INSEAD Day 4 - 728x90

Economy

Alpha Dhabi profit jumps 48%

AI and technology investments boost earnings.

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

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

Swiss central bank posts 2023 loss

The bank has raised its interest rates to tame inflation..

Geostrategy

UN agency says to cut food aid to Yemen for want of funds

Yemen has been devastated by a civil war between the Saudi-backed government and Iran-backed Huthi rebels since 2014.
  • Yemen has been devastated by a civil war between the Saudi-backed government and Iran-backed Huthi rebels since 2014
  • The fighting has killed tens of thousands, displaced millions and left some 80 percent of Yemenis dependent on aid
Business

Indian Minister says UAE most popular tourist destination for his countrymen

The UAE is the most popular destination in the world for Indian tourists, according to figures submitted to Indian Parliament...
  • The second and third most popular destinations for Indians were Thailand and Bangladesh, but their figures were way below those of the UAE.
  • The Minister confirmed that 314,495 Indians left on tourist visas for the UAE in the first quarter of this year.
Geostrategy

Natural gas prices hit fresh record peaks on strong winter demand

European and UK gas prices rocketed Tuesday to all-time highs on strong winter demand and simmering geopolitical tensions between key...
  • European and UK markets beat previous records from October. They are currently about eight times greater than at the start of 2021.
  • Runaway spot gas prices, alongside other buoyant commodities including crude oil, have fueled mounting concern about spiking inflation worldwide.
Economy

Lebanon needs $12-15 billion to kickstart recovery: Central Bank

Lebanon needs to receive 12 to 15 billion dollars from its partners to kickstart its economic recovery and shore up...
  • Lebanon is grappling with an unprecedented economic crisis branded by the World Bank as one of the planet's worst in modern times.
  • Lebanon defaulted on its debt for the first time last year but political leaders have continued to resist key reforms demanded by donors to unlock necessary funds.
Economy

Foreign shoppers swarm Turkey after lira crash, rush likely to increase

Local traders say that the number of foreign shoppers has risen four to fivefold. Turkey's lira has crashed after Erdogan...
  • Some of Europe's poorest countries -- go to stock up on everything from underwear to walnuts at a fraction of their cost back home
  • Erdogan is betting that a cheap lira will create exports-driven growth that puts Turkey on a path followed by China during an economic transformation
Business

How can GCC companies respond to Global Minimum Tax rules?

The OECD rules will ensure that multinational corporations pay a minimum 15% tax rate from 2023.
  • The OECD rules will ensure that multinational corporations pay a minimum 15% tax rate from 2023
  • The Pillar Two model rules provide governments a template to address the tax challenges arising from digitalisation of the economy
Analysis

Growing Islamophobia hits Islamic banking in Europe

The $2.2-trillion Islamic finance industry is set to take off in a big way across the world as it recovers...
  • The EU is believed to be home to close to 28 million Muslims, who may hold close to $1,247 billion in wealth
  • The Islamic finance industry has failed to make any impact in Germany and France with relatively large Muslims populations
Economy

China Mobile eyes Shanghai IPO

China Mobile is set to raise $7.64 billion in share listing.
  • The 48.7 billion yuan initial public offering would be one of the largest on China's domestic stock markets for a decade
  • China's largest wireless carrier by revenue was removed from the New York Stock Exchange this year along with fellow state-owned telecoms firms China Telecom and China Unicom
Economy

Is GCC inflation out of control?

The main reason for high inflation rates in the GCC countries is a rebound in prices in the sectors that...
  • Food and beverages in Kuwait accounted for a whopping increase in prices, while education costs decreased 15.46 percent
  • Saudi Arabia’s annual inflation increase is due to a 6.4 percent growth in transportation costs and a 1.4 percent rise in food and beverage prices
Economy

Turkish lira makes rare gains on ‘indirect’ rate hike

Turkey's troubled lira on Monday pared back some of its historic losses after President Recep Tayyip Erdogan announced new currency...
  • Erdogan announced a complex series of measures Monday aimed at boosting the lira
  • The lira reversed a 10 percent loss Monday into a 10 percent gain after Erdogan's announcement

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

Company News

Latest News

DSCE gets ISO 50001, net-zero certifications for sustainable energy management

DUBAI, UAE - The Dubai Supreme Council of Energy (DSCE) has received the ISO 50001:2018 in energy management systems and...
Business

Global debt dominates as G20 finance chiefs meet in India

Indian Finance Minister Nirmala Sitharaman, chair and host of the summit in Gandhinagar, began by telling finance leaders of "the...
Economy

Standard Chartered sells Africa business

It sold the sub-Saharan Africa business to Access Bank.
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Geostrategy

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...
  • Purchasing power in the import-dependent economy has been slashed as families struggle to make ends meet
  • New arrivals from Sudan face hardships, with realtors reporting a sharp increase in demand in Egypt's Cairo
Economy

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...
  • GCC Secretary-General Jassem Mohamed Albudaiwi met with Prime Minister of Japan Fumio Kishida for talks and later their representatives signed a joint statement
  • GCC secretary general said Japan's exports from the GCC countries touched $76.7 billion and its imports to the GCC was valued at $22 billion
Economy

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...
  • Nearly $200 million of the amount will be a soft loan from the International Bank for Reconstruction and Development, and $50 million will be in the form of a grant
  • The Jordanian minister praised the World Bank for its partnership with the kingdom's government and support for reform and development needs in the country