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 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

MENA region could gain $385bn from women reentering workforce: survey

Doha, Qatar - The women returning to the workforce following a career break have the potential to contribute nearly US$385bn...

Economy
Business

UAE, Hungary sign MoU to establish joint business council

The UAE Federation of the Chambers of Commerce and Industry (FCCI) and the Hungarian Chamber of Commerce and Industry (HCCI)...
  • The MoU was signed by Hamid Mohammed bin Salem, FCCI Secretary-General, and Péter Szijjártó, Minister for Foreign Affairs and Trade of Hungary.
  • The parties inked the MoU at the Hungarian pavilion at Expo 2020 Dubai on the sidelines of the third meeting of the UAE-Hungarian Business Committee.
Economy

Governors of UAE and Turkey central banks to collaborate in banking sectors

The meeting was held on the sidelines of the official visit of Turkish President to the UAE.
  • The currency swap agreement was signed in January 2022, which promotes the financial, commercial and investment interests of the two countries.
  • Senior officials from both the central banks were present in the meeting which was held in Abu Dhabi.
Business

Majority of Saudi nationals positive about tourism sector jobs: Study

A sizable number of Saudis look positively at jobs in the tourism sector, according to a study by the kingdom's...
  • Overall, 80 percent of respondents felt that there were plenty of opportunities for career learning, while 75 percent felt careers in tourism will provide long-term stability.
  • The regions with the highest interest in careers in tourism include Tabuk (91 percent), Hail (86 percent), Asir (85 percent), Riyadh (82 percent) and Al Jouf (83 percent).
Business

UAE Cabinet okays trading cooperative shares on financial markets

The move is said to be conducive to strengthening the regulatory environment of the cooperatives sector and driving their economic...
  • The development is apparently the first of its kind in the region
  • It is aimed at growing the cooperative sector’s contributions to the economy
Economy

Bahrain updates Covid protocols, cancels isolation for contacts of active cases

Tests will be only be conducted for individuals experiencing COVID-19 related symptoms if the result of the rapid test is...
  • Tests will be only be conducted for individuals experiencing COVID-19 related symptoms if the result of the rapid test is positive.
  • All passengers arriving in the Kingdom of Bahrain do not need to conduct a PCR test upon arrival
Economy

Tunisians fear more economic pain as IMF talks loom

Every day at the family grocery stall in a Tunis market, Bilel Jani sees the reality of a biting economic...
  • The small North African country, roiled by years of political turmoil that deepened with President Kais Saied's power grab last July, is also mired in a deep recession
  • Surging prices and job losses have hurt families that were already struggling before the coronavirus pandemic
Economy

National Water Carrier Project will be completed by 2027: Jordan PM

The government is "serious" in finding solutions to many pending investments, including Amman's Sixth Circle Towers project, the PM said.
  • The government is "serious" in finding solutions to many pending investments, including Amman's Sixth Circle Towers project, the PM said.
  • The PM announced that the government may provide incentives to the industrial city in both southern Karak and Tafileh governorates
Economy

World fuels its own destruction with $1.8trn subsidies: Study

Governments across the world pay an estimated $640 billion in support to the fossil fuel industry.
  • Agriculture gets $520 billion in subsidies, which lead to soil erosion, water pollution, deforestation, emissions, and loss of biodiversity
  • Another $350 billion in subsidies for the water industry is said to help fund water pollution and risk ocean and waterway ecosystems
Economy

Morocco announces $1 bn relief for drought-hit agriculture industry

Morocco said Wednesday it will launch a nearly $1 billion aid program to help its agriculture industry, which has been...
  • The emergency plan aims to mitigate the effects of delay in rainfall, to alleviate the impact on agricultural activity and to provide assistance to the farmers and livestock breed.
  • The kingdom's economy, already hit hard by the Covid-19 pandemic, is heavily dependent on agriculture, which contributes 12 percent of GDP.
Business

Air travel momentum up as countries lift Covid restrictions: IATA

Air travel recovery was gaining momentum as countries were lifting restrictions, with a sharp 11-percentage-point increase for international tickets sold...
  • There was an 11-percentage-point increase for international tickets sold in recent weeks.
  • The 11-percentage point improvement between the January and February periods is the fastest such increase for any two-week period since the crisis began.

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

Company News

Latest News

Qatar National Bank foresees recession in US economy

Doha, Qatar--Qatar National Bank (QNB) Group foresees a recession in the US economy during the upcoming 12 months, pointing out...

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...
Economy

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...
Geostrategy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Business

Seventh Al Dhaid Date Festival witnesses huge turnout

SHARJAH, UAE – The seventh edition of Al Dhaid Date Festival continues to captivate participants and visitors alike, in a...
  • The event has been organized by the Sharjah Chamber of Commerce and Industry and is hosted at Expo Al Dhaid.
  • The date festival has also attracted various official delegations and representatives from government institutions.
Business

UAE is fourth biggest market for Indian spices

NEW DELHI, INDIA -  The UAE ranked fourth in the world among the top 12 markets for Indian spices in...
  • World Spice Congress 2023 is being organized on the sidelines of the G20 Summit to be held in New Delhi in September.
  • India produces 75 spices out of the 109 varieties listed by the International Organization for Standardization (ISO).
Economy

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...
  • The value of the kingdom's imports from the EU during the first five months of 2023 rose 3.6 per cent to $1.66 billion
  • Germany topped the list of countries from which Jordan imports, with the value of import climbing to $356 million