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

Saudi Arabia takes the lead in global road connectivity rankings: minister

Riyadh, Saudi Arabia - Saudi Arabia has earned the distinction of being the world's most connected country in terms of...

Economy

UAE vital to enhancing global economic growth: Officials

Abu Dhabi, UAE-- The UAE has expanded its network of trading partners around the world through comprehensive economic partnerships, contributing...

Economy
Economy

UAE taps Harvard lab to help build its economy

The new partnership between Harvard university’s Growth lab and the UAE’s Ministry of Economy is in line with the government’s...
  • The UAE signed agreement with Harvard’s Growth Lab, specialized in theoretical and empirical research on determinants of growth
  • The two-year program under the agreement will see academic experts conduct evidence-based economic analyses and research
Business

Binance may move to Dubai as part of crypto deal

TRENDS broke this news in October. The agreement will regulate the offering, issuance, listing and trading of encrypted assets of...
  • TRENDS broke this news in October. The agreement will regulate the offering, issuance, listing and trading of encrypted assets of the firm that is based in Seychelles.
  • Dubai is competing with Singapore, Switzerland, and other countries to become a worldwide hub for digital currency by developing a crypto-currency free-trade zone
Geostrategy

GCC Summit issues Riyadh Declaration

The region’s common economic, defense and security integration and unity and coordinating stances were reviewed at the 42nd GCC Summit.
  • They Gulf leaders seek to enhance solidarity and stability among GCC member states
  • The Supreme Council will hold its 43rd session under Oman’s presidency
Geostrategy

Cooperation, security remain focus of GCC summit

The GCC leaders discuss political issues and security challenges that require intensified efforts to enhance regional solidarity.
  • The GCC leaders discuss political issues and security challenges that require intensified efforts to enhance regional solidarity
  • The 42nd session of the Supreme Council of the GCC countries, chaired by Saudi Arabia, seeks to strengthen the process of cooperation
Economy

IEA sees ‘more comfortable’ year for oil market in 2022

The Omicron coronavirus variant will slow the recovery in global demand for oil but the market will be "more comfortable"...
  • The IEA said it had revised downwards its forecast for global oil demand by an average of 100,000 bpd for 2021 and 2022.
  • The surge in new Covid-19 cases is expected to temporarily slow, but not upend, the recovery in oil demand.
Economy

Jordan, USAID sign two agreements worth $597m

Jordan Minister of Planning and International Cooperation Nasser Shraideh and USAID Jordan Mission Director Sherry Carlin signed the agreements.
  • Jordan Minister of Planning and International Cooperation Nasser Shraideh and USAID Jordan Mission Director Sherry Carlin signed the agreements
  • Under one of the agreements, the US government will transfer the second and final installment, of $245 million from its $845 million US cash grant to the Kingdom in 2021

Russia vetoes UN resolution on climate change as global security threat

China abstained, while India voted against, arguing that global warming was chiefly an issue related to economic development, rather than...
  • China abstained, while India voted against, arguing that global warming was chiefly an issue related to economic development, rather than international security
  • The resolution had called on the UN chief to report within two years "on the security implications" of climate change on issues addressed by the Security Council
Economy

CBUAE mulls Emiratisation of leading banking, insurance professions

The proposal was mooted at the apex bank's fifth board meeting chaired by Sheikh Mansour bin Zayed Al Nahyan, Deputy...
  • The board approved the CBUAE's projected budget for the year 2022
  • The bank also approved criteria of the UAE banks' loan exposure to realty sector
Business

Trade between Mexico and UAE grew by 38 percent in last five years

Mexico-UAE bilateral trade has witnessed an approximate 38 percent upsurge in the past five years (2016-2020), a senior Mexican official...
  • The bilateral trade between 2016 and 2020 registered an average annual growth rate of 6.7 percent, from $511m in 2016 to $705.1m in 2020.
  • Mexico has the capacity to be a strategic partner for it in the agri-food sector, said Martha Delgado Mexican Vice Minister for Multilateral Affairs.
Economy

Abu Dhabi Investment Office concludes investor interaction program

The Abu Dhabi Investment Office (ADIO) has connected with hundreds of global business leaders, entrepreneurs and innovators in a series...
  • A series of six inaugural events by its international offices discussed expansion opportunities to the UAE capital.
  • ADIO’s offices in London, Paris, Beijing, Seoul, New York and San Francisco each organized an event.

Saudi Arabia takes the lead in global road connectivity rankings: minister

Riyadh, Saudi Arabia - Saudi Arabia has earned the distinction of being the world's most connected country in terms of...
Economy

Company News

Latest News

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...
Economy

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...
Geostrategy

Morocco, Shell sign 12-year natural gas deal: ministry

Morocco has sought to diversify its energy sources particularly since neighbouring Algeria stopped supplying natural gas via the GME in...
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Economy

UAE, India join forces to bolster new economy sectors

"The Emirati-Indian economic cooperation is gaining increasing momentum in sectors of the circular economy, tourism, aviation, entrepreneurship, small and medium...
  • The collaboration between India and the UAE aims to boost the GDP of both countries by empowering startups, says UAE's Minister of Economy Abdullah bin Touq Al Marri
  • The countries vow to expand cooperation in areas such as the circular economy, aviation, SMEs, renewable energy, technology, digital transformation, and transportation, he adds
Business

CBD H1 2023 net profit $133m

Profit is a 41.5 percent jump compared to H1 2022.
  • This remarkable growth in net profit is attributed to outstanding revenue contribution across net interest and other operating income.
  • The economic outlook for the UAE and business confidence continue to be encouraging, powered by buoyant domestic activity.
Geostrategy

Ukraine grain deal failed to achieve objective, says Putin

Russian President Vladimir Putin said the main objective of the deal that allowed Ukrainian grain exports to resume was not...
  • A memorandum on unhindered Russian food and fertilizer exports had been signed in parallel to the grain deal.
  • "The main goal of the deal, namely the supply of grain to countries in need, including on the African continent, has not been implemented," Putin said.