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.

Powell indicates Fed won’t wait until inflation is down to 2% before cutting rates

Federal Reserve Chair Jerome Powell said Monday that the central bank will not wait until inflation hits 2% to cut...

Economy

UAE realty sector poised for growth as central bank forecasts 6.2% GDP growth in 2025

Factors such as increased foreign investment, ambitious urban projects, and favorable regulatory reforms are expected to propel the real estate...

Business
Economy

Asian markets rise as US data boosts hopes of slower Fed hikes

Asian stocks rose Friday after data showing another contraction in the US economy boosted hopes that the Federal Reserve will...
  • After an extended period of pessimism on trading floors fuelled by soaring inflation, investors are beginning to speculate that the market may have reached its nadir
  • The prospect of US rates not rising as fast as previously expected hit the dollar, which has soared in recent months against most other currencies
Economy

Algeria, Nigeria, Niger discuss gas pipeline to Europe

The Trans-Saharan Gas Pipeline (TSGP) would transport billions of cubic metres of gas some 4,128 kilometres (2,565 miles) from Nigeria...
  • The Trans-Saharan Gas Pipeline (TSGP) would transport billions of cubic metres of gas some 4,128 kilometres (2,565 miles) from Nigeria in West Africa
  • Algeria, Africa's largest natural gas exporter, has already seen increased demand following Moscow's invasion of Ukraine
Geostrategy

Macron welcomes Saudi Crown Prince, two discuss energy supply

French President Emmanuel Macron on Thursday warmly welcomed Saudi Arabia's Crown Prince Mohammed bin Salman for talks in Paris, with...
  • Crown Prince and the French President held an expanded meeting in the presence of the delegations of the two countries, according to Saudi Press Agency
  • For western countries desperate to find new sources of energy, the 36-year-old de-facto leader of the world's biggest oil producer has become an essential figure.
Economy

US Department of State releases 2022 Investment Climate Statements

The US Department of State released on Thursday the 2022 Investment Climate Statements, which help US companies make informed business...
  • These help US companies make informed business decisions by providing up-to-date information on the investment climates of more than 160 countries.
  • The statements also assess how governments uphold international labor standards and combat corruption among other considerations.
Geostrategy

UAE, Kenya to begin negotiations on free trade agreement

UAE and Kenya announced their intention to begin talks for a Comprehensive Economic Partnership Agreement (CEPA) between the two countries...
  • UAE and Kenya announce their intention to begin talks for a Comprehensive Economic Partnership Agreement
  • If inked, the CEPA pact will be the first free trade deal between UAE and an African nation
Business

ADNOC eyes stake in key Egypt firm

ADNOC Distribution will acquire 50 percent stake in TotalEnergies Egypt.
  • ADNOC Distribution said it will acquire a 50 percent stake in TotalEnergies Egypt for about US$186 million
  • The acquisition will also see the refurbishment of several service stations to full ADNOC branding
Economy

Saudi economy to be fastest-growing economy in 2022, says IMF

The International Monetary Fund (IMF), in its World Economic Outlook, 2022 said that the Saudi economy will register a 7.6...
  • The International Monetary Fund in its World Economic Outlook, 2022 says the Saudi economy will register a 7.6 percent growth rate this year
  • Saudi Arabia's expected growth, as per IMF, would be the highest among advanced, emerging market and developing economies
Economy

UAE launches Power to Liquids roadmap to decarbonize aviation sector

The United Arab Emirates has launched the Power-to-Liquids (PtL) Roadmap: Fueling the Aviation Energy Transition in the United Arab Emirates,...
  • The PtL roadmap shows the financial, economic and environmental benefits of PtL in decarbonizing the UAE's aviation industry.
  • It says PtL offers a unique opportunity for the Emirates to leverage domestic resources, infrastructure and expertise to grow and decarbonize the economy.
Business

Saudi Central Bank, CMA support 12 fintech startups

The startups presented their innovative solutions following months of hard work that contributed to developing their product strategies and business...
  • The startups presented their innovative solutions following months of hard work that contributed to developing their product strategies and business models
  • The companies that took part displayed cutting-edge fintech products that directly address social demands and provide solutions to pressing issues
Economy

US Fed decision impacts key policy rates across GCC

While Saudi apex bank has raised its repurchase rate by 75 bps to 3%, and its reverse repo rate by...
  • Hours after the US Federal Reserve hiked its key interest rates by 75 bps, the GCC countries followed the suit and increased their policy rates by the same margin
  • While the Fed’s step was aimed at combating the soaring inflation, the regional economies followed the US moves as their currencies are pegged to the dollar

Powell indicates Fed won’t wait until inflation is down to 2% before cutting rates

Federal Reserve Chair Jerome Powell said Monday that the central bank will not wait until inflation hits 2% to cut...
Economy

Company News

Latest News

Kuwait and China sign raft of agreements to bolster ties

Looking to shore up ties between the two countries, Kuwait and China have signed cooperation agreements across a range of...
Economy

UAE-Saudi non-oil trade reaches US$159bn in 2018-22

ABU DHABI, UAE - The volume of trade exchange between the UAE and the Kingdom of Saudi Arabia grew by...
Business

Afghan wushu fighters defy money woes to pursue Asian Games glory

Afghanistan will compete in 15 sports in Hangzhou, the country's first Asian Games since the Taliban seized power in 2021....
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

China to control half the world’s hydrogen electrolyser capacity

China's installed electrolyzer capacity has jumped significantly in recent years, and is expected to reach 1.2 gigawatts –- 50 percent...
  • China's installed electrolyzer capacity has jumped in recent years and is expected to reach 1.2 gigawatts after having accounted for just 10 percent of the global capacity in 2020
  • Electrolyzers are devices used for the industrial separation of hydrogen and oxygen within water molecules, using electricity obtained through renewable energy sources
Economy

Egypt’s central bank keeps interest rates unchanged

Cairo, Egypt – The Central Bank of Egypt (CBE) decided to maintain interest rates at current levels during its meeting...
  • The bank kept the overnight deposit rate, overnight lending rate and the rate of the main operation at 19.25%, 20.25% and 19.75%, respectively
  • The discount rate remained at 19.75%. The pause on interest rate change comes after 12-percent hikes since March 2022.
Business

ITFC collaborates with Turk Eximbank for providing joint loan of US$277m

JEDDAH, SAUDI ARABIA - The International Islamic Trade Finance Corporation (ITFC), which is a member of the Islamic Development Bank,...
  • This collaboration aims to enhance trade volume among the member states of the Organization of Islamic Cooperation.
  • The loan aims to support the development of small and medium enterprises' exports as well as private sector companies in Turkey.