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.

Saudi women’s unemployment drops to 13.7% by 4Q 2023

Riyadh, Saudi Arabia - The unemployment rate among Saudi women witnessed a historic decline, plummeting to 13.7 percent in the...

Economy

Gulf nations embark on defense industry localization

Saudi Arabia leads GCC efforts towards defense self-reliance by creating the first military industries committee, aiming to reduce foreign imports...

Economy
Economy

Kuwait wants Schengen visa exemption for its citizens

Speaker of Kuwaiti National Assembly Marzouq Al-Ghanim expressed optimism that the exemption request would be granted.
  • Speaker of Kuwaiti National Assembly Marzouq Al-Ghanim expressed optimism that the exemption request would be granted
  • Al-Ghanim said the Kuwaiti delegation responded to many questions on issues like human rights and women empowerment
Economy

UAE, Jordan, Egypt ministers discuss roadmap for new partnership

Less than a week after the signing of the Industrial partnership for Sustainable Economic Growth, ministers from the UAE, Egypt...
  • The Ministers discussed time frames for implementing the initiatives and how their performance can be measured
  • The members approved the appointment of Omar Al Suwaidi, Under-Secretary of the Ministry of Industry and Advanced Technology, as Secretary-General of the tripartite higher committe
Business

ENEC, KEPCO discuss cooperation in nuclear sector, ways to curb carbon emission

The Barakah Plant will help in the decarbonization of the power sector in the UAE and the Arab World
  • ENEC, KEPCO discussed prospects for future cooperation and exploring the opportunities available in the nuclear energy sector
  • The overall completion rate of the Barakah Plant is now over 97 percent and the first and second units are producing electricity
Business

Cybersecurity challenges keep Gulf region on its toes

About 25% of ransomware data theft attacks in the GCC are reported from the UAE followed by Saudi Arabia (15.5%),...
  • Home networks in the UAE were a magnet for cybercriminals who targeted systems, devices, and networks
  • Saudi Arabia's Wired Telecommunications Carriers and Other telecommunications sectors ranked as the most targeted industries within the country
Economy

UAE Healthcare charity to receive donations in crypto

Crypto philanthropy has emerged as an important and sustainable source of fundraising for charities, giving people greater opportunities to donate...
  • Crypto philanthropy has emerged as an important and sustainable source of fundraising for charities, giving people greater opportunities to donate for good
  • According to Chainalysis, the Middle East is one of the fastest-growing cryptocurrency markets in the world, making up seven per cent of global trading volumes
Economy

Turkey’s inflation climbs to its highest level in 24 years

Turkey's inflation climbed to its highest level since 1998, hitting an annual 73.5 percent in May, official data showed Friday,...
  • The central bank refused again last week to raise its main rate, keeping it at 14 percent.
  • Transport prices jumped by 107.6 percent in May while food was up by 91.6 percent.
Economy

US adds nearly 400,000 jobs in May, jobless rate 3.6 percent

Restaurants and hotels that were decimated due to Covid-19 showed a strong recovery in May, adding 84,000 positions, the data...
  • The jobless rate held steady at 3.6 percent for the third consecutive month
  • Employers have struggled to fill open positions, which has pushed wages higher
Economy

UAE attracted nearly $21 billion of FDI in 2021: Minister

The UAE succeeded in attracting more than $20.7 billion of Foreign Direct Investment (FDI) in 2021, which reflects the confidence...
  • Minister of Economy Abdullah bin Touq Al Marri said the UAE ranked first in the MENA region and 15th globally on AT Kearney's FDI Confidence Index 2021.
  • UAE FDIs in Kyrgyzstan amounted to $12 million, making Emiratis among the top 20 foreign investor groups in the country.
Economy

UAE economic growth in 2022 to reach 4.7 percent driven by oil and non oil sectors, says World Bank

UAE economy to improve in 2022 as the country's financial reserves reflect solid growth, a strong financial system and resilient...
  • The UAE in 2022 is keen on increasing the competitiveness of the private sector, said the Economic Advisor, Ministry of Economy.
  • The UAE government launched an economic stimulus package of AED 388 billion, said a senior official of the Ministry of Economy.
Economy

One out of three Islamic Development Bank member living in poverty

President of the bank Dr Muhammed Al-Jasser, who was speaking at the 16th World Bank Forum, on Islamic Finance, said...
  • The Forum themed “Poverty Reduction Through Social Innovation and Entrepreneurship” was held on the sidelines of the IDB group's annual meeting in Sharm El-Sheikh.
  • The fight against poverty has always been at the forefront of the objectives of the bank's partnerships with member states and various institutions, Al-Jasser said.

Saudi women’s unemployment drops to 13.7% by 4Q 2023

Riyadh, Saudi Arabia - The unemployment rate among Saudi women witnessed a historic decline, plummeting to 13.7 percent in the...
Economy

Company News

Latest News

Grain deal in focus as Putin, Erdogan all set to meet

MOSCOW, RUSSIA - Russian President Vladimir Putin will host his Turkish counterpart Recep Tayyip Erdogan on Monday, the Kremlin said, amid...
Geostrategy

Iran’s non-oil export to ECO countries from Mar 21 to July 22 2023 reaches $3.6bn

TEHRAN, IRAN  – Iran’s export of non-oil products to the Economic Cooperation Organization (ECO) member states in the first four...
Geostrategy

Qatar’s Q2 2023 budget posts record surplus of US$2.7bn

DOHA, QATAR - The Ministry of Finance announced that the budget of Qatar for the second quarter of the year...
Economy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Geostrategy

UAE, New Zealand discuss economic cooperation, free trade pact

DUBAI, UAE – Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade discussed deeper economic collaboration,...
  • The UAE and New Zealand already share a productive trade relationship, with non-oil trade reaching US$805 million in 2022.
  • UAE is New Zealand's leading trading partner in the Arab World, accounting for 2.5 percent of Wellington’s total foreign trade.
Economy

At 5%, Middle East has highest GDP share from tourism: report

Dubai, UAE - The Middle East has seen the strongest rebound in the post-pandemic global tourism recovery, according to a...
  • Saudi Arabia and Türkiye recorded almost pre-pandemic levels of tourist arrivals in Q1 2023
  • Asia Pacific is second, with over 4 percent of the region’s GDP coming from tourism
Business

Abu Dhabi to unveil one of world’s biggest airport terminal

Dubai, UAE - An airport terminal able to handle up to 45 million passengers a year will open in Abu Dhabi...
  • Terminal A in the Abu Dhabi airport will be able to accommodate 11,000 travelers per hour and 79 aircraft at a time.
  • The new facility, also known as Midfield Terminal Building, "is scheduled to begin operations in early November 2023", local media said.