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.

Asian markets drop as Biden drops out of White House race

Asian markets fell Monday as Joe Biden's decision to drop out of the US presidential race fuelled fresh uncertainty, while...

Economy

Dollar droops before Powell testimony; euro weathers France uncertainty

 The U.S. dollar hung near a multi-week low versus major peers on Tuesday, still smarting from Friday's unexpectedly soft jobs...

Economy
Business

Suez Canal revenue hits a record $704 million

Canal Authority Chairman Osama Rabea said that the Canal reached its highest monthly transit rate of 2,103 ships, as well...
  • Canal Authority Chairman Osama Rabea said that the Canal reached its highest monthly transit rate of 2,103 ships, as well as monthly net tonnage of 125.1 million tonnes
  • Rabie attributed the big leap in the revenues to the rise in the number and tonnage of ships transiting the canal during 2021-2022
Geostrategy

OPEC+ to discuss its output strategy after Biden’s Saudi visit

After cutting production in 2020 in response to falling prices during the Covid pandemic, OPEC+ began to modestly raise production...
  • Craig Erlam, analyst at OANDA trading platform, said the OPEC+ meeting will show whether "President Biden has any influence in the cartel at all."
  • Biden made a controversial trip to Saudi Arabia in July in part to convince the kingdom to loosen the production taps to stabilise the market and curb rampant inflation
Economy

UAE central bank issues new guidance for politically exposed persons

The Central Bank of the UAE (CBUAE) has issued new guidance on Anti-Money Laundering and Combating the Financing of Terrorism...
  • The guidance will help Licensed Financial Institutions understand risks and effective implementation of anti-money laundering and terror financing guidelines.
  • The guidance requires LFI’s to demonstrate compliance with its requirements within one month.
Economy

UAE climate change ministry, EDB to finance agro ventures

UAE Ministry of Climate Change and Environment and Emirates Development Bank sign a Memorandum of Understanding to finance agricultural SMEs...
  • UAE Ministry of Climate Change and Environment and Emirates Development Bank ink pact to finance agricultural SMEs
  • This move will help to contribute to the UAE’s sustainable economic development and food security
Economy

UAE maintains reputation as top tourist destination

The UAE continues to maintain its regional and international leadership as a distinguished travel destination and a preferred country for...
  • The UAE has strengthened its position on the world tourism map, becoming a leading international tourism destination.
  • UAE is in the top 10 country in several international competitiveness indexes related to the tourism, travel and hotels sectors in 2021
Business

AD Ports, Hutchison to explore investments in GCC, Asia, Africa

Abu Dhabi Ports and Hutchison Ports have signed an MoU to identify joint investment and business opportunities related to feedering,...
  • They will partner to operate within Tanzania to enhance the capabilities and market competitiveness of port operations in the country, including Dar Es Salaam Port.
  • Potential areas of focus include improving servicing to several of Tanzania’s landlocked remote areas and neighboring countries.
Business

Uber posts Q2 loss of $2.6bn

Uber revenue more than doubled to $8.1 billion in Q2. Uber reported better-than-expected revenue in Q2, fueled by strong demand...
  • Uber reported better-than-expected revenue in Q2, fueled by strong demand for the San Francisco-based company's ride-hailing and food delivery services
  • Revenue more than doubled to $8.1 billion in the three months through June -- a 105 percent increase
Geostrategy

UAE minister discusses economic cooperation, trade with Mongolia

During the meeting, the minister emphasized the UAE's commitment to solidifying its economic and trade partnership with Mongolia to support...
  • Minister of Economy Abdullah bin Touq Al Marri held a meeting with Ambassador Extraordinary and Plenipotentiary of Mongolia to the UAE Odonbaatar Shijeekhuu
  • The meeting was held in Dubai with an aim to strengthen trade and economic cooperation between the UAE and Mongolia
Geostrategy

Iraq tensions soar as protesters rally against parliament occupation

Thousands of Iraqis took to the streets of Baghdad Monday in counter-protests as rival supporters of Shiite Muslim cleric Moqtada...
  • Sadr's supporters on Saturday breached the normally high-security Green Zone also home to government buildings and embassies
  • In multi-confessional and multi-ethnic Iraq, government formation has involved complex negotiations since a 2003 US-led invasion toppled dictator Saddam Hussein
Economy

A year on, Iran’s Raisi faces economy in trouble

Having pledged to help especially the poor, the ultraconservative cleric now faces runaway consumer prices that have sparked protests.
  • Having pledged to help especially the poor, the ultraconservative cleric now faces runaway consumer prices that have sparked protests
  • Raisi was elected in June last year in a ballot for which less than half of voters turned up, after his major rivals had been disqualified by electoral bodies

Asian markets drop as Biden drops out of White House race

Asian markets fell Monday as Joe Biden's decision to drop out of the US presidential race fuelled fresh uncertainty, while...
Economy

Company News

Latest News

GCC chief highlights importance of boosting ties with UK

New York, US--Secretary-General of the Gulf Cooperation Council (GCC), Jasem Mohamed Albudaiwi, has stressed the importance of strengthening ties with...
Geostrategy

Two weeks after calamity, Libya flood toll surpasses 3,800

Many of the dead are believed to have been swept out to sea, from where their bodies are still washing...
Geostrategy

China-Arab States Expo kicks off, highlighting deep trade ties

Yinchuan, China--The sixth China-Arab States Expo commenced today in Yinchuan, northwest China's Ningxia Hui Autonomous Region, marking yet another chapter...
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Economy

UAE and Indonesia pledge to enhance economic cooperation

Jakarta, Indonesia-- The UAE and Indonesia have discussed mechanisms to expand regional cooperation and opportunities for trade and investment cooperation...
  • Speaking at the UAE-Indonesia Business Forum, Al Mazrouei reaffirmed the UAE's commitment to developing relations between the two countries
  • The forum reviewed a number of economic and investment issues of common interest in the fields of energy, mining, tourism, real estate, and aviation

Urban developments transform Saudi realty

The exhibition saw the launch of massive real estate ventures, including integrated, modern cities, with a combined investment of around...
  • The recent "Cityscape Global" exhibition in Riyadh showcased the vast urban development initiatives, signaling a bright future for the Kingdom's urban and housing sectors
  • The exhibition highlighted Saudi Arabia's $17 billion Diriyah Gate project and other urban developments, with investments totaling approximately $18.3 billion
Economy

‘Protect the planet, natural resources and heritage’

"The UAE is steadfast in its efforts to mitigate tensions and advocates for dialogue and diplomacy as means of resolution....
  • The UAE emphasizes the importance of protecting the planet, natural resources, and cultural heritage
  • Global challenges highlighted at the UNGA include armed conflicts, climate disasters, and waves of extremism