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 tourism hits record $36 billion inbound spending in 2023

Riyadh, Saudi Arabia - Saudi Arabia's tourism sector contributed to a record-breaking $36 (SR135 billion) in spending by international visitors....

Economy

Abu Dhabi Chamber sets up working group to support startups, SMEs

ABU DHABI, UAE – The Abu Dhabi Chamber of Commerce and Industry (ADCCI) has formed a working group specifically for...

Business
Economy

IsDB’s Lives and Livelihood Fund provides $1.5bn to 33 member states

Abu Dhabi Fund for Development (ADFD), is one of LLF's key donor partners on this innovative initiative.
  • Abu Dhabi Fund for Development (ADFD), is one of LLF's key donor partners on this innovative initiative
  • The IsDB and development cooperation partners launched a US$2.5 billion LLF in 2016 with a joint vision to raise the poorest out of poverty
Economy

Morocco launches agency to regulate medicinal cannabis

Morocco's national regulatory agency overseeing the use of cannabis for medical use met for the first time Thursday in one...
  • Chaired by Interior Minister Abdelouafi Laftit, the "National Agency for the Regulation of Cannabis Activities" approved its organisation chart and budget for the year 2022
  • The agency will be responsible for controlling all stages of the production chain, from the import of seeds to the marketing of cannabis products
Economy

OPEC to boost oil production as prices surge and EU bans Russian imports

Major oil producers led by Saudi Arabia and Russia on Thursday decided to open taps wider than expected amid soaring...
  • Analysts had expected OPEC+ producers to stick to their policy of modest output increases, as they have done since May 2021.
  • OPEC+ drastically slashed output in 2020 as demand slumped when the world locked down under the coronavirus pandemic.
Economy

Qatar launches Advanced Manufacturing Hub in partnership with WEF

The cooperation seeks to transform Qatar into an advanced economic and industrial hub by enhancing its international connections network.
  • The cooperation seeks to transform Qatar into an advanced economic and industrial hub by enhancing its international connections network
  • Qatar's AMHUB is one of 13 platforms that were launched by WEF all over the world whose aim is to enhance the future of the industrial sector internationally
Business

Demand for garments, footwear stagnant in Jordan

Asaad Qawasmi, the Jordan Chamber of Commerce's representative for the apparel, fabrics, footwear, and jewelry sector, said that demand has...
  • Asaad Qawasmi, the Jordan Chamber of Commerce's representative for the apparel, fabrics, footwear, and jewelry sector, said that demand has plateaued since the Eid Al-Fitr
  • He expressed optimism that the market was expected to improve in about three weeks from now with the return of expats and visitors for the summer break
Arts & Culture

In Iraq, black community still on the margins

Centered in the city of Zubair, near Basra in the far south of Iraq, the community has its origins in...
  • Centered in the city of Zubair, near Basra in the far south of Iraq, the community has its origins in East Africa
  • While activists denounce the community's marginalization, talk of racism or discrimination offends Zubair's inhabitants
Economy

Russians prepare for hardships as sanctions begin to hit

With billions of dollars in financial reserves and money still coming in from oil and gas exports, Russia has yet...
  • Russians citizens are reporting a litany of problems, including shortages of everything from paper to medicine due to the European sanction imposed on Moscow
  • Direct air links with Europe have been severed and Russian citizens are unable to use their bank cards abroad
Economy

Jordan extends reduction of general tax for vegetable oils

The decision to bring some relief to people follows in light of the high prices of vegetable oils globally.
  • The decision to bring some relief to people follows in light of the high prices of vegetable oils globally
  • The country also approved the integrated industrial partnership initiative for sustainable economic development signed between Jordan, the UAE and Egypt
Economy

Jordan’s Petra sees 86,000 visitors in May 2022

The figures showed that 60,640 of the visitors were of foreign nationalities, while 25,670 were of Arab and Jordanian nationalities.
  • The figures showed that 60,640 people of visitors were of foreign nationalities, while 25,670 were of Arab and Jordanian nationalities
  • In comparison, a total of 87,622 people visited the city in May 2019, 81,268 of which were foreigners and 4,873 were Arabs and Jordanians
Economy

OPEC debates oil output boost amid Russian isolation

Major oil producers led by Saudi Arabia and Russia hold talks Thursday on whether to adjust output, hard on the...
  • The 13 members of the OPEC, chaired by Saudi Arabia, and their 10 partners, led by Russia, drastically slashed output in 2020
  • They have increased output modestly to the tune of around 400,000 barrels per day each month since last year

Saudi tourism hits record $36 billion inbound spending in 2023

Riyadh, Saudi Arabia - Saudi Arabia's tourism sector contributed to a record-breaking $36 (SR135 billion) in spending by international visitors....
Economy

Company News

Latest News

Agri-Nutrients SABIC, US firms together support sustainable farming

RIYADH, SAUDI ARABIA -  Agri-Nutrients SABIC, in cooperation with the American companies ADM and BiOWiSH has helped farmers achieve high...
Business

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,...
Geostrategy

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...
Economy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Business

Moody’s lowers Country Garden credit ratings

Beijing, China - Moody's further downgraded the credit ratings of Chinese property developer Country Garden on Thursday as the heavily indebted...
  • Moody's said it had cut Country Garden from Caa1 to Ca, indicating obligations that are "highly speculative and are likely in, or very near, default"
  • The Chinese firm is estimated to "not have sufficient internal cash sources to address its upcoming offshore bond maturity", according to Moody's
Business

Bitay to expand in UAE’s burgeoning crypto market

DUBAI, UAE –   Bitay, a cryptocurrency platform from Turkey, announced its expansion into the UAE's burgeoning crypto market. The UAE,...
  • Kickstarted by a government research grant, Bitay has been operational in Turkey since 2018 and expanded its services globally in 2021.
  • The platform is licensed as a Money Services Business (MSB) in 16 US states and offers services in multiple countries.
Economy

UAE economy expected to grow by 3.5 percent in 2023, says UBS

ABU DHABI, UAE - Chief Investment Officer, Emerging Markets at UBS Global Wealth Management Michael Bolliger forecasts the UAE's gross...
  • The bank's positive outlook on the UAE’s medium-term growth prospects is supported by strong demand for its oil exports and energy investments.
  • The bank also expects a strong 4.5 percent expansion for the non-energy part of the economy for this year.