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

UAE banking sector looks poised for continued growth in 2024

Abu Dhabi, UAE--The UAE banking sector continued its growth momentum last year and is poised for further growth and recovery...

Economy

Saudi Arabia grapples with over 1 million tons of annual vegetable waste

Riyadh, Saudi Arabia - Saudi Arabia faces substantial annual losses in its agricultural sector, including 234,000 tons of tomatoes and...

Economy
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
Business

New South Wales displays agri-food innovations at Expo 2020

The Australian state of New South Wales (NSW) displayed its agri-food innovation and manufacturing capabilities to strengthen further its ties...
  • New South Wales highlighted its prominent companies in agtech, food & beverages besides prime investment opportunities.
  • The event saw six NSW companies pitched their businesses to the buyers, investors, distributors and retailers present in the audience.
Economy

With Spanish funds, Lebanon plans to revive railway out of service since ’70s

Lebanon's transport minister has said that Spain will finance a plan to revive the railway network that has been out...
  • Lebanon had a railway network since the end of the 19th century which connected Beirut to the Syrian capital Damascus.
  • It was built during Ottoman rule and inaugurated in 1895, operating until the devastating civil war begun 47 years ago.
Economy

Russia-Ukraine conflict: GCC can fill the energy gap

The Arab oil and gas producers are likely to close the gap that could arise from the disruption of oil...
  • The Arab oil and gas producers are likely to close the gap that could arise from the disruption of oil flows from Russia, according to the Institute of International Finance
  • The brent oil prices surged to US$100 per barrel for the first time in eight years after Russia attacked Ukraine
Economy

Saudi Arabia overall export rose 62.6% y-o-y in December

GASTAT data said the value of exports amounted to SAR106.3 billion ($28.35 billion) in December 2021.
  • The total value of exports amounted to SAR106.3 billion ($28.35 billion) in December 2021
  • This was up from the SAR65.3 billion ($17.41 billion) that Saudi Arabia had in December 2020
Economy

Russian central bank to intervene as ruble, Moscow exchange plummet

The ruble-dominated Moex index opened down 13.97 percent, while the dollar-dominated RTS was down 20.16 percent.
  • The central bank measures are intended to provide ‘additional liquidity to the banking sector’ in Russia
  • This, as Western sanctions loom after the military operation announced by Vladimir Putin against Ukraine
Geostrategy

Russia attack on Ukraine turns Europe eyes to Saudi Arabia, Qatar

Qatar and Saudi Arabia host American troops, but their economic and political relations with Russia have grown over the years.
  • Russian gas accounts for about 40 percent of the European market, leaving it highly exposed to supply disruptions due to the conflict
  • A similar logic applies to the 2.3 million barrels of Russian crude that heads west each day through a network of pipelines
Economy

IMF official urges ‘deep reforms’ to Tunisian economy

Tunisia's debts have soared to nearly 100 percent of Gross Domestic Product.
  • Tunisia's debts have soared to nearly 100 percent of Gross Domestic Product
  • Its GDP plunged by almost nine percent in 2020, the worst rate in North Africa
Arts & Culture

Lebanon turns to public libraries for entertainment as crisis drains joy

Weekly storytelling events are one of the last affordable pleasures in Lebanon, where a crashing local currency has rendered books...
  • The cost of printing and buying books has soared in Lebanon, while the monthly minimum wage is currently valued at $32
  • All new books were priced in dollars, and therefore hit by the fluctuating exchange rate of the Lebanese pound
Geostrategy

Oil price break $100 on Russian ‘military operation’ in Ukraine

According to the UN, a full-scale Russian invasion on Ukraine would have a devastating global impact that would likely spark...
  • The crisis comes as governments struggle to contain runaway inflation fueled by demand as life returns after recent Covid-19 lockdowns,
  • World Markets have been hammered since a week as the Kremlin recognized Ukraine's rebellion and said it would provide "peacekeepers" to the regions

UAE banking sector looks poised for continued growth in 2024

Abu Dhabi, UAE--The UAE banking sector continued its growth momentum last year and is poised for further growth and recovery...
Economy

Company News

Latest News

Saudi Arabia real GDP grows 1.1 percent in Q2 2023

RIYADH, SAUDI ARABIA - The real GDP of Saudi Arabia grew by 1.1 percent in the second quarter of 2023,...
Economy

UK to issue hundreds of new oil and gas drilling licenses in North Sea

The announcement has angered environmental groups and comes amid an internal debate within the ruling Conservative party on green policies....
Geostrategy

UAE oil giant ADNOC pledges to ‘accelerate’ zero-carbon plan

ADNOC "is accelerating its decarbonization plan to advance its net-zero ambition to 2045, compared to its previous target of 2050,"...
Geostrategy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Economy

In Asia expansion push, Masdar to develop 2GW clean energy in Malaysia

Abu Dhabi, UAE--Abu Dhabi Future Energy Company (Masdar) and Citaglobal Berhad have signed a memorandum of understanding (MoU) for developing...
  • The two companies will join hands to build projects across the renewable energy mix in the picturesque Malaysian state of Pahang
  • Masdar sees Southeast Asia as a key investment destination, where it has already built the region's biggest floating solar facility in Indonesia

Lebanon’s central bank chief to end term with no successor

Lebanon's deeply divided political class has failed to agree on a replacement for Salameh, 73, creating another power vacuum in...
  • Salameh has for two years been the subject of judicial investigations at home and abroad into allegations including embezzlement and money laundering, charges which he denies
  • Lebanon's central bank chief Riad Salam is wanted in France and Germany, and Interpol has issued a Red Notice for his arrest, but Lebanon does not extradite its nationals
Economy

Oman inflation spikes 2.8% in 2022, pushing up food prices

Muscat, Oman-- Oman's inflation rate increased by 2.8 percent in 2022 as the consumers price index (CPI) registered 109.7 points...
  • Food and non-alcoholic beverages prices went up by 5.2 percent, and housing, water, electricity, gas and other fuels also rose 1.1 percent
  • The steepest increase was in the prices of oil and gas products, registering a growth of 44.1 percent, with non-oil products rising 3.8 percent