INSEAD Day 4 - 728x90

Economy

ADNOC L&S to expand fleet

It will acquire 11 carriers for $1.3bn.

Empower profit climbs 16%

Dubai district cooling demand lifts earnings

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.

Saudi Arabia’s trade surplus remains stable at $26bn

Riyadh, Saudi Arabia - Saudi Arabia's trade surplus remained stable at SR97 billion ($25.8 billion) in the fourth quarter of...

Economy

Over 6,000 F&B companies join Dubai Chamber of Commerce in 2023

DUBAI, UAE – President and CEO of Dubai Chambers Mohammad Ali Rashed Lootah has revealed that 6,478 new Food and...

Business
Geostrategy

Lebanese delegation to seek help from Syria, Jordan, Egypt

The delegation will discuss the possibility of receiving electricity from Jordan and gas from Egypt through Syrian territories.
  • The delegation will include four ministers with different portfolios and some top officials from the Energy Ministry
  • The date of the visit has reportedly not been set yet, but it is expected to happen very soon
Geostrategy

Regional security in focus as Mideast leaders meet

Leaders from around the MENA region are arriving in Baghdad for a summit meant to lower tensions in the region....
  • France is co-organizing the meeting to discuss security issues in the Middle East
  • For Iraq, hosting the talks is seen as a significant step toward strengthening the country's position in the region
Economy

Egypt’s economy capable of facing challenges: Sisi

The Egyptian president also said the country’s economy was better equipped to meet the aspirations of the Egyptian people.
  • These statements come in the aftermath of Egypt’s non-oil exports increasing 22 percent in July, as compared to the same period last year
  • In fact, the International Monetary Fund has already predicted that the country’s GDP would grow 5.2 percent in the current fiscal
Economy

Iran to build 3GW renewable power plants

The move is a collaboration between Iran's Power Generation, Distribution, and Transmission Company, and the Iranian Fuel Conservation Company.
  • There are currently 100,000 agricultural wells in the country that use diesel to pump water
  • The construction of renewable power plants would save huge amounts of fuel in addition to supporting the power grid
Business

Oman sets terms for top hotels to open event halls

Four and five-star hotels in Oman may open meeting and celebration halls, but must follow certain restrictions.
  • Celebration and meeting halls in top hotels can function with a maximum of 35 percent capacity
  • The hotels would have to allow entry to only those fully immunized with vaccines approved Oman
Economy

Jadwa says Saudi economy to fare better

Saudi economy may perform better this year than forecast earlier with the continual recovery of the non-oil industry from the...
  • Jadwa predicts growth of 1.8 percent, revising previous estimate of 1.3 percent
  • Non-oil private sector growth seen at 4.4 percent
Business

Lebanon taps Dubai’s ENOC for fuel swap

Lebanon is expected to use ENOC’s fuel to generate electricity, as the Iraqi oil is deemed unsuitable for the process.
  • As part of the deal, Lebanon will give ENOC 84,000 tons of Iraqi high-sulfur fuel oil
  • In return, the country will receive 30,000 tons of Grade B fuel oil and 33,000 tons of gasoil
Economy

Israel gives hospitals $31 million to end partial strike

Finance Minister Avigdor Liberman said the Treasury had transferred the amount to the public hospitals.
  • Staff and administrators at these hospitals have been protesting against the government’s failure to provide adequate healthcare funding
  • Since Wednesday morning, several public hospitals in Jerusalem have not been admitting patients from brought by the emergency services

Iran steel production rises 10% in 2021

The country has kept its position as the 10th largest producer of steel in the world this year.
  • The performance of some leading Iranian steel companies indicates they exported 916,236 tons of steel in June
  • This which indicates a growth of 104 percent compared to June 2020
Analysis

Unemployment will haunt Gulf in 2021

While joblessness will be a worry, the economies of the GCC countries are expected to grow by about 2.5 percent...
  • Saudi Arabia ranked first in the GCC in terms of the unemployment rate, which reached 8.2 percent of the total workforce in 2020.
  • Bahrain and Oman are struggling with rising public debts while their unemployment rates stood at 4.1 percent and 5 percent respectively.

Saudi Arabia’s trade surplus remains stable at $26bn

Riyadh, Saudi Arabia - Saudi Arabia's trade surplus remained stable at SR97 billion ($25.8 billion) in the fourth quarter of...
Economy

Company News

Latest News

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

Aramco, TotalEnergies to construct petrochemical unit in Saudi Arabia

Saudi Aramco and France's TotalEnergies signed contracts to start building an $11-billion petrochemicals facility in the Gulf kingdom, the two...
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

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.
Economy

Dubai Police and DIB sign agreement to support Bayti initiative with US$5.44mn

Dubai, UAE--The Dubai Police and Dubai Islamic Bank (DIB) have signed an agreement to back the social initiative, "Bayti", with...
  • The charitable initiative was launched by Dubai Police and many others to support familes with low income in the construction of homes and furnishing
  • DIB's Chief Operating Officer, Obaid Khalifa Al Shamsi, applauded the partnership between the two in executing social projects supporting citizens