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.

Gold hits fresh record above $2,300 as Fed hints at easing monetary policy

On Thursday, bullion touched $2,304.96 per ounce, according to Bloomberg News, after Fed boss Jerome Powell said it would likely...

SAMA: E-payments share reached 70% of total payments in 2023

Riyadh, Saudi Arabia -- The Saudi Central Bank (SAMA) announced on Monday that the share of retail consumer electronic payments...

Economy
Business

Dubai Chamber of Commerce reports 55% membership growth in April 2022

The new member companies joining Dubai Chamber of Commerce in April 2022 reached 3,056, bringing the Chamber's total membership to...
  • The new member companies joining Dubai Chamber of Commerce in April 2022 reached 3,056, bringing the Chamber's total membership to 300,000 companies
  • The value of members' exports and re-exports in April 2022 amounted to AED20.2 billion, growing by 16.7 percent from the AED17.3 billion posted in April 2021
Business

Iran signs multiple trade deals with Oman during president’s visit

A delegation of 50 Iranian businessmen travelled to Oman last week, with Iran's minister for roads and urban development announcing...
  • Both the countries signed 12 memoranda of understanding including in the fields of oil and gas.
  • Oman is seeking to import gas from Iran by building an offshore pipeline between the two countries.
Economy

Saudi announces weekly international flights to NEOM megacity

Saudi Arabia's main airline will next month start operating weekly international flights from the kingdom's planned futuristic megacity known as...
  • The $500 billion Red Sea project is part of de facto ruler Crown Prince Mohammed bin Salman's Vision 2030 plan to diversify Saudi Arabia's oil-dependent economy
  • It has been billed as a futuristic cityscape evocative of a sci-fi blockbuster with everything from flying taxis to robot maids
Economy

Global ESG assets could reach $50 trillion by 2025 : PIF Governor

Global environmental, social, and governance assets are expected to hit $41 trillion by the end of this year, and $50...
  • PIF is developing its ESG strategy due to its broader long term strategy aimed at achieving net zero emissions in the country by 2060.
  • The PIF governor also revealed that Saudi Arabia has launched seven solar and wind projects that could power 600,000 households.
Economy

56% decline in traffic accident deaths in Q1 of 2022: Sharjah Police

The Director of Traffic and Patrols Department of Sharjah Police (SP), Lt. Col. Mohammed Alai Al Naqbi attributed the success...
  • The Director of Traffic and Patrols Department of Sharjah Police (SP), Lt. Col. Mohammed Alai Al Naqbi attributed the success to traffic campaigns
  • He explained that the "Be careful and drive with caution" campaign, which was launched in February 2022, showed a decrease in the road fatality rate
Business

13 countries to join new Asia-Pacific trade framework: Biden

"The US and Japan, together with 11 other nations will be launching" the Indo-Pacific Economic Framework for Prosperity, Biden said...
  • Joe Biden will make a formal rollout of IPEF later Monday with 13 countries joining the initiative which aims to offer US allies an alternative to China in Asia-Pacific
  • China has criticized IPEF as an attempt to create a closed club. Biden's national security advisor rejected the claim saying that, "it is an open platform"
Economy

More than 100 million people forcibly displaced: UN

Russia's war in Ukraine has pushed the number of forcibly displaced people around the world above 100 million for the...
  • UNHCR said the numbers of forcibly displaced people rose towards 90 million by the end of 2021
  • The figures combine refugees, asylum-seekers, as well as more than 50 million people displaced inside their own countries
Geostrategy

WEF: UAE eyes end to global hunger through innovation

Beside the UAE, other GCC countries that have sent delegations to the Davos forum include Saudi Arabia, Qatar, Bahrain and...
  • Beside UAE, the other GCC countries that have sent delegations to the World Economic Forum include Saudi Arabia, Bahrain and Qatar to put their perspectives on contemporary issues.
  • The forum’s first in-person Annual Meeting in more than two years is being attended by the world’s top leaders from politics, business, civil society, academia, media and the arts.
Business

Sharjah Consultative Council reviews plans to promote private sector

The Financial, Economic and Industrial Affairs Committee of the Sharjah Consultative Council (SCC) reviewed its strategic plans to promote the...
  • Saif Mohammed Al Midfa, Chairman of the Council’s Financial, Economic and Industrial Affairs Committee, praised exhibition industry's achievements.
  • He said the council looked forward to enhancing the reputation of Sharjah as a regional hub for prospective investments.
Economy

UAE unveils major structural change in educational system; appoints new ministers

Under the directives of President Sheikh Mohamed bin Zayed Al Nahyan, Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime...
  • Ahmad Belhoul Al Falasi has been appointed as the UAE's Minister of Education
  • The new structure in the education sector includes the Education and Human Resources Council, Federal Authority for Quality of Education and Ministry of Education

Gold hits fresh record above $2,300 as Fed hints at easing monetary policy

On Thursday, bullion touched $2,304.96 per ounce, according to Bloomberg News, after Fed boss Jerome Powell said it would likely...

Company News

Latest News

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...
Business

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

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Economy

CEPA boosts UAE’s trade ties with key global players

“The country's foreign trade will continue to thrive due to these CEPAs. Agreements with Türkiye and Indonesia are slated for...
  • CEPA agreements with India and Israel have boosted trade, with new deals involving Türkiye and Indonesia coming in September
  • The UAE targets doubling its GDP by emphasizing innovation, advanced technologies, and expanding global service exports in trade

565 companies involved in ‘fake Emiratisation’ cases: UAE ministry

Dubai, UAE - The Ministry of Human Resources and Emiratisation (MoHRE) revealed that 565 companies were proven to have hired...
  • The private sector now employs over 81,000 nationals, representing the highest level of Emiratization in the country's history
  • The ministry has ceased Nafis payments from nationals proven to have been involved in fake Emiratisation and recovered previous financial support
Economy

Second quarter GDP growth in US 2.1%, weaker than earlier estimates

Washington, United States - Economic growth in the United States was weaker than first estimated for the April to June period,...
  • GDP growth in the world's biggest economy came in at 2.1 percent for the second quarter, down from the initial estimate of 2.4 percent.
  • Economists have been warning of a possible downturn as the US central bank rapidly lifted interest rates to tamp down demand and lower inflation.