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.

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

GCC tourism growth skyrockets as diversification drive gains momentum post-Covid

GCC countries collaborate on comprehensive tourism strategy, leading global recovery post-pandemic with remarkable growth rates and ambitious plans for sustainable...

Economy
Business

ADNOC partners with BP, Masdar

The three firms will create green hydrogen and sustainable aviation fuel.
  • ADNOC and BP will begin the design phase of the H2Teesside low-carbon hydrogen project.
  • Cooperation agreements related to BP's HyGreen Teesside, a large-scale green hydrogen production facility in UK.
Economy

Global issues slowing down labor market recovery: ILO

Labor incomes have not yet recovered for the majority of workers. In 2021, three in five workers lived in countries...
  • The sharp rise in vacancies in advanced economies led to a tightening of labor markets with a growing number of jobs available relative to job seekers.
  • But, it dropped in Q1 2022 to 3.8 percent below pre crisis benchmark (Q4 2019), amounting to a deficit of 112 million full-time jobs.
Economy

To use rather than collect, the second coming of Non-Fungible Tokens

The non-fungible token (NFT) craze, just over a year old, has given the world works that have sold for millions...
  • Tens of billions of dollars have been poured into digital assets market, while also provoking discussions about how they could be useful in the real world.
  • Regardless, NFTs, in conjunction with growing interest in the metaverse and a decentralized vision for the internet's future, dubbed web3, are part of building wave of growth.
Business

SRTI Park launches Advanced Industry Accelerator 2.0

The accelerator programme will provided local and regional start-ups with innovative solutions and strong support system within the thriving SRTI...
  • The accelerator programme will provided local and regional start-ups with innovative solutions and strong support system within the thriving SRTI Park ecosystem
  • SAIA 2.0 is also in line with the UAE’s industrial strategy 'Operation 300bn', a 10-year comprehensive policy aimed at empowering and expanding the industrial sector
Business

‘Digitization transforming Islamic banking in GCC’

The use of CX capabilities, digital media, predictive analytics can help banks develop personalized Shariah-compliant services, says Dubai Islamic Bank...
  • The use of CX capabilities, digital media, and predictive insights and analytics can help banks develop personalized Shariah-compliant services, says Group CEO Dubai Islamic Bank
  • Islamic banks partnering across the digital economy through open banking can widen choice by creating new and incredibly exciting financial and non-financial services, he adds

Young Lebanese voters shake grip of traditional parties

The Iran-backed Shiite Hezbollah group and its allies fell just short of the 65 seats needed to control the 128-seat...
  • The Iran-backed Shiite Hezbollah group and its allies fell just short of the 65 seats needed to control the 128-seat parliament
  • Lebanon shares power among its 18 recognised religious communities, and politics are often treated as a family business
Economy

Algeria president sacks central bank chief

Algerian President Abdelmadjid Tebboune on Monday sacked central bank chief Rostom Fadli, in office for less than two years, the...
  • Fadli had taken office in June 2020 as interim head of the central bank of Africa's fourth-biggest economy, later being confirmed in the role
  • Algeria is a rentier economy dependent on oil exports for 90 percent of its foreign income, and therefore vulnerable to price movements
Economy

Digitization to see more GCC women enter workforce

Although the number of female STEM graduates is high in GCC, this couldn't translate into proportionate increase in workforce, says...
  • GCC is witnessing a rise in recruitment of women and more knowledge sharing between companies to ensure women are supported throughout their careers, Harb said.
  • Digitalization would help organizations that invest in digital tools to hire and retain diverse talent and besides supporting women's active participation in the workplace.
Economy

‘Central bank digital currencies can transform financial system’

More countries are experimenting with CBDCs and some are beginning to bring them to market, potentially offering lessons for the...
  • More countries are experimenting with CBDCs and some are beginning to bring them to market, potentially offering lessons for the rest of the world
  • Some of the questions that were debated included the macroeconomic and geopolitical implications surrounding the roll-out of CBDCs
Economy

Sri Lanka inflation hit seventh consecutive record high in April

Hammered by a foreign exchange crisis, the country's 22 million people have been enduring acute shortages of essentials.
  • National Consumer Price Index rose 33.8 percent year-on-year in April, more than six times the 5.5 percent inflation in 2021.
  • Inflation is likely to rise further in May as fuel price hikes of 35 percent for petrol and 65 percent for diesel.

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

Company News

Latest News

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

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...
Economy

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

Most Read

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.
Economy

Qatar’s Producer Price Index of industrial sector dips 0.22% in July

Doha, Qatar--Planning and Statistics Authority (PSA) of Qatar has released the new monthly Producer Price Index (PPI) of the Industrial...
  • According to data, chemicals and chemical products prices decreased by 1.31 percent, followed by food products which fell by 0.76 percent
  • There was a dip in the prices of utilities like electricity, gas, steam, and air conditioning supply by 2.58 percent compared to June 2023
Geostrategy

Turkey to ask Russia to resume grain deal in original form

According to TASS, quoting a diplomatic source, Turkey's Foreign Minister Hakan Fidan will propose to Russia at the upcoming talks...
  • The diplomatic sourced quoted by TASS said that Turkey views the grain corridor as the most efficient and safe
  • He further said the deal if resumed in original format can prevent the expansion of the Ukranian conflcit into the Black Sea