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.

Top Middle East sovereign wealth funds invested $38.2 billion in 58 deals

Investments in H1 2024 led by the top Middle East sovereign wealth funds reached$38.2 billion in 58 different deals, according...

Economy

UAE, Qatar Central banks keep interest rates unchanged towing the line with US Fed

The Central Bank of the UAE (CBUAE) and Qatar Central Bank (QCB) have decided to keep interest rates unchanged, following...

Economy
Economy

Saudi agriculture sector grows 7.8% to value at $19.23bn

The agriculture output in 2017 was estimated at $17.41 billion, around $17.48 billion in 2018, and $17.65 billion in 2019,...
  • The positive growth in the sector has been attributed to the strategies implemented by the kingdom's government corresponding with Vision 2030
  • The sector’s contribution to the gross domestic product in general amounted to 2.3 percent last year, while the contribution of agricultural output to non-oil GDP was 3.6 percent
Economy

Bahrain posts a budget surplus of $88m for first half of 2022

Bahrain has posted a budget surplus of $88 million in the first half of 2022, from a deficit of $1.38...
  • Actual revenues collected increased by 52 percent compared to the same period in 2021.The kingdom had reported a deficit of $1.38 billion a year earlier.
  • Actual expenses amounted to $4.4 billion, an increase at a rate of only 2 percent compared to the same period in 2021.
Economy

Saudi Arabia’s inflation surges to 2.7 percent in July: GASTAT

Saudi Arabia’s inflation rose to 2.7 percent in July 2022 compared to June, according to the General Authority for Statistics...
  • Cost-of-living index for July rose to 107.20 points, according to base year 2018, compared to 104.41 points in July.
  • The Increase in consumer price index (CPI) was driven by a 3.9 percent year-on-year rise in the food and beverage prices.
Economy

‘Jordan committed to combating terror financing’

Governor of the Central Bank of Jordan (CBJ) Adel Sharkas said that terror financing is a threat to national economies,...
  • Governor of the Central Bank of Jordan said that terror financing is a threat to national economies
  • The CBJ Governor said the Kingdom is committed to combating money laundering and terror financing
Economy

Jordan’s anti-corruption body launches National Integrity Index

The Jordan Integrity and Anti-Corruption Commission (JIACC) on Monday launched the National Integrity Index (NII), which aims to gauge public...
  • Jordan Integrity and Anti-Corruption Commission launches National Integrity Index to gauge public bodies adherence to anti-corruption standards
  • The NII aims to support the commission's efforts to combat corruption and foster an anti-corruption public culture
Economy

Museum, DEWA partner for sustainable development

The Museum of the Future has signed a strategic partnership agreement with Dubai Electricity and Water Authority (DEWA) to showcase...
  • The Museum of the Future with Dubai Electricity and Water Authority will showcase solutions for sustainability and renewable energy
  • The agreement between the two organizations aims for constructive research that helps solve today’s ecological challenges
Business

Bahrain central bank’s monthly Sukuk issue oversubscribed by 152%

The Central Bank of Bahrain (CBB) said Monday the monthly issue of the Sukuk Al-Salam has been oversubscribed by 152...
  • Subscriptions worth BD 65.445 million ($173.5) were received for the BD 43 million issue, which carries a maturity of 91 days.
  • The expected return on the issue, which begins on 17 August and matures on 16 November, is 3.80 percent compared to 3.96 percent of the previous issue on 13 July.
Business

DGCX licensed brokerage firms can now become DFM derivatives members

Dubai Financial Market (DFM) said Monday that it has obtained the approval of the Securities and Commodities Authority (SCA) to...
  • Securities and Commodities Authority approves DFM to allow such firms to become DFM derivative members and provide their services in the market for the first time.
  • Currently, there are approximately 21 DGCX brokers licensed by SCA and this significant step caters to the growing demand from these companies to access the DFM.
Economy

Saudi real estate fund signs 58,000 housing support contracts in H1

Saudi Arabia’s Real Estate Development Fund has signed more than 58,000 financing contracts for the kingdom’s various housing support programs...
  • One of the goals of kingdom's transformative Vision 2030 is to raise the percentage of house ownership to 70 percent,
  • The number of the beneficiaries of housing support programs from June 2017-June 2022 is more than 660,000.
Economy

Oil prices fall as Aramco signals plan to raise crude production

Oil prices slipped in Asian trade, with both main contracts down around two percent as the stuttering Chinese economic recovery...
  • Oil prices slipped in Asian trade, with both main contracts down around two percent as the stuttering Chinese economic recovery added to concerns about demand
  • Crude prices which had gained following Russia’s invasion of Ukraine have declined over the last couple of months on fears of a possible economic recession

Top Middle East sovereign wealth funds invested $38.2 billion in 58 deals

Investments in H1 2024 led by the top Middle East sovereign wealth funds reached$38.2 billion in 58 different deals, according...
Economy

Company News

Latest News

Dubai Government reduces public debt by US$7.8bn

DUBAI, UAE - The Public Debt Management Office (PDMO) of the Government of Dubai's Department of Finance (DOF) announced a...
Economy

China grants Approved Destination Status to Saudi Arabia

RIYADH, SAUDI ARABIA – China on Tuesday granted Approved Destination Status (ADS) to the Gulf Kingdom. The bilateral agreement, signed...
Geostrategy

Non-oil sector to drive UAE economic growth to 3% in 2023: S&P

S&P analysts anticipate continued growth within the UAE's robust tourism sector. The country's ability to host major international events is...
Economy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Business

Rising demand for critical metals pose dilemmas for investors

PARIS, FRANCE - Soaring demand for the raw materials needed for the transition towards renewable energy is creating dilemmas for investors...
  • Demand for lithium, an essential component of car batteries, could increase ninefold between 2022 and 2050, said the International Energy Agency.
  • Lithium and other metals that the IEA calls “key to the clean energy transition” will be the topic of a summit hosted by the global energy watchdog in Paris.
Economy

Saudi Arabia draws 135m visitors for entertainment events by mid-2023

Riyadh, Saudi Arabia - Saudi Arabia has attracted 135 million visitors to events hosted in 120 cities up to the...
  • The GEA has been instrumental in transforming Saudi Arabia's entertainment landscape, issuing more than 14,000 licenses
  • Saudi Arabia's flourishing entertainment scene is part of its ambition to become a global hub for culture and leisure
Business

Iran’s exports of agriculture products climb up 10% to US$1.62bn

Tehran, Iran-- Iran's exports of agricultural products to the outside world shot up 10% in the first 5 months of...
  • The United Arab Emirates, Iraq and the Russian Federation were the major destinations for Iran's exported crops
  • During the first 5 months of 2023, a total of 2,169 million tons of agricultural products worth $1.62 billion were exported