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.

Abu Dhabi sees 67% annual rise in number of AI company registrations

Abu Dhabi, UAE - The number of AI companies registered in Abu Dhabi grew at a compound annual rate of...

Economy

Arab League organizes workshop to discuss BRICS role in MENA region

Cairo, Egypt--The Arab League (AL) on Sunday organized a workshop in Cairo to discuss the role of BRICS for African...

Economy

IMF says Omicron could slow global growth

According to the economists, Omicron's threat to economy will likely be less severe than the previous waves.
  • The emergence of omicron led to a major crash in the global stock and oil markets in late November
  • WHO highlighted the issue of inequitable distribution of vaccines on several occasions
Economy

Iran non-oil export reaches $27b in 7 months

The deputy minister Mehdi Sadeqi Niaraki argued that production growth is one of the main strategies to develop the Islamic...
  • The country has allocated five billion dollars to remove obstacles in the way of exporting Iran-made products
  • According to statistical reports, 15 out of 25 industrial fields have experienced growth and the home appliances industry has seen an 8 percent growth
Geostrategy

UAE, France sign MoUs, $18bn Rafale deal

The agreements will boost the strategic partnership between the two countries to serve their mutual interests.
  • The agreements will boost the strategic partnership between the two countries to serve their mutual interests
  • The signing was attended by Crown Prince Sheikh Mohamed bin Zayed Al Nahyan and President of France Emmanuel Macron
Economy

Tunisia’s budget deficit narrows to nearly $1.3 billion at Sept end

Tunisia's budget deficit has narrowed to nearly 3.8 billion ($1.3 billion), at the end of September 2021, against 4.9 billion...
  • The decrease in the budget deficit is due to the increase in budgetary resources by 10.3 percent
  • The Ministry of Finance also reported the increase in cash resources by 18 percent to 12.8 billion dinars.
Economy

Capital Economics says Saudi economy will boom in Q4

Saudi Arabia will see a strong economic growth in the fourth quarter of 2021, due to a high oil production...
  • According to a report by Capital Economics some 9.76 million barrels per day were produced in October, broadly in line with pre-virus levels of output
  • Growth in local deliveries of cement – a proxy for construction activity – picked up in October
Economy

Annual Turkish inflation surges to 21.31% in November

Turkey's annual inflation rate jumped over 20 percent in November, official data showed Friday, after a currency crisis last month...
  • This is the highest figure in three years. Persistent inflation has decimated purchasing power
  • Ratings agency Fitch on Thursday revised its outlook on Turkey's sovereign credit rating to negative
Economy

IMF says chief economist taking top leadership role

Gopinath will succeed Geoffrey Okamoto as first deputy managing director, serving under IMF chief Kristalina Georgieva.
  • Gopinath will succeed Geoffrey Okamoto as first deputy managing director, serving under IMF chief Kristalina Georgieva
  • Gopinath, who was appointed to her current role in October 2018, was due to return to her position at Harvard University in January but will now leave the university
Business

London based firm seeks investment opportunities in Jordan

"Jordan represents a unique and strategic opportunity for global investors. We are looking forward to strengthening our ties further in...
  • This is a major move for RiverBay Capital on its mission to provide Europe with institutional access to markets in the Middle East
  • RiverBay Capital has successfully established itself as a bridge between real estate markets in Europe and the Middle East
Business

OPEC+ to increase output in January

The OPEC+ alliance led by Saudi Arabia and Russia had so far resisted US-led pressure to significantly boost output to...
  • Observers had expected the club to opt for a freeze in production for January, particularly after the emergence of the Omicron variant
  • But, the 13 members of OPEC and their 10 allies decided to stick with a modest increase in output of 400,000 barrels per day every month
Economy

OPEC Fund extends $80m loan to Afreximbank

The OPEC Fund’s support will assist in boosting Afreximbank’s liquidity to grow its loan portfolio as it finances exports and...
  • The OPEC Fund’s support will assist in boosting Afreximbank’s liquidity to grow its loan portfolio as it finances exports and imports in critical sectors across Africa
  • The OPEC Fund’s loan will help address some of the challenges, which are also impacted by the COVID 19 pandemic

Abu Dhabi sees 67% annual rise in number of AI company registrations

Abu Dhabi, UAE - The number of AI companies registered in Abu Dhabi grew at a compound annual rate of...
Economy

Company News

Latest News

GCC, API sign MoU to establish framework for cooperation

Riyadh, Saudi Arabia-- Seeking to establish a broad framework for cooperation in several areas, the GCC and the Arab Planning...
Economy

Most world stock markets advance as US inflation data looms

London, United Kingdom - World stock markets mostly rose Wednesday as investors jockeyed for position before key US inflation data. London...
Business

Broadcom to acquire VMware after EU okays deal

BRUSSELS, BELGIUM- The European Commission approved US chipmaker Broadcom's planned $61 billion takeover of cloud computing firm VMware on Wednesday, conditional...
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Economy

Pakistan gets $1 billion boost from UAE ahead of key IMF decision

The deposit comes a day after Saudi Arabia transferred $2 billion to Islamabad and brings the state's foreign reserves to...
  • Inflation has rocketed, the rupee has plummeted, and the country is struggling to afford imports, causing a severe decline in industrial output.
  • Securing financial support from friendly nations has been a key condition of the IMF for approving a new standby deal for Pakistan worth $3 billion.
Business

Agthia Group launches Agthia Ventures

New firm is a $54 million corporate venture capital fund.
  • Funded by Agthia and its parent company ADQ, Agthia Ventures will be managed together with Touchdown Ventures.
  • Agthia Ventures will help entrepreneurs through access to the firm’s extensive industry knowledge, diverse distribution networks.
Business

Yahsat to invest US$100m

It is for capital expenditure of T4-NGS satellite program.
  • The program, the next-generation telecommunications system for Thuraya, is scheduled to begin operational service in H1 2025.
  • The total cost of the program is up to $550 million, including manufacturing, launch, insurance and new ground infrastructure.