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 ministry of defense, Masdar to set up solar plants in Abu Dhabi

Abu Dhabi, UAE--The UAE Ministry of Defence and Masdar have signed an agreement to develop multi-solar plants across Abu Dhabi....

Economy

Qatar Central Bank head calls for enhanced GCC action to tackle challenges

Doha, Qatar--Governor of Qatar Central Bank Sheikh Bandar bin Mohammed bin Saoud Al-Thani has called for strengthening joint action among...

Economy
Economy

Jordan looks to reform old tax system to propel growth

Jordan is looking to reform its old tax system in order to pave way for growth in national economy. In...
  • The forum's members stressed the need to enhance tax awareness, raise auditor competency and expand the taxpayer base
  • Stressing the importance of propagating tax culture, they called on government to turn tax revenues to services, with an impact "sensed by all"
Economy

Former Bundesbank chief appointed to head IMF expert panel

The expert group will conduct an independent review with a view to identifying how the Fund can ensure it has...
  • The expert group will conduct an independent review with a view to identifying how the Fund can ensure it has in place effective channels for complaint, dissent and accountability
  • "This will include reviewing the framework for addressing complaints applicable to the Managing Director and Executive Board officials," the IMF statement went on.
Business

Saudi Telecom Company signs over 15 pacts at LEAP22

The Saudi Telecom Company (STC) has signed fifteen agreements with major international companies, including Microsoft, Huawei, Ericsson, and Cisco, in...
  • The company has already announced an initiative to establish a $1billion main digital center “MEAN Hub” for the Middle East and North Africa
  • The company also announced an initiative to establish a factory to localize data centers in the Kingdom, in partnership with Huawei
Economy

Policy reforms help Saudi FDI inflow rise 326%

The Kingdom seeks to increase its net FDI inflow by 1,816 percent between 2021 and 2030, raising it to $103.5...
  • The Kingdom is likely to witness an increase in net FDI by 1,816 percent between 2021 and 2030
  • The country’s wholesale and retail sectors issued more than 44 percent of new FDI licenses in Q4, 2021
Economy

Oman signs three agreements worth $244m with Saudi Fund for Development

Oman has signed three agreements RO 94 million ($244 million) with the Saudi Fund for Development (SFD) for supporting SMEs...
  • The first MoU dealt with supporting small and medium enterprises (SMEs) through a soft loan portfolio of RO 57.6 million.
  • The second and third MoUs contribute to the funding of infrastructure projects in the Special Economic Zone at Duqm (SEZAD).
Business

Association of Iraqi Banks, Federation of Egyptian Banks sign MoU

The MoU was signed by the president of the association, Wadih Al-Handal in the presence of the Governor of the...
  • The MoU was signed by the president of the association, Wadih Al-Handal in the presence of the Governor of the Central Bank Mostafa Ghaleb
  • Al-Handal pointed out that the memorandum of understanding will also focus on establishing joint training programs
Business

Non-Jordan investors buy less, sell more at Amman bourse

The net of non-Jordanian investments during January 2022 showed a negative value of JD5 million ($7.05 million).
  • The value of shares that were bought by non-Jordanian investors during January 2022 was JD11.2 million ($15.8 million)
  • The value of shares sold by these non-Jordanian investors for the same period amounted to JD16.2 million ($22.85 million)
Geostrategy

IMF will only support a ‘comprehensive program’ for Lebanon

Lebanese officials began talks with the IMF last month to pull the country out of the worst economic crisis in...
  • Lebanon’s currency has lost about 90 percent of its value on the black market
  • Meanwhile, four out of five Lebanese now live below the poverty line
Analysis

Oil prices help GCC economies script revival story

GCC countries appear to be reaping the benefits of their efforts this year, with all indications pointing to the economies...
  • According to the IMF, the region’s oil GDP will rise 5.3 percent in 2022
  • Saudi Arabia’s non-oil GDP is expected to grow by 4.9 percent in 2022
Economy

Middle East Energy Event to address future of energy transition

The Middle East Energy Event (formerly Middle East Electricity) will be held at Dubai World Trade Center from 7th-9th March....
  • The event, formerly known as Middle East Electricity, will be held at Dubai World Trade Center from 7th-9th March.
  • A study by Goldman Sachs revealed green hydrogen could meet 25 percent of global energy requirements in the next 30 years.

UAE ministry of defense, Masdar to set up solar plants in Abu Dhabi

Abu Dhabi, UAE--The UAE Ministry of Defence and Masdar have signed an agreement to develop multi-solar plants across Abu Dhabi....
Economy

Company News

Latest News

Eurozone witnesses steepest downturn in eight months in July

The painful PMI data comes as the European Central Bank is eyeing a further rate hike this week in its...
Economy

Abu Dhabi Maritime signs MoU with ADNOC Distribution

It seeks to enhance emirate's coastal and marine locations.
Business

Jordan and Algeria look to ramp up trade, parliamentary ties

Amman, Jordan--Jordan and Algeria are looking to boost trade and parliamentary relations to further enhance bilateral ties between the two...
Economy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Geostrategy

UAE president meets with Arab and EU leaders in Italy

The president met with a string of leaders from the Arab world and the European Union and discussed ways to...
  • The UAE has announced a contribution of US$100 million to support developmental projects in countries affected by irregular migration
  • The heads of the European Commission and the European Council, and the Tunisian president and Lebanese PM applauded the UAE for the aid
Economy

Tourism turns the Kingdom into a rising global star

In just few years, Saudi Arabia has leapt up the global rankings to become a leading destination for international tourists,...
Infographics

Strong growth key to GCC’s FDI appeal

Saudi Arabia has reentered into this year's Kearney FDI Confidence Index, which ranks the markets likely to attract the most...
  • The optimism stems from strong economic growth, which is expected by IMF to reach 3.6% in 2023, higher than the global average of 3.3%.
  • The GCC region is especially ripe for FDI, as the high demand for oil and gas is expected to continue to spur the growth of economies in the region.