INSEAD Day 4 - 728x90

Economy

2PointZero reports strong H1

Expansion drives earnings, revenue growth.

Borouge profit climbs 23%

Prices, recovery boost quarterly earnings

e& posts 11.6% revenue growth

The H1 net profit hits $1.63 billion.

TECOM profit up 9%

Revenue, occupancy drive earnings higher

DAE H1 profit $229m

Growth triggered by higher earnings, stron cash flow

Saudi Arabia and Bahrain sign road safety, maintenance agreement

Manama, Bahrain--Saudi Arabia and Bahrain have signed a memorandum of understanding to boost road safety and maintenance in the two...

Economy

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
Geostrategy

UN seeks $80m to avert ‘imminent’ Yemen oil spill

Yemen's Huthi rebels already agreed a "framework for cooperation" with the United Nations on the issue last month.
  • Yemen's Huthi rebels already agreed a "framework for cooperation" with the United Nations on the issue last month
  • The UN has said an oil spill could destroy ecosystems, shut down the fishing industry and close the lifeline port of Hodeida for six months

Saudi Arabia to allow one million hajj pilgrims this year: statement

Saudi Arabia said Saturday it will permit one million Muslims from inside and outside the country to participate in this...
  • After the onset of the coronavirus pandemic in 2020, Saudi authorities allowed only 1,000 pilgrims to participate
  • The government wants to ensure pilgrims' safety "while ensuring that the maximum number of Muslims worldwide can perform the hajj", Saturday's statement said
Economy

Russia’s ruble stages rebound despite Western sanctions

After a historic collapse in the wake of Russia's military offensive in Ukraine, the ruble has staged a spectacular bounceback,...
  • The Feb. 24 military operation triggered unprecedented Western sanctions on Moscow, sending the ruble into free-fall and accelerating already high inflation
  • Analysts say that success is in many ways artificial and does not bode well for the health of the Russian economy
Economy

UAE, UK hold technical workshops on illicit finance threats and risks

UAE and UK authorities met for a series of technical workshops in March 2022 in both Abu Dhabi and London...
  • The workshops were held under the UAE-UK Partnership to Tackle Illicit Financial Flows.
  • The experts discussed a range of key topics, including understanding money laundering threats and vulnerabilities in the UAE and UK.
Business

DIFC launches ‘Studio Launchpad’ focused on ubiquitous finance

Dubai International Financial Centre (DIFC) has announced the launch of Studio Launchpad, saying it is the world’s first venture studio...
  • The Launchpad is supported by an international group of venture building experts, digital asset pioneers and emerging technology strategists.
  •  Studio Launchpad is designed to attract and engage a consortium of leading start-up and corporate venture studios.
Economy

World food prices hit record high over Ukraine war: FAO

Russia's invasion of Ukraine sent ‘shocks’ through markets for staple grains and vegetable oils, the UN's Food and Agriculture Organization...
  • Russia and Ukraine’s vast grain-growing regions are among the world's main breadbaskets
  • They have a huge share in global exports of commodities like wheat, vegetable oil, and corn
Economy

Economic licenses issued in Abu Dhabi saw 21.5 percent growth in 2021

Abu Dhabi issued 25,427 new economic licenses in 2021, an increase of 21.5 percent compared to the 2020 figure of...
  • The report said that renewed economic licenses increased to 83,484, growing by 15.8 percent, from 72,070 in 2020.
  • Of the 25,427 economic licenses issued, commercial sector licenses made up 24,077, up 21.4 percent from 19,839 in 2020.
Business

Shanghai lockdown snarls world’s busiest port and China supply chains

Beijing has refused to budge from its strict zero-Covid strategy, and that has forced many companies to halt production and...
  • Shanghai has been sealed off almost entirely for a week following a Covid-19 outbreak fueled by the Omicron variant
  • The financial hub of China, Shanghai is home to multinational firms and as well as the country’s busiest port
Economy

‘Islam forbids infringement on intellectual property rights’

The Committee for Ifta pointed out that ideas have value according to the regulations issued in this regard, and therefore...
  • The Committee for Ifta pointed out that ideas have value according to the regulations issued in this regard, and therefore an infringement on them is not permissible
  • The Committee warned against taking possession of the intellectual rights of others, benefiting from them, or taking compensation for them except with the permission of their owner
Economy

UAE’s GDP beats expectations, grows at 3.8 percent

The UAE's Gross Domestic Product (GDP) for 2021 has exceeded expectations, registering the highest rate in the region of AED...
  • International institutions expected the growth of the country's GDP in 2021 at 2.1 percent.
  • Our future is going to be promising, and we assure our people that the best is yet to come," Sheikh Mohammed said

Saudi Arabia and Bahrain sign road safety, maintenance agreement

Manama, Bahrain--Saudi Arabia and Bahrain have signed a memorandum of understanding to boost road safety and maintenance in the two...
Economy

Company News

Latest News

Over 113 Emirati projects in Ethiopia, trade exceeds $6bn, says UAE envoy

ADDIS ABABA, ETHIOPIA - UAE Ambassador to the Federal Democratic Republic of Ethiopia Mohammed Salem Al Rashidi said that the...
Geostrategy

UAE firms operating in Ethiopia enrich bilateral ties

There are more than 121 Emirati companies operating in the Ethiopian market, contributing to enriching relations between the two countries...
Economy

Unrelenting demand propels Dubai home prices up by 17% in 12 months

Dubai, UAE - Dubai's real estate market continues its upward trajectory, with house prices rising by 4.8% in Q2 2023,...
Economy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Economy

Saudi Arabia and India sign agreement on digital economy

Riyadh, Saudi Arabia - Saudi Arabia and India signed on Friday an agreement on digitization and electronic manufacturing. The agreement...
  • The agreement seeks to enhance Saudi-Indian cooperation in the fields of digital infrastructure, e-health, and e-learning
  • It also aims at building robust strategic partnerships that promote innovation and the growth of the digital economy
Interview

Challenges prevail as UAE adapts to remote work

The UAE labor law has introduced changes to support remote workers, but there are still gaps compared to European countries,...
  • The UAE labor law has introduced changes to support remote workers, but there are still gaps compared to European countries, Liam Doherty of Connect Resources tells TRENDS
  • The UAE government has granted ministries and federal entities the flexibility to implement the remote work system for federal government employees on some working days
Economy

‘UAE’s humanitarian endeavors resonate globally’

"The UAE's humanitarian endeavors and diplomacy have resonated globally, exemplifying unity and camaraderie to pave pathways of hope. We have...
  • The UAE's humanitarian approach is woven into its overarching vision and exemplified by the noble characteristics of the country's various initiatives, says the MoHAP minister
  • Its humanitarian endeavors and diplomacy have resonated globally, exemplifying unity and camaraderie to pave pathways of hope, adds Abdulrahman bin Mohamed Al Owais