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.

Total value of Saudi Arabia’s export of dates reaches US$389m in 2023

RIYADH, SAUDI ARABIA - According to data released by the National Center for Palms and Dates (NCPD), the value of...

Business

Gold hovers near a month high on slowing US inflation

ABU DHABI, UAE- Gold prices hovered near a month high on Friday after data suggested easing US price pressures, while...

Business
Economy

Saudi Arabia, UAE eye strong growth amidst challenges

London-based think-tank Cebr predicts the economic future of countries across the world and the outlook remains rosy for the Gulf...
  • Saudi Arabia will jump from t19th to 17th in the World Economic League Table by 2021
  • The UAE is expected to move up in the table from 34th in 2021 to 33rd in 2036
Economy

Palestine Q3 current-account deficit stands at $316m

The preliminary results showed a surplus value for the capital and financial account amounting to $222 million, mainly caused by...
  • This deficit in the current account was mainly triggered by the deficit of the trade balance of goods, which reached $1,464 million
  • The total transfers from abroad amounted to $602 million, of which 17% were the transfers to the government sector
Economy

Jordan to disburse $1.4m to drought-affected farmers

Jordan will distribute JD1 million to compensate those suffered losses due to the Al Waleh Dam draught and cross-border fires...
  • Jordan's cabinet had approved the disbursement of JD1 million in compensation from the Agricultural Risk Fund
  • Jordan as tasked specialized committees to limit the damages in the northern Jordan Valley and the Al-Wala Dam
Geostrategy

UAE residents can recycle used cooking oil at Bee’ah Tandeef machines

Waste management and environment company Bee’ah Tandeef has launched a service that allows people to recycle used cooking oil so...
  • Bee’ah Tandeef will turn the waste cooking oil into biodiesel that will be used to run its fleet of waste collection trucks.
  • The collection machine also dispenses a new empty bottle whenever a bottle is deposited.
Economy

Council of Arab Ministers declares Muscat Arab Digital Capital for 2022

Oman's capital Muscat will be the Arab Digital Capital for 2022, the Council of Arab Ministers for Communications and Information...
  • Oman had made cyber-security, digital innovation and digital capabilities development focus of its candidacy.
  • Oman's communications minister said that the decision reflects the confidence of Arab countries in the digital and legal capabilities of Oman.
Economy

Top 10 weather disasters cost $20bn more than last year: NGO

Each year, UK charity Christian Aid calculates the cost of weather incidents like flooding, fires, and heat waves according to...
  • Christian Aid said the upward trend reflects the effects of man-made climate change
  • It added that the 10 disasters in question also killed at least 1,075 people and displaced 1.3 million
Business

Ecommerce changes GCC buyers, sellers forever

As ecommerce expands, companies are becoming more aware of the region's shifting consumer behavior and needs, say experts.
  • Retailers in the region are becoming more aware of the necessity to create ‘brand.com’ sites
  • AR and AI will become more commonly used to improve the consumer experience
Economy

Afghanistan’s asset freeze hurts everyone

To avoid giving the Taliban access to Afghanistan's reserves, Washington froze an estimated $10 billion held by the central bank...
  • Ordinarily, the reserves could be dipped into to pay overdue government bills and development projects, but the freeze has trickled down to the rest of the economy.
  • The United Nations Security Council on Wednesday unanimously adopted a US resolution to help humanitarian aid reach desperate Afghans.
Economy

UAE and Spain discuss cooperation in renewable energy, water sectors

Spain and UAE have reviewed Dubai Electricity and Water Authority's achievements besides key projects and cooperation in the clean and...
  • The two sides also discussed initiatives and programs that consolidate the transition towards a green economy.
  • DEWA CEO Saeed Mohammed Al Tayer held a meeting with Iñigo de Palacio, Spain’s Ambassador to the UAE.
Economy

Saudi Arabia’s overall merchandise exports rise by 90 percent in Oct. 2021

Saudi Arabia’s overall merchandise exports increased by 90 percent in October 2021 compared to October 2020, when international trade was...
  • The value of exports amounted to SAR106.2 billion ($28.2 billion) in October 2021, up from SAR55.9 billion in October 2020.
  • The share of oil exports in total exports increased from 66.1 percent in October 2020 to 77.6 percent in October 2021.

Total value of Saudi Arabia’s export of dates reaches US$389m in 2023

RIYADH, SAUDI ARABIA - According to data released by the National Center for Palms and Dates (NCPD), the value of...
Business

Company News

Latest News

Jordan, World Bank sign US$250m agreement to boost water efficiency

Amman, Jordan--Jordan and the World Bank have signed a $250 million financing agreement for a water sector efficiency project in...
Economy

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...
Geostrategy

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,...
Economy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Economy

Prices for utilities, fuels rise 9 percent in June in Saudi Arabia

RIYADH, SAUDI ARABIA – Prices for housing, water, electricity, gas and other fuels in the Kingdom rose by 9.1 percent...
  • Restaurant and hotel prices went up by 4.3 percent and education up by 3 percent.
  • Clothing, shoe prices fell 2.9 percent, communication costs were down by 0.7 percent.
Economy

UNDP says over US$14bn needed to mitigate global surge in poverty

NEW YORK, US – In the last three years, poverty rates in low-and lower-middle-income countries have surged, with the number...
  • UNDP has called for adaptive social protection and a debt-poverty pause to redirect debt repayments toward critical social expenditures.
  • Almost all of these financially hit people live in low - and lower-middle-income economies, with the poorest 20 percent in low-income countries
Geostrategy

MBRGI joins UAE delegation, takes part in UN forum on sustainable development goals

DUBAI, UAE - Mohammed bin Rashid Al Maktoum Global Initiatives (MBRGI) joined the UAE delegation to the United Nations High-Level...
  • Established in 2012, the High-Level Political Forum is the UN’s central platform for the follow-up and review of the 2030 Agenda for SDGs at the global level.
  • The UAE delegation discussed ways to bolster mutual collaboration, strategic partnerships and knowledge-sharing, in line with MBRGI’s mission.