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.

Residential demand buoyed Qatar’s property sector in 2023

Doha, Qatar - Residential demand continued to buoy the country's property sector in Q4 2023, hapondo, a homegrown property portal,...

Economy

Amman Chamber of Industry exports for January-February 2024 reaches $1.3bn

AMMAN, JORDAN - Amman Chamber of Industry (ACI) exports amounted to US$1.3 billion (JD926 million) during the last two months...

Business
Economy

Fed official says March rate hike will depend on data

"I support raising the federal funds rate at our next meeting in March," governor Michelle Bowman said.
  • "I support raising the federal funds rate at our next meeting in March," governor Michelle Bowman said
  • She stressed that should the economy evolve as she expects, "additional rate increases will be appropriate in the coming months."
Business

Aramco stock rises 4%

Recently, a 4% stake of the oil giant had been transferred to PIF in an $80bn deal.
  • The share price hit SR39.3 ($10.5) yielding a market cap of $2.09 trillion
  • Earlier in the session, the shares hit an all-time high of SR40 ($11)
Business

Bahrain-based GFH Financial Group launches GCC $100m Sukuk Fund

GFH Financial Group (GFH), a Bahrain-based Islamic investment bank, has announced that is has launched and seeded a $100 million...
  • The bank signed an agreement with Credit Suisse to provide financing and fund administration services.
  • GFH said it aims to generate returns to the fund through active asset allocation, credit selection, optimal leverage and duration management.
Geostrategy

Using alternative sources of energy saved UAE $191 bn: Suhail Al-Mazroui

UAE has saved $191 billion by using alternative sources of energy, according to Suhail Al-Mazroui, UAE energy minister. Speaking at...
  • Energy minister Suhail Al-Mazroui said his country is working on 40 international projects helping other countries implement solar and wind projects.
  • UAE has plans to capture 25 percent of the global hydrogen market share, Al-Mazroui told IPTC 2022 Riyadh.
Business

Bahrain lays foundation stone for United States Trade Zone

The ceremony among others was attended by the Minister of Industry, Commerce and Tourism Zayed bin Rashid Al Zayani and...
  • The ceremony among others was attended by the Minister of Industry, Commerce and Tourism Zayed bin Rashid Al Zayani and US Ambassador to the Kingdom of Bahrain Steven C. Bondy
  • The USTZ project follows the visit of the UAE's Crown Prince and Prime Minister Salman bin Hamad Al Khalifa to the USA in November 2019
Economy

Jordan was subjected to 897 cyberattacks in 2021: Minister

The attacks reportedly focused on sovereign institutions, financial and economic targets, and even individuals.
  • Jordan’s Minister of State for Media Affairs, Faisal Shboul, said at a a press conference that the country was subjected to 897 cyberattacks in 2021
  • He was accompanied by the head of the National Cyber Security Center, Ahmed Melhem, as they discussed Jordan’s efforts in the cybersecurity field
Economy

Lebanon electricity supply may rise to 8-10 hours a day soon

Gas from Egypt and Jordanian electricity is expected to help Lebanon restore electricity supply to 8-10 hours a day soon.
  • The Lebanese have been suffering a financial crisis that has led to power supply being restricted to a mere couple of hours per day
  • The country even witnessed an all-encompassing blackout in October last year as power-generating fuel ran out in the country
Analysis

Covid-19 shakes up GCC’s in-demand job profiles

Now, the fastest-growing job profiles in the GCC include a mix of both pandemic-resultant and non-pandemic-resultant positions.
  • Traditional jobs such as healthcare personnel and core corporate operations are still in high demand around the world
  • Employment rates in the Gulf region have risen by 40% annually, thanks to the UAE and Saudi Arabia
Geostrategy

461m Dubai riders used taxis, public and shared transport in 2021

Nearly 461 million riders in Dubai used public transport, shared transport and taxis, which include metro, tram, public buses, marine...
  • Dubai’s Roads and Transport Authority (RTA) said the number compares well with the number announced in 2020: about 346 million riders.
  • The daily average of riders using mass transit means and taxis last year reached 1.3 million riders, compared to about 948,000 in 2020.
Business

Jordan apprises US delegation of trade opportunities in kingdom

A workshop held by the JCC and working meetings with a number of ministers and representatives of official entities, universities...
  • The joint cooperation is to support economic cooperation, scientific research and joint business development
  • The delegation met King Abdullah, and was briefed on trade and investment opportunities in the Kingdom

Residential demand buoyed Qatar’s property sector in 2023

Doha, Qatar - Residential demand continued to buoy the country's property sector in Q4 2023, hapondo, a homegrown property portal,...
Economy

Company News

Latest News

Jordan’s exports to EU climb 23.4% to US$192m in first five months of 2023

Amman, Jordan--Jordan's exports to the European Union (EU) shot up 23.4 per cent during the first five months of 2023...
Economy

Strategizing internet use key to halt disinformation

“Handling disinformation is the need of the hour. The Global Media Congress will help devise a strategy to use the...
Economy

Aramco, 5 local firms to jointly work on project in Pakistan

ISLAMABAD, PAKISTAN - Five Pakistani state-owned companies are set to collaborate with Saudi Arabia’s Aramco to execute a $10 billion...
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Business

ExxonMobil Q2 profits $7.9bn

Profits fell on lower refining margins, natural gas prices.
  • Natural gas prices are down sharply from the year-ago period following a mild winter.
  • The comparative weakness in refinery margins reflects sluggish economic conditions.
Business

PIF sets up tourism firm Asfar

Firm Saudi Tourism Investment Company has been set up.
  • The company will invest in new tourism projects and develop attractive destinations with hospitality, tourist attractions.
  • The company will leverage Saudi Arabia’s unique strategic location between the three continents of Asia, Africa and Europe
Business

Tabreed H1 23 net profit $105m

New customers and projects were added in H1 2023.
  • In the first half of the year, Tabreed's revenue increased by 9.4 percent YoY to US$290 million, from US$265 million in H1 2022.
  • Earlier this month, Tabreed started operating the cooling infrastructure, officially commencing its first operations in India.