has been formed to look into various aspects of the field
  • The committee comprises representatives of major entities and stakeholders active in this field
Economy

European gas prices approach record peak on Russian supply fears

Europe's benchmark Dutch TTF gas contract advanced to 318 euros per megawatt hour before paring gains. That was not far...
  • Prices have spiked in recent days as a three-day halt in Russian deliveries to Germany via the Nord Stream 1 pipeline approaches.
  • One-year forward contracts for electricity prices in both France and Germany surged on Thursday to record pinnacles on worries over a winter energy crunch.

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

Company News

Latest News

The many ways US government shutdown affects people

WASHINGTON, US - The United States is heading toward a government shutdown this weekend with no foreseeable way out of a...
Geostrategy

Haj 2024: Saudi Arabia to increase licensed companies for overseas pilgrims

Riyadh, Saudi Arabia - Saudi Arabia has unveiled plans to expand the number of licensed companies authorized to offer services...

Saudi Fund for Development and Seychelles sign US$25m loan agreements

Riyadh, Saudi Arabia-- The Saudi Fund for Development (SFD) has signed two loan agreements with Seychelles to support the social...
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Geostrategy

DIB to buy stake in TOM Group

DIB felt Turkey is a great investment destination.
  • DIB will acquire 20 percent shareholding across T.O.M. Group with an option to increase shareholding to 25 percent within 12 months.
  • DIB has long held the view that Turkey was an attractive investment destination for a financial services institution.
Geostrategy

US to auction three new oil and gas leases in the Gulf of Mexico

WASHINGTON, US - President Joe Biden's administration on Friday announced it would auction three new oil and gas leases in the...
  • The move triggered a furious reaction from environmental groups who said the move would accelerate climate change.
  • The action was denounced by advocates of the fossil fuel industry as it reduced the number of lease sales planned by previous US administration.
Business

Europe should move faster on energy transition, say IEA, ECB

PARIS, FRANCE - Europe must invest more quickly and massively in its energy transition if it wants to remain a global...
  • Europe must invest more quickly in its energy transition if it wants to remain a global industrial power, top policymakers said.
  • Private sector investment faces barriers including policy uncertainty, bureaucratic red tape and higher energy costs, they said.