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.

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

UAE ranks among the world’s most competitive economies in 2024, says Switzerland’s IMD ranking

The country has risen to the 7th spot in the IMD World Competitiveness Ranking, highlighting its robust economic growth, strategic...

Economy
Economy

Global economic growth slows amid gloomy, uncertain outlook: IMF forecast

Higher-than-expected inflation, especially in the United States and major European economies, is triggering a tightening of global financial conditions.
  • Higher-than-expected inflation, especially in the United States and major European economies, is triggering a tightening of global financial conditions
  • China’s slowdown has been worse than anticipated amid COVID-19 outbreaks and lockdowns, and there have been further negative spillovers from the war in Ukraine
Business

Microsoft earnings fall

The poor performance result of sagging demand.
  • The US technology giant reported profit of $16.7 billion on revenue of $51.9 billion, topping the same quarter a year earlier but missing market forecasts.
  • The earnings stumble was due mostly to foreign exchange rates and shutdowns of personal computer factories in China
Economy

Lebanon approves $150m World Bank loan for wheat import

Lebanon's parliament approved on Tuesday a $150 million World Bank loan to import wheat, as shortages of subsidized bread intensify...
  • Long lines have formed in front of bakeries and supermarkets where people wait hours for a bag of subsidized Arabic bread.
  • Lebanon imports 80 percent of its wheat from war-torn Ukraine, according to a representative of Lebanon's wheat importers.
Economy

IMF cuts global growth outlook amid US, China slowdowns

In its latest World Economic Outlook, the International Monetary Fund cut the 2022 global GDP estimate to 3.2 percent, four-tenths...
  • The top priority for policymakers is to rein in soaring prices, even at the cost of inflicting pain on their citizens, the fund said.
  • China's economy is expected to slow dramatically in 2022, expanding just 3.3 percent -- the lowest in more than four decades.
Economy

Iraqi Kurd farmers battle drought as Lake Dukan retreats

The artificial lake was created in the 1950s following construction of the Dukan dam, to supply irrigation and drinking water...
  • The artificial lake was created in the 1950s following construction of the Dukan dam, to supply irrigation and drinking water for the region, as well as generate electricity
  • With rainfall becoming a rarity and after three successive years of drought, Iraq has been forced to halve the area it devotes to agriculture

Morocco retrieves eight migrant bodies off its coast

Moroccan authorities on Monday retrieved the bodies of eight migrants off the southern shores of the North African kingdom, local...
  • Their inflatable boat sank near the coastal town of Akhfennir in Tarfaya province as it tried to reach Spain's Canary Islands
  • Almost 1,000 migrants died or were reported missing at sea in the first half of the year as they tried to reach Spain, rights group said
Business

JCDC, Cruise Saudi to develop Jeddah Central Project design

The Marina and terminal will contribute to transforming Jeddah’s coastline.
  • The Marina and terminal will contribute to transforming Jeddah’s coastline
  • The project will also foster growth of the Kingdom’s marine tourism industry
Science

Saudi Crown Prince unveils designs for futuristic city The Line

Crown Prince Mohammed bin Salman bin Abdulaziz, and Chairman of the NEOM Board of Directors, Monday announced the designs of...
  • THE LINE is a civilizational revolution that puts humans first, providing an unprecedented urban living experience while preserving the surrounding nature
  • The designs of THE LINE embody how urban communities will be in the future in an environment free from roads, cars and emissions
Economy

Bahrain joins UAE, Jordan and Egypt in industrial pact

Prime Minister of Egypt Mostafa Kamal Madbouly witnessed a signing ceremony Monday in Cairo that welcomed Bahrain as the fourth...
  • The Industrial Partnership for Sustainable Economic Development was announced in the UAE on May 29, 2022 with an aim to empower their industrial sector.
  • The plan was establish large joint industrial projects, providing private sector companies with opportunities for expansion and creating job opportunities.
Economy

7.1 GW of renewable energy under production in Saudi Arabia

Saudi Ministry of Energy has put forward renewable energy projects with a production capacity of 7.1 gigawatts (GWs), which are...
  • The current production capacity of renewable energy projects is 700 megawatts.
  • Energy projects are covered under the National Renewable Energy Program (NREP).

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

Company News

Latest News

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,...
Business

Ajman’s exports rise 19 percent in H1 2023

AJMAN, UAE – The Ajman Chamber of Commerce and Industry (ACCI) has revealed that the volume of exports from the...
Business

Stocks fall after Federal Reserve says it may hike interest rates

Global stocks sank after the US Federal Reserve hinted it could hike interest rates again this year to tame inflation...
Market Report
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Syria’s Bashar Al-Assad visits China seeking funds

China becomes one of only a handful of countries outside the Middle East that Assad has visited since the 2011...
  • The Syrian President arrived Thursday in the eastern city of Hangzhou, where he will attend the opening ceremony of the Asian Games on Saturday
  • Asad's Air China plane was greeted on the tarmac by jubilant music and rows of performers wearing colourful costumes, as Chinese and Syrian flags flapped in the sky
Economy

GCC countries hold interest rates following US Fed decision

Abu Dhabi, UAE -- In the wake of the US Federal Reserve's decision to maintain its interest rates, GCC countries,...
  • The US Federal Reserve, on Wednesday, voted to keep interest rates at a 22-year peak, suggesting that these rates might need to persist at these highs to tame inflation.
  • The CBUAE will continue to set the rate for short-term liquidity borrowing at 50 basis points above the Base Rate.

Turkey expected to hike interest rate to 20-year high

The mercurial Turkish leader performed one of his trademark policy reversals after winning a difficult re-election in May. The vote...
  • Erdogan called high rates "the mother and father of all evil" and spent years pushing the central bank to lower borrowing costs to speed up economic growth
  • Inflation rate approached 60 percent in August and is climbing much faster than projected by Erdogan's new economic team of former Wall Street executives