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.

WEF24: Pragmatic actions to help in carbon neutrality

Technology investment and corporate partnerships can play a crucial role in driving significant emission reduction, Hans Kobler of Energy Impact...

Interview

Saudi holdings of US Treasuries surge to $131.9b in December 2023

ABU DHABI, UAE - Saudi Arabia’s holdings of US Treasuries reached US$131.9 billion in December 2023, up $3.8 billion month-on-month,...

Economy
Economy

Iran spends $620m to mechanize agriculture

That amount reportedly equals 87 percent of the total budget allocated to a credit line for agricultural mechanization.
  • The money has been used to supply agricultural machinery, tools, and equipment
  • These have been supplied in fields like horticulture, livestock, poultry, and aquaculture
Geostrategy

Morocco polls: ‘New model of development’ in focus

King Mohammed VI will name a prime minister from the party that leads the parliamentary poll to govern for the...
  • King Mohammed VI will name a prime minister from the party that leads the parliamentary poll to govern for the next five years
  • The palace remains the source of key decisions and strategic direction in the country of 36 million people
Economy

Power cuts stall industrial revival in Syria’s Aleppo

The conflict has ravaged electricity networks as well as oil and gas infrastructure across the country
  • The conflict has ravaged electricity networks as well as oil and gas infrastructure across the country
  • Syrians in government-held areas have had to adapt their lives at home and work around power cuts of up to 20 hours a day
Economy

In world first, bitcoin becomes legal tender in El Salvador

El Salvador has become the first country to introduce bitcoin as legal tender, with high demand forcing a freeze of...
  • Bitcoin can be bought and spent using a cyber wallet called "Chivo"
  • Special ATMs allow people to make bitcoin transactions and draw cash in dollars
Economy

Asian markets lifted by recovery hope, Tokyo breaks 30,000

While the mood is generally upbeat, analysts remain cautious owing to the constant threat of the pandemic.
  • Shanghai, Sydney, Singapore, Wellington, Manila, Mumbai and Bangkok post gains; Seoul, Taipei and Jakarta the only stragglers.
  • Tokyo continued its march higher on stimulus hopes, while a reshuffle of the Nikkei 225 also provided healthy support.
Business

Aramco Q2 net income $25.5 billion, up by 288 percent

The results driven by higher oil prices and a recovery in worldwide demand, supported by the global easing of COVID-19...
  • H1 net income $47.2 billion, representing a 103 percent increase over the same period in 2020.
  • The Q1 dividend of $18.8 billion was paid in the second quarter and Q2 dividend of the same amount will be paid in the third quarter.
Economy

Saudi non-oil revenues jump 206%

The non-oil revenues of Saudi Arabia have increased to US$31 billion in Q2 2021 as against US$10.1 billion in Q2...
  • Saudi economy contracted by 7 percent in 2020 but grew by 1.5 percent in Q2 2021
  • IMF expects Saudi real GDP to expand by 2.4 percent in 2021, following a contraction of 4.1 percent last year
Economy

Cyprus becomes safe haven for fleeing Lebanese

Since the start of the crisis in 2019, several thousand Lebanese have emigrated, many of them to Cyprus.
  • Since the start of the crisis in 2019, several thousand Lebanese have emigrated, many of them to Cyprus
  • According to the United Nations, 78% of Lebanese now live below the poverty line -- up from less than 30% before 2019
Economy

As economy slumps, Turkey turns on migrants

Turkey turned into the home of one of the world's largest migrant populations when it struck a deal with Brussels...
  • Turkey turned into the home of one of the world's largest migrant populations when it struck a deal with Brussels to help resolve Europe's 2015-16 refugee crisis
  • President Recep Tayyip Erdogan says the nation of 84 million now hosts five million migrants and refugees
Economy

Egypt’s foreign reserves leap up to $40.67bn in July

Egypt's net foreign reserves have risen to $40.672 billion in August from $40.609 billion in July, the central bank said...
  • Egypt's net foreign reserves have risen to $40.672 billion in August from $40.609 billion in July
  • Foreign reserves have been rising since June 2020, after dropping to around $36 billion

WEF24: Pragmatic actions to help in carbon neutrality

Technology investment and corporate partnerships can play a crucial role in driving significant emission reduction, Hans Kobler of Energy Impact...
Interview

Company News

Latest News

Iran’s oil exports surge to 1.9 million barrels per day in May

In spite of economic sanctions imposed by the Western governments against Iran, the country has seen its oil exports surge...
Business

More than 900,000 passengers to use Abu Dhabi International Airport on Eid

Abu Dhabi, UAE-- Some 900,000 passengers are expected to pass through Abu Dhabi International Airport on more than 5,000 flights...
Business

Iraq’s finance and business center to be a hub for trading, selling

BAGHDAD, IRAQ - The Finance and Business Center in Iraq is set to become a hub for trading and selling...
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Economy

Kuwait’s central bank says broad money supply rises marginally

KUWAIT- Central Bank of Kuwait (CBK) announced that the broad money supply (M2) went up by 0.3 percent last May...
  • Local banks' private sector deposits increased by 0.6 percent to settle at $119.4 billion, revealed the CBK's economic research department.
  • Local banks' assets fell by 0.1 percent to record $280 billion, while the net foreign assets decreased by 0.2 percent to $34.3 billion.
Economy

KSA outsources work worth US$693m for achieving Saudi Vision 2030

RIYADH, SAUDI ARABIA - The Minister of Human Resources and Social Development and Chairman of the Board of Directors of...
  • The minister said by executing many projects, the non-profit sector has contributed to achieving national development.
  • He said one of the achievements has been the development of the incorporation procedures of non-profit organizations within four days.
Business

Dubai Land Department unveils real estate investment trusts

DUBAI, UAE - Dubai Land Department (DLD), through the real estate development sector, has launched the real estate investment trusts...
  • The move aims to provide incentive benefits to encourage REIT to consider various projects across Dubai.
  • The aim is also to increase investment in the market by achieving a long-term capital return for shareholders.