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 transfers 8% Aramco stake to PIF-owned firms

Saudi Arabia said it transferred an additional eight percent stake from oil giant Aramco to firms owned by the kingdom's...

Business

Over 105m people visit Dubai Mall in 2023

DUBAI, UAE – Dubai Mall welcomed a record 105 million visitors in 2023, a jump of over 19 percent on...

Business
Economy

OPEC expected to maintain course to modestly open taps

Major oil-producing countries are expected to maintain on Tuesday their course of modestly boosting output as the rapidly spreading Omicron...
  • Analysts say they expect the group to step up production by 400,000 barrels per day in February
  • The 13 members of the Organization of the Petroleum Exporting Countries (OPEC) and their 10 allies drastically slashed output in 2020

Ajman issues 41 percent more economic licenses in 2021

The economic licenses issued by the Department of Economic Development in Ajman (Ajman DED) during 2021 grew by 41 percent....
  • The initiatives launched by the Ajman DED during the current year have resulted in a high growth rate of the Taziz Program to about 238 percent.
  • The department signed 54 agreements during the current year, and the percentage of partners' satisfaction reached 85 percent.
Business

Syria to host three-day exhibition of Jordan’s trade and services

An exhibition of Jordan’s trade and services is scheduled to start next Tuesday in the Syrian capital, Damascus. The event...
  • The event is jointly organized by the Jordan Chamber of Commerce (JCC) and the Federation of Syrian Chambers of Commerce (FSCC).
  • Jordanian companies working in various sectors, particularly in trade, information and telecom technology will take part in the event.
Economy

Turkish inflation hits 19-year high in December

Consumer prices jumped to 36.1 percent last month from the same period in 2020, up from 21.3 percent in November.
  • Consumer prices jumped to 36.1 percent last month from the same period in 2020, up from 21.3 percent in November
  • The figure is the highest since October 2002 when inflation reached 33.45 percent, before the party of Erdogan came to power in November that year
Economy

Iran, Russia, Azerbaijan to connect power networks in May

Mohammad Ali Farahnakian, advisor to Iran's energy minister for international affairs, told IRNA on Sunday that given a contract among...
  • Farahnakian noted that the energy corridor in northern Iran will bring profits and reduce the need to invest in the electricity sector of the Islamic Republic
  • There are two potential corridors for energy sharing, including the Russia-Azerbaijan-Iran corridor and Armenia-Georgia-Russia, Farahnakian added
Economy

Jordan: 118% rise in tourist traffic to Petra city

A total of 236,088 tourists of all nationalities visited the city, including 135,064 non-Arab visitors, 16,026 Arabs 11,615 and 84,776...
  • A total of 236,088 tourists of all nationalities visited the city, including 135,064 non-Arab visitors, 16,026 Arabs 11,615 and 84,776 Jordanians
  • Petra received the majority of its visitors, nearly 150,000 of all nationalities, in the fourth quarter of 2021
Analysis

GCC countries competing to lead the world in AI

Several countries in the region have already formed AI policies to support their national goals after this technology demonstrated its...
  • The Middle East AI market is growing at a rate of 20-34 percent per year, according to a PwC report
  • Saudi Arabia is lavishing $500 billion on the NEOM’s project, which will offer ultra-connectivity, and is trialing air-taxis
Economy

Dubai government approves budget for 2022-24

Sheikh Mohammed bin Rashid Al Maktoum said the budget supports the Dubai Strategic Plan 2030 and places Dubai at the...
  • The budget features an expenditure of AED181 billion, with around AED60 billion expenditures and AED57.55 billion in expected revenues for 2022.
  • Economy, transportation and infrastructure account for 42 percent of the expected expenditure, followed by social development (30 percent).
Economy

Value and volume of Qatari real estate deals rise in November

The total number and value of sold real estate in Qatar have increased at a monthly rate of 2.8 percent...
  • The issued cash increased by 3 percent, compared to October 2021, and at an annual rate of 20.7 percent, compared to November 2020.
  • Total Broad Money Supply (M2) recorded about QR619.3 Billion during November 2021, an annual increase of 6.2 percent compared with November 2020.
Business

Expatriate remittances to Morocco exceeded $9.32bn till Nov 2021

Expenses stood at 9.8 billion dirhams at the end of November 2021, against 9.58 billion dirhams a year earlier and...
  • Exports improved by 9.1% to reach 127.5 billion dirhams at the end of November 2021, and imports increased by 12% to 67.55 billion dirhams
  • Travel revenues stood at 31.96 billion dirhams at the end of November 2021, against 31.72 billion dirhams at the end of November 2020

Saudi Arabia transfers 8% Aramco stake to PIF-owned firms

Saudi Arabia said it transferred an additional eight percent stake from oil giant Aramco to firms owned by the kingdom's...
Business

Company News

Latest News

Erdogan’s visit: Qatar and Turkey seek to deepen strategic partnership

Qatar’s emir Sheikh Tamim bin Hamad Al-Thani praised Turkey's efforts to improve the country's financial situation and reduce inflation rates...
Geostrategy

Bahrain records 2% jump in GDP on back of expansion in Q1 in non-oil sector

Manama, Bahrain--Bahrain has recorded a two percent rise in gross domestic product in the first quarter of 2023, driven by...
Economy

Iran looks to Arab states to propel its lackluster tourism sector

Avoided by western tourists, Iran is turning to wealthy Arab states and other nearby countries to bolster its sanctions-hit economy....
Economy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Business

ADNOC Gas signs deal with IOCL

It will export annually up to 1.2m metric tonnes of LNG.
  • The 14-year agreement is valued in the range of $7 billion to $9 billion, signifying a major step in the partnership between the two industry players
  • The deal marks another milestone for ADNOC Gas to expand its footprint around the globe, reinforcing the company's position as an LNG exporter
Economy

GCC becomes safe haven for expats amid uncertainty

While Western economies continue to struggle with the aftermath, the region has shown remarkable recovery, instilling a sense of security...
  • While Western economies continue to struggle with the aftermath, the region has shown remarkable recovery, instilling a sense of security and optimism among expatriates
  • As expats with 10 to 12 years of experience face challenges in their home countries, they are increasingly drawn back to the GCC, particularly Dubai, says an expert
Economy

Iraqis rally in heat against water, electricity crisis

Designated by the UN as one of the five countries in the world most touched by some effects of climate...
  • United Nations has declared Iraq as one of the five countries in the world most touched by some effects of climate change
  • "We have come to peacefully protest and demand water from the government and the source countries," Najeh Jawda Khalil told AFP