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.

Saudi Arabia set to leap into space tourism by 2026

Madrid-based Halo Space Company has selected Saudi Arabia as its launch site for space tourism, offering tours at $164,000 per...

Economy

India plugs into the Gulf region with power cables

India is poised to revolutionize its energy landscape by linking its power grid with Saudi Arabia and the UAE via...

Economy
Economy

Oil propels Saudi GDP growth to near 10 percent in first quarter

The preliminary results come after the world's biggest oil exporter resisted US entreaties to raise output in an attempt to...
  • Growth in the oil sector reached 20.4 percent year-on-year in the first quarter, while the non-oil sector expanded 3.7 percent year-on-year, Saudi statistics authority said.
  • The Ukraine war and the resulting rise in crude prices has been a boon to oil-producing states like Saudi Arabia, whose GDP is expected to grow by 7.6 percent in 2022.
Economy

Pakistan and Saudi Arabia to discuss extending term of $3 bn loan

The latest sign of support follows a visit to Saudi Arabia by new Prime Minister Shahbaz Sharif, who has inherited...
  • In recent years, Saudi has provided Pakistan with $4.2 bn of support in the form of the $3 bn loan deposited with the central bank as well as $1.2 bn in deferred oil payments.
  • Saudi Arabia also pledged "to further enhance the financing of petroleum products" at a time when the South Asian country is suffering from frequent power cuts.
Analysis

Physical security adds to digital transformation

Cybercrime has risen to the forefront of physical security concerns. And big firms are acutely aware of the problem, says...
  • Physical security has progressed from when it was viewed as merely a technique for responding to crime
  • It now plays a more significant role as a critical component in the digital transformation of business processes
Economy

CBUAE puts into circulation new AED5 and AED10 banknotes

The Central Bank of the UAE (CBUAE) has announced that the new AED5 and AED10 banknotes have entered circulation in...
  • The CBUAE in collaboration with the UAE Banks Federation (UBF) has provided the new AED5, AED10 and AED50 notes
  • The new denominations have been replenished to dedicated ATMs from participating banks across the country
Economy

Indonesia’s palm oil export ban heats up vegetable oil market

Indonesia's decision to suspend palm oil exports in the face of domestic shortages has pushed vegetable oil prices to new...
  • Indonesia's export ban is designed to bring down prices in the country and limit shortages, according to authorities
  • Indonesia's palm oil storage system, which was already holding substantial reserves, is now under further stress
Business

GCC stock exchanges witness a mixed week

The main Saudi index had a variable week, the Abu Dhabi exchange suffered a slight decline, while, the main index...
  • A 1.4% drop in Al-Rajhi Bank's stock and a 1.8% drop in Saudi National Bank's stock weighed on the TASI on Tuesday, causing a 0.3% drop
  • On Friday, the Abu Dhabi index fell by 0.2%, with losses of 1.3% at First Abu Dhabi Bank capping off two sessions of gains
Economy

China factory activity dips to lowest in two years: official data

The Purchasing Managers' Index (PMI), a key gauge of manufacturing activity, came in at 47.4 in April.
  • The Purchasing Managers' Index (PMI), a key gauge of manufacturing activity, came in at 47.4 in April
  • The figures come as Beijing digs in on a zero-Covid strategy that involves stamping out clusters as they emerge through targeted lockdowns
Business

Surging ecommerce boon for GCC businesses

A rising number of tech-savvy millennials, 60 percent of whom shop online, is one of the most important factors responsible...
  • A meager $5.3 billion, or 0.4 percent of the GCC's GDP, was generated by e-commerce in 2015. By 2020, revenue had quadrupled to $21.6 billion.
  • According to the Kearney Global Consultancy Firm, GCC e-commerce sales are expected to surge to $52 billion annually by 2025.
Economy

Libya losing $60 million a day from oil facilities shutdown: Minister

Oil is the lifeblood of the North African country trying to move past a decade of conflict since the fall...
  • The Libyan closures follow the selection of a new PM, Fathi Bashagha, by Libya's eastern-based parliament in a direct challenge to Tripoli-based interim PM Abdulhamid Dbeibah.
  • Analysts say eastern Libyan forces who back Bashagha have forced the closure of the oil facilities in a bid to press Dbeibah to step down.
Economy

French economy posts zero growth in first quarter

The French economy reported zero growth in the first quarter as households reduced their consumption due to rising inflation and...
  • The zero-growth result was weaker than the INSEE agency's pre-war forecast of a 0.3 percent expansion, underlying the economic difficulties faced across Europe
  • The figure puts an end to France's strong economic rebound from the Covid-19 pandemic and poses a challenge to President Emmanuel Macron

Saudi Arabia set to leap into space tourism by 2026

Madrid-based Halo Space Company has selected Saudi Arabia as its launch site for space tourism, offering tours at $164,000 per...
Economy

Company News

Latest News

UAE, KSA optimistic as BRICS leaders weigh expansion

South Africa has revealed potential BRICS expansion plans at the Johannesburg summit, with keen interest shown by Middle Eastern nations,...
Economy

Stocks advance but traders wary of US rates outlook, China concerns

The gains, including a jump in US tech stocks, "looked more like a correction than a reaction to fresh news,...
Business

RAKEZ witnesses 35 percent growth in holding company registrations

RAS AL KHAIMAH, UAE - Ras Al Khaimah Economic Zone (RAKEZ) reported a remarkable surge in the registration of holding...
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Economy

Saudi Arabia’s output cut stabilizes global oil market

The market has raised prices in response to Saudi production cuts, anticipating tighter supplies. This shows producers' efforts to prevent...
  • The market has raised prices in response to Saudi production cuts, anticipating tighter supplies. This shows producers' efforts to prevent oil prices from dropping significantly
  • Reducing production may not suffice if demand falls. However, diversifying the economy beyond oil is likely to benefit all sectors by mitigating risks, says a market expert
Economy

Syrians rally against poor economic conditions in government-held areas

Beirut, Lebanon - Hundreds of demonstrators took to the streets again on Monday in Syria's southern city of Sweida, local media...
  • Days of rare protests have erupted in the south after the government lifted fuel subsidies last week, dealing a blow to Syrians.
  • "We've had enough, the Syrian people are suffocating," one activist in Sweida said on condition of anonymity for security reasons.
Business

Sukoon Insurance sets up OIWSS

Aim is administration of Employee Money Purchase schemes.
  • OIWSS has established a partnership with Intertrust Group.
  • OIWSS will be the trustee and the operator of this scheme