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.

UAE sets innovative media policy to propel the country onto global stage

DUBAI – Sheikh Abdulla bin Mohammed Al Hamed, Chairman of the UAE Media Council (UAEMC), has approved a comprehensive legislative...

Economy

Bitcoin surpasses $57,000 as crypto rally remains strong

Dubai, UAE - The price of Bitcoin on Tuesday surged past $57,000, demonstrating the continued strength of the cryptocurrency market...

Business
Economy

67 countries reach ‘historic’ deal on trade in services at WTO

Washington hailed Thursday's deal in a statement, saying it would "improve the transparency and fairness of processes for obtaining authorisations...
  • The countries, which account for just over a third of all WTO members, concluded the accord after four years of negotiations
  • WTO chief Ngozi Okonjo-Iweala hailed the deal as "historic", saying it would lower the costs associated with the services trade by as much as $150 billion each year
Arts & Culture

Saudi Arabia’s Rijal Almaa in list of best tourist villages in world

UNWTO selected Rijal Almaa among 175 participating entities representing 75 countries.
  • UNWTO selected Rijal Almaa among 175 participating entities representing 75 countries
  • The village consists of 60 multi-storey palaces, built of natural mud stone and wood
Economy

Escaping slow death in Beirut, Lebanese embrace farm life

Lebanon's unprecedented economic crisis and the coronavirus pandemic have dimmed the cosmopolitan appeal of the capital.
  • Lebanon's unprecedented economic crisis and the coronavirus pandemic have dimmed the cosmopolitan appeal of the capital
  • A long-standing trend towards rapid urbanisation seems to be slowing partly due to diminishing job prospects in major cities
Business

European Union fines major banks 344 million euros over forex cartel

Brussels slapped fines totaling 344 million euros (390 million dollars) Thursday on Barclays, RBS, HSBC and Credit Suisse after finding...
  • Barclays, RBS, HSBC and Credit Suisse were fined and UBS's fine was reduced to zero as it voluntarily came forward to cooperate with regulators.
  • These fines brought to an end the third part of an investigation that has been ongoing since 2013 and which had already resulted in more than one billion euros in fines in 2019.
Economy

EBRD launches e-learning program on capital markets in Morocco

The European Bank for Reconstruction and Development (EBRD) has said it will support the Moroccan financial system by launching an...
  • Participants’ progress will be tracked on a learning management system and given a certificate on completion of training.
  • The participants would learn about managing and pricing credit risk, raising funds via fixed-income and money markets.
Economy

Jordan, FAO forge technical partnership on irrigation

Under the agreement, a mobile irrigation application will be developed to serve Jordanian farmers, specifically in the Jordan Valley.
  • Under the agreement, a mobile irrigation application will be developed to serve Jordanian farmers, specifically in the Jordan Valley
  • The application will provide the farmers with accurate scientific information on irrigation dates and the required quantities of water
Economy

Saudi Arabia, UAE report first Omicron cases in Gulf

Saudi Arabi on Wednesday recorded its first case of Omicron variant infection, in a citizen its health ministry said had...
  • The variant was first announced by South Africa but has since been discovered to have been present earlier in Europe
  • It has prompted governments around the globe to reimpose travel restrictions, despite warnings from the WHO against such a move
Economy

Tel Aviv residents face soaring costs in world’s priciest city

Israel's cultural capital Tel Aviv is now more expensive than Paris, Singapore, Zurich, Hong Kong and New York.
  • Israel's cultural capital Tel Aviv is now more expensive than Paris, Singapore, Zurich, Hong Kong and New York
  • It climbed the list partly due to the strength of the national currency, the shekel, against the dollar, as well as increases in prices for transport and groceries
Economy

Turkey’s Erdogan replaces finance minister amid economic turmoil

Turkish president accepted the resignation of Lutfi Elvan and appointed his deputy Nureddin Nebati as the new finance minister.
  • Turkish president accepted the resignation of Lutfi Elvan and appointed his deputy Nureddin Nebati as the new finance minister
  • Since 2019, Erdogan has sacked three central bank governors who opposed his desire for lower interest rates
Economy

S&P devises new credit rating scale for Saudi Arabia

S&P Global Ratings has introduced a new national credit rating scale for Saudi Arabia in response to a growing interest...
  • The new scheme will help identify the creditworthiness of local loan takers, and comes as Saudi Arabia pursues policies of economic diversification
  • S&P said the rating scale will be complementary to the one used globally, with the methodology “generally the same” as the international-focused system

UAE sets innovative media policy to propel the country onto global stage

DUBAI – Sheikh Abdulla bin Mohammed Al Hamed, Chairman of the UAE Media Council (UAEMC), has approved a comprehensive legislative...
Economy

Company News

Latest News

OECD says sizeable progress made on sharing tax revenue on multinationals

Nearly 140 countries have taken a first step towards reaching agreement on a fairer distribution of tax revenues from multinational...
Business

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...
Economy

Agthia Group launches Agthia Ventures

New firm is a $54 million corporate venture capital fund.
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Business

Dubai Chambers launches program to enhance customer service

DUBAI, UAE – Dubai Chambers is taking a big initiative for ensuring that businesses in the emirate provide excellent customer...
  • Service Excellence Program will evaluate the quality of customer experience through mystery shopper reports.
  • The initiative will ensure the implementation of global best practices within Dubai’s business community.
Business

Multiply Group buys stake

A minority stake in Breakwater Energy cost it US$100m.
  • The group by virtue of its new acquisition will become part owner of a profitable and cash-generative, diversified global upstream portfolio
  • It poured some US$2.72 billion last year into Abu Dhabi National Energy Company (TAQA), an integrated utility champion in the EMEA region
Business

ROSHN inks MoU with Expro to develop real estate in Saudi Arabia

Riyadh, Saudi Arabia--ROSHN, the Saudi real estate developer, has signed a memorandum of understanding (MoU) with the Expenditure and Project Efficiency...
  • The partnership between the two will increase the sustainability of the PIF-backed giga project and also ramp up its activities
  • The cooperation with leading groups in the nonprofit sector is designed to lift up the quality of life for the underprivileged families