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.

Dubai 21st most richest city in the world, top in the Middle East

New York is the richest city in the world, with 359,500 millionaires and 60 billionaires, although the Bay Area of...

Economy

GCC countries mobilize to build resilient industrial supply chains: report

GCC countries are prioritizing actions like near-shoring, international partnerships, and technology adoption to ensure supply chain adaptability and responsiveness, says...

Economy
Geostrategy

Ukraine asks Turkey to detain Russian cargo ship

Ukraine on Friday asked Turkey to detain a Russian-flagged cargo ship that Kyiv alleged had set off from a Kremlin-occupied...
  • Kyiv's ambassador to Ankara said the ship had set sail from Ukraine's Kremlin-occupied port of Berdyansk
  • The Marinetraffic.com website said the 140-metre general cargo vessel was sailing under the Russian flag
Economy

GCC govts lend roof to residents via interest-free loans

The value of home loans granted by the GCC govts to their residents range between $150,000 and $330,000 and are...
  • Many GCC countries provide interest-free home loans to their residents to strengthen their family conditions and provide adequate living space
  • Loans granted by GCC govts to residents range between $150,000 and $330,000 and are repaid through simplified methods and in short payments.
Economy

Free trade pact with UAE will help Indonesia, says envoy

The Comprehensive Economic Partnership Agreement (CEPA) signed between Indonesia and the UAE on Friday will bring economic prosperity to a...
  • The trade pact is expected to boost imports of petrochemicals from the UAE to Indonesia
  • Indonesia imports around two million tonne of petrochemicals annually from the global market
Economy

Abu Dhabi Industrial Strategy to boost growth, says Dr Al Jaber

UAE Minister of Industry and Advanced Technology Dr Sultan bin Ahmed Al Jaber said the country continues to empower the...
  • UAE empowers the industrial sector and increase its competitiveness by leveraging its resources, advantages and capabilities
  • The strategy will support national industrial growth, nurture and empower Emirati talent, create a smart circular economy
Economy

‘Industrial sector a key player in Abu Dhabi’s economy’

Industrial sector performs key role in Abu Dhabi’s economy and a new industrial financing entity will soon be established for...
  • ADDED chairman says a new industrial financing entity will soon be established for large industries and SMEs
  • He said initiatives such as reducing electricity, water and gas tariffs have been launched to attract investments
Business

Abu Dhabi to set up industrial financing entity: Chairman ADDED

A new industrial financing entity will soon be established in Abu Dhabi to finance large industries and small and medium-sized...
  • The entity will finance large industries and SMEs as industrial financing requires the establishment of new frameworks, Al Hammadi said.
  • Abu Dhabi's industrial sector contributed about AED 83.5 billion to the emirate's GDP in 2021.
Economy

Europe revives Syria phosphate imports, profiting Russian firm

Syrian phosphates used for fertiliser are being exported to Europe in bulk, benefitting a Russian firm and the sanctions-hit Damascus...
  • The regime in Syria has since 2015 been heavily backed by Russia in its long-running civil war
  • The trade is growing fast as the war in Ukraine drives up fertiliser and phosphate prices
Economy

Online platforms help GCC reduce local unemployment

Many Gulf countries have set up electronic platforms to localize government and private sector jobs to reduce the national unemployment...
  • Many Gulf countries have set up electronic platforms to localize govt and private sector jobs to deal with national unemployment.
  • These platforms provide residents with quick and accessible electronic services for applying for government and private sector jobs.
Economy

US price increases held steady, consumer spending growth down: Report

The world's largest economy has been battered for months by a cresting inflation wave, made more painful by the surge...
  • The personal consumption expenditures (PCE) price index rose 6.3 percent compared to May 2021.
  • Excluding volatile food and energy prices, PCE rose 0.3 percent in the month, the same as in April.
Economy

UAE, South Korea ink pact to support entrepreneurs, SMEs

The UAE and South Korea sign an agreement to launch a joint cooperation program to support entrepreneurs and SMEs. During...
  • The UAE and South Korea sign an agreement to launch a joint cooperation program to support entrepreneurs and SMEs
  • During the 11-month program, the two sides will discuss and cooperate in entrepreneurship and SME development

Dubai 21st most richest city in the world, top in the Middle East

New York is the richest city in the world, with 359,500 millionaires and 60 billionaires, although the Bay Area of...
Economy

Company News

Latest News

China denies ban on use of iPhone in government agencies

Beijing, China--China on Wednesday denied there was any ban on officials purchasing or using foreign phones, including iPhones, after reports said...
Business

UAE and Germany hold workshop on hydrogen strategies, carbon markets

Abu Dhabi, UAE-- Looking to exchange expertise and explore potential synergies in hydrogen and carbon trading, an industry workshop was...
Economy

Ajman records US$1.01 billion in construction contracts in H1 2023

Ajman, UAE-- The value of construction contracts in the emirate has exceeded $1.01 billion during the first half of 2023,...
Economy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Economy

UAE economic expansion to continue, after posting 3.8% growth in Q1: OPEC

Vienna, Austria--The Organization of the Petroleum Exporting Countries (OPEC) has confirmed that the UAE's economy grew by 3.8 percent in...
  • The UAE's economic expansion, according to the OPEC report, will continue, noting that the key sectors of the country's economy have posted significant growth
  • The report highlighted the sectors that posted growth were transportation and storage (10.9%), construction (9.2%), and accommodation and food services (7.8%)
Business

WTO says era of de-globalization is closer than it appears

Geneva, Switzerland - The de-globalization of international trade is far from being a reality, but "the first signs of fragmentation" are...
  • After this phase of slowing globalization, the question is "whether we are moving towards a phase of deglobalization", said WTO official Ralph Ossa.
  • "We're quite far away from deglobalizing, but at the same time, you start seeing... the first cracks in the system," the WTO official said.
Geostrategy

WFP warns fund cuts could push 24m people to brink of starvation

Geneva, Switzerland - The World Food Program said Tuesday that shrinking funding was forcing it to drastically slash rations in many...
  • WFP said it had been struggling to meet growing global needs for food assistance while facing a funding shortfall of over 60 percent this year.
  • WFP estimates that 345 million people worldwide are facing acute food insecurity, at level three or higher on the UN's five-scale food insecurity classification.