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

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

Bitcoin faces uncertain 2022 after record year

Having more than trebled in value to $60,000 between December 2020 and April, bitcoin has lost some shine to trade...
  • Having more than trebled in value to $60,000 between December 2020 and April, bitcoin has lost some shine to trade at under $50,000 heading into the new year
  • The record high in April occurred with the stock market debut of cryptocurrency exchange Coinbase.
Economy

2021: Oil price hike rescues Covid-hit GCC economy

International oil prices surged by around 36.5 percent and reached a 7-year peak, exceeding US$ 82 a barrel at the...
  • International oil prices surged by around 36.5 percent and reached a 7-year peak, exceeding US$ 82 a barrel at the end of November 2021, the highest level since October 2014
  • Increased demand from major oil consumers like China, South Korea, India, and the European Union was responsible for the rise.
Geostrategy

Armenia to lift ban on Turkish imports as envoys set to meet

Earlier this month Turkey and Armenia named special representatives to work on the normalisation of ties.Turkey will be represented by...
  • Arch-enemies Armenia and Turkey have recently made tentative moves to improve relations
  • Arch-enemies Armenia and Turkey have recently made tentative moves to improve relations
Geostrategy

Critics of Turkish lira slide threatened with lawsuit

Finance Minister Nureddin Nebati urged citizens to sue economists who comment on social media about the lira's slide. His remarks...
  • Lira entered a tailspin that saw it lose nearly half its value from the start of November to the moment President Erdogan announced new currency support measures last week.
  • Nebati accused the commentators of using "psychological warfare" by urging Turks to buy gold and dollars in order to preserve their savings against further lira declines.
Economy

CBUAE fines exchange house $160,000 for using civilian vehicle to transport money

The exchange house used a civilian vehicle to transport the money instead of using Cash-in-Transit Agent.
  • The exchange house used a civilian vehicle to transport the money instead of using Cash-in-Transit Agent
  • The CBUAE works to ensure that all licensed financial institutions operating in the UAE, including exchange houses, abide by UAE laws
Arts & Culture

Aleppo bathhouse boom as Syria crisis turns showers cold

The ancient bathhouses of Syria's second city Aleppo are filling up again, not because of a revived fad, but due...
  • With their marble steam rooms, hexagonal fountains and distinctive domes, Aleppo's bathhouses have for centuries served as a social hub
  • Shortages of water, fuel and electricity across war-torn Syria have also turned them into a refuge for those looking for a long, warm bath during the cold winter.
Economy

Jordan signs pact with Germany, EU to build water projects

The project will improve wastewater treatment and environmentally friendly sludge disposal.
  • The project will improve wastewater treatment and environmentally friendly sludge disposal.
  • The value of the EU’s bilateral support to the water and sanitation sector in Jordan is over 150 million euros
Economy

Jordan approves measures to stabilize commodities prices

Procedures, approved in a session chaired by Prime Minister, Bisher Khasawneh, included reducing inspection fees on imported foodstuffs by 30...
  • Procedures, approved in a session chaired by Prime Minister, Bisher Khasawneh, included reducing inspection fees on imported foodstuffs by 30 percent for three months
  • The procedures also included reducing customs duties on some basic foodstuffs, increasing work efficiency and expediting completion of customs transactions, inspecting containers
Geostrategy

Years after war, health sector ailing in Iraq’s Mosul

Apart from the hospitals, the rest of Mosul is also struggling to regain a sense of normalcy. Residents crowd into...
  • The former stronghold of the Islamic State group, Mosul was devastated by the battle to oust the jihadists that ended in summer 2017
  • More than four years on, the northern metropolis remains a patchwork of gutted concrete carcasses interspersed between buildings under construction
Economy

Libya orders arrest of second minister for financial irregularities

Prosecutors had already questioned Culture Minister Mabrouka Touki before the order was issued to detain her on charges of ‘falsifying...
  • The culture minister, an academic with a degree in nuclear physics, was appointed in March as part of the interim unity government
  • The probe relates to alleged graft over a contract for maintenance works on ministry buildings which had already been refurbished last year

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

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...
Economy

Saudi Arabia’s exports to Turkey hit $13.93 billion in three years

Riyadh, Saudi Arabia -- Saudi Arabia’s exports to Turkey during the past three years amounted to SAR 52.280 billion ($13.93 billion),...
Business

Dubai issues law to regulate urban planning for sustainable development

Dubai, UAE -- Dubai Ruler Sheikh Mohammed bin Rashid Al Maktoum has issued a law (No. 16 of 2023) to...
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Economy

Trade hits new high as GCC-Japan ties get warmer

Japan's exports to the Gulf countries include automobiles, machinery, iron and steel, electrical machinery, rubber, textiles, visual goods, and foodstuffs.
  • In 2020, Gulf countries' imports from Japan were estimated to be around $17.3 billion, down from $24.3 billion in 2018
  • Japan's exports to the Gulf countries include automobiles, machinery, iron and steel, electrical machinery, rubber, textiles, visual goods, and foodstuffs
Economy

Qatari small and medium-sized companies sign deals worth US$201m in H1

Doha, Qatar--Small and medium-sized companies in Qatar have signed deals worth $201 million during the first half of 2023, benefiting...
  • Tasdeer said that many Qatari companies took part in international exhibitions and trade missions, including Gulf and Arab markets as well as Turkey and India
  • It is eager to continue its programs seeking to accelerate the development of the private sector in line with the National Vision of Qatar 2030
Economy

Saudi Arabia and Bahrain to collaborate on speeding up sustainable development

New York, US--Saudi Arabia and Bahrain are looking to collaborate in order to speed up the sustainable development goals, aligning...
  • The discussion took place in New York on the sidelines of the United Nations High Level Political Forum on Sustainable Development 2023
  • The ministers spoke at length about the he innovative practices adopted by the two countries for achieving sustainable development and deepening their expertise