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.

Apple’s changes contradicts European rules, 34 firms complain

Brussels, Belgium - Changes Apple is making to its services in the European Union "make a mockery" of new antitrust rules...

Business

World resource extraction could surge 60 percent by 2060, UN warns

Paris, France - Extraction of Earth's natural resources could surge 60 percent by 2060, imperiling climate goals and economic prosperity, the...

Economy
Economy

Slow progress as Lebanon awaits IMF economic deal

Negotiations with the IMF opened in May 2020, but after two months they stalled amid arguments over the size of...
  • Negotiations with the IMF opened in May 2020, but after two months they stalled amid arguments over the size of financial losses
  • Talks resumed in September this year after the formation of a new government headed by Prime Minister Najib Mikati
Economy

Global stocks rise amid optimism Omicron won’t derail recovery

Experts caution against too much optimism around early indications that Omicron causes less severe disease than previous strains, pointing out...
  • The US Centers for Disease Control and Prevention helped sentiment on Monday as it cut the isolation period for asymptomatic Covid cases in half to five days.
  • Frankfurt's DAX index finished 0.8 percent higher while the Paris CAC 40 closed at a record, rising 0.6 percent to 7,181.11 points. London was closed for a holiday.
Geostrategy

Saudi Fund invests in education, road projects in Lanka

The Saudi Fund for Development is investing USD60 million to develop the infrastructure of the transport sector to reduce death...
  • The Saudi Fund for Development is investing USD60 million to develop the infrastructure of the transport sector to reduce death and injury rates resulting from traffic accidents
  • The Fund will also invest USD28 million to support education opportunities for more than 5,000 students each year and increase the quality of education
Interview

‘Digital currencies are GCC future’

Payment landscape in Gulf countries is headed for a significant change, Ralf Wintergerst, Group CEO of G+D tells the TRENDS....
  • Payment landscape in Gulf countries is headed for significant change as it’s among the fastest-growing e-commerce markets, Ralf Wintergerst tells the TRENDS
  • Many central banks in the GCC region are already testing in sandbox environments to simulate a digital currency under real-world conditions, Wintergerst added
Economy

Cash-strapped Tunisia to borrow $7 billion more in 2022

Debt-ridden Tunisia unveiled a 2022 budget on Tuesday that will see it borrow almost $7 billion more, as it seeks...
  • The deficit is expected to hit some 6.2 percent of gross domestic product, said finance minister Sihem Boughdiri.
  • Tunisia's previous government had been in talks with the IMF over a new bailout package when President Kais Saied in July sacked ministers and seized far-reaching powers.
Economy

Iraq saw rise of positive economic indicators in 2021: Planning Ministry

Iraq's Ministry of Planning has said several positive economic indicators have risen during 2021 and several measures are being taken...
  • People regaining their jobs after easing of Covid restrictions helped boost projects in the private sector.
  • Although the Planning Ministry is yet to prepare a report on economic indicators for 2021, there is an improvement in many fields, says a spokesman.
Business

Kuwait’s Warba Bank celebrates listing of $250m Sukuk on Nasdaq Dubai

Kuwait's leading Islamic bank, Warba Bank, celebrated the listing of the bank's $250 million perpetual Tier-1 Sukuk on Nasdaq Dubai...
  • This was the third listing after a $250 million and a $500 million instrument in Mar 2017 and Oct 2019 respectively.
  • The new listing brings the total outstanding value of the bank’s Sukuk on the exchange to $898 million.
Economy

Oman central bank’s FX reserves reached $18b in 2021

The board of governors at the Central Bank of Oman expressed satisfaction with the state of the 2021 FX reserves.
  • The bank’s board of governors observed that the total demand for foreign currency in the local market was at satisfactory levels
  • This, it opined, has brought the FX reserves of CBO in equation with the value of nine months of country’s imports
Economy

Iraq records high positive indicators for the economy in 2021

The Ministry of Planning has not prepared a report on economic indicators during the year 2021 but there is an...
  • All economic development movement shows positive results, the Ministry of Planning has said
  • The government projects that were suspended due to the financial and economic crisis have been resumed
Economy

Jordan tourism revenues pass $21 million in first 11 months of 2021

The total number of tourists coming to the Kingdom in the period has surpassed 2.1 million, while the number of...
  • The total number of tourists coming to the Kingdom in the period has surpassed 2.1 million, while the number of overnight tourists has inched up by 8.9 percent
  • Jordanian Minister of Tourism Nayef Al-Fayez said that the National Tourism Strategy is geared to attract more tourists than recorded in 2019, before the outbreak of the pandemic

Apple’s changes contradicts European rules, 34 firms complain

Brussels, Belgium - Changes Apple is making to its services in the European Union "make a mockery" of new antitrust rules...
Business

Company News

Latest News

QIB posts 7.7% profit rise

The net profit shot up to US$538m in H1 of 2023.
Business

War-scarred Sudan refugees face soaring rent prices in Cairo

As Egypt said more than 250,000 people crossed in from Sudan -- fleeing ceaseless air strikes, street battles, rampant looting...
Geostrategy

GCC, Japan resume Free Trade Agreement negotiations

Jeddah, Saudi Arabia--Looking to consolidate trade and investment ties, the Gulf Cooperation Council (GCC) and Japan announced their resumption of...
Economy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Geostrategy

Tunisia and EU sign ‘strategic’ deal on economy, migration

The deal between the two countries will include partnership on irregular migration, economic development and renewable energy. Tunisia has been...
  • European Commission President Ursula von der Leyen said Sunday's accord aims to "invest in shared prosperity"
  • The International Organization for Migration has said 2,406 migrants died or disappeared in the Mediterranean in 2022
Economy

Commercial transport sector added $4.38bn to Dubai economy, says RTA

DUBAI, UAE - Commercial transport sector contributed AED16.1 billion ($4.38bn) to Dubai's economy in 2022, said Mattar Al Tayer, Director-General,...
  • The commercial transport activities sector has experienced consistent economic growth over the last two years fueled by e-commerce, said an official
  • The number of registered commercial vehicles operated by these companies exceeds 300,000, reflecting a 16 percent growth rate compared to 2021, he noted
Geostrategy

Israeli court orders government to release seized Palestinian boat

GAZA CITY, PALESTINIAN TERRITORIES - Israel returned a boat to a Gaza fisherman it had seized for allegedly breaching the limits...
  • Israeli authorities had called for the vessel, belonging to fisherman Mohammad al-Hissi, to be permanently confiscated.
  • However, a Haifa court last month ordered that the boat be returned to Hissi even as legal proceedings continued.