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.

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

UK’s Labor Party wins enough seats to form majority government

The Labor Party has officially won enough seats in the UK’s 2024 general election to have a majority in parliament,...

Economy
Economy

UAE plays pivotal role in securing global energy supplies: OPEC Secretary-General

Al Ghais said an action plan will be developed in consultation with the OPEC member states and technical committees, in...
  • Al Ghais said an action plan will be developed in consultation with the OPEC member states and technical committees, in line with OPEC's long-term strategy
  • He said that December 2022 will mark six years since the conclusion of the OPEC+ agreement, of which the UAE is a pivotal part
Economy

Egyptian pound plunges to near all-time low as inflation surge

In late March, inflation-hit Egypt also devalued its currency, which lost around 18 percent of its value overnight.
  • Egypt's currency has not fallen so sharply since December 2016 when it hit 19.3 to the US greenback after a drastic devaluation.
  • With its food security under mounting pressure, Egypt in June said it would receive $500 million in financing from the World Bank.
Economy

Panel to steer development of digital ecosystem in UAE formed

The United Arab Emirates has formed a committee that aims to supervise and guide the development of the digital ecosystem...
  • The committee will also enhance readiness, competitiveness, flexibility and digital alignment between projects and digital systems in federal government agencies.
  • Ohood Khalfan Al Roumi, Minister of State for Government Development and The Future, will chair the committee.
Business

HSBC H1 pre-tax profit falls

Pre-tax earnings sank 15 percent to $9.2 billion.
  • Executives are expected to field questions about a restructuring bid from its biggest shareholder Ping An Insurance Group.
  • The bank rebuffed calls to spin off its Asian activities on the eve of a shareholder meet
Economy

UAE gross banks’ assets $936 billion at the end of May 2022

UAE’s central bank said Monday that gross banks’ assets, including bankers’ acceptances, rose to AED3.44 trillion ($936 billion) at the...
  • The CBUAE said the gross credit grew by 2.6 percent, rising from AED1.81 trillion at the end of April 2022 to AED1.86 trillion at the end of May 2022.
  • Gross Credit rose due to 3 percent increase in Domestic Credit, overriding the 0.1 percent reduction in Foreign Credit.
Economy

Over 20K investor accounts join DFM in first 7 months of 2022

Brokerage companies in Dubai Financial Market added 20,552 new investor accounts in the first seven months of 2022. The market...
  • Brokerage companies in Dubai Financial Market added 20,552 new investor accounts in the first seven months of 2022
  • The market witnessed significant momentum since the announcement of the listing of 10 governmental and semi-governmental firms
Business

Algeria eyeing entry into Russia-linked BRICS group

Algerian President Abdelmadjid Tebboune has suggested that his country, Africa's largest natural gas exporter, could join the BRICS economic group...
  • Tebboune's comment of joining BRICS came after Russian President called on BRICS leaders to move towards "formation of a multipolar system of inter-government relations"
  • The President participated in a BRICS virtual summit at the end of June, when Putin called on leaders of the group to cooperate in the face of "selfish actions" from the West
Geostrategy

US envoy pushes Lebanon-Israel talks over maritime dispute

US envoy Amos Hochstein arrived in Beirut Sunday to push talks to resolve a bitter maritime border dispute between Lebanon...
  • Hochstein met with Lebanon's Energy Minister Walid Fayad on Sunday, and is scheduled to meet with President Michel Aoun and prime minister Najib Mikati the following day
  • The maritime border dispute between Lebanon and Israel escalated in early June, after Israel moved a production vessel to the Karish offshore field, partly claimed by Lebanon
Economy

Qatar launches ‘Qatar Host’ tourism training programme

The initiative is part of the Service Excellence Programme, which builds on Qatar Tourism’s strategy, to enhance the visitor experience...
  • The initiative is part of the Service Excellence Programme, which builds on Qatar Tourism’s strategy, to enhance the visitor experience at every touchpoint along their journey
  • The programme involves a multi-pronged approach to ensure a seamless customer journey. In collaboration with stakeholders
Economy

Jordan draws up public sector modernization plan

Jordan king Abdullah urged coordination among state institutions to ensure the implementation of the modernisation roadmap.
  • Jordan king Abdullah urged coordination among state institutions to ensure the implementation of the modernisation roadmap
  • Prime Minister Khasawneh said that the roadmap identified seven pillars as top priorities for improvement and modernisation of public services

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

Company News

Latest News

Egypt, Sudan and Ethiopia restart Nile dam talks

The massive $4.2-billion dam built by Ethiopia has stoked tensions with Egypt and Sudan as they fear the dam will...
Geostrategy

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...
Economy

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

Most Read

Geostrategy

Eastern authorities want Libya aid conference in flood-hit Derna

Benghazi, Libya - Libya's flood-devastated port city of Derna will host an international conference next month to aid reconstruction efforts, authorities...
  • Despite a wave of nationwide solidarity since the flood, there was no immediate show of support for the proposed conference from the Tripoli-based government
  • And even the office of strongman Khalifa Haftar, the main military backer of the eastern administration, questioned how many donor governments would attend
Business

UAE, Armenia ink 4 MoUs at joint business forum

YEREVAN, ARMENIA  - Chairman of the Federation of UAE Chambers of Commerce and Industry (FCCI) Abdullah Mohamed Al Mazrouei and...
  • A UAE delegation of around 100 representatives of government and private entities took part in the forum.
  • In the first seven months of 2023, trade between UAE and Armenia was valued at US$870 million.
Economy

Jordan seeks World Bank support to boost infrastructure projects

Amman, Jordan-- Jordan and the World Bank have held discussions to enhance cooperation in infrastructure projects and the public-private partnerships....
  • Jordanian Minister of Investment Kholoud Al Saqqaf met with World Bank Vice President for Infrastructure Affairs Guangzhe Chen in Amman to broaden the cooperation
  • The Jordanian minister reviewed a list of partnership projects between the public and private sectors, which focus on transportation, water and infrastructure sectors