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

Dubai Chambers, DP World partner to lure global investment to the emirate

Dubai, UAE--Dubai Chambers has signed a memorandum of understanding (MoU) with DP World to enable the chambers to leverage DP...

Economy

China sets ambitious 5 percent growth target for 2024

Premier Li Qiang formally announced the growth objective, alongside the overall budget and key government policies for 2024, at China's...

Economy
Economy

School of Government and ADGM Academy launch investment program

The Abu Dhabi School of Government (ADSG) and Abu Dhabi Global Market Academy (ADGM Academy) have launched the ‘Investment Foundations'...
  • The program aimed at equiping Abu Dhabi government employees with knowledge and skills related to finance, ethics, and investment practices.
  • Participants will receive a certification jointly accredited by the ADSG and Abu Dhabi Global Market Academy.
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

Dubai Chambers, DP World partner to lure global investment to the emirate

Dubai, UAE--Dubai Chambers has signed a memorandum of understanding (MoU) with DP World to enable the chambers to leverage DP...
Economy

Company News

Latest News

Rich-poor split could tighten ‘grip of poverty’: World Bank chief

The G20 talks come after Russia on Monday refused to extend a deal allowing critical Ukrainian grain exports through the...
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.
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...
Economy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Business

Qatar: Commercial Bank profit rises by 8.5%, Masraf Al Rayan’s dips by 24%

Doha, UAE - The Commercial Bank, a Qatari public shareholding company, experienced an 8.5 percent upswing in net profit, reaching...
  • The figures issued by the bank website showed an increase in the EPS of Commercial Bank of QR 0.37 ($0.10) in the first half of 2023
  • The financial statement of Masraf Al Rayan revealed a decline in net profits by 24 percent, to $207.12 million in H1 2023
Economy

Egypt building collapse kills eight residents in capital

According to state media and the public prosecution, eight people including seven members of one family were killed in Cairo...
  • Many buildings in central Cairo dating back to the 19th and early 20th centuries are in dilipidated condition
  • There have been many building collapses in recent years in Egypt due to non-compliance with regulations
Economy

UAE ranks first in Arab region and 29th globally in UN Industrial Performance Index

Abu Dhabi, UAE - The United Arab Emirates (UAE) has secured the top spot in the Arab region and risen...
  • This index gauges and compares the strength of industrial competitiveness within countries
  • The UAE has remained in the CIP’s top quintile, reflecting its position as a regional and global player in the industrial sector