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.

‘Emphasis grows on market protection over free trade’

"We believe that enhancing competitiveness and ensuring that the nations offering the best products and services come out on top...

Economy

EDB’s contribution to UAE’s industrial GDP in 2023 rises to US$1.1bn

ABU DHABI, UAE – Emirates Development Bank (EDB) has unveiled its 2023 results, showcasing an extraordinary year of achievements and...

Business
Economy

Turkey cuts interest rate for second successive month despite soaring inflation

Turkey's central bank cut interest rates for the second successive month on Thursday in what economists interpreted as confirmation of...
  • The central bank has blamed rising inflation on "transitory" factors that will dissipate with time.
  • The lira extended its fall into record-low territory against the dollar and euro after the announcement.
Economy

Jordan to get new national accounting system

An agreement has been signed to build capacities to establish a sustainable national accounting system in Jordan.
  • The aim of this initiative is for accounts and GDP figures to reflect the contributions of the informal sector
  • It is also expected to provide accurate details of the sub-sectors in accordance with the best international practices in this field
Economy

GCC cooperation sought to enhance region’s industrial sector

Dr. Sultan Al Jaber said that the national effort to develop the UAE’s industrial sector through the UAE Industry 4.0...
  • The minister's remarks came during the 48th meeting of the GCC Industrial Cooperation Committee in the Kingdom of Bahrain
  • He pointed out that the Covid-19 pandemic accelerated efforts to improve collaboration across the GCC
Economy

Iraq: Water-logged cash in Mosul central bank coffers

The banknotes were badly damaged after the coffers were engulfed in groundwater during offensive to take Mosul from the jihadists.
  • The banknotes were badly damaged after the coffers were engulfed in groundwater during offensive to take Mosul from the jihadists
  • Some 175 bags have been found although total value of the money is not known yet
Economy

Lebanon hikes fuel prices in de facto end to subsidies

The end to subsidies pushes the cost of filling a vehicle's tank to more than the monthly minimum wage in...
  • The price increases have mostly erased massive queues at gas pumps that clogged streets across the country.
  • The energy ministry on Wednesday also raised the price of diesel and cooking gas following a drop in Lebanese pound.
Business

Dubai records $4.4 billion realty sales in September, highest since 2013

The months leading up to the launch of Expo 2020 Dubai witnessed a surge in realty transactions, with September recording...
  • A total of 5,762 sales transactions in September bring the year-to-date total value to over AED100 billion.
  • In September 2021, 56 percent of all sales transactions were for secondary/ready properties and 44 percent were for off-plan properties.
Economy

Earnings joy lifts Asian markets as Fed mulls taper

Signs of progress on US President Joe Biden's massive spending bill provided an extra lift to sentiment
  • Signs of progress on US President Joe Biden's massive spending bill provided an extra lift to sentiment
  • Strong profit reports from big-name firms over the past week have reinforced optimism that the corporate sector is weathering slowdown in economic growth
Economy

Lebanon’s car culture comes into question amid fuel crisis

In the absence of a functioning public transport system, car culture has thrived in Lebanon, with many households, even modest...
  • There are more than 2 million cars for 6 million people in Lebanon
  • However, people are now turning to buses and tuk-tuks to get around as fuel is expensive and often unavailable
Interview

400% rise in Saudi agri investment in four years

The kingdom’s goal is to support small farmers, develop rural agriculture and assist the local development of the food product...
  • The kingdom’s goal is to support small farmers, develop rural agriculture, and assist the local development of the food product manufacturing sector
  • The lack of natural water and an unsuitable climate are the two most pressing issues facing the Kingdom's environment and agriculture
Economy

Deficit to surplus: GCC economies on growth track

The combined current account balance of oil exporters in the GCC region is likely to shift from a deficit of...
  • UAE economy is expected to grow by 2.2 percent in 2021 and by 4.9 percent in 2022, supported by tourism, oil prices recovery and Expo 2020 activities.
  • Saudi Arabia's real GDP growth fell 4.1 in 2020 and is expected to increase to 1.9 percent this year and 4.8 percent in 2022.

‘Emphasis grows on market protection over free trade’

"We believe that enhancing competitiveness and ensuring that the nations offering the best products and services come out on top...
Economy

Company News

Latest News

UAE Dirham can be third currency for India-Russia Trade, says Russian economist

New Delhi, India - Russian academic Sergey Luzyanin has suggested that the United Arab Emirates' Dirham could be considered as...
Economy

Bahrain, UK sign MoU to preserve biodiversity and curb marine pollution

London, UK--Bahrain and the United Kingdom have signed a memorandum of understanding (MoU) on biodiversity and marine pollution. The MoU...
Economy

Iran signs oil contracts worth US$40bn in last 20 months: Javad Owji

Tehran, Iran-- Iran has signed oil contracts worth $40 billion with domestic and foreign companies during the last 20 months....
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Economy

UAE is focused on uniting parties in a COP that delivers for all: Al Jaber

Dr. Sultan bin Ahmed Al Jaber believes that the Caribbean region will have a key role at COP28 in bringing...
  • Al Jaber was addressing the conference of the heads of government of the Caribbean Community (CARICOM) in Trinidad and Tobago
  • The minister felt that donor countries need to be nudged in order to deliver the US$100 billion pledge that they made over a decade ago
Economy

Total direct, indirect economic impact of re-exports is $13bn: UAE minister

Abu Dhabi, UAE - The total direct and indirect economic impact is estimated at AED 48 billion ($13 billion) the...
  • Al Zeyoudi said that the re-exports are a vital sector for the country's economy, as the UAE is one of the largest re-export centers in the world
  • He added that mobile phones and their accessories were the largest single sector for re-exports in 2022 followed by diamonds, mass transit vehicles and jewelry
Economy

Qatar Airways’ profits fall

Its net profit dropped 21% to US$1.21bn in 2022-2023.
  • The airline posted profit fall in spite of the rise in revenues to $21 billion and passenger numbers going up 71 percent to 31.7 million for the year
  • The carrier flew some 1.4 million fans to Qatar for the World Cup and yet the airline did not give any explanation for the lower profits in the fiscal year