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.

Oil prices fall amid Israeli Palestinian cease-fire hopes, US crude stockpile building

Oil prices fell on Wednesday over growing hopes for a cease-fire agreement between Israel and Hamas and rising crude inventories...

Economy

Europe reverses course on interest rates, diverging from U.S. Fed policies

For much of the past two years, policymakers on both sides of the Atlantic raised interest rates aggressively to fight...

Economy
Economy

Saudi Arabia mulls welfare funds to ease inflation

The Kingdom has allocated $5.3bn to deal with the fallout of rising global prices, with half of the fund going...
  • The Kingdom has set aside $5.3bn to deal with the fallout of rising global prices, with half of the fund going to social insurance beneficiaries and the Citizens' Account program.
  • According to the recent data issued by Saudi Arabia’s General Authority for Statistics, inflation rose marginally to 2.3 percent year-on-year in June 2022
Economy

Dubai’s labor body to expand schemes for welfare of workers

The Permanent Committee for Labor Affairs has reiterated its commitment to collaborate with private and social organizations to consolidate the...
  • The Permanent Committee for Labor Affairs said it will collaborate with private, social organizations for progressive labor policies in Dubai
  • PCLA said it pursues workplace campaigns and community initiatives to improve workers’ standard of living and working
Economy

IMF adopts plan to better account for gender gaps

Kristalina Georgieva in a statement.said that the Washington-based organization would immediately begin implementing the strategy.
  • Kristalina Georgieva in a statement.said that the Washington-based organization would immediately begin implementing the strategy
  • She added that "well-designed macroeconomic, structural, and financial policies can support efficient and inclusive outcomes.”
Economy

Abu Dhabi records $6.13bn of real estate transactions in H1 2022

Abu Dhabi's real estate market sustained growth driven by investor optimism, recording 7,474 property transactions amounting to over US$6.13 billion...
  • Abu Dhabi's real estate market recorded 7,474 property transactions worth over US$6.13bn in H1 2022
  • Department of Municipalities and Transport half-yearly report says all kinds of land, buildings and real estate were purchased, sold and mortgaged
Business

Twitter Q2 revenue at $1.18bn

Twitter reported disappointing results on Friday, a miss that the social network attributed to "headwinds" including the uncertainty related to...
  • Twitter missed expectations with revenue of $1.18 billion, due to "advertising industry headwinds"
  • Uncertainty related to the pending acquisition of Twitter by an affiliate of Elon Musk is also touted as a reason for the results
Geostrategy

‘Bilateral ties strengthened with UAE President’s France visit’

The French Ambassador to the UAE, Xavier Chatel, described the first official visit to France of UAE President Sheikh Mohamed...
  • The French Ambassador to the UAE described the first official visit to France of UAE President as successful
  • Sheikh Mohamed bin Zayed Al Nahyan's visit underscores deep-rooted friendship between the two countries
Economy

Allotted industrial & commercial land rules in Dubai amended

Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister has issued a decree regulating the grant of title...
  • Sheikh Mohammed bin Rashid issued Decree No. (25) of 2022 amending some of the articles of Decree No. (4) of 2010
  • Article (1) outlines the definitions in the decree, while Article (2) covers the ownership of granted land
Business

French oil, shipping firms reduce prices under government pressure

French oil group TotalEnergies and shipping giant CMA CGM announced price cuts on Friday as demanded by the government amid...
  • French oil group TotalEnergies and shipping giant CMA CGM announce price cuts
  • The French government demanded that energy and transport firm cut prices amid calls for windfall taxes
Economy

UAE Federal Tax Authority carries out 9,500 inspections in H1 2022

The Federal Tax Authority expanded its efforts in collaboration with various government departments, ministries and authorities to protect consumers from...
  • During the first half of this year, the FTA carried out 9,948 inspection visits in local markets across the country
  • Inspections conducted H1 of 2022 increased by 104 percent compared to 4,878 inspections conducted H1 of 2021.
Business

2.6% year-on-year rise in insurance sector assets in Q1 2022: CBUAE

The number of insurance policies increased Y-o-Y by 10.4 percent in Q1 2022 to 2.3 million policies compared to 2.1...
  • The number of insurance policies increased Y-o-Y by 10.4 percent in Q1 2022 to 2.3 million policies compared to 2.1 million policies
  • Gross Written Premiums increased Y-o-Y by 4.6 percent in Q1 2022 to AED 15.8 billion mostly due to an increase in property and liability insurance premiums

Oil prices fall amid Israeli Palestinian cease-fire hopes, US crude stockpile building

Oil prices fell on Wednesday over growing hopes for a cease-fire agreement between Israel and Hamas and rising crude inventories...
Economy

Company News

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UN meet looks to salvage promises on helping world’s poorest

The UN head said the summit will seek a "global rescue plan" on the targets of Sustainable Development Goals, as...
Economy

Surplus in overall balance makes UAE’s economy robust

"The fiscal policy bolstered economic growth and the competitive business environment, leading to the UAE being ranked as the fastest-growing...
Economy

Climate action an opportunity to create more equitable world: Almheiri

Dubai, UAE-- Terming climate action as an opportunity to create a more equitable and sustainable world, Mariam bint Mohammed Almheiri,...
Economy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Geostrategy

Desperate Sudanese face endless wait for passports so they can flee

A million people have crossed Sudan's borders since April, fleeing the devastating war between the Sudanese army and the paramilitary...
  • Since the authorities inaugurated a new passport office in the eastern city of Port Sudan in late August, hundreds of people have lined up all day, every day
  • Sudan was already one of the world's poorest countries even before the war broke out, but now it has plunged into a horrific humanitarian crisis
Economy

Iran and Cuba to set up joint ‘technology and innovation’ center

Tehran, Iran-- Iran and Cuba are looking to to set up a joint technology and innovation center to promote cooperation...
  • The two countries apart from boosting economic ties are keen to develop mutual cooperation in the fields of science and technology
  • Cuba is planning to hold an exhibition in 2024 and has invited Iranian knowledge-based companies to showcase their latest achievements

US Fed likely to pause rate hikes despite higher inflation

The Fed has raised interest rates 11 times over the last 18 months, lifting its key lending rate to a...
  • Inflation has ticked up again in recent months due to a spike in energy costs, keeping up the pressure on the Fed
  • In recent weeks many policymakers have said that additional rate hikes will likely be needed to bring inflation down