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.

Jordan exports pharmaceutical products worth US$874m in 2023

AMMAN, JORDAN – Products of the Kingdom’s pharmaceutical industries and medical supplies sector moved over the past quarter century to...

Business

TAQA, JERA sign pact with SATORP to develop plant in Saudi Arabia 

ABU DHABI, UAE – Abu Dhabi National Energy Company (TAQA), together with JERA Co., Inc on Thursday announced that they...

Business
Economy

UAE, Kyrgyzstan deepening economic cooperation: Al Marri

Al Marri said that the non-oil trade exchange between the two countries was valued at over US$828 million in 2021.
  • Al Marri said that the non-oil trade exchange between the two countries was valued at over US$828 million in 2021
  • The UAE accounts for 98 percent of Kyrgyzstan’s total trade with the Gulf Cooperation Council
Economy

Jordan ranks first in Arab world on budget transparency survey

Jordan ranked first in the Arab world and 32nd globally on the budget transparency, according to the Open Budget Survey...
  • Georgia ranked first, South Africa second and Sweden third on the list.
  • Only 31 percent of countries provide sufficiently detailed information to understand how their budget addresses poverty.
Business

Iraq to France: Ready to supply European markets oil

Iraq's State Organization for Marketing of Oil (SOMO) has said it approached France about the possibility of Iraq's supplying the...
  • About 60 percent of Russia's exports of crude oil go to the European continent, but in the shadow of Ukraine war, it will need new suppliers.
  • Italian Prime Minister Mario Draghi recently visited gas powerhouse Algeria as Rome steps up efforts to reduce its heavy reliance on Russian energy imports.
Arts & Culture

Disney+ releases a sneak peek at the content line up for MENA region

Disney+ has finally unveiled an extensive sneak peek at the line-up for the Middle East and North Africa (MENA).
  • Disney+ has finally unveiled an extensive sneak peek at the line-up for the Middle East and North Africa (MENA)
  • Disney+ is the dedicated streaming home for movies and shows from Disney, Pixar, Marvel, Star Wars, and National Geographic, along with The Simpsons and much more
Economy

Morocco battles effects of climate change

A withering drought and poor harvests plus price hikes fueled by the war in Ukraine are threatening Morocco's fragile economic...
  • The North African kingdom had bounced back last year after a sharp recession in 2020 due to the coronavirus pandemic
  • The International Monetary Fund has forecast even lower growth of 1.1 percent
Economy

Saudi central bank net foreign assets climb by $1.07bn in April

The net foreign assets of Saudi central bank rose by SR4.0 billion ($1.07 billion) to SR1.63 trillion in April, according...
  • The kingdom's net foreign assets increased by 0.2 percent from SR1.63 trillion in March
  • Over the same period, the central bank's total assets fell by SR39.4 billion to SR1.85 trillion
Business

UAE, Saudi Arabia set new halal economy goals for GCC

Beside halal food business, Islamic banking holds the largest share of the Sharia-compliant industry, says Nik Joharris Nik Ahmad, country...
  • The expansion of the global halal industry has resulted in a steady increase in its market size from $3.2 trillion in 2014 to $5.6 trillion in 2021
  • Stringent regulatory norms, including mandatory halal labeling and certification rules for food and beverages, are propelling the market growth
Economy

Jordan’s oil expenditure up by nearly 50 percent in Q1 2022

Jordan's oil bill went up by 49.1 percent in Q1 2022, compared to the same period in 2021, the Department...
  • The value of the oil bill in Q1 2022 increased to JD761 million compared to JD510 million in the same period of 2021.
  • Jordan’s crude oil import amounted to JD126 million, followed by gasoline with JD142 million and kerosene with JD9 million.
Economy

Germany inflation highest in 50 years as energy, foodstuff prices rise

Germany hit the highest level of inflation in 50 years due to a rise in the cost of living, energy,...
  • The data provided by the Federal Statistical Office of Germany indicate that levels of inflation reached 7.9 percent in May 2022.
  • The Federal Statistical Office of Germany blamed the war in Ukraine and the rise in oil prices for hitting this record high inflation.
Business

Saudi Arabia, Seychelles to expand cooperation in tourism sector

Saudi Arabia and Seychelles will form a partnership to boost cooperation and exchange expertize in tourism sector which includes planning,...
  • Saudi’s tourism ministry signed an MoU with the Ministry of Foreign Affairs and Tourism of Seychelles.
  • The MoU aims at supporting the efforts of tourism institutions and associations via holding conferences.

Jordan exports pharmaceutical products worth US$874m in 2023

AMMAN, JORDAN – Products of the Kingdom’s pharmaceutical industries and medical supplies sector moved over the past quarter century to...
Business

Company News

Latest News

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

Most Read

Business

UAE industrial, business sectors see 4% rise in cumulative credit balance by H1 2023

ABU DHABI, UAE - Credit facilities provided by national banks to the business and industrial sectors rose by US$7.7 billion...
  • Credit facilities by national banks to business, industrial sectors in UAE rose by US$7.7 billion in H1 2023.
  • As per CBUAE’s figures the two sectors saw a 4 percent rise in cumulative credit balance to US$203 billion by the end of June 2023.
Business

Global construction industry projected to reach $12.9 trillion by 2028

Dubai, UAE -- The global construction industry is projected to reach a staggering $12.9 trillion by 2028, with a robust...
  • The study says residential construction will continue to dominate, driven by rising per capita income and disposable income.
  • The Asia Pacific region is poised to retain its leadership position, attributed to increasing urbanization and robust infrastructural development.
Economy

Eurozone inflation unchanged at 5.3% in Aug as energy prices drop

Brussels, Belgium - The annual rate of inflation in the eurozone remained unchanged in August as there was a smaller drop...
  • Consumer prices reached 5.3 percent in August, although there was also a slowdown in the rise of food and drinks costs.
  • Core inflation, which strips out volatile energy, food, alcohol and tobacco prices, was down slightly to 5.3 percent in August.