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.

Dubai, Abu Dhabi real estate market thrives in Q1 2024

“2024 has opened up to an interesting and promising phase of growth within our sector. As proptech leaders, we can...

Economy

Saudi Arabia offers 6 mining opportunities for local, international investors

Riyadh, Saudi Arabia - The Saudi Ministry of Industry and Mineral Resources on Wednesday announced six new mining opportunities for...

Economy
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
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.

Dubai, Abu Dhabi real estate market thrives in Q1 2024

“2024 has opened up to an interesting and promising phase of growth within our sector. As proptech leaders, we can...
Economy

Company News

Latest News

Iraq-Iran rail link to facilitate travel, tourism and medical treatments

Iraq's prime minister inaugurated construction work on what is slated to become the first railway line connecting the country to...
Geostrategy

Iraqi Trade Center to be launched at ACC’s headquarters in Jordan

AMMAN, JORDAN - Amman Chamber of Commerce (ACC) and the Iraqi Embassy here agreed to open Iraqi Trade Center at...
Business

Leather, knitwear industries contribute 2.4% to GDP, says JCI

AMMAN, JORDAN - Representative of the leather industries and knitting sector at Jordan Chamber of Industry (JCI), Ehab Qadri, said...
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Economy

Iran reports 15% surge in gasoline output

Tehran, Iran - Iran has reported a 15% surge in its gasoline output this year compared to last year. The...
  • The Persian Gulf Star Oil Refinery is supplying 4 million liters per day of gasoline derivatives to other refineries to help meet the rising demand
  • Iran's daily average demand for gasoline exceeds 120 million liters, and on peak travel days, consumption reaches nearly 150 million liters
Economy

Qatari economy records 2.7% growth in Q1 2023

Doha, Qatar – The Qatari economy has reported a growth rate of 2.7 percent during the first quarter of 2023...
  • When compared to the revised estimates for the fourth quarter of 2022, which were $48.61 billion, there was a 3.9 percent decrease in the GDP
  • The nominal gross value added tax estimates for mining and quarrying activities at current prices in the first quarter of 2023 reached $22.09 billion
Business

DFM registers 34,800 new accounts in 8 months

Dubai, UAE - Brokerage firms in the Dubai Financial Market (DFM) witnessed a substantial influx of New Investor Numbers (NIN),...
  • The number of newly registered investor accounts exceeded 51 percent during the first eight months of the year
  • 29 brokerage firms listed on the DFM conducted over 2.57 million deals on 80 billion shares worth $37.1 billion