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

Asia shares edge up and dollar down; oil gains

Asian shares crept cautiously higher on Monday, while the dollar and bond yields were on the wane ahead of inflation...

China youth unemployment jumps to 17.1% in July

Beijing, China - Youth unemployment in China ticked up to 17.1 percent in July, official figures showed, the highest level this...

Economy
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.
Economy

ENEC hosts top performing students from Al Dhafra region

The Emirates Nuclear Energy Corporation (ENEC) has hosted a recognition ceremony at the Barakah plant for top-performing students from the...
  • The hosting of students reflects ENEC's stand to provide UAE youth with skills to become future leaders of the nation's growing nuclear energy sector.
  • The event include an educational tour for students to visit Barakah Plant, the first multi-unit operational nuclear plant in the Arab World.
Economy

Asian markets rise with eyes on China, Fed speech

Central bankers are meeting in Jackson Hole in the US state of Wyoming, and all eyes are on Federal Reserve...
  • Asian traders on Thursday followed a positive lead from Wall Street, where the Dow, Nasdaq and S&P 500 all closed higher
  • Central banks around the world are trying to find a delicate balance between curbing inflation and avoiding recessions
Business

Assets of UAE national firms climbs 10% to $116bn in H1

A total of 74 listed companies listed in the Abu Dhabi Securities Exchange (ADX) accounted for 59.8 percent of total...
  • According to the disclosures made by 118 listed companies, their assets increased to $1.289 trillion at the end of June
  • The banking sector was the leading contributor, with 17 banks accounting for 69 percent of total assets, valued at $891 billion at the end of June 2022
Geostrategy

Jordan’s power supply to West Bank doubles after Jordan Valley plant’s upgrade

Jordan's Prime Minister emphasized that the project reflects Jordanian commitment to assist in laying the foundation for an independent Palestinian...
  • Jordan's Prime Minister emphasized that the project reflects Jordanian commitment to assist in laying the foundation for an independent Palestinian state
  • He added that Jordan is doing everything possible to safeguard the historical and legal status of Al-Aqsa Mosque and Al-Haram Al-Sharif
Business

Kuwait raises oil production to meet growing demand

The increased production is consistent with announcements made by Kuwait Petroleum Corporation.
  • The increased production is consistent with announcements made by Kuwait Petroleum Corporation
  • Kuwaiti oil minister Dr Al Faris said that Kuwait will continue to support efforts to promote market stability
Economy

Saudi Arabia’s merchandise exports in June up 75 percent: GASTAT

Saudi Arabia’s merchandise exports during June 2022 increased by more than 75 percent to 148 billion riyals ($39.37 billion) compared...
  • The non-oil exports (including re-exports) rose by 26.8 percent to 30 billion riyals in June 2022, compared to 24 billion riyals in June 2021.
  • The kingdom’s merchandise imports during June 2022 amounted to 60 billion riyals, compared to 47 billion riyals during June 2021, an increase of 28.9 percent.
Economy

In blazing heat water taps run dry in southern Iraq

More than 3,300 families across 10 provinces in Iraq's center and south were displaced due to "climate factors" as of...
  • Authorities blame drought for the current water shortages, but also dams built upstream on some rivers and tributaries in neighboring Turkey and Iran
  • A report published this month by the International Organization for Migration in Iraq said that "climate migration is already a reality" in the country
Economy

China warns of ‘severe’ threat to harvest from worst heatwave on record

The world's second-largest economy has been hit by record temperatures, flash floods and droughts this summer -- phenomena that scientists...
  • More than 1,500 people in the area surrounding Chongqing were evacuated on Monday after hot and dry conditions sparked multiple wildfires
  • The national meteorological service renewed its warnings for drought and high temperatures on Tuesday
Economy

UAE stocks generate strong cash flows Tuesday

FAB gained AED173.7 million in liquidity, closing at AED19.740, while ALPHADABI drew AED102.9 million, ending at AED24.040.
  • FAB gained AED173.7 million in liquidity, closing at AED19.740, while ALPHADABI drew AED102.9 million, ending at AED24.040
  • The ADX-listed ADNOC Distribution was among big gainers, ending 1.09 percent higher at AED4.620, followed by ADNOC Drilling which closed 0.28 percent up at AED3.620

Asia shares edge up and dollar down; oil gains

Asian shares crept cautiously higher on Monday, while the dollar and bond yields were on the wane ahead of inflation...

Company News

Latest News

Saudi Arabia’s consumer spending up 8% to reach $30bn in Aug

Riyadh, Saudi Arabia -- Consumer spending in Saudi Arabia grew 8 percent to SAR 115.4 billion ($30.76 billion) in August 2023, from...
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...
Business

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...
Economy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Business

Old Doha Port signs many agreements during Monaco Yacht Show

Monaco, Monaco--The Old Doha Port has signed several agreements with professional global companies, specialized in yacht during its participation in...
  • The executive director of the Old Doha Port said the objective of the participation in the show was to put the port on the global map
  • The port officials showcased a model to streamline visiting yachts through a mechanism of entry and exit from Qatar
Economy

Aerial taxis to help Dubai fly high in air mobility

"The challenges in air mobility are posed by weather conditions. Leveraging data and insights from past experiences, strategies have been...
  • Air mobility relies on advanced technologies, grounded in systematic plans that have undergone extensive scientific testing, says Duncan Walker, CEO of Skyports
  • A notable project on the horizon is the Aerial Taxi, slated to begin operations in 2026. This innovative venture will cover a maximum distance of 241 km, he adds
Economy

Saudi Arabia projects 2024 budget deficit at 1.9% of GDP

The kingdom's finance ministry estimated expenditures for 2024 to be at US$333.5 billion. According to the ministry, the projection is...
  • The kingdom's finance minister said that the government will continue implementing fiscal and economic structural reforms
  • The minister also noted the important role of the PIF and development funds that enhance the growth of non-oil GDP