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.

World resource extraction could surge 60 percent by 2060, UN warns

Paris, France - Extraction of Earth's natural resources could surge 60 percent by 2060, imperiling climate goals and economic prosperity, the...

Economy

Abu Dhabi residential sector achieves record growth in 2023, says report

ABU DHABI, UAE - Abu Dhabi’s residential sector has witnessed one of the best years on record, where a total...

Business
Economy

New service to help start business in Saudi Arabia in three steps

For new investors, the new service will require only three steps: visiting the Saudi Ministry of Foreign Affairs website and...
  • Investors and companies wanting to do business in the Kingdom will benefit from the new reforms
  • The ministry said there will be a broad marketing campaign to ensure that foreign investors and companies can benefit from the new service
Business

Pakistani Basmati export to KSA, UAE suffers setback

Briefing a National Assembly panel, Commerce Ministry’s Director-General Dr. Syed Kausar Zaidi said that Saudi Arabia imports 80 percent of...
  • Briefing a National Assembly panel, Commerce Ministry’s Director-General Dr. Syed Kausar Zaidi said that Saudi Arabia imports 80 percent of its rice from India
  • He; however, expressed the hope that the outcome of Prime Minister Imran Khan’s recent visit to Saudi Arabia may have some positive impact on the export of rice
Economy

Dubai sets up AED1bn fund to support startups

The Fund, an initiative of the Dubai Securities and Exchange Higher Committee, will focus on supporting efforts to implement the...
  • The Fund seeks to fill a funding gap in the MENA venture capital (VC) market by investing in technology startups in the early stages of growth
  • As part of its mandate, the Fund will invest in a range of key initiatives, including Dubai Future Accelerators, DIFC FinTech Hive and Venture Builder Studios
Economy

Crude fact: GCC set for big gains from high oil prices

In oil exporting countries, the fiscal deficits in 2020 will be replaced by large surpluses in 2021 and 2022, mainly...
  • As oil prices rise, the oil-exporting countries in the MENA region - Saudi Arabia, the UAE, Kuwait, Qatar, Oman, Bahrain, Algeria, Iraq, Iran, and Libya - are likely to gain
  • A rise in energy prices increases current account surpluses in Saudi Arabia by US$ 28.3 billion, in Iraq by US$ 11.6 billion, and in the United Arab Emirates by US$ 11 billion
Economy

Kuwaitis complain about rising prices, high inflation

Growing costs and a drop in purchasing power are seen as deterioration of the standard of living Kuwaitis have been...
  • The International Monetary Fund (IMF) attributed Kuwait's high inflation rate in 2021 to sharp rises in food prices and the cost of travel-related services.
  • The IMF expected that inflation would reach 3.2 percent by the end of this year and then stabilize at 3 percent in the medium run.
Economy

Saudi Arabia consistent on pension index

The Kingdom ranks 26 in the Mercer Institute Global Pension Index 2021 for the fourth year in a row, with...
  • Saudi Arabia was ranked 26 in the Mercer Institute Global Pension Index 2021 for the fourth year in a row, with a total of 58.1 points, up from 57.5 last year.
  • The report also identifies several key areas that require development in the country's pension system such as increasing the minimum support provided to the poorest individuals
Economy

‘Make it in the Emirates Lab’ launched with focus on SMEs

The program is the second public-private initiative by MoIAT following the Future of Industry Dialogue initiative, a series of interactive...
  • MoIAT kicked off the Access SMEs program within the wider Make it in the Emirates Lab in collaboration with Procter and Gamble
  • The training will also be available to select national students to further support and encourage their contribution to the industrial sector upon graduation
Economy

China’s factory output, retail sales see jump in October

Industrial production grew 3.5 percent on-year last month, up from September, said the National Bureau of Statistics, as China worked...
  • Industrial production grew 3.5 percent on-year last month, up from September, said the National Bureau of Statistics, as China worked to ease the energy shortage
  • The recovery in the world's second biggest economy has been losing steam for much of the year after a swift bounceback from harsh lockdowns to contain Covid-19
Economy

Saudi Arabia unveils first non-profit city in the world

“This will be the first non-profit city of its kind which will contribute to achieving the goals of Mohammed bin...
  • The city is billed to be a model for the development of the non-profit sector globally and an incubator for youth and volunteer groups
  • The city's masterplan embodies a human-centered, advanced digital metropolis designed to be sustainable and pedestrian-friendly
Geostrategy

Dubai Airshow: UAE MoD signs deals worth AED 5bn

The first deal was signed with Airbus Defence and Space S.A.U., a Spanish company, to purchase refueling aircraft for the...
  • The first deal was signed with Airbus Defence and Space S.A.U., a Spanish company, to purchase refueling aircraft for the Air Force and Air Defense Command
  • One contract was signed d with the French company, Thales, to purchase communication systems for the Air Force and Air Defense

World resource extraction could surge 60 percent by 2060, UN warns

Paris, France - Extraction of Earth's natural resources could surge 60 percent by 2060, imperiling climate goals and economic prosperity, the...
Economy

Company News

Latest News

UAE and Mongolia to ramp up trade and investment ties

Ulaanbaatar, Mangolia--The UAE and Mongolia are looking to boost trade and investment cooperation with a focus on the agriculture sector....
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...
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,...
Economy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Business

4 bids for Al Ajban power project

There will be a process to select the best proposal.
  • Al Ajban Solar PV is EWEC’s third world-leading solar power project.
  • Abu Dhabi is home to world’s three largest single-site solar power plants.
Economy

Kuwait 2023-24 draft budget estimates $22.2 billion deficit

Lower oil prices and volumes attributed to the estimated deficit, according to a newspaper report. MP Osama Al-Zaid said the...
  • Al-Zaid said non-oil revenues were estimated at 2.2 billion dinars, an increase of 10 percent over the previous budget.
  • He said these were only estimates, not real deficit, and Kuwait "will be able to avoid it by maximizing state revenues, controlling expenditures, and preventing financial waste".
Economy

UAE per capita income rises to 7th rank globally

ABU DHABI, UAE - The UAE ranked seventh in the world in terms of per capita national income, according to...
  • According to the Atlas method, the per capita national income in the UAE, in current US dollars, increased to US$48,950 in 2022.
  • The expression of Gross National Income (GNI) in US dollars is done using the Atlas method, which was introduced in its current form in 1989.