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.

Russia becomes world’s fourth-biggest LNG producer, says PM

MOSCOW, RUSSIA – Prime Minister Mikhail Mishustin said the country became the world’s fourth-biggest LNG producer last year. The Russian...

Business

Gross written premium rises by 12.7% in Q4 2023 to US$14bn, says CBUAE

ABU DHABI, UAE - The UAE insurance sector continued to grow in Q4 2023, as reflected by the increase in...

Economy
Economy

Saudi Arabia elected head of ICAO’s Regional Aviation Safety Group

The election took place during the ninth session of the group’s meetings hosted in Riyadh from February 14-17.
  • The election took place during the ninth session of the group’s meetings hosted in Riyadh from February 14-17
  • The Middle East Regional Aviation Safety Group (RASG-MID) aims to develop an integrated data-driven strategy
Economy

Dubai Customs launches ‘Training Doses’ initiative

The initiative will also help in consolidating controls and combat all customs violations, including smuggling.
  • The initiative will also help in consolidating controls and combat all customs violations, including smuggling
  • The Training Doses initiative is in line with Dubai Customs’ strategic plan, which focuses on developing human cadres
Economy

Egypt raises overnight interest rates to tame inflation

In order to tame soaring prices in the country, the Central Bank of Egypt has raised its overnight interest rates...
  • The bank’s Monetary Policy Committee increased the deposit rate to 11.25 percent from 9.25 percent and the lending rate to 12.25 percent from 10.25 percent
  • Prices were pushed up in part by a currency depreciation and higher wheat prices after the Ukraine crisis, the statement added
Business

Smart money is in video games, Web3: Futurist at TOP CEO event

Raford contended that people should invest in video games, as it is the only successful digital economy so far.
  • Raford contended that people should invest in video games, as it is the only successful digital economy so far
  • The metaverse, he said, has extraordinary potential and Dubai is moving rapidly to take advantage of it
Economy

China to cut key interest rate as it seeks to boost economy

China on Friday announced it would cut a key interest rate as the country fights to boost its virus-hit economy...
  • The five-year loan prime rate (LPR) is 4.45 percent," China's central bank said on Friday
  • The one-year loan prime rate, which guides how much interest commercial banks charge to corporate borrowers, remained unchanged at 3.7 percent

UAE tourism sector set new record in Q1 2022 : Tourism Minister

Tourism is deemed one of the future sectors and a key focus area in the UAE’s development vision for the...
  • According to tourism figures for Q1 2022, the country's hotel establishments attracted nearly 6 million visitors
  • The average duration of hotel guest stays reached 25 percent during the same period, up from 3 nights to 4 nights
Business

UAE and Turkey export credit agencies to enhance trade ties

Etihad Credit Insurance (ECI), the UAE Federal export credit company, has signed a Memorandum of Understanding (MoU) with Turkey’s export...
  • The two export credit agencies will work together to facilitate trade and export and ease access to credit insurance and project financing, ECI said in a statement.
  • Turkey is the UAE’s seventh-largest trading partner, with the non-oil trade between the two reaching AED 49.4 billion.
Economy

All work-related leaves in UAE fall under contribution period: GPSSA

Government sector employers are mandated to bear full contributions due from the insured in cases where he/she is accompanying a...
  • The responsibility to pay contributions due by insured individuals varies depending on the reason for the leave granted by their employers.
  • Both the insured and the employer bear their share of contributions according to what the law has determined in the case of a paid leave.
Business

UAE-Germany non-oil trade 10.5 percent to $9.5 billion in 2021

The non-oil trade between Germany and the UAE amounted to $9.5 billion during 2021, a 10.5 percent increase compared to...
  • "Our economies are both very much geared for the possibilities of the future," Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade
  • Al Zeyoudi said that Germany has become UAE's most important trading partner in the Middle East.
Economy

‘Lifeline’ of renewable energy can steer world out of climate crisis: UN chief

"We must end fossil fuel pollution and accelerate the renewable energy transition before we incinerate our only home," Secretary-General António...
  • "We must end fossil fuel pollution and accelerate the renewable energy transition before we incinerate our only home," Secretary-General António Guterres said
  • Guterres called for a new global coalition led by governments and bringing together tech companies, manufacturers and financiers to fast-track innovation and deployment

Russia becomes world’s fourth-biggest LNG producer, says PM

MOSCOW, RUSSIA – Prime Minister Mikhail Mishustin said the country became the world’s fourth-biggest LNG producer last year. The Russian...
Business

Company News

Latest News

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,...
Economy

UAE first half non-oil foreign trade hits all-time high of $337 billion

The results are buoyed by record non-oil exports, which reached AED 205 billion in H1 2023, an 11.9 percent growth...
Business

Equities extend gains on US jobs data, China rate cut hopes

The mood was brightened by a report that China's biggest state-backed banks would slash rates on mortgages and deposits as...
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Business

Oil companies pay Insta, TikTok influencers for ads

Online celebrities best known for posting about video games are also dropping in unexpected plugs for gasoline stations, fuel rewards...
  • Analysts say companies are targeting young people on social media to shore up their oil and gas-based business even as countries seek cleaner alternatives to limit global warming
  • One gamer, who has 178,000 followers for her @chica account on Instagram, drew sighs of dismay with a recent post showcasing a new Shell-sponsored feature in video game Fortnite
Economy

Riyadh to host Expo Expo, held for first time outside of US

Riyadh, Saudi Arabia - Riyadh is set to host the exhibition and conference industry show Expo Expo MENA on September...
  • Expo Expo MENA will feature over 100 exhibitors specializing in the field of presentations and conferences from various countries around the world
  • With its first Middle Eastern edition, the event offers the opportunity for international decision-makers in the industry to convene in Riyadh
Economy

Exclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economy

In the GCC, online market growth surpasses offline, driven significantly by Saudi Arabia, amid intense competition where local brands increasingly...
  • In the MENA region, customers are enticed by augmented reality games with tangible rewards, as the digital economy rises and brands innovate to meet growing expectations
  • In an intensifying market, customers' multi-channel interactions offer brands crucial CX strategy insights, reflecting the escalating expectations they have from merchants