INSEAD Day 4 - 728x90

Economy

Burjeel profit nearly doubles

Healthcare demand drives stronger earnings.

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.

UAE-based banks aggregate capital, reserves reach US$131bn by end of November 2023

ABU DHABI, UAE- The aggregate capital and reserves of banks operating in the UAE increased 13.3 percent, reaching US$131 billion...

Business

Dubai economy would grow 5 percent this year: Al Ghurair

Dubai, UAE-- The economy of Dubai would grow around five percent this year, according to Abdul Aziz Abdulla Al Ghurair,...

Economy
Economy

Yemenis protest hardship in govt-controlled south

Around 80 percent of its 30 million people depend on international relief and aid groups complain of financing shortfalls.
  • Around 80 percent of its 30 million people depend on international relief and aid groups complain of financing shortfalls
  • Yemen's economic woes stem from the seven-year conflict between Huthi rebels and government forces
Economy

Wa’ed to fund first Saudi facility to make oil, gas drilling compound

  Wa'ed, the entrepreneurship arm of Aramco, has approved a plan to finance construction of a factory in Jubail that...
  • The 3.75 million SAR loan to SICCO, a Jubail-based start-up, is part of Wa'ed's strategy of empowering Saudi businesses
  • SICCO plans to make calcium bromide, a clear liquid used to regulate wellbore pressure in onshore and offshore oil and gas wells
Economy

Dubai to develop digital economy strategy

The action plan is structured around three pillars: enhancing the digital business environment, supporting the development of digital firms and...
  • The plan was devised at a two-day Dubai Digital Economy Retreat which concluded on Wednesday
  • Interactive workshops during the event identified key market issues and challenges, including the need to attract more digital companies and specialised talent to Dubai
Economy

Global economy to grow by 5.3 percent in 2021: UN

But if widening economic gaps between the developed world and the poor countries persists, only a few will enjoy the...
  • Many developing economies are being held back by constraints on fiscal measures, lack of monetary autonomy and limited access to vaccines.
  • By 2025, developing countries will be $12 trillion poorer owing to the pandemic, the report said.
Business

Most EMEA banks fret they would cease to exist unless they digitize fast

Nearly 75 percent of banks expect tech giants such as Google and Amazon to dominate the banking industry in five...
  • The report said only 25 per cent of EMEA-based banks expect to significantly increase spending on Big Data in the next three years.
  • 19 per cent of EMEA-based banks are focused on blockchain investment compared with 30 per cent of banks in North America.
Economy

New technology rejigs Gulf maritime sector

Real time data coupled with effective supply chain technology came in handy for the industry after the aviation sector was...
  • The GCC countries have been making investments in integrating supply value chains with digital platforms and upgrading their technologies to keep pace with the latest developments
  • Real time data coupled with effective supply chain technology came in handy for the industry after the aviation sector was grounded following the spread of COVID-19 globally
Economy

UN urges Egypt, Sudan, Ethiopia to resume dam talks

The Grand Ethiopian Renaissance Dam, set to be Africa's largest hydroelectric project when completed, has sparked an almost decade-long diplomatic...
  • The UN’s top security body also invited observers who would be acceptable to the three parties
  • The dam was the subject of a Security Council meeting in early July

Lebanon army giving helicopter rides to tourists for money

While most wages in Lebanon have remained unchanged, the value of the Lebanese pound has gone down more than 90...
  • The Lebanese military plans 1,000 hours of helicopter rides for tourists and even Lebanese citizens this year
  • With each ride costing $150, the military is eyeing an influx of $300,000 through this route
Economy

Oman readies roadmap for green economy

Oman’s Environment Authority and Petroleum Development Oman have reportedly discussed the policy draft with the United Nations Environment Program.
  • The UNEP experts outlined the roadmap to EA and PDO during a virtual meeting that the Omani entities organized
  • The first draft included the road ahead for the buildings, water, manufacturing, transportation, waste, and energy sectors
Economy

Inflation eases in Saudi Arabia, lowest in 14 months

Inflation in Saudi Arabia is on the decline for the second month consecutively, dropping to the lowest level since June...
  • The consumer price index (CPI) recorded a modest increase in August of 0.3 percent
  • The slowdown was led by non-food prices, particularly by weaker inflation in the clothing and transport sectors

UAE-based banks aggregate capital, reserves reach US$131bn by end of November 2023

ABU DHABI, UAE- The aggregate capital and reserves of banks operating in the UAE increased 13.3 percent, reaching US$131 billion...
Business

Company News

Latest News

New WEF report reveals technologies to impact world in the next five years

TIANJIN, CHINA -  The World Economic Forum on Tuesday announced its annual list of breakthrough technologies with the greatest potential...
Science

Saudi Arabia’s imports from GCC states drop 15% to $1.49bn in Apr

Riyadh, Saudi Arabia -- Saudi Arabia’s imports from Gulf Cooperation Council countries fell 15 percent year-on-year to SAR 5.6 billion...
Economy

Central Bank of Bahrain treasury bills oversubscribed by 109%

Manama, Bahrain - This week’s BD 70 million issue of Treasury Bills of Government of Bahrain have been oversubscribed by...
Economy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Economy

Availability of government sukuks boosts investment options for Islamic banks: Fitch

Doha, Qatar--The increasing availability of government sukuk and Islamic liquidity management tools by the Qatar Central Bank supports liquidity management...
  • The ratings agency expects the market share to increase overall in 2023 because of high public demand and strong retail networks
  • Fitch believes the launch of treasury sukuk in 2022 is a structural improvement as it adds to Islamic banks' short-term liquidity tools
Geostrategy

International Security Alliance seizes drugs worth US$750mn in global operation

Abu Dhabi, UAE--The International Security Alliance (ISA) has seized narcotics estimated to be worth US$750 million from a large transnational...
  • Led by the ISA and Ameripol, the operation saw the participation of 22 countries across the Middle East, Africa, Asia, Europe and Latin America
  • Founded in 2017 by the UAE and France, the ISA coordinated the operation from its secretariat in the UAE with the aim of fighting organized crime
Economy

Qatar Chamber signs MoU with Argentina Chamber to boost economic ties

Doha, Qatar-- Qatar and Argentina are looking to bolster ties and in this regard Qatar Chamber of Commerce and Industry...
  • The agreement between the two will attempt to enhance and diversify trade exchanges and economic cooperation between the two countries
  • Qatar Chamber also reviewed ties with Uganda Chamber of Commerce to design the path for increased coopeation between the two entities