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.

European tourists make a beeline for Sharjah as 400,000 visit in 2023

Sharjah, UAE-- Nearly 400,000 visitors from Europe have traveled to Sharjah during last year, marking a notable 28 percent increase...

Economy

Ireland wants to be a gateway for UAE, Gulf states to EU market: Irish minister

Abu Dhabi, UAE--Ireland wants to become a gateway for the UAE and other Gulf states to the European Union (EU)...

Economy
Economy

India announces digital currency and ‘crypto tax’ in budget

India will have its own digital currency starting 2022-23, Finance Minister Nirmala Sitharaman said while announcing the country’s budget for...
  • India is launching a digital currency that is expected to use blockchain and other technologies
  • The country is also levying a 30 percent tax on all virtual digital assets, which could mean cryptocurrencies
Business

Lebanon power cuts turn cafes into coworking spaces

For the patrons filling Beirut's cafes these days, the most important things are good lighting and stable wi-fi.
  • The power cuts have left many already with no option but to plant themselves in cafes all day
  • The 23-hour power cuts and the falling quality of many internet connections have complicated matters
Economy

IMF and World Bank delay annual meet again

The annual meetings set to take place in Morocco will be held in Washington.
  • The 2020 meeting of IMF, World Bank was held virtually and the 2021 meeting in a hybrid format
  • Marrakesh was scheduled to host in 2020, will be the site of next year's event
Business

Egypt finalizes pact with Siemens to run high-speed train line

Egypt’s Ministry of Transport will sign a contract with Siemens to implement the second high-speed train line in the country....
  • The new line will extend from 6th of October city to Aswan, with a length of 925 kilometers (575 miles approx).
  • The cost of this project will be financed through a soft foreign government loan and the state's general budget.
Economy

IACE President warns Tunisia as a state can collapse

The President of the Arab Institute of Business Leaders (IACE) Taieb Bayahi has warned that Tunisia as a state could...
  • He added that it is necessary to save the remaining urgently, stressing that "the current economic situation does not allow us to waste any more time
  • In a report published this month, the forum ranked Tunisia among the five countries threatened by the spectre of the collapse of the state
Business

dnata of Dubai to invest $233m in Amsterdam Airport

dnata, the global air and travel services provider, will invest more than $223.22 million in a fully automated cargo center...
  • dnata Cargo City Amsterdam will significantly enhance cargo capacity in The Netherlands and create new, direct jobs with dnata
  • It will enable dnata and its customers to substantially expand operations and business, stimulating local economy and trade
Economy

UAE to levy 9% tax on business profits from next year

The UAE’s Ministry of Finance will start levying a 9 percent tax on business profits from June 1, 2023 thereby...
  • The ministry has confirmed that it will impose no tax on profits of up to AED375, 000
  • The tax will be levied on all corporations and commercial activities in the country, except for the "extraction of natural resources"
Economy

High gas prices to hit demand in 2022: International Energy Agency

IEA said the demand for natural gas is expected to fall sharply in Europe and slow in Asia. Gas demand...
  • Consumption grew by 4.6 percent last year, more than double the decline experienced as the pandemic emerged in 2020, said the agency.
  • How demand will fare in the short-term will depend on the weather during the northern hemisphere's heating season, the IEA said in a report.
Economy

Portugal re-elects PM Antonio Costa with majority

Under PM Costa's watch, Portugal has the highest immunization rate against Covid-19 in Europe, maintained fiscal discipline, increased the minimum...
  • The Socialists received 41.7 percent of the vote giving it 117 seats in the 230-seat parliament, up from 108 in the outgoing assembly
  • The early election came as the nation of around 10 million people tries to boost its tourism-dependent economy
Analysis

Transformation will propel MENA economy: IMF

Major economies in the MENA region have already got the ball rolling when it comes to diversifying their economies.
  • Jihad Azour, Director of the Middle East and Central Asia Department at IMF, has said the economic recovery of the region is affected by several factors
  • However, the region needs to rely on an agenda of transformation policies to continue down the path of economic recovery

European tourists make a beeline for Sharjah as 400,000 visit in 2023

Sharjah, UAE-- Nearly 400,000 visitors from Europe have traveled to Sharjah during last year, marking a notable 28 percent increase...
Economy

Company News

Latest News

Egypt and Indonesia to ramp up trade exchange

Cairo, Egypt--Egypt and Indonesia will ramp up trade exchange as the two countries look to strengthen the overall ties. This...
Economy

US Fed likely to hike interest rates to 22-year high

The Fed paused its aggressive campaign of monetary tightening last month to give policymakers more time to assess the health...
Economy

Qatar records 70% growth in annual FDI between 2019 and 2022

Doha, Qatar-- Qatar has recorded a 70 percent growth in annual foreign direct investment (FDI) between 2019 and 2022. Just...
Economy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Economy

UAE and UN to boost climate action cooperation in run up to COP28

New York, US--The UAE and the UN have discussed joint cooperation and partnership on government experience exchange, global climate action...
  • The UAE delegation noted the country's initiatives in development including government work, capacity building and exchange of expertise
  • They also discussed opportunities to boost cooperation in international initiatives, maximizing the positive impact of climate action around the world
Business

Arab-Indian Chamber of Commerce to be unveiled soon

NEW DELHI, INDIA - A Joint Arab-Indian Chamber of Commerce is to be “activated” soon. This was announced in the...
  • This was announced in the “Delhi Declaration” at the conclusion of the sixth India-Arab Partnership Conference in New Delhi
  • Setting up of the Chamber was decided during an earlier session of the India-Arab Partnership Conference held in Muscat
Geostrategy

UAE plays an active role in shaping better future for societies, says minister

NEW DELHI, INDIA – The UAE is committed to playing an active role in global efforts to shape a better...
  • The UAE is also committed to enhancing human resources’ contribution to sustainable development.
  • The minister applauded all G20 members for “their dedication and commitment to the objectives and vision of the forum.”