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

Tunisians take to streets to protest economic woes

Head of Tunisia's trade union confederation Noureddine Taboubi said in a speech to protestors that the economic and social situation...

Economy

Total value of Saudi Arabia’s export of dates reaches US$389m in 2023

RIYADH, SAUDI ARABIA - According to data released by the National Center for Palms and Dates (NCPD), the value of...

Business
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
Economy

Erdogan defends ‘risky but correct’ economic policy

Turkish President Recep Tayyip Erdogan on Wednesday defended his "risky but correct" economic policy of low interest rates, as the...
  • Under pressure from Erdogan, the central bank has made a series of interest rate cuts since September despite double-digit inflation
  • The Turkish leader goes against conventional economic thinking to claim high interest rates cause high inflation, and vowed again to keep the main rate low
Economy

OECD cuts world growth forecast, warns of Omicron threat

The OECD warned Wednesday that the Omicron coronavirus variant threatens the global economic recovery as it lowered the growth outlook...
  • The global economy is now expected to expand by 5.6 percent this year, down from an earlier forecast of 5.7 percent
  • Its forecast for 2022 remains unchanged at 4.5 percent, but the report was released only days after Omicron was detected
Economy

‘Physical currency won’t disappear anytime soon’

Ralf Wintergerst, Group CEO of 170-year-old German firm Giesecke+Devrient (G+D), said physical currency is a resilient form of payment and...
  • Ralf Wintergerst said digital currency is a central bank-issued digital form of physical money and that it was different from cryptocurrency.
  • In Germany and the Middle East there are a lot of opportunities for moving things like government services to people directly with digital solutions.
Economy

Iraq’s ‘wasta’ system favors lucky few, frustrates many

Youth in Iraq get job through “wasta,” the system of “who you know” that has become Iraq’s pervasive scourge.
  • Youth in Iraq get job through “wasta,” the system of “who you know” that has become Iraq’s pervasive scourge
  • The practice has fueled frustration, mass anti-government protests and waves of emigration from the oil-rich, war-scarred and poverty-stricken country
Economy

Canada bans travelers from Egypt, Nigeria, Malawi over Omicron fears

All travelers flying to Canada need to be tested at the airport upon landing except for the US.
  • All travelers flying to Canada need to be tested at the airport upon landing except for the US
  • Unvaccinated people can no longer board airplanes or ride trains in Canada
Economy

FCSC documents UAE’s success since discovery of oil in 1950s

In its new report to be published soon, titled "The UAE: Data Documenting the Journey until 2020", the Federal Competitiveness...
  • The report highlighted a significant rise in the country’s GDP from AED58.3 billion in 1975 to over AED1.3 trillion in 2020
  • The contribution of non-oil sectors to GDP surged from 43 percent in 1975 to 83 percent in 2020
Market Report

Asian markets mostly up, oil rallies as virus and Fed hold attention

A mild recovery from the previous two days' steep losses was turned on its head in the region on Tuesday...
  • With medical experts saying the full outlook for Omicron was still being assessed, analysts said markets would remain volatile
  • Crude which was pummelled Friday and again Tuesday also enjoyed some advances with both main contracts up more than two percent
Economy

Tech 2022 trends: Meatless meat, Web 3.0, Big Tech battles

Meat alternatives have become common in an increasing number of US households, thanks in part to Beyond Meat and Impossible...
  • Meat alternatives have become common in an increasing number of US households, thanks in part to Beyond Meat and Impossible Food plant-based products
  • In web 3.0, "users, creators and developers would have stakes and votes" in a platform in much the way a cooperative works

Tunisians take to streets to protest economic woes

Head of Tunisia's trade union confederation Noureddine Taboubi said in a speech to protestors that the economic and social situation...
Economy

Company News

Latest News

ExxonMobil to buy Denbury

ExxonMobil will acquire Denbury for $4.9 billion.
Business

Sweltering heat leaves Gulf residents at risk during noon

DUBAI, UAE- As much of the world swelters in record temperatures, spare a thought for Issam Genedi, who ekes out a...
Arts & Culture

Tunisia protestors demand jailed opposition figures be freed

Around 100 protesters rallied in Tunisia's capital to demand freedom for detained critics of President Kais Saied who has ruled...
Geostrategy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Opinion

US is on course for soft landing, may avoid recession

During periods of economic stability, government focus typically gravitates towards infrastructure development. Investments in sectors like construction, transportation, energy, utilities,...
  • The Consumer Price Index (CPI) rose just 0.2% in June and was up 3% from a year ago, says Nigel Green, the CEO and Founder of deVere Group
  • The Federal Reserve seems to be successfully controlling inflation without pushing the United States into a recession, opines Nigel Green
Business

DEWA given Net-Zero statement of verification for work on climate change

DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) has received the net-zero statement of verification and assurance certificate in...
  • This followed a comprehensive assessment conducted by W3 Solutionz - US based on the International Workshop Agreement Guidelines IWA 42:2022.
  • The Net Zero Guidelines were commissioned by Our 2050 World, a global collaboration to accelerate action towards net zero through standards.
Economy

SCA and UBF sign MoU to strengthen UAE’s asset management industry

Abu Dhabi, UAE--The Securities and Commodities Authority (SCA) has signed a memorandum of understanding (MoU) with the UAE Banks Federation...
  • The MoU looks to set up the UAE as a major attraction for asset and wealth management corresponding with the government's aspirations for the next 50 years
  • Both the parties, under the terms of the MoU, resolved to cooperate and share expertise and studies aimed at improving the local asset management sector