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.

UAE ranks among the world’s most competitive economies in 2024, says Switzerland’s IMD ranking

The country has risen to the 7th spot in the IMD World Competitiveness Ranking, highlighting its robust economic growth, strategic...

Economy

Egypt hikes subsidized bread price for first time in decades

Cairo, Egypt - Egypt's cabinet decided Wednesday to raise the price of subsidized bread for the first time in 30 years,...

Economy
Economy

FIFA officially advances World Cup by a day for Qatar

Football's top officials universally approved the decision, FIFA said in a statement while Qatar said it would give unspecified help...
  • Under the new plan, the Group A game between Senegal and the Netherlands has been shifted from 1:00pm (1000 GMT) on November 21 to a 7:00pm start
  • Official countdown clocks for the event were quickly changed. and the 100 day countdown to the opening match will now start on Friday, instead of Saturday
Economy

Worst drought in 4 decades parches Morocco’s farmland

No longer having access to potable running water, the villagers of Ouled Essi Masseoud rely solely on sporadic supplies in...
  • Nationally, dams are filling at a rate of only 27 percent, precipitated by the country's worst drought in at least four decades
  • Al Massira reservoir has been reduced to little more than a pond bordered by kilometres of cracked earth
Economy

Iraq to provide Lebanon with fuel for another year: PM Mikati

Iraq has agreed to renew a one-year deal to provide Lebanon with fuel for its power plants in exchange for...
  • For the past year, Lebanon's power plants have depended on the deal with Iraq to produce one to two hours of electricity per day.
  • Residents in the poverty-stricken country largely rely on expensive private generators for power the rest of the time.
Economy

Ma’aden H1 net profit at $1.6bn

H1 2022 net profit increased by 232 percent
  • H1 2022 EBITDA increased by 128 percent, compared with the same period in the prior year, to $ 3billion.
  • Q2 2022 EBITDA increased to $1.8 billion reflecting robust sales performance.
Economy

Oil demand up as surging gas prices force countries to switch fuels: IEA

Global oil demand will rise more than previously forecast this year as heatwaves and soaring gas prices are prompting countries...
  • Oil prices have dropped by $30 per barrel from a peak in June due to growing supplies and "escalating concerns over the deteriorating economic outlook, IEA said.
  • Prices of natural gas and electricity have jumped to new records, prompting some countries to switch to oil use.
Economy

MoCCAE discusses food security with feed manufacturers in UAE

UAE's Ministry of Climate Change and Environment (MoCCAE) hosted a meeting with licensed feed manufacturers in the country to explore...
  • UAE's Ministry of Climate Change and Environment hosts a meeting with licensed feed manufacturers to talk of enhanced food production
  • Participants highlight the importance of modern technologies in feed production and to adhere to the highest safety standards
Economy

Global youth unemployment set to slip to 73 million in 2022: UN

The figure is still six million higher than the pre-pandemic level of 2019, with the recovery in youth unemployment lagging...
  • Many dropped out of the labor force, or failed to enter it altogether, due to the difficulty of finding a job during Covid-19 lockdowns.
  • The Arab states have the highest and fastest-growing unemployment rate of young people worldwide at 24.8 percent, 42.5 percent for young women.
Economy

CBUAE’s Financial Stability Report lists steps taken to help economy

The Central Bank of the United Arab Emirates has issued its Financial Stability Report for 2021, which outlines the measures...
  • Among the steps were CBUAE's gradual exit strategy from the Targeted Economic Support Scheme as the UAE economic recovery commenced
  • The CBUAE also conducted risk-based supervision and solvency and liquidity stress tests to assess potential vulnerabilities.
Business

DEWA H1 2022 revenue is $3.3bn

DEWA's net profit in H1 2022 is US$898 million
  • In H1 2022, DEWA's revenue is US$3.3 billion (AED12.08 billion), and net profit is US$898 million (AED3.30 billion).
  • DEWA's first half revenue increase of 15 percent to $3.3 b (AED12.08 b) was mainly driven by an increase in demand.
Economy

Economists appeal to US to return Afghanistan’s frozen assets

The economists said that the plunge in economic activity and the sharp cuts to foreign aid by previous supporters of...
  • 71 economists and development experts including Nobel economics prize winner Joseph Stiglitz and Yanis Varoufakis urged US to release Afghanistan's frozen assets
  • They said a recent US offer to give the Taliban access to half the money by setting up a trust with international oversight was not enough

UAE ranks among the world’s most competitive economies in 2024, says Switzerland’s IMD ranking

The country has risen to the 7th spot in the IMD World Competitiveness Ranking, highlighting its robust economic growth, strategic...
Economy

Company News

Latest News

Qatar launches ‘Istamer’ platform to employ retirees in private sector

DOHA, QATAR -  The Ministry of Labor (MoL) launched the "Istamer" digital platform, which deals with employing Qatari retirees wishing...
Business

ADNOC, TAQA complete financial closing on sustainable water supply project

ABU DHABI, UAE - ADNOC and Abu Dhabi National Energy Company (TAQA) have completed the financial closing of their $2.2...
Business

Evergrande shares sink after restructuring plan scrapped

Evergrande's enormous debt has contributed to the country's deepening property market crisis, raising fears of a global spillover. The property...
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Economy

Foreign direct investment crucial for economic growth

At this year's technology summit in the United States, which spotlights economic diversification through the strategic use of energy-generated wealth,...
  • Qatar's Ahmad bin Mohammed Al Sayed underscores the pivotal role of foreign direct investment in economic diversification and job creation
  • The summit gathers global leaders to address key challenges in economic diversification and the impact of technology on rural populations
Economy

UAE and Japan hold discussions to boost economic, strategic ties

Tokyo, Japan-- The UAE and Japan have held discussions to boost partnership in various sectors of the economy even as...
  • Al Jaber chaired the first ministerial meeting of the comprehensive strategic partnership between the two countries in Tokyo
  • He met with the Japan's minister of economy to explore avenues for bilateral relations, including the latest developments in trade and investment
Science

NASA capsule brings to Earth first major asteroid sample

Dugway, United States-- A seven-year space voyage came to its climactic end Sunday when a NASA capsule landed in the desert...
  • The sample, according to scientists, will provide a better understanding of the formation of our solar system and how Earth became habitable
  • NASA scientist Amy Simon said the sample return is "really historic" and it is the biggest sample NASA has brought back since the Apollo moon rocks