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.

Saudi Arabia to expand customs duty exemption for some industrial products from April 1

Riyadh, Saudi Arabia - The Saudi Ministry of Industry and Mineral Resources has unveiled plans to broaden the range of...

Economy

Despite oil riches, Libyans hit by plummeting purchasing power

Libya earns around $20 billion per year in net revenues from oil and gas exports, which accounts for around 95...

Geostrategy

DEWA first in the world to win 8 stars in EFQM Innovation Lens

Dubai Electricity and Water Authority (DEWA) has achieved 8 stars level in the European Foundation for Quality Management (EFQM) Innovation...
  • DEWA achieved a score of 800 on this award that measures innovation culture and its role in achieving results in leading organizations worldwide.
  • DEWA made many achievements in the field of excellence in 2021, including winning the Sheikh Khalifa Excellence Award (SKEA) in the Elite Category.
Economy

Cooper Fitch forecasts strong GCC hiring activity to continue in 2022

The Gulf Cooperation Council region witnessed a 40 percent rise in job creation in the last quarter of 2021 compared...
  • Job creation across the region was driven primarily by a significant recovery in the UAE and Saudi Arabia.
  • Real estate, public, software development, cyber security, sales and marketing sectors witnessed a significant increase in hiring.
Business

Bahrain to offer permanent residency visa to attract talent

Bahrain has launched ‘Golden Residency Visa’ for residents and non-residents with immediate processing of the applications electronically upon meeting the...
  • The move is a part of the Kingdom’s strategy to attract foreign investments where the visa holders will enjoy benefits
  • Bahrain’s ‘Golden Residency Visa’ will be available for qualifying residents, allowing them to take advantage of the benefits
Economy

High electricity bills in Jordan due to rise in winter consumption: Regulator

Jordan’s Energy and Minerals Regulatory Commission ascribed any rise in the electricity bill to high demand during this winter when...
  • Jordan’s Energy and Minerals Regulatory Commission ascribed any rise in the electricity bill to high demand during this winter when the electricity load was at 4,010 megawatts
  • The regulator referred to repeated complaints about higher electricity bills during summer or winter when temperatures rise or fall, prompting consumption to soar
Business

SoftBank Arm sale scrapped

The company plans public offering of Arm by March 2023.
  • The announcement came as the telecoms firm-turned-investment giant reported a net profit of 29.0 billion yen ($251 million) in the third quarter
  • And there have been challenges elsewhere for SoftBank, including losses on Chinese ride-hailing giant Didi Chuxing
Economy

Tunisia police blockade dissolved judicial watchdog

Saied has pushed the country down a dangerous route back towards autocracy, says critics.
  • Tunisian police blocked access to the country's top judicial watchdog in a move its chief slammed as "illegal", two days after President Kais Saied dissolved the body
  • Saied has vowed that he would not interfere in court cases or judicial appointments
Business

EU joins chips race with 42 bn euro bid to rival Asia

The production of semiconductors, also known as chips, has become a strategic priority in Europe as well as the United...
  • The production of semiconductors, also known as chips, has become a strategic priority in Europe as well as the United States, after the pandemic choked off supply
  • The manufacturing of chips overwhelmingly takes place in Taiwan, China and South Korea and the European Union's 27 member states
Business

Industries Qatar profit up 321%

The company achieved a net profit of QR 8.1 billion for 2021.
  • Industries Qatar said in a statement that the Group revenue significantly improved by 77 percent to reach a record QR 20.2 billion
  • Earnings per share (EPS) amounted to QR 1.34 for the year, versus QR 0.32 for last year
Economy

Lebanon fuel distributors say no diesel crisis in the country

Lebanon’s Fuel Distributors Representative Fadi Abu Chakra has confirmed that "there is no diesel oil crisis" in the country. The...
  • The rumors of oil crisis started to circulate after a ship carrying 42 thousand tons of diesel met with a marine accident.
  • The representative confirmed that diesel will be available during the next week and there is no crisis but a shortage.
Business

CBD signs a debt financing deal with Postpay

Commercial Bank of Dubai (CBD) has approved a debt financing deal with Postpay, a leading omni-channel Buy Now, Pay Later...
  • The strategic partnership with CBD will provide support to Postpay on several fronts including Transaction Banking
  • The continued support from CBD will also enable Postpay’s planned expansion in the UAE, KSA, and other GCC countries

Saudi Arabia to expand customs duty exemption for some industrial products from April 1

Riyadh, Saudi Arabia - The Saudi Ministry of Industry and Mineral Resources has unveiled plans to broaden the range of...
Economy

Company News

Latest News

Abu Dhabi-Japan deal to boost economic diversification

“Our cooperation with Japan External Trade Organisation (JETRO) is part of these efforts as Japanese experience and progress reflect role...
Economy

IMF upgrades growth projection for 2023 on resilient service sector

The IMF said the global inflation picture has improved somewhat, with consumer prices now forecast to increase by 6.8 percent...
Economy

US Federal Reserve meets to consider raising rates to 22-year high

After a pause in June, the Fed is widely expected to push ahead with what would be its 11th interest...
Economy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Economy

Jordan and Iraqi PMs renew pledge to boost economic ties

Baghdad, Iraq-- Jordan and Iraq have renewed pledge to strengthen economic cooperation in a meeting between the kingdom's Prime Minister...
  • The two prime ministers resolved to boost volume of trade exchange, expanding cooperation in the economic, trade and investment fields
  • They also lay stress on ramping up cooperation in the field of energy, completion of the electrical interconnection project between the two countries
Business

KNPC exports first shipment of 95 octane motor fuel to Europe

Kuwait City, Kuwait--The Kuwait National Petroleum Company (KNPC) has exported the first shipment of 95 octane motor fuel and low-sulfur...
  • The deputy CEO of the company said that the first shipment was loaded on board the oil tanker Pacific Sarah from Mina Al-Ahmadi
  • He said the shipment was dispatched in close cooperation and coordination with Kuwait Petroleum Corporation's international marketing sector
Economy

Iran clothing industry employs over 2m people: official

Tehran, Iran – The clothing industry in Iran which employs around two million people grew by 17 percent last year...
  • Currently 100,000 production units have been registered in the garment industry
  • These statistics do not include the stores operating on the virtual space and also unauthorized people