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

UK inflation slows to lowest level since September 2021

ONS chief economist Grant Fitzner said "food prices were the main driver of the fall, with prices almost unchanged this...

Economy

Oman issues Treasury Bills worth US$181m this week

MUSCAT, OMAN – The Central Bank of Oman (CBO) has announced that the total issuance of Treasury Bills amounted to...

Economy
Economy

Remittances: Ukraine flows may rise by 8 percent, Central Asian countries hit

Remittances to Ukraine, which were around 12 percent of its GDP and nearly three times the size of foreign direct...
  • Remittances were around 12 percent of Ukraine's GDP and nearly three times the size of foreign direct investment in 2021.
  • Azerbaijan, Armenia, Tajikistan, and Uzbekistan received more than 50 percent of their remittance inflows from Russia from Q1-Q3 2021.
Business

Sharjah Entrepreneurship Foundation discusses SMEs funding requests

The Project Finance Committee of the Sharjah Entrepreneurship Foundation (Ruwad) has approved AED300,000 finance for a project that will work...
  • The Foundation’s Project Finance Committee approved AED300,00 finance for a health fitness service program.
  • The total approved financing by the end of February amounted to AED33 million, of which AED14.4 million were directly financed by the institution.
Economy

Jordan’s real estate trading at JD73 5mn in 2022

The Department of Land and Survey (DLS) revealed that the revenue in the first two months of 2022 stood at...
  • The Department of Land and Survey (DLS) revealed that the revenue in the first two months of 2022 stood at JD32.4 million up 15% from the figure reported in 2021
  • Overall real estate sales in the Kingdom in the period decreased by 10 percent, as apartment sales declined by 5 percent
Economy

Aluminium, copper prices hit records on Ukraine fallout

Aluminium reached $4,026.50, the first time the lightweight metal had breached $4,000 per tonne.
  • Aluminium reached $4,026.50, the first time the lightweight metal had breached $4,000 per tonne
  • Commodities have been red hot since Russia's assault on its neighbour, with gold on Monday back above $2,000 an ounce
Economy

Nightmare of underage marriage for Moroccan girls

Rights groups say that marriage of girl child is widespread in remote, landlocked and marginalised areas in the country.
  • Precarious livelihoods and long-held traditions in Morocco's backward areas hinder mission of spreading awareness on women's issues
Economy

Jordan commerce chamber says Ukraine crisis will affect market

Nael Kabariti, who is the JCC president, said the Ukraine crisis has led the prices of staples to shoot up.
  • Nael Kabariti, who is the JCC president, said the Ukraine crisis has led the prices of staples to shoot up
  • Kabariti added that the war has heavily impacted the world basket and disrupted the shipping and export chains
Economy

Gunmen cause shutdown at two oil fields in Libya

The National Oil Corporation declared “force majeure” at the Al-Sharara and Al-Fil fields due to the shutdown, according to a...
  • The National Oil Corporation declared “force majeure” at the Al-Sharara and Al-Fil fields due to the shutdown, according to a statement published on Facebook
  • Oil revenues are vital to the economy of Libya, a country sitting on Africa’s largest known reserves
Economy

Brent crude nears $140 per barrel, headed towards all-time high

Brent North Sea crude oil for May delivery reached $139.13 shortly after electronic trading opened around 2300 GMT on Sunday.
  • Even if oil is technically still exempt from sanctions, Russian oil exporters are struggling to find buyers
  • Shell is one of the only companies still buying Russian oil, although it said it would donate the profits to Ukrainian causes
Geostrategy

UAE, Israel work to secure region’s food needs

Government support, coupled with strong social systems, must ensure that no one goes hungry, says Nobel Laureate Dr Dan Shechtman
  • Enhancing collaboration between research institutes and agritech companies in Israel and the UAE will be pivotal to secure region's food future, say Israeli experts
  • Arab region needs to develop the knowledge to grow crops in arid conditions, says Dan Shechtman of Israel Institute of Technology
Business

Saudi Arabia hikes oil price as Russia-Ukraine war presses on

Saudi Arabia has hiked oil prices for all regions after the crude oil prices soared to more than $115 a...
  • Saudi Arabia's state oil producer Aramco raised the official selling price
  • Aramco hiked all prices for the American customers by $1

UK inflation slows to lowest level since September 2021

ONS chief economist Grant Fitzner said "food prices were the main driver of the fall, with prices almost unchanged this...
Economy

Company News

Latest News

CEPA signed with UAE is a special achievement: Indian minister

New Delhi, India--The Comprehensive Economic Partnership Agreement (CEPA) signed with the UAE and operationalized last year is a “special achievement...
Economy

Protests mark Beirut blast anniversary as justice eludes victims’ families

Hundreds of protestors marched alongside victims' families demanding long-awaited justice as the country marked three years since one of history's...
Geostrategy

Emiratis make up 74% of Federal Authority for Nuclear Regulation workforce

Abu Dhabi, UAE-- In 2022, Emiratis represented 74% of the Federal Authority for Nuclear Regulation (FANR) 248 employees. FANR continues...
Economy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Economy

UAE 2023 growth prospects face least risk in Middle East, Africa

Lower oil production, high inflation, tighter monetary policies, increased borrowing costs, and the rising cost of servicing debt continue to...
  • The GCRI risk score in the MEA region has increased continuously for six quarters until Q1 2023, signaling a deteriorating situation.
  • UAE, Saudi Arabia, Kuwait and Qatar are among the top five low-risk countries in the region, while Syria, Libya and Yemen are among the 10 high-risk countries.
Business

Saudi capital market institutions post record 2022 net income

Riyadh, Saudi Arabia -- Capital market institutions authorized by Saudi Arabia's Capital Market Authority posted a record 29.8 percent increase...
  • The retained profits in capital market institutions reached a record high of SAR 60.34 billion, an increase of 39.17 percent.
  • The profits of capital market institutions surged to highest ever SAR 12 billion due to a 26 percent increase in revenues in 2022.
Business

Empower H1 2023 revenue at $333m

The company’s EBITDA in H1 2023 was US$178 million.
  • In the July 2022 to June 2023 period, Empower’s consolidated revenue was US$778 million.
  • Empower CEO said the firm continues to expand investments in its portfolio of assets and infrastructure.