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.

Saudi Arabia invests billions in biotech sector: report

The kingdom accelerates its biotech and genomics sector with substantial investments, in line with Vision 2030's push for economic diversification...

Economy

MENA’s rising debt: A cause for global concern

MENA's debt-to-GDP ratio surged 23% in 6 years due to pandemic fallout, with only 8 of 19 countries returning to...

Economy
Geostrategy

‘Effective steps needed to tackle situation due to Ukraine crisis’

Jordan's Minister of Foreign Affairs and Expatriates has called for concrete and effective steps to address the effects of the...
  • Jordan's foreign minister calls for concrete steps to deal with the effects of Ukraine crisis on food security, energy prices and supply chains
  • The minister reviews the Kingdom's relations with NATO and Jordan's role in the 'Mediterranean Dialogue' group since 1995
Business

Taliban and US to discuss release of frozen funds after quake

The United States and the Taliban plan talks Thursday in Qatar on unlocking some of Afghanistan's reserves following a devastating...
  • White House said it is working "urgently" on the effort to release Afghan's frozen funds
  • Washington at the time froze $7 billion in reserves and the international community halted billions in direct aid to Afghanistan
Business

Recession fears drag down European, Asian stocks

Asian and European stock markets nursed losses Wednesday on resurgent fears that sharp interest rate hikes aimed at tackling runaway...
  • Bourses in Paris, Frankfurt, Tokyo, and Hong Kong all lost around one percent or more, taking their cues from Tuesday's rout on Wall Street
  • Updated first quarter US GDP data released Wednesday chopped the personal consumption growth figure to 1.8 percent, from 3.1 percent
Economy

New law to allow UAE companies to act as commercial agents

The new draft law is geared to provide more business opportunities for UAE citizens and allow new categories of citizens...
  • The new draft law is geared to provide more business opportunities for UAE citizens and allow new categories of citizens to access the commercial agencies business
  • The UAE has also enacted a new draft law on the cooperatives that allows for the establishment of various forms of cooperatives in the country
Science

Metaverse can contribute $4bn to UAE economy

The Dubai Metaverse Strategy anticipates that 42,000 jobs will be virtualized through the metaverse by 2030 while also improving resident...
  • The Dubai Metaverse Strategy, which was recently announced, aims to raise the metaverse sector's contribution to the UAE's economy to $4b by 2030
  • Dubai companies like Emirates, Damac and others are already betting big on this world, and many more are expected to join the pack
Business

UAE Minister promotes trade, friendly ties during Florida visit

UAE Minister of State for Foreign Trade Dr Thani bin Ahmed Al Zeyoudi concluded a two-day visit to Florida which...
  • The UAE minister's trip to Florida builds on recent trips to the UAE by local Florida officials
  • He attended several high level business development and networking events and meetings
Business

US stocks on defensive amid inflation and slowdown anxiety

Wall Street stocks were mixed early Wednesday, treading water after the prior session's pullback that came amid worries over soaring...
  • After last week's rally, stocks were back on the defensive Tuesday, falling hard after downcast consumer confidence reading.
  • The broad-based S&P 500 added 0.1 percent at 3,825.61, while the Nasdaq Composite Index dipped 0.1 percent to 11,173.57.
Geostrategy

Ocean-based climate solutions important, says UAE Minister

UAE Minister of Climate Change and the Environment Mariam bint Mohammed Almheiri said that leveraging nature-based solutions, especially blue carbon...
  • The UAE minister says leveraging nature-based solutions to mitigate and adapt to the impacts of climate change is vital
  • She says important to explore ways to tackle marine pollution from land- and sea-based sources
Business

Qatar trade balance surplus surged 120 percent in May

The year-on-year increase in total exports was mainly due to higher exports of petroleum gases and other gaseous hydrocarbons reaching...
  • The total exports of goods (including exports of goods of domestic origin and re-exports) amounted to around QR 45.3 billion.
  • The imports of goods in May 2022 amounted to around QR 8.8 billion, showing an increase of 5.5 percent compared to May 2021.
Business

World Bank approves $130m loan for Tunisia to ensure food security

The loan approved Wednesday aims to ensure "affordable bread for the poor, barley for livestock, and agricultural inputs for domestic...
  • The package is aimed at lessening the impact of the Ukraine war by financing vital soft wheat imports.
  • Tunisia is dealing with heavy public debt, a low credit rating and steep inflation, which worsened because of Ukraine war.

Saudi Arabia invests billions in biotech sector: report

The kingdom accelerates its biotech and genomics sector with substantial investments, in line with Vision 2030's push for economic diversification...
Economy

Company News

Latest News

UAE’s financial wealth to reach $1.3trn by 2027

Abu Dhabi, UAE - The financial wealth of United Arab Emirates (UAE) is anticipated to experience a Compound Annual Growth...
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...
Economy

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

Most Read

Geostrategy

Building less, repurposing more key to low construction sector emissions

The industry is responsible for 37 percent of global carbon dioxide emissions and growing urbanization is spurring the construction of...
  • Mushrooming urban environments -- which add new buildings in an area equivalent in size to Paris every five days -- damage life-sustaining ecosystems.
  • Building less and repurposing existing structures generates 50-75 percent fewer emissions than new constructions, a report said.
Business

Over 3,500 new members register with Ajman Chamber in H1 2023

AJMAN, UAE- The Ajman Chamber of Commerce and Industry (ACCI) has revealed that in the first half of 2023, at...
  • The industrial membership in the Ajman Chamber grew by 6.9 percent during the first half of this year compared to the first half of 2022.
  • The Ajman Chamber is keen to attract specialized investments in modern industries based on technology and artificial intelligence.
Business

Saudi capital market institutions employ 5,524 by second quarter end: CMA

Dubai, UAE -- The number of employees at capital market institutions rose by 103 quarter-on-quarter (QoQ) to 5,524 by the...
  • Males accounted for 80 percent of the employees at capital market institutions, with 4,400 employees, while the number of females stood at 1,124.
  • Meanwhile, the Saudization rate at these institutions reached 75 percent by the end of Q2, from 77 percent in Q1, according to the Capital Market Institutions Report.