INSEAD Day 4 - 728x90

Economy

2PointZero posts profit surge

Growth driven by merger consolidation.

Mashreq Q1 profit rises

Total revenue increased 10% year-on-year.

TECOM profit climbs

High occupancy across assets boosts earnings.

Emirates Stallions Q1 revenue up 11%

The rise helped by strong demand in real estate

ADNOC Distribution 2025 dividend $700m

The company had reported EBITDA of $1.17 bn in 2025.

China’s Guangdong province now boasts of 75,000 high-tech companies

Shenzen, China--The total number of high-tech enterprises in south China's Guangdong Province has exceeded 75,000, local authorities have said. By...

Economy

SCC committee discusses issues related to Sharjah’s economy and tourism

SHARJAH, UAE - The Financial, Economic and Industrial Affairs Committee of Sharjah Consultative Council (SCC) held a meeting to discuss...

Business
Business

UAE outperforms ten global tourism destinations in H1

The emirates achieves hotel occupancy rate of 62 percent, ahead of the US, UK and Turkey
  • Hotel revenues grew by 31 percent to reach AED11.3 billion.
  • Domestic tourism accounted for 30 percent of the total number of guests at hotels.
Research

Saudi biggest Arab economy, Sudan most indebted

The Saudi economy, as per IMF, is recovering "well" from the pandemic, estimating the kingdom's non-oil economy will grow by...
  • COVID-19 increased the average debt in Arab countries to 81.8 percent of its GDP in 2020, up from 69.4 percent in 2019.
  • Qatar has the highest GDP per capita in the Arab world due to its small population.
Videos

Assets of UAE banks rise despite pandemic

The UAE banking sector has posted a moderate yearly growth of 0.6 percent with total assets reaching US$873.6 billion, or...
  • Total customer deposits in the country’s banks between Q2 2020 and Q2 2021 witnessed 2.3 percent year-on-year growth reaching US$519.4 billion or AED1.908 trillion.
  • Personal loans to residents recorded 3.6 percent increase at US$92 billion or AED336.5 billion during the period
Business

Mitsubishi to supply Empower 100,000 refrigeration ton capacity chillers

DUBAI: Emirates Central Cooling Systems Corporation (Empower) will be using Mitshubishi's air-conditioning and heating systems for its environmentally friendly district...
  • A deal between the two allows Empower to increase capacity to 200,000 refrigeration tons.
  • Empower will start using the new units in its plants under construction located in Zabeel, Business Bay, Madinat Jumeirah.
Economy

World Green Economy Summit to tackle global food security

WGES will look into ways to advance the food and agricultural technology sectors
  • WGES will look into ways to advance the food and agricultural technology sectors
  • One of these is the Dubai Food Tech Valley, a programme launched by ruler of Dubai Al Maktoum
Research

Saudi gold glitters more in the region

Gold prices reached record levels in 2020 following an increase in investor appetite because of COVID-19. The price of yellow...
  • Gold jewelry shopping in Saudi Arabia and Egypt grows 13 percent and 4 percent and decreases 12 percent in the UAE
  • China purchased 191.1 metric tons of gold in 2021, followed by India, which bought 102.5 metric tons
Geostrategy

Iran looks east after China-led bloc okays entry

Iran has been trying to enter the SCO for years, and was close last year, but Tajikisatn objected to it.
  • Iran has hailed its acceptance into the Shanghai Cooperation Organization, a bloc led by China and Russia
  • This, for it, was an eastward turn that it sees as opening access to major world markets and a counter to Western sanctions
Economy

No end to Lebanese woes as new govt. hikes gasoline price

If the Lebanese were expecting a measure of relief from the new Mikati government, they were badly disappointed. The government...
  • The government has promised action to address the crisis, including talks with the IMF and a start to reforms
  • The new government has also signed a new contract with restructuring consultancy Alvarez & Marsal (A&M) to carry out a forensic audit of the central bank
Economy

MENA startups raise $1.2 bn in H1

A Dubai-based think-tank has said that as many as 254 start-ups, mostly from the UAE, Saudi Arabia, and Egypt, have...
  • Dubai-based think-tank MAGNiTT said that as many as 254 start-ups, mostly from the UAE, Saudi Arabia and Egypt, have attracted record breaking funding this year
  • Dubai SME offers funding options and support for including advisory and incubatory services to small and medium enterprises (SMEs), start-ups and established businesses
Economy

UN needs another $100trn for SDGs

The Force for Good initiative has said the UN has funding gap of $84-101 trillion in achieving the SDGs.
  • The 17 SDGs are goals that the UN set forward in 2015, which would be accepted by all its members states, to build a better planet
  • They include, but are not limited to goals like No Poverty, Zero Hunger, Good Health and Well Being, Quality Education, and Gender Equality

China’s Guangdong province now boasts of 75,000 high-tech companies

Shenzen, China--The total number of high-tech enterprises in south China's Guangdong Province has exceeded 75,000, local authorities have said. By...
Economy

Company News

Latest News

HNWIs’ wealth in Middle East grows despite slowdown

Despite a global economic slowdown in 2022, high-net-worth individual wealth in the region experienced growth on the back of strong...
Economy

Institutional investors buy more local stocks in UAE markets since Jan

Abu Dhabi, UAE -- Institutional investors bought more local stocks than they sold in the Abu Dhabi Securities Exchange (ADX)...
Business

ADNOC Distribution, HPCL ink agreement

Will help to enhance efficiency of overseas operations.
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Business

Bahrain central bank $185m Treasury bills oversubscribed 109%

Manama, Bahrain -- Treasury bills valued at Bahrain Dinar 70 million ($185 million) issued this week by the Central Bank...
  • The bills, carrying a maturity of 91 days, are issued by the CBB, on behalf of the Government of the Kingdom of Bahrain.
  • The total outstanding value of Government Treasury bills, typically issued with maturities of 91 days, 182 days, and 364 days, is BD 2.110 billion.
Business

Cruise visitors to Qatar in 2022-23 rise 151 percent

DOHA, QATAR -  New data from Qatar Tourism (QT) revealed that the country welcomed 253,191 cruise visitors during its 2022-23...
  • Qatar has seen a steady increase in cruise ship arrivals and passenger numbers, and the industry is poised for further growth in the seasons to come.
  • In 2022-23 season, most cruise passengers originated from Germany (31 percent), Italy (10 percent), Russia (6 percent) and the United Kingdom (3 percent).
Economy

Qatar takes part in 58th MENA customs regional meeting

Doha, Qatar--Qatar participated in the 58th regional meeting of director general of customs of the North of Africa, near and...
  • The meeting of the top officials discussed policy commission, committee membership, and the adoption of the document for the appointment of the techncial attache
  • The WCO council reviewed customs work, capacity building, rules of origin, valuation, nomenclature and classification, compliance, and trade facilitation