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.

Aramco CEO highlights collaboration with Beijing at forum in China

AL-DHAHRAN, SAUDI ARABIA – Aramco President and CEO Amin Nasser outlined the potential for stronger collaboration with Chinese partners in...

Business

IOTA Foundation launches US$10m investment fund at Investopia 2024

ABU DHABI, UAE – Minister of Economy and Chairman of Investopia Abdullah bin Touq Al Marri attended the unveiling of...

Business
Economy

US nears 1m Covid dead, as New York seeks to move on

America recorded its first coronavirus death, on the West Coast, in early February 2020. By the next month, the virus...
  • The US has recorded a rise in the number of daily virus cases in recent weeks due to the new Omicron subvariant and the lifting of mask mandates
  • Ideological clashes in public over curfews, mask mandate, and vaccine mandates resulted in the country hitting the highest death toll in the world
Geostrategy

Russia slaps sanctions on Western energy firms

The sanctions include a ban on transactions and the entry into Russian ports of vessels linked to the affected companies.
  • The sanctions target 31 companies, most belonging to the Gazprom Germania group of subsidiaries of Gazprom
  • The sanctions also affect Poland's EuRoPol GAZ SA, the owner of the Polish part of the Yamal-Europe gas pipeline
Economy

Abu Dhabi’s non-oil foreign trade in Q1 grows by 15 percent to $16.74 billion

Abu Dhabi’s non-oil foreign trade in the first quarter (Q1) of 2022 amounted to AED61.522 billion ($16.74 billion), a 15...
  • Exports grew by 35 percent in the first three months of the year compared to the same period of last year  to reach AED24.449 billion.
  • Saudi Arabia accounted for the largest share of total trade of 23 percent, valued at AED13.921 billion.
Economy

US inflation may have peaked, but pain continues

With surging prices undermining wage gains and hurting American families, US President Joe Biden said Tuesday that fighting inflation is...
  • Biden blame Russian invasion on Ukraine for the recent spike in price in US saying that "taking inflation very seriously"
  • US consumer prices jumped 8.5% in the 12 months that ended in March, rate is likely to remain high for months to come
Economy

Lebanon: small, multi-religious Mideast country

Lebanon is going through a severe economic crisis, described by the World Bank as one of the world's worst since...
  • Lebanon is going through a severe economic crisis, described by the World Bank as one of the world's worst since the 1850s
  • Lebanon's population of around 4.5 million is dwarfed by its diaspora, spread across the Americas, Europe, Africa and Australia
Business

ADQ to fund investments worth more than $4 billion in Greece

ADQ will work with the Hellenic Development Bank (HDB), the national development bank of Greece, and Hellenic Development Bank of...
  • In 2021, the value of non-oil foreign trade between the UAE and Greece reached nearly AED 2.1 billion.
  • The growth of trade, when compared to 2020, was 67 percent, reflecting a significant spike in growth.
Business

Nintendo profits rise as demand booms

The rise is also attributed to the popularity of the Switch.
  • The company, which has benefited from a string of popular titles including "Pokemon Legends: Arceus", posted a 2021-22 net profit of 477.7 billion yen.
  • Uncertainties linked to the global chip shortage and potential production and transport delays caused by Covid-19 lockdowns could hit future profits.
Economy

Food delivery drivers launch rare strike in UAE, demand pay rise

Food delivery drivers in the UAE went on strike Tuesday to demand better pay, the second such incident this month...
  • Many workers for Talabat, part of Germany's Delivery Hero, did not show up for their shifts, calling for a pay increase amid the global rise in fuel prices.
  • The latest protest comes after drivers for Deliveroo, another popular food delivery app, went on strike earlier this month after company plans to cut their pay.
Economy

Clean sources transformed UAE energy sector in a decade: ENEC chief

The UAE has proactively invested in proven clean energy and within a decade, solar and peaceful nuclear energy have delivered...
  • Barakah Nuclear Plant is now generating 2.8 Gigawatts of electricity, making it the largest source of clean electricity in the country.
  • With all four reactors online, nuclear energy will meet 25 percent of the UAE’s electricity demand.
Geostrategy

Red Cross chief Mardini on Iran visit talks Afghans’ plight

More than one million Afghans have sought refuge in Iran since the Taliban returned to power in August, according to...
  • More than one million Afghans have sought refuge in Iran since the Taliban returned to power in August, according to Iran's state news agency IRNA
  • Thousands of Afghans daily try to cross into neighboring Iran in search of work, or in a bid to reach Europe in the hope of asylum

Aramco CEO highlights collaboration with Beijing at forum in China

AL-DHAHRAN, SAUDI ARABIA – Aramco President and CEO Amin Nasser outlined the potential for stronger collaboration with Chinese partners in...
Business

Company News

Latest News

Jordan oil bill falls in H1 2023 compared to H1 2022, says government

AMMAN, JORDAN  - The value of the Kingdom's oil bill decreased during the first half of 2023 by 15.6 percent,...
Economy

Saudi Arabia’s foreign trade rises to $172bn in a year

Riyadh, Saudi Arabia - Saudi Arabia’s foreign trade soared to $172 billion last year, the Saudi Minister of Commerce and...
Economy

Jordan secures US$1.9bn in foreign aid amid dire global economic conditions

Amman, Jordan--Jordan has succeeded in securing US$1.9 billion in foreign aid and negotiations are underway to ramp it to $3.2...
Economy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Geostrategy

UAE-Hungary Political Consultations Committee discusses boosting cooperation

Budapest, Hungary--Senior officials from the UAE and Hungary met in Budapest on 22nd August for the inaugural round of the...
  • Officials from the two countries reviewed the expanding relations and discussed ways to boost opportunities in order to ramp up economic and trade ties
  • The UAE ambassador had a series of meetings with senior officials, intellectuals, and cultural figures intended to deepen relations between the two countries
Economy

DP World to invest $510m to develop mega-container terminal in India

New Delhi. India - DP World on Friday signed a concession agreement with the Deendayal Port Authority to develop, operate...
  • DP World currently operates five container terminals in India – two in Mumbai, one each in Mundra, Cochin and Chennai
  • With the addition of the Tuna Tekra terminal, the company will have a combined capacity of 8.19 million TEUs
Science

AI risks repeating social media mistakes, says Microsoft president

NEW DELHI, INDIA - Breakneck development of artificial intelligence risked repeating mistakes made by the tech industry at the start of...
  • AI tools have shown in recent months the ability to generate essays, create realistic images, mimic voices of famous singers and even pass medical exams
  • But there are also worries that chatbots could flood the internet with disinformation, that biased algorithms will churn out racist material