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.

Saudi Arabia ranks 1st in international tourist arrivals growth in 2023

Riyadh, Saudi Arabia - Saudi Arabia topped the UN Tourism’s ranking for the growth of international tourist arrivals in 2023...

Economy

Saudi Arabia set to establish more smart industrial zones

Riyadh, Saudi Arabia - Saudi Arabia will establish more smart industrial zones, Minister of Municipal and Rural Affairs and Housing,...

Economy
Economy

Megaship that blocked Suez heads back to Asia

The MV Ever Given had "successfully crossed" the canal after unloading its cargo in Britain and was now on its...
  • The vessel was seen sailing in open waters accompanied by Egypt-flagged tugboats
  • The Ever Given got stuck diagonally across the canal during a sandstorm on March 23
Economy

Ex-head of Tunisia’s Anti-Corruption Committee placed under house arrest

Chaouki Tabib headed the independent authority from 2016 to 2020, when he was sacked by former Prime Minister Elyes Fakhfakh
  • Chaouki Tabib headed the independent authority from 2016 to 2020, when he was sacked by former Prime Minister Elyes Fakhfakh
  • Tunisian President Kais Saied last month dismissed the prime minister, froze parliament and assumed executive authority
Economy

Morocco to keep Algeria-Spain gas pipeline open

The operating contract for the Moroccan section of the Maghreb-Europe Gas Pipeline, which links fields in Algeria with Spain, runs...
  • The operating contract for the Moroccan section of the Maghreb-Europe Gas Pipeline, which links fields in Algeria with Spain, runs out in October
  • There was concern its renewal might fall foul of the latest spat between the two countries
Economy

Tackling Covid, reviving economy priorities: Raisi

More than 16.3 million people out of Iran’s 83 million inhabitants have been given a first vaccine dose, but only...
  • Raisi has tapped 63-year-old optometrist Bahram Eynollahi as his health minister
  • Iran, battling the Middle East's deadliest Covid outbreak, launched a vaccination drive in February
Economy

More than 4m could lose water in Lebanon, warns Unicef

Unicef is calling for the urgent restoration of power supply, which is the only solution to keep water services running.
  • Lebanon is currently suffering from one of the world’s worst economic crises since the mid-1800s
  • Matters have only been made worse by the withdrawal of fuel subsidies by the country’s central bank
Business

Egypt to earmark $2.5bn for 17 desalination plants

Fresh water resources are becoming scarce due to drought in Egypt, which is more than 90% dependent on the Nile...
  • The plants will supply drinking water to people in a country where potable water is often not very readily available
  • This move is the latest in Egypt’s list of initiatives to improve the supply of drinking water to its people
Economy

Saudi Arabia looks to boost exports

Saudi Arabia will resume negotiations with 11 countries for free trade agreements meant to increase non-oil exports share in GDP.
  • Saudi Arabia is looking for more trading partners under free trade agreements as the country aims at increasing non-oil exports share in GDP
  • The kingdom is resuming negotiations for free trade agreements with 11 countries, Okaz paper reported
Geostrategy

Qatar to give $10m per month to Gaza families in aid

Each of about 100,000 needy families in the governorates of the Gaza Strip would receive $100 per month in cash.
  • Qatar will transfer the aid funds before the end of August
  • The distribution of these funds will start in the month of September
Geostrategy

US to help Lebanon procure electricity

Lebanon has been struggling with fuel shortages for a couple of months, which has led to protracted power outages.
  • The economic crisis in Lebanon is so dire that the World Bank has said it is among the 10 worst of its kind since the mid-1800s.
  • The global body also said the crisis could be among the top three in the world if it was not addressed immediately
Economy

Oman to ease Covid-19 measures from Aug 21

The relaxation will see the reopening of public buildings, malls, and restaurants, as well as resumption of public events.
  • Covid-19 infections are decreasing in Oman, with 187 reported per day on average over the past week
  • There have been 300,728 cases in all since the beginning of the pandemic, and 4,013 deaths till date

Saudi Arabia ranks 1st in international tourist arrivals growth in 2023

Riyadh, Saudi Arabia - Saudi Arabia topped the UN Tourism’s ranking for the growth of international tourist arrivals in 2023...
Economy

Company News

Latest News

Dubai records over US$1.2bn in realty transactions

DUBAI, UAE - Dubai's real estate market recorded 638 sales transactions worth US$503 million (AED1.85 billion) on Tuesday, data released...
Business

CBUAE balance sheet rises to US$172bn at end of April 2023

ABU DHABI, UAE -  The Central Bank of the UAE's (CBUAE) balance sheet grew by 6.3 percent on a monthly...
Business

Riyadh faces Rome and Busan in race to host World Expo 2030

Paris. France -- The candidature of Saudi Arabia (for Riyadh), South Korea (Busan) and Italy (Rome) for World Expo 2030...
Geostrategy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Business

ADNOC L&S gets new VLCC

VLCCs carry almost 2 million barrels of crude per voyage.
  • The vessel is the first of four dual-fuel engine very large crude carrier which can also run on liquefied natural gas
  • ADNOC L&S has committed approximately $2 billion to build more environmentally efficient vessels.
Economy

Remittances to MENA may rise by 1.7% after drop in 2022: World Bank

Dubai, UAE -- Remittance flows to the Middle East and North Africa (MENA) are expected to increase marginally in 2023...
  • The remittances are likely to increase by 1.7 percent in 2023 and by 1.8 percent the following year, the World Bank said in its Migration and Development report.
  • The 3.8 percent drop in the flows in 2022 was driven mainly by a drop in flows to Egypt and downturns in flows to Algeria and Jordan. 
Interview

US supports China’s bid to advance Middle East peace

Saudi-Iran peace deal will reduce tensions in the region and would solve some of the problems if not all, says...
  • Blinken spoke of his recent visit to the Middle East where he met with the GCC leaders who, according to him, still see the US as the preferred partner
  • On Taiwan, Blinken said the US has real concerns about the direction it has taken and blamed China for what he called as reckless actions