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.

World Bank estimates damage to Gaza infrastructure at $18.5bn

The World Bank said in its interim damage assessment, this is equivalent to 97 percent of the combined economic output...

Economy

Debt, trade barriers drag Asian economies in 2024, says World Bank report    

BANGKOK, THAILAND – Asian economies are not doing as well as they could and growth in the region is forecast...

Economy
Business

Dubai Chamber members’ exports up 28 percent in May, highest since 2018

The strength of the Dubai economy, the flexibility of the emirate's merchants and the value of Dubai Chamber of Commerce...
  • Dubai’s strategic plan to boost foreign trade by up to AED 2 trillion ($544 billion) in five years, Al Ghurair said.
  • GCC countries accounted for 55 percent of the total exports and re-exports of the members in May 2022.
Economy

Work in water reservoir project in Hatta ahead of schedule

The project includes the construction of two reservoirs with a storage capacity of 30 million gallons of desalinated water, supporting...
  • Progress in the Hatta water reservoir project is ahead of schedule as 36 percent completed compared to 32 percent target
  • The project has a capacity of 30 million imperial gallons at a cost of approximately AED 86 million
Economy

Address needs of women entrepreneurs: DG WTO at MC12

Unlocking trade for women's empowerment and sustainable development is not just the right thing to do, Okonjo-Iweala said
  • Unlocking trade for women's empowerment and sustainable development is not just the right thing to do, Okonjo-Iweala said
  • A strong and effective WTO is critical for these women, which is one more reason why delivering results at MC12 this week is so important, she added
Economy

Visa-free travel to Saudi Arabia for GCC residents

Under the new visa scheme, all GCC residents with a valid resident and work visa issued by the UAE, Bahrain,...
  • The informed sources at the ministry told TRENDS that the draft for the new scheme is ready and will be officially announced in the next few days
  • Under the new visa scheme, all GCC residents with a valid resident and work visa will be allowed entry into Saudi Arabia for business, tourism, and Umrah purposes
Economy

Saudi Arabia pledges $10m to prevent Red Sea oil spill disaster

Saudi Arabia on Sunday pledged $10 million to help prevent an ageing Yemeni oil tanker from unleashing a potentially catastrophic...
  • The decaying 45-year-old oil tanker abandoned off the rebel-held Yemeni port of Hodeida, is in "imminent" danger of breaking up
  • According to the UN, the operation needs to be completed by the end of September to avoid "turbulent winds" that pick up later in the year
Economy

US gasoline average price tops $5 per gallon in historic first

The national average price for regular unleaded gas rose to $5.004 a gallon on June 11 from $4.986 a day...
  • The national average price for regular unleaded gas rose to $5.004 a gallon on June 11 from $4.986 a day earlier
  • Adjusting for inflation, the US gasoline average is still approximately 8% below June 2008 highs around $5.41 a gallon, according to US Energy Department figures
Business

Qatari, Swiss firms discuss investment prospects in medical tourism

The two countries will celebrate 50 years of diplomatic relations in 2023, which includes organizing events like car exhibitions, and...
  • Ambassador of Switzerland to Qatar, Edgar Dorig, said there are various opportunities to enhance Qatari-Swiss cooperation in multiple sectors.
  • He noted that the volume of trade between the two countries rose to more than QR 5 billion in 2021, witnessing an increase compared to 2020.
Interview

Qatar Economic Forum highlights country’s role

The forum reflects the strategic position of Qatar as an influential economic player and as a bridge for communication and...
  • Qatar Economic Forum reflects the country's status as an influential economic player
  • The forum reflects Qatar's keenness to enhance international cooperation to achieve a just economic recovery
Business

TotalEnergies takes $2bn share in Qatar’s giant gas expansion plan

Qatar's Energy Minister Saad Sherida al-Kaabi called the joint venture "a marriage more than an engagement" as it will last...
  • TotalEnergies will take a 6.25 percent share of the North Field East Project in its joint venture with QatarEnergy
  • Exxon Mobil, Shell, ConocoPhilips are all in line to take part in giant expansion that Qatar originally wanted to finance alone
Business

Sudan ship sinks with 15,800 sheep on board

An overladen ship crammed with thousands of sheep capsized Sunday off Sudan's Red Sea coast drowning the animals on board...
  • The livestock vessel was heading from Sudan's port of Suakin to Saudi Arabia when it ran into trouble in the Red Sea
  • Sudan remains gripped by a chronic economic crisis, which has deepened following last year's military coup led by army chief Abdel Fattah al-Burhan

World Bank estimates damage to Gaza infrastructure at $18.5bn

The World Bank said in its interim damage assessment, this is equivalent to 97 percent of the combined economic output...
Economy

Company News

Latest News

BRICS’ share in global GDP to rise to 30% from January 2024: Indian bank

New Delhi, India -  The share of the BRICS (Brazil, Russia, India, China, South Africa) group in the global Gross...
Economy

Saudi Arabia forms Global Water Organization to secure sustainable resources

Jeddah, Saudi Arabia--Saudi Arabia’s Crown Prince Mohammed bin Salman has announced the establishment of Global Water Organization in order to...
Economy

Arab economies projected to grow 3.4% in 2023: AMF official

The growth may increase to 4% in 2024. Arab Monetary Fund Director-General Dr. Abdul Rahman bin Abdullah Al Humaidi stressed...
Economy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Economy

Iran expects cooperation with Turkey to grow in Erdogan’s new term

Tehran, Iran-- Iran's President Ebrahim Raisi expects cooperation between his country and Turkey to grow during the "new term" of...
  • Iran's president met with the foreign minister of Turkey and other officials and hoped for an enhancement in ties between the two countries
  • The Turkish foreign minister believes that the bilateral trade between Ankara and Tehran can reach US$30 billion as the overall relations grow
Economy

Turkey’s inflation nears 60%, piling pressure on new team

campaign pledges and a massive reconstruction effort launched after a major earthquake claimed more than 50,000 lives in Turkey's southeast....
  • The state statistic agency said prices rose by 58.9 percent over 12 months ending in August compared to 47.8 percent in July
  • The latests data will test the limits of how much leeway Erdogan's new market-friendly team has to raise borrowing costs
Economy

Middle East needs ‘New Deal’ to deliver for its 600 million people: IMF officials

Dubai, UAE - Middle East needs a ‘New Deal’ to deliver for its 600 million people more jobs, better education,...
  • MENA countries are urged to move away from state-dominated economic activities, particularly those with high debt burdens and youth unemployment rates
  • Governments are advised to improve digital infrastructure, enhance digital literacy, and develop workforce skills to promote digital adoption