INSEAD Day 4 - 728x90

Economy

Alpha Dhabi profit jumps 48%

AI and technology investments boost earnings.

Agthia profit, dividend jump

Transformation lifts earnings, cash generation.

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.

KSA beats economic challenges with non-oil revenue

Anticipated growth in non-oil sectors, including tourism, manufacturing, and financial services, is set to drive future economic expansion, says a...

Economy

WTO ministers struggle to forge deals as talks go into overtime

ABU DHABI, UAE – World trade ministers were locked in disagreement Thursday on fisheries subsidies, agriculture and digital customs duties as...

Geostrategy
Economy

Robots, big data as Gulf nations bet on AI

The annual growth rate of the Middle East AI market is about 20 to 34 percent, led by the UAE...
  • The annual growth rate of the Middle East AI market is about 20 to 34 percent, led by the UAE and then Saudi Arabia
  • PwC said in a report that more than 10 percent of the GDP of Saudi Arabia and the UAE will come from AI by 2030
Business

Dubai Free Port: A super vault for VIP travellers, HNWIs

The super vault presents a variety of top custody and security services. It features automatic robot-driven, safe-deposit boxes, medium and...
  • Mohammed Bin Rashid Aerospace Hub commissioned Athena Security to develop the project on 17,000 square-metre plots adjacent to the VIP Terminal in Dubai South
  • Athena partnered with Leading Swiss Premium Vault to lend its expertise in quality, security and compliance to the project.
Business

OXAGON, largest floating industrial complex in the world, launched in Saudi Arabia

The project forms the next phase of NEOM’s master plan and represents a radical new model for future manufacturing centers.
  • The project forms the next phase of NEOM’s master plan and represents a radical new model for future manufacturing centers
  • OXAGON will establish the world’s first fully integrated port and supply chain ecosystem for NEOM
Economy

UAE, Israel in talks to sign comprehensive economic pact

The announcement was made via video conferencing on Tuesday by Abdullah bin Touq Al Marri and Orna Barbivai, Israeli Minister...
  • The partnership between the two countries will reinforce their economic ties, promote trade, increase new investment opportunities for companies
  • Trade exchange between the two countries from the signing of the peace accord in September 2020 until the end of September 2021 has been around AED3.5 billion
Economy

DFM incentivizes IPOs from companies in key growth sectors

The program encompasses unprecedented incentives including financial support to the cost of private companies’ IPOs on DFM’s Main Market and...
  • The new program is in line with the efforts to strengthen Dubai’s position as global capital markets hub
  • The DFM seeks to attract companies from sectors such as Technology, Transport & Logistics, Healthcare, Pharmaceutical, Manufacturing, and Agri-Tech
Economy

Turkey’s troubled lira accelerates record slide

It fell nearly four percent to 10.41 to the dollar before clawing back some of its losses ahead of a...
  • The central bank has lowered its policy rate by 300 basis points to 16 percent since August
  • Even big businesses have started to express alarm that Turkey may be spiralling towards a currency crisis
Business

Dubai launches five-year multi-entry visa for MNCs

The visa will enable MNC employees to participate in events, conferences, training courses, exhibitions and similar activities hosted in the...
  • The visa allows them to stay in the UAE for 90 days, with the option of extending their stay for another 90 days.
  • Between January and September 2021, Dubai received around 3.85 million international visitors.
Economy

Turkey’s troubled lira accelerates record slide

The Turkish lira suffered one of its biggest falls of the year on Tuesday and hit new historic lows to...
  • The lira fell by nearly four percent to 10.36 to the dollar before clawing back some of its losses ahead of a meeting
  • Turkey's nominally-independent bank has bowed to incessant pressure from President Recep Tayyip Erdogan to drive down the cost of doing business in order to stimulate growth
Business

Emirates expects to return to profit in ‘next 18 months’ as losses drop by half

Aviation giant Emirates expects to return to profitability "in the next 18 months" as the sector bounces back from the...
  • The Dubai-based carrier said last week it was on the path to recovery as six-month losses dropped by more than half from a year earlier.
  • Emirates posted an April-September loss of $1.6 billion, compared with $3.4 billion during the same period in 2020.
Market Report

Asian markets mixed with focus on inflation, Biden-Xi summit

Global markets have enjoyed about 18 months of healthy gains with many hitting record or multi-year highs .
  • Global markets have enjoyed about 18 months of healthy gains with many hitting record or multi-year highs
  • But with the recovery well on track and people returning to a semblance of normality, inflation is surging to levels not seen in decades

KSA beats economic challenges with non-oil revenue

Anticipated growth in non-oil sectors, including tourism, manufacturing, and financial services, is set to drive future economic expansion, says a...
Economy

Company News

Latest News

E-visas to drive tourism’s GDP share to 10%

Saudi Arabia is leveraging digital solutions to streamline travel, link tourists with local enterprises through apps, and enhance experiences via...
Economy

Wall Street stocks up amid signs of broadening in equity market

New York, United States - Wall Street stocks mostly rose early Tuesday amid signs of greater broadening in the equity market...
Business

Dubai Investments, E20 Investment to develop agricultural land in Angola

Dubai, UAE--Dubai Investments and E20 Investment have signed a memorandum of understanding (MOU) to develop 3,750 Ha of agricultural land...
Economy
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INSEAD Day 4- 300x600

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Economy

UAE bolsters AI integration to boost competitiveness

"The UAE government prioritizes keeping pace with global advancements to proactively address opportunities and challenges," adds Al Olama. "This priority...
  • UAE renews commitment to embracing artificial intelligence solutions across various sectors, says UAE minister Omar bin Sultan Al Olama
  • The UAE government prioritizes keeping pace with global advancements to proactively address opportunities and challenges," he adds
Economy

Abu Dhabi to provide UAE nationals with 5,000 jobs in health sector

Abu Dhabi, UAE-- Some 5,000 new jobs have been opened up in the healthcare facilities by the Department of Health,...
  • The department has directed the healthcare facilities to work toward achieving the set targets under the Emiratisation program within their staff
  • The Emiratisation initiative is designed to boost the number of Emiratis working in medical profession as doctors and nursing staff
Economy

AI ‘disrupts economy’ but Middle East optimistic

The Boston Consulting Group survey found that 58 percent of Middle East employees, managers, and leaders believe that AI will...
  • An overwhelming 78 percent of respondents are confident that the rewards of GenAI outweigh the risks
  • 76 percent of all respondents believe that AI-specific regulations are necessary to manage the risks