INSEAD Day 4 - 728x90

Economy

Samsung biggest chip investor

The tech giant invested nearly $59.2bn in 2025.

flynas to set up new hub

Five destinations in first phase of operations.

AD Ports Group acquires CLI

CLI is Brazilian agri-bulk terminal operator.

$1.59bn Makkah project awarded

A consortium will develop two districts in the Holy City.

2PointZero posts profit surge

Growth driven by merger consolidation.

Syria to start replacing currency from Jan 1: central bank chief

Syria's central bank chief said Thursday that the country's currency would start to be replaced with a revamped version from...

Economy

Qatar’s economic momentum accelerates as diversification gains global recognition

However, Qatar faces downside risks from a deeper global economic slowdown that could weaken energy demand and LNG prices amid...

Economy
Business

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...
  • The total number of F&B companies registered with Dubai Chamber of Commerce stood at 22,585 at the end of 2023.
  • Dubai Chamber of Commerce launched 11 business groups dedicated to the industry, eight of which were set up in 2023.
Economy

Oil may rise to $100, gold to hit $3,000 by 2025, says Citi

ABU DHABI, UAE - Oil prices could rise to $100 per barrel and gold prices could reach $3,000 per ounce...
  • Analysts say gold is currently trading at $2,016 and could surge by about 50 percent if central banks dramatically increase purchases.
  • Another factor that could drive gold prices is the global economy's deep recession, which could prompt the Federal Reserve to cut rates rapidly.
Business

Saudi National Bank launches US dollar-denominated sukuk

RIYADH, SAUDI ARABIA - Saudi National Bank (SNB) commenced the US dollar-denominated senior unsecured sukuk issuance through a special-purpose vehicle. The sukuk are offered to qualified...
  • The sukuk are offered to qualified investors inside and outside Saudi Arabia.
  • The amount and sukuk’s terms of offer will be subject to market conditions.
Economy

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...
  • The province's estimated annual research and development (R&D) expenditure topped about $64.8 billion by the end of 2023
  • The region has seen its gross domestic product surpass $1.80 trillion in 2023, topping the country for 35 consecutive years
Economy

Strategic initiatives help UAE lead digital economy

“This economy merges national skills and technological solutions, creating an advanced model that contributes to achieving the goals of the...
  • The UAE is aiming to significantly boost the digital economy's contribution to the non-oil GDP over the next decade.
  • Efforts are being ramped up to accelerate the adoption of digital solutions across various sectors in the Gulf country.
Business

stc 2023 revenues is $19.28bn

Gross profit for 2023 rose 1.1 percent compared to 2022.
  • The growth was mainly attributed to the increase in commercial unit revenues by 5.1 percent
  • It was also due to rise in carriers and wholesale unit revenues by 1.4 percent in stc KSA,.
Business

Construction in China-Saudi Arabia ethylene project begins

FUZHOU, CHINA - Construction of the main complex of a joint-investment ethylene project, which involves petrochemicals giant Saudi Basic Industries...
  • The project is being built in the Gulei petrochemicals base in Zhangzhou city, in eastern China’s Fujian Province.
  • The project entails a total investment of $6.3 billion from SABIC and Fujian Energy Petrochemical Group Co. Ltd.
Business

Iran-EU trade surpasses US$5bn in 2023, says Eurostat

TEHRAN, IRAN - The Statistical Office of the European Union (Eurostat) reported that Iran and the 27 European Union member...
  • Trade between Iran and member states of the EU recorded a decrease of 9 percent from January to December 2023.
  • During that period, the exchange of products between Iran and the EU member states was valued at US$5 billion.
Business

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...
  • The committee addressed the outcomes of its recent visit to Sharjah Commerce and Tourism Development Authority.
  • The committee was briefed about the authority’s efforts to stimulate tourism by conducting events throughout the year.
Geostrategy

Norway deal averts Palestinian financial collapse: govt

The portion of the revenues that Israel will transfer to Norway will remain in a Norwegian account until the parties...
  • Under a 1994 agreement, the PA receives taxes that Israel collects on its behalf -- but Israel has withheld some of these since Hamas's attack
  • The Palestinian Authority has refused to accept any transfers unless Israel changes its decision, an impasse that has lasted for several months

Syria to start replacing currency from Jan 1: central bank chief

Syria's central bank chief said Thursday that the country's currency would start to be replaced with a revamped version from...
Economy

Company News

Latest News

Oil slides, stocks rise as Iran-Israel ceasefire holds

The main international and US oil contracts briefly bounced off their lows as Israel and Iran accused each other of...
Geostrategy

Oil prices seesaw as investors await Iran response to US strikes

US stocks edged higher while European markets retreated and Asian equities were mixed, with markets keeping a close eye on...
Geostrategy

Oil prices spike after US strikes on Iran nuclear sites

Economists at MUFG warned of "high uncertainty of the outcomes and duration of this war", giving a "scenario analysis" of...
Economy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Economy

Trade war worsens foreign investment outlook: UNCTAD World Investment Report

Presenting the annual report at a press conference, UNCTAD chief Rebeca Grynspan said it contained a "clear and urgent" message...
  • After two consecutive years of decline, the FDI outlook for 2025 remains negative due to uncertainties triggered by the tariff war waged by Trump, the UNCTAD said.
  • UNCTAD said that when adjusted to strip out volatile financial flows through several European economies, FDI fell by 11% last year to $1.5 trillion.
Economy

US Fed keeps interest rates unchanged in face of Trump criticism

Fed Chair Jerome Powell told reporters the central bank would make better decisions if it waited a few months to...
  • For now, he expects to learn more "over the summer," while officials appear increasingly divided on whether they can cut interest rates at all in 2025.
  • The Fed kept the benchmark lending rate between 4.25 percent and 4.50 percent at the end of its two-day meeting, with officials penciling in two rate reductions this year.
Geostrategy

MENA Brief | June 19: GCC central banks hold interest rates steady, Diriyah House launched in London

As most currencies in the region are pegged to the US dollar, monetary policy follows the decisions taken in Washington,...
  • Saudi-based Cluster2 Airports Company signed a strategic MoU with Airbus. The agreement will see the deployment of the Agnet Turnaround platform across Cluster2’s 22 airports.
  • Saudi National Bank (SNB) has issued $1.25 billion in Tier 2 bonds at a 6% profit rate under its $10 billion Euro Medium Term Note program.