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.

Female founders flourish in UAE’s startup ecosystem

Over the past decade, the UAE has become a global hub for innovation and entrepreneurship, attracting significant interest from international...

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...

Economy
Economy

Nasdaq, S&P 500 again end US trading at records

The broad-based S&P 500 closed 0.2 per cent higher at 4,496.19, its second consecutive record
  • The broad-based S&P 500 closed 0.2 per cent higher at 4,496.19, its second consecutive record
  • The benchmark Dow Jones Industrial Average gained 0.1 per cent to end at 35,405.50
Economy

Raisi says economy, Covid response ‘does not befit’ Iran

He delivered the remarks while chairing the first meeting of his cabinet which was approved by parliament on Wednesday
  • He delivered the remarks while chairing the first meeting of his cabinet which was approved by parliament on Wednesday
  • Iran has been strangled financially by sanctions reimposed by Washington after then US president Donald Trump pulled out of a multilateral nuclear deal in 2018
Infographics

How will new remittance rules affect Lebanon?

The new rule authorizes banks to buy dollars from fresh dollar accounts without a customer's permission.
  • Lebanon ranked third in the Arab world in receiving remittances in 2020
  • Dollars entering Lebanon in the first half of 2021 were higher by 50 percent than those over the same period in 2020
Business

GCC hotel industry readies for a comeback

The Gulf hotel sector's investments, according to reports, have reached $27 billion. New hotel projects worth $3.5 billion in the...
  • Hotel licenses in Saudi Arabia can now be obtained in just 10 days.
  • Until March 2021, UAE had 1096 hotels with 181.3 thousand rooms.
Economy

Mena region needs water resilience: World Bank

Without water resilience, the MENA region may see a loss of 6-14 percent of the collective GDP by 2050, says...
  • A drought can reduce the economic growth of a city anywhere in the world by up to 12 percent, says the World Bank
  • The MENA region, it says, has over 60 percent of the population living in areas with high water stress, compared with 35 percent globally

Slow Covid vaccination to cost global economy $2.3trn

Emerging countries will bear the brunt of the losses from slow vaccination efforts, according to the Economist Intelligence Unit
  • Emerging countries will bear the brunt of the losses from slow vaccination efforts, according to the Economist Intelligence Unit
  • Covid, vaccination, economist, intelligence unit, global economy, study
Business

Women-only business package introduced in Masdar

Masdar City Free Zone offers opportunities for UAE women who constitute 70 percent of UAE university graduates and are also...
  • The announcement comes ahead of Emirati Women’s Day on Aug. 28.
  • A team of experts are available to assist aspiring women entrepreneurs.
Geostrategy

IsDB and OIC keen to boost cooperation

Both institutions will work toward supporting economic and social development in member countries.
  • IsDB is organizing a forum in Tashkent on Sept. 2 on post-Covid 19 situation.
  • Both institutions will work toward supporting economic and social development in member countries.
Business

Iran to set up real-estate stock exchange in H2

When established, it is expected to be Iran’s fifth major stock exchange.
  • It will be under the purview of the Iran Mercantile Exchange or IME
  • Such an exchange is expected to provide housing units for the underprivileged
Business

Chabahar port becomes permanent member of World FZO

The World FZO is a non-governmental, non-profit entity based in Dubai in the United Arab Emirates.
  • Chabahar is Iran's only oceanic port on the Gulf of Oman
  • It can from now on participate in the decisions and events of the World FZO

Female founders flourish in UAE’s startup ecosystem

Over the past decade, the UAE has become a global hub for innovation and entrepreneurship, attracting significant interest from international...
Economy

Company News

Latest News

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...
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...
Economy

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...
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Economy

Insurance becomes mandatory for foreign vehicles entering UAE

Abu Dhabi, UAE-- The Federal Authority for Identity, Citizenship, Customs and Port Security (ICP) has made it mandatory for foreign...
  • In order to make it easier for vehicle owners to posses insurance cover, the authorities will provide them with online access to the platform to buy insurance
  • The vehicle owners can access the service on the ICP's website or by downloading the "Shory Aber" application available for iOS and Android devices
Business

Dubai’s weeklong real estate transactions exceed US$4.2bn

DUBAI, UAE -  A total of 4,048 real estate transactions worth over US$4.2 billion  (AED 15.6 billion) were conducted during...
  • The records show that 278 plots were sold for US$473 million, while 2,965 apartments and villas were purchased for US$1.9 billion.
  • The top transaction was that of a plot of land in Wadi Al Safa 3 which sold for US$24 million, the records revealed.
Business

Siemens Energy shares fall due to technical problems at wind turbine unit

FRANKFURT, GERMANY -  Shares in Siemens Energy plummeted on Friday after the company warned that technical problems at its wind turbine...
  • Siemens Energy said it was setting aside over US$1.1 billion over the coming years to fix the issues at troubled wind turbine subsidiary Siemens Gamesa.
  • Shares in Siemens Energy plunged by more than 30 percent shortly after trading opened in Frankfurt, and ended the day about 37 percent lower.