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.

UAE’s overseas investments surpass $2.5trn mark

Dubai, UAE - The UAE's total assets abroad, encompassing both governmental and private investments, have reached $2.5 trillion as of...

Economy

EU imports US$120.5bn worth of energy products in Q4 2023

BRUSSELS, BELGIUM – In the fourth quarter of 2023, the EU imported US$120.5 billion (€111.3 billion) worth of energy products...

Business
Economy

Dubai ranked first globally in attracting greenfield FDI projects

The emirate attracted 418 greenfield FDI projects, Crown Prince of Dubai Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum said....
  • Both FDI projects and FDI job creation witnessed a significant increase of 36 per cent in 2021, with an estimated 24,868 jobs in 2021, compared to 18,325 jobs in 2020.
  • The United Kingdom was the biggest source of FDI, accounting for 27 percent of total share of the FDI capital, followed by the US, France and Germany.
Business

Jordan sees increased food demand in Ramadan

Medium- and low-income Jordanian families spend 45 per cent of their income on food, and are the most impacted group...
  • Amman Chamber of Trade President Khalil Haj Tawfiq said this, noting that food sector sales picked up after falling in the first four days of Ramadan
  • Staple food items remained in sufficient supply during Ramadan, adding that 85 per cent of the Kingdom's food needs are imported from abroad
Economy

UN stresses strategic approach to address Palestinian economic situation

The United Nations has stressed on a more strategic approach to address the economic and fiscal crisis faced by the...
  • A UN report warned of an uncoordinated approach to address the current political, economic and security challenges in the Occupied Palestinian Territory.
  • The report urges Israelis, Palestinians, regional States, and the broader international community to concrete steps to encourage the parties to further engage with each other.
Economy

Between searing drought and the Ukraine war, Iraq watchful over wheat

Iraq will have to import wheat this year as it may only grow 2.5-3 million tons of wheat, "not enough...
  • Searing heat and a lack of rain were already threatening harvest in Iraq and now soaring oil and high-yield seed prices has become another financial burden for farmers
  • Hamid al-Nayef said that the government was helping farmers by raising the purchase price in order to pay producers around $500 per ton of wheat
Economy

Saudi King Salman enters hospital for ‘examinations’

King Salman entered King Faisal Specialist Hospital in the coastal city of Jeddah on Saturday ‘to conduct some medical examinations’.
  • The 86-year-old King Salman has ruled the top oil exporter and the Arab world's biggest economy since 2015
  • He was most recently hospitalized in March, for ‘successful medical tests’ and to change the battery of his pacemaker
Business

Oman natural gas production sees slight increase

The country’s National Center for Statistics and Information has announced that the country’s production of natural gas at the end...
  • The consumption of natural gas in industrial areas rose 13.9 percent in March this year, compared to the same period in 2021
  • Gas consumption witnessed a decrease in oil fields by 7 percent and in power plants by 3.3 percent at the end of last March
Economy

Lebanon expat voters’ turnout in Arab countries and Iran reaches 36.43%

The election is expected to be a referendum on the country’s ruling class, which is widely blamed for the economic...
  • A total of 11,268 Lebanese in Arab countries and Iran voted in the election of the country on Friday
  • This raised the overall turnout of expatriates in the country’s presidential poll to 36.43 percent
Business

Saudi Arabia to attract $32bn investment in mining sector

The investment is expected to be made in nine new projects across the country.
  • The projects are aimed at supporting supplies of mineral products to local and international markets
  • The ministry is currently studying 145 applications for exploration licenses from foreign companies
Economy

World food prices fall slightly from record high over Ukraine war: FAO

World food prices fell slightly last month after hitting a record in March but remain high due to the Ukraine...
  • International sanctions against Russia as well as export flow disruptions resulting from the February 24 invasion have sparked fears of a global hunger crisis.
  • Russia and Ukraine, whose vast grain-growing regions are among the world's main breadbaskets, account for a huge share of the globe's exports in several major commodities.
Economy

US economy adds 428,000 jobs in April: govt

The United States saw another strong month of hiring in April, with the economy adding a better-than-expected 428,000 jobs and...
  • Major industries including leisure and hospitality, manufacturing and transportation added positions last month, the Labor Department reported
  • With the US economy facing its highest inflation level in decades, the data showed the pace of average hourly wage growth slowing last month

UAE’s overseas investments surpass $2.5trn mark

Dubai, UAE - The UAE's total assets abroad, encompassing both governmental and private investments, have reached $2.5 trillion as of...
Economy

Company News

Latest News

Borouge’s PP5 unit generates $209m sales in H1 2023

ABU DHABI, UAE - Borouge's Chief Operating Officer Dr. Hasan Karam has said the fifth polypropylene unit (PP5) played a...
Business

Algerian, South African ministers discuss ways to boost economic cooperation

JOHANNESBURG, SOUTH AFRICA - Algerian Minister of Finance Laaziz Faid discussed with South African Finance Minister Enoch Godongwan, ways to...
Geostrategy

Iraq and Turkmenistan reach preliminary agreement on gas import

Baghdad, Iraq - Iraq has signed a preliminary agreement with Turkmenistan to import gas. The agreement signed by the undersecretary...
Economy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Economy

Currencies in Middle East resilient from Covid period till date  

RIYADH, SAUDI ARABIA - As the world grapples with the economic aftermath of the COVID-19 pandemic, Middle Eastern countries, particularly...
  • Saudi Arabian Riyal and UAE Dirham maintain stability against US Dollar from 2020 to 2023.
  • Both the countries witness GDP growth of 45 percent and 43 percent respectively during the period.
Business

Dubai Chambers saves water, works on sustainability agenda

DUBAI, UAE - Dubai Chambers has contributed to the emirate’s drive for sustainability by saving a total of 72,239 litres...
  • The savings were achieved as part of the chambers’ participation in Dubai Can, a sustainability initiative launched by the Crown Prince of Dubai.
  • Dubai Can is aimed at educating and mobilising all segments of society to reduce waste and protect the environment.
Economy

Greek firefighters struggle to control wildfires for sixth day

Athens, Greece--Hundreds of firefighters in Greece struggled Thursday to gain the upper hand against major wildfires burning unchecked for a sixth...
  • Threatening a national park, a huge blaze continued to burn on Mount Parnitha near Athens, in the largest forest adjoining the capital
  • According to a government minister, Greece was going through the worst summer of fires since fire-risk maps were introduced in 2009