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

‘WTO champions global trade stability, prosperity’

"It is contributing to raising living standards, improving employment opportunities and enabling the expansion of trade in goods and services"...

Economy

China pledges to ‘work with all’ for results at Abu Dhabi WTO conference

Abu Dhabi, UAE--China is willing to work with all parties to achieve more pragmatic results at the 13th Ministerial Conference...

Economy
Economy

Saudi EXIM Bank joins Berne Union

This will help the bank address major issues in export credit.
  • The bank’s membership in the union represents a major milestone in its role as a facilitator
  • It is also said to be in line with the bank’s objective of boosting the export of national products through local and global partnerships
Economy

CBUAE, ADGM to cooperate in FinTech sector

CBUAE and ADGM will collaborate on the development and growth of the FinTech ecosystem in the UAE.
  • Under the agreement, CBUAE and ADGM will enhance the collaboration under their co-sandbox program
  • This will enable FinTech companies to test their innovative solutions under the existing digital sandbox program
Economy

FAB joins Net-Zero Banking Alliance

FAB is the first bank in the UAE and GCC to join the NZBA.
  • The NZBA was launched in April by the United Nations Environment Program Finance Initiative
  • It aims to bring together banking institutions committed to aligning their lending and investment portfolios with net-zero carbon emissions by 2050
Economy

OFID to support Paraguay SMEs, agriculture

OFID has signed a term loan agreement for $30 million with Banco Regional of Paraguay, the third of its kind...
  • Banco Regional will on-lend from OFID’s loan to small and medium-sized enterprises pr SMEs, particularly agribusinesses
  • The loans are aimed at SMEs severely disrupted by economic slowdowns as a result of the Covid-19 pandemic
Economy

Bank deposits up 0.7% to $525.17bn by August-end: CBUAE

The deposits rose to AED1,928.7 billion at the end of August from AED1,915.1 billion at the end of July.
  • The CBUAE attributed the rise in total bank deposits to a 0.6 percent increase in resident deposits
  • It also cited a 1.5 percent increase in non-resident deposits for the rise in total deposits
Economy

Asian traders move cautiously ahead of inflation release

With the world's top economy well on the recovery track, the US central bank has already signalled it will begin...
  • With the world's top economy well on the recovery track, the US central bank has already signalled it will end the financial support put in place at the start of the pandemic
  • The prospect of higher borrowing costs has put the brakes on a rally across global markets that has run for about a year and a half
Economy

Tunisia, Morocco hoteliers eye an end to Covid woes

Tunisia found itself on European nations' red lists, making it virtually impossible for holidaymakers from major markets including France, Germany...
  • In a good year like 2019, Tunisia registers about nine million hotel stays, and the tourism sector accounts for up to 14 percent of GDP.
  • Roughly 3.5 million visitors entered Morocco by the end of August, up from 2.2 million the year before.
Business

Apple cuts iPhone 13 output forecast on chip shortage: report

Apple is unlikely to meet production goals for its new iPhone before the holidays because of a global electronic chip...
  • The firm will have to settle for 80m against the planned 90m iPhone 13s.
  • Chip shortages were affecting all parts of the industry, not just Apple, said Apple chief Tim Cook.
Economy

UAE approves budget of AED 290bn to 2026

The cabinet also approved the 2022 budget, which calls for spending of AED 58.931 billion ($16.05 billion).
  • The cabinet also approved the 2022 budget, which calls for spending of AED 58.931 billion
  • A major share of the 2022 budget was allocated to the development and social benefit sectors, at 41.2%, while the infrastructure and financial resources sectors took home 3.8%
Interview

Expo 2020: Accenture enables ideal visitor interface

Accenture created integrated intelligent systems for Expo teams, nations, vendors and supplier, says Angelo Lorusso, the company's MD and Client...
  • Accenture delivers an integrated solution at Expo 2020 Dubai right from designing, implementing, and running the platforms that power hyper-personalized guest experience
  • Accenture supports Expo Live – an innovation and partnership program by teaming up with Smart Labour, a UAE-based Expo Live grantee helping blue-collar workers gain new skills

‘WTO champions global trade stability, prosperity’

"It is contributing to raising living standards, improving employment opportunities and enabling the expansion of trade in goods and services"...
Economy

Company News

Latest News

Egypt to pour US$1.8bn into offshore gas exploration program

Vienna, Austria-- Egypt plans to drill new gas wells in the Mediterranean Sea and the Nile Delta as part of...
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...
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...
Economy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Economy

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
Business

Saudi Catering, RSG ink pacts

The contracts are valid for 20 years, said Saudi Catering.
  • The first contract includes the design, building, operation and transfer of a central laundry to serve hotels, resorts as well as other facilities.
  • The second contract includes the design, building, operation and transfer of a central production unit for catering and facilities management services.
Economy

UAE’s financial advisory market to touch US$239 billion in 2023

Dubai, UAE--The UAE's financial advisory market is expected to reach a market volume of nearly $239 billion by the end...
  • In 2023, assets under management in the UAE's wealth management market are forecast to cross US$255 billion, according to data
  • According to industry analysts, some 4,500 millionaires will shift to the UAE and take residence in the country on a permanent basis