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 construction market soars to $94bn in 2023

Abu Dhabi, UAE--The UAE construction market size was $94 billion in 2023 and the market will achieve an AAGR of...

Economy

Iran agricultural, food exports hit US$5.5bn in 11 months

TEHRAN, IRAN – The Ministry of Industry, Mine, and Trade said that Iran exported fisheries, livestock, agricultural and food products...

Economy
Business

Egypt sets up $50m venture capital fund for startups

The World Bank and MSMEDA is eager to review and develop the needs of startups.
  • The World Bank is supporting the operation of the program, aimed at tech-based startups
  • The fund was announced by Egypt's Minister of Trade and Industry, Nevine Gamea
Business

Ras Al Khaimah provided $1.9m package to local businesses during pandemic

The Ras Al Khaimah Department of Economic Development (RAK-DED) offered AED 7 million ($1.9 million) in economic stimulus package to...
  • The package was provided to support the local economy and ensure business continuity during the COVID-19 pandemic.
  • RAK said the package included licenses registered with RAK-DED and affected by the pandemic such as infrastructure projects and SMEs.
Infographics

SWIFT: The Russia sanctions threat for Ukraine invasion

Ukrainian President Volodymyr Zelensky called on world powers on Thursday to cut Russia off from SWIFT, after Russian forces invaded...
  • Founded in 1973, the Society for Worldwide Interbank Financial Telecommunication, actually doesn't handle any fund-transfers itself
  • But its messaging system, developed in the 1970s, provides banks the means to communicate rapidly, securely, and inexpensively

Ukraine crisis challenges oil industry caution at high prices

As oil prices have risen over the last year companies ranging from giants like Chevron to mid-sized players such as...
  • As oil prices have risen over the last year companies ranging from giants like Chevron to mid-sized players like Devon Energy have chosen to only lift capital investment modestly
  • That approach has reflected the clear preference within the investment community for producers to steer extra cash to debt reduction and shareholder givebacks
Economy

UAE aims to increase economy to more than $800bn by 2030

This goal requires adopting new economic diversification strategies, in addition to supporting new economic sectors, said Minister of Economy Abdullah...
  • The UAE aims to increase the size of its economy from AED1.4 trillion ($ billion) to AED3 trillion ($816.88 billion) by 2030
  • In 2020, the UAE attracted FDIs worth some $20 billion, which was an increase of 17 percent compared to the previous year
Economy

US Fed official sees big hike at March meeting, warns of Ukraine impact

Russia’s invasion of Ukraine threatens to drive up global commodity prices and disrupt the US recovery at a time of...
  • Russia’s invasion of Ukraine threatening to drive up global commodity prices and disrupt the US recovery at a time of high inflation
  • The central bank typically increases by a quarter percent, but Waller said an increase at the March 15-16 meeting of half a percentage point
Geostrategy

North Africa-Europe migrant deaths at sea up 155%: UN

The surge in deaths came alongside evidence of both increased arrivals in at least one key destination and rising interceptions.
  • The central Mediterranean route, running from Tunisia and Libya to Italy and Malta, has claimed more than 18,000 migrant lives since 2014
  • The Western Africa-Atlantic crossing to Spain's Canary Islands was the second most deadly during the first half of last year, with 250 fatalities
Economy

New US sanctions hit Russian banks, elites; spare energy

Washington said the penalties will be severe, and will have lasting impact on Russia's economy.
  • The US Treasury added five more Russian banks to the sanctions list, including the country's two largest
  • Western allies banned exports of key high-tech goods aimed at choking off the Russian military's capabilities
Economy

IMF, World Bank warn of global impacts as Russia invades Ukraine

The World Bank and IMF warned on Thursday that Russia's invasion of Ukraine would have repercussions for the global economic...
  • IMF Managing Director Kristalina Georgieva said the conflict ‘adds significant economic risk for the region & the world’
  • World Bank President David Malpass warned that ‘the devastating developments’ would have ‘far-reaching economic and social impacts’
Economy

Ukraine-Russia war may affect Gulf food supply

The ongoing conflict will directly impact the Gulf and Arab countries since they import vast food items from the two...
  • The Gulf states will be directly affected by the conflict as they depend on the two countries to meet a large proportion of their food requirements.
  • Experts, however, believe a severe food shortage crisis in the Gulf countries is unlikely to happen in the short term as they can absorb rising import costs

UAE construction market soars to $94bn in 2023

Abu Dhabi, UAE--The UAE construction market size was $94 billion in 2023 and the market will achieve an AAGR of...
Economy

Company News

Latest News

Dubai Customs clears TIR carnet transactions worth US$38.7m

DUBAI, UAE - Dubai Customs has, to date, processed 214 customs transactions worth US$38.7 million (AED142.2 million) under cover of...
Business

Fire at substation in Iraq sparks nationwide power outage

Baghdad, Iraq--A fire at an electricity substation in southern Iraq triggered a nationwide power outage Saturday, authorities said, just as demand peaks...
Economy

UAE sets more norms for ‘Qualifying Investment Funds’

The new set of conditions brought in by the finance ministry look to shore up the integrity of the corporate...
Economy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Economy

Saudi Arabia turns to maritime to diversify revenues

Saudi Aramco's King Salman Complex, set to be the largest marine industry hub in the Middle East, is expected to...
  • Saudi Aramco's King Salman Complex, set to be the largest marine industry hub in the Middle East, is expected to boost Saudi Arabia's GDP by over $17 billion
  • The complex aims to localize technologies and meet the needs for building offshore oil and gas rigs, offshore platforms, offshore support vessels, and crude tankers
Geostrategy

UAE finance ministry unveils new corporate taxation rules

ABU DHABI, UAE - The UAE Ministry of Finance (MoF) on Saturday announced administrative penalties for violations related to the...
  • The penalties will be imposed on Taxable Persons, whether an individual or a legal entity, who do not comply with their obligations.
  • Penalties also apply in cases of failing to properly keep records or submitting the required records and other information specified in the Tax Law.
Geostrategy

African Union, EU step up pressure on Niger coup leaders

The African Union demanded Niger's military "return to their barracks and restore constitutional authority" within 15 days as the EU...
  • The African Union and the European Union joined the chorus of international condemnation of the power grab, the latest to strike the Sahel region.
  • The EU's diplomatic chief Josep Borrell said the bloc would not recognize the putschists and announced the suspension of security cooperation with Niger.