INSEAD Day 4 - 728x90

Economy

Salik profit slips in H1

The company said traffic recovery supported resilience.

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

Morocco aims to increase exports by 12% in 2024, says kingdom’s trade minister

Dubai, UAE-- Morocco hopes to increase its exports by 12 percent this year, according to the kingdom's minister of industry...

Economy

Finland, UAE eye collaborations in clean technologies

"There's considerable work to be done to establish a level playing field where low-energy technologies can be freely traded. I...

Economy
Economy

Turkish lira hits record low as Erdogan sacks central bankers

The Turkish lira sank to a record low against the US dollar on Thursday after President Recep Tayyip Erdogan fired...
  • One of the dismissed bankers was reportedly the only one to vote against a surprise interest rate cut last month.
  • A dollar was worth 3.75 lira at the start of 2018. Erdogan has fired three central bank governors since 2019.
Economy

Inflation spikes in Saudi Arabia, fueled by high food prices

The rate of inflation in Saudi Arabia spiked in September after being at the lowest level in August, according to...
  • It was 0.6 percent in September, up from 0.3 percent in August, the General Authority of Statistics said today
  • The spike was fueled by a faster growth in prices for food and beverages
Business

Sukuk momentum may continue over the medium term on investor appetite: Fitch

Sukuk momentum is expected to continue over the medium term supported by intact investor appetite, funding diversification and refinancing needs,...
  • Sukuks amounting to $57.3 billion were issued in the GCC region, Malaysia, Indonesia, Turkey and Pakistan in the third quarter of 2021.
  • Global outstanding sukuk reached $775.4 billion in the third quarter, 2.8 percent higher than the previous quarter.
Economy

Africa needs to revamp transportation for economic development: DP World CEO

Africa offers significant potential for investment and economic partnerships that can create mutual benefits for UAE businesses and their African...
  • Africa offers significant potential for investment and economic partnerships, Sultan Bin Sulayem said at Global Business Forum Africa.
  • Dubai keen to transfer its experience to help develop business in Africa, Bin Sulayem said.
Economy

UAE’s non-oil foreign trade up 27% to AED900 bn in H1 2021

According to preliminary data released by the Ministry of Economy, the value of non-oil exports alone amounted to AED170 billion...
  • Gold, aluminum, plastics, copper iron and steel are the most important non-oil exports of the country
  • The UAE’s top five export destinations include India, Saudi Arabia, Hong Kong, Kuwait and China
Economy

Digital upskilling key to MENA economic revival

About 70% CEOs in the Middle East believe that lack of digital skills is a threat to their businesses, a...
  • An independent survey of Middle East CEOs conducted by Price Waterhouse Coopers in 2020 revealed that 70 percent believe that a lack of digital skills is a threat to their business
  • A recent report by Korn Ferry, the US management consulting firm, predicts a global talent shortage of more than 85.2 million people by 2030
Economy

IMF, G20 fret over supply chain bottlenecks, inflation fears

As demand has spiked, suppliers have not been able to keep up: Ships are lined up outside American ports waiting...
  • The supply challenges on a global scale will be a key focus of meetings of the IMF and the Group of 20
  • IMF chief Kristalina Georgieva said the global economy faces a "particularly challenging
Economy

Saudi Arabia looks to boost the country’s GDP to $1.71 trillion

Saudi Arabia seeks to boost its economic output to reach $1.71 trillion, Saudi Investment Minister Khalid Al-Falih said on Wednesday.
  • Al-Falih said Saudi Arabia plans to boost the investment rate to 30 percent as compared to the current 22 percent
  • The minister said this leap requires efforts to empower the private sector by providing an integrated investment environment
Economy

Look beyond subsidies to fight high energy prices: IMF

Governments should avoid using general subsidies as a way to soften the blow from recent high energy prices, said Paulo...
  • The IMF has said generalized energy subsidies benefit rich households who don't need the support
  • In addition, they are not friendly to the environment, and in fact they lead to very negative incentives
Economy

UAE economy to grow at 2.1% this year, 4.2% in 2022: IIF

The Institute of International Finance (IIF) said that the UAE economy is rebounding from its deepest downturn in decades as...
  • In September the UAE Central Bank had forecast the economy will grow 2.1 percent this year and 4.2 percent in 2022
  • the Institute of International Finance (IIF) said it expects the real GDP growth to pick up to 2.2 percent in 2021 and 4.9 percent in 2022

Morocco aims to increase exports by 12% in 2024, says kingdom’s trade minister

Dubai, UAE-- Morocco hopes to increase its exports by 12 percent this year, according to the kingdom's minister of industry...
Economy

Company News

Latest News

Turkey’s inflation rate slows to 38.2 percent in June

According to the TUIK state statics agency, the rate slowed from 39.6% in May. But a separate study released by...
Economy

SRTIP-SOTI merger to boost UAE’s knowledge economy

"The time is right to reach higher and underscore Sharjah’s position as a leading global destination for innovation, business, and...
Business

Iraqi president presses for closer trade and energy ties with Iran

Baghdad, Iraq-- Iraqi President Abdul Latif Rashid has emphasized the need for reinforcing partnership with Iran in the fields of...
Geostrategy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Economy

Central Bank of Bahrain Sukuk Al-Ijara oversubscribed

Manama, Bahrain - The Central Bank of Bahrain (CBB) has announced that the monthly issue of the short-term Islamic leasing...
  • The Sukuk Al-Ijara has a maturity period of 182 days, starting on July 6, 2023 and maturing on January 4, 2024
  • Earlier in June, the CBB said that the issue of the 4-year Government Development Bond was oversubscribed by 415 percent
Economy

Sheikh Hamdan launches first phase of waste-to-energy project

Making a strong push for transition to a green economy by building a clean energy infrastructure, Dubai saw the launch...
  • The world's largest and most efficient plant built at a cost of $1.08 billion features advanced technologies with no adverse environmental impact
  • Sheikh Hamdan said Dubai's has speeded up its transition to a green economy and transform itself into one of the world's most sustainable cities
Investigation

Egyptians caught in devastating economic storm

Egypt's economy is grappling with a myriad of challenges, including rising inflation, currency depreciation and high debt. TRENDS delves into...
  • Egypt's economy is grappling with a myriad of challenges, including rising inflation, currency depreciation and high debt. TRENDS delves into the depths of the crisis
  • While external factors like Russia-Ukraine crisis have hit Egypt, GCC countries have extended support, emphasizing the need for structural reforms and privatization