INSEAD Day 4 - 728x90

Economy

EasyLease H1 profit $12.2m

Revenue rises on stronger operations.

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.

Pre-tax net profit of Dubai Financial Market rises 74% to $53m in H1 2024

Dubai, Saudi Arabia - Dubai Financial Market (DFM) today announced its consolidated financial results for the period ended June 30,...

Economy

US Department of State issues favorable 2024 Bahrain Investment Climate Statement

The investment climate in the Kingdom of Bahrain is positive and relatively stable. Bahrain maintains a business-friendly environment and a...

Economy
Economy

Qatar’s central bank’s foreign currency reserves hit $58bn in July

Qatar Central Bank’s (QCB) foreign currency reserves and liquidity increased 2.79 percent to reach QR 211.32 billion ($58bn) in July...
  • The rise in reserves driven by an increase in the central balances of bonds and foreign treasury bills.
  • The reserves consist of four categories: foreign securities, balances with foreign banks, gold, and Special Drawing Rights (SDR).
Economy

Total assets of UAE national banks at $816b in Jan to May 2022

Total assets of the 22 national banks rose to US$816.8 billion (AED 3.023 trillion) in the first five months of...
  • Total assets of the 22 national banks rose to US$816.8b (AED 3.023 trillion) in the first five months of 2022, up four percent
  • Assets of national banks accounted for 87.8 percent of gross banking sector's assets of US$937 billion (AED 3.442 trillion)
Geostrategy

Syria more than doubles petrol prices, says commerce ministry

Syria's internal commerce ministry has announced a petrol price hike of around 130 percent in the war-torn country facing fuel...
  • The cost of a liter of subsidized fuel will rise to US$0.99 (2,500 Syrian pounds), from US$0.43 (1,100 Syrian pounds)
  • The cost of non-subsidized petrol will rise from US$1.39 (3,500 Syrian pounds) to US$1.59 (4,000 Syrian pounds), the ministry said.
Videos

UAE ahead of US, UK as millionaire destination

The Ukraine conflict has triggered the biggest immigration of high-net-worth Russians, many of whom are likely to move to the...
  • Destinations such as Australia, Singapore, Israel, Switzerland, the United States, Portugal, Greece, Canada and New Zealand are behind UAE as preferred millionaire destinations.
  • Henley Global Citizens Report estimates that 15,000 High Net Worth Individuals could leave Russia by the end of this year.
Economy

Amman Chamber members’ exports rise by 57 percent in 7 months

Exports by member firms of the Amman Chamber of Industry (ACI) increased by 57 percent during the past seven months,...
  • Media reports said exports spiked to JD4.159 billion ($5.86 billion) during the past seven months of the year, compared to JD2.656 billion in the same period of 2021.
  • Jordanian industries can access more than 142 markets around the world through the export of 1,400 commodities.
Videos

Ways of digital banking in Middle East

The establishment of over 40 financial free zones in the UAE has encouraged innovation in digital banking. The fintech market...
  • Banking that is done through the digital platform without any paperwork is referred to as digital banking.
  • Increased efficiency, cost reduction and increased accuracy are some of the advantages of digital banking.
Business

Arrival of first ship in Lebanon with Ukraine grain put off

The Sierra Leone-flagged Razoni was cleared for passage through the Bosphorus Strait by a team that included Russian and Ukrainian...
  • An official following the shipment said the vessel might not even dock in Lebanon if the cargo's owner manages to sell it elsewhere
  • The Sierra Leone-flagged Razoni set sail from the Ukrainian port of Odessa last Monday carrying 26,000 tons of corn, and stopped in Turkey the next day
Market Report

GCC stocks rise amidst US-China tension

The performance of the Gulf stock exchanges varied this week, affected by several factors and events, most notably the tension...
  • The performance of the Gulf stock exchanges varied this week affected by several factors and events
  • The visit of US House Speaker Nancy Pelosi to Taiwan and the tension between the United States and China affected the stock market
Business

Dubai Chambers gets new CEO and President

Dubai Chambers has announced a leadership change, with Hamad Buamim, President and CEO, moving on after 16 years of service....
  • He replaced Hamad Buamim, who was the President and CEO of Dubai Chambers for past 16 years.
  • Under Buamim, the membership of Dubai Chambers by over four times from 80,000 to over 320,000.
Geostrategy

Turkey to pay for some Russian gas in rubles, says Erdogan

President Recep Tayyip Erdogan has confirmed that Turkey will start paying for some of its Russian natural gas imports in...
  • Neither Erdogan nor Russian officials have said what portion of the gas will be covered by ruble payments
  • Russia accounted for about a quarter of Turkey's oil imports and 45 percent of its natural gas last year

Pre-tax net profit of Dubai Financial Market rises 74% to $53m in H1 2024

Dubai, Saudi Arabia - Dubai Financial Market (DFM) today announced its consolidated financial results for the period ended June 30,...
Economy

Company News

Latest News

ADX inks pact with Expo Center Sharjah to boost financial services

Abu Dhabi, UAE - The Abu Dhabi Securities Exchange (ADX) signed an agreement with the Expo Center Sharjah to enhance...
Business

Central Bank of Bahrain treasury bills oversubscribed by 149 percent

MANAMA, BAHRAIN - This week’s BD 70 million (US$186 issue of Government Treasury Bills has been oversubscribed by 149 percent....
Business

Arab countries account for 60 percent of global Islamic financial industry, says AMF

ABU DHABI, UAE –  Director-General and Chairman of the Board of Directors of the Arab Monetary Fund Dr Abdul Rahman...
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

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...
  • A consortium comprising Orascom Construction and Metito (the Consortium) will construct a centralized world-class seawater treatment facility.
  • ADNOC and TAQA own a joint 51 percent majority stake (25.5 percent each), the Consortium owning the remaining 49 percent stake in the project company.
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...
  • The company collapsed more than 25 percent by the break, underscoring market concerns as China's property sector faces an unprecedented crisis
  • On Sunday evening, Evergrande announced that it was unable to issue new debt as its subsidiary, Hengda Real Estate Group, "is being investigated"
Economy

Germany’s housing sector slumps into crisis

Scholz's government had promised to build 400,000 homes a year to alleviate an endemic housing shortage made worse by burgeoning...
  • Experts believe the sector will struggle to even hit 250,000 in new build approvals this year
  • Housing Minister Klara Geywitz recently announced plans to offer aid to help families get on the property ladder