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.

Dubai’s GDP tops $31.3 bn in Q1 2024, growing 3.2%

The financial and insurance sector saw a 5.6% rise, reaching USD 4.1 billion (AED 15.1 billion), supported by significant growth...

Powell indicates Fed won’t wait until inflation is down to 2% before cutting rates

Federal Reserve Chair Jerome Powell said Monday that the central bank will not wait until inflation hits 2% to cut...

Economy
Economy

Two new solar projects to double Qatar’s renewable energy output

Qatar on Tuesday announced two major solar projects that will more than double its energy output from the renewable source...
  • The plants at Mesaieed and Ras Laffan will take Qatar's solar output to 1.67 gigawatts by the end of 2024, Qatar Energy said in a statement.
  • South Korean conglomerate Samsung will lead construction of the new solar plants, with an initial investment of more than $600 million.
Business

Aldar says it recirculated $2.39bn into UAE economy through ICV

Aldar Properties said Tuesday that it has recirculated AED8.8 billion ($2.39 billion) to the local economy through In-Country Value (ICV)...
  • The ICV aims to boost economic performance and support local industries by redirecting higher portions of public spending into the national economy.
  • In its sustainability report, Aldar said that Aldar Projects also signed development project contracts worth AED8.5 billion, including 16 contracts with UAE-based companies.
Business

Sharjah records 2,417 real estate transactions in July 2022

Sharjah Real Estate Registration Department (SRERD) has revealed that total transactions carried out in July 2022 amounted to 2,417 transactions...
  • The department's statistics reveal that Muwaileh Commercial area had the highest number of sales transactions in Sharjah,
  • SRERD monthly report showed that sales transactions were recorded at 24.3 percent
Business

EGA H1 2022 profit $1.61bn

Cast metal sales rose 11% compared to H1 2021.
  • EGA noted this is its best ever half yearly performance as the first half of 2022 exceeded the net profit of entire 2021.
  • EGA's adjusted Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) was $2.07billion in H1 2022.
Business

DEWA breaks own record for overhaul of gas turbines

Dubai Electricity and Water Authority (DEWA) has announced breaking its own world record in major inspection outage duration for the...
  • DEWA has reduced the maintenance outages for critical inspection operations from 11 days to nine days.
  • There is a reduction in the maintenance duration of 84 percent compared to 2006.
Economy

Iraqi Central Bank report shows financial recovery in past 10 years

A Central Bank of Iraq report showed that the unemployment rate rose to 16.5 percent in 2021, compared to 11.9...
  • A Central Bank of Iraq report showed that the unemployment rate rose to 16.5 percent in 2021, compared to 11.9 percent in 2012
  • As for imports, they decreased from $50 billion in 2012 to $34 billion in 2021, as well as exports which decreased from $94 billion in 2012 to $73 billion in 2021
Economy

Central Bank of Kuwait issues $792 million bonds

According to a CBK statement carried by state news agency KUNA, the new securities have a return rate of 2.625...
  • According to a CBK statement carried by state news agency KUNA, the new securities have a return rate of 2.625 percent
  • On August 8, the bank issued bonds and Tawarruq valued at US$ 526 million with a three-month term and return rate of 2.375 percent
Market Report

Stocks slide as traders mull Fed outlook, gas price spike

World stocks sank Monday and the dollar rallied on concern the Federal Reserve will stick to its interest rate-hiking plans...
  • The euro is under pressure after Russia's Gazprom said late Friday that the Nord Stream pipeline would be closed for maintenance.
  • Oil slumped on speculation over an Iran nuclear deal that could ease a supply crunch caused by producer Russia's invasion of Ukraine, as well as recession fears.
Economy

Oman producer prices increase by 40.7 percent in Q2

Producer prices in Oman increased by 40.7 percent during the second quarter of 2022 The producer price index in the...
  • The rise in the index was due to the 48.7 percent rise in oil and gas products and a 40.7 percent increase in non-oil products.
  • The price of non-oil products rose due to the increase in the prices of the manufacturing group by 9.4 percent, and the mining, electricity and water group by 1.8 percent.
Market Report

Foreign investors in Arab exchanges buy $119.6bn in 2021

The Arab Monetary Fund (AMF) said that the Abu Dhabi Securities Exchange (ADX) was ranked first in the Arab region...
  • ADX was ranked first in the Arab region in 2021, in terms of buy and sell transactions by foreign investors, says AMF
  • Buying transactions by foreign investors in ADX totaled $32.2 billion at the end of last year

Dubai’s GDP tops $31.3 bn in Q1 2024, growing 3.2%

The financial and insurance sector saw a 5.6% rise, reaching USD 4.1 billion (AED 15.1 billion), supported by significant growth...

Company News

Latest News

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...
Business

GCC, Pakistan ink preliminary free trade agreement

RIYADH, SAUDI ARABIA - Secretary-General of the Gulf Cooperation Council (GCC) Jasem Mohamed AlBudaiwi said that preliminary free trade agreement...
Geostrategy

Politicians fail to understand scientific facts of climate, says expert

PARIS, FRANCE - Wavering ambition by governments and a growing belief that science is politically subjective are great causes for concern...
Science
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

More than 2,500 migrants dead or missing in Mediterranean in 2023: UN

The land journey from sub-Saharan African countries, where many of the migrants hail from, to departure points on the Tunisian...
  • In total, some 186,000 people arrived by sea in southern Europe from January to September 24, landing in Italy, Greece, Spain, Cyprus and Malta
  • Between January and August of this year it is estimated that more than 102,000 refugees and migrants tried to cross the Mediterranean from Tunisia and 45,000 from Libya

Lebanese children ‘miss out’ on education as crisis takes toll

Lack of funding for the school system has precipitated repeated teachers' strikes and school closures, resulting in children being increasingly...
  • Public sector teachers earn the equivalent of $150 to $300 per month, while the education ministry has sounded the alarm over lack of funding
  • At least 15 percent of households have pulled their children out of schools, UNICEF found in a June report, up from 10 percent a year ago
Economy

Saudi Arabia eyes global EV role following Lucid’s plant setup

Riyadh, Saudi Arabia  -- Saudi Arabia aims to become a global player in manufacturing electric vehicles (EVs) and related products,...
  • “The EV industry is one of 12 strategic industrial sectors covered by the National Industrial Strategy to boost the growth of industry across the Kingdom,” the minister added
  • Lucid Group’s choice of Saudi Arabia as the headquarters of its plant in the Middle East reflects the importance of kingdom’s unique geographical location, he added