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.

China’s consumer prices rose in Oct, reversing stagnation

Beijing has struggled to maintain a strong economic recovery from the pandemic, as it fights a debt crisis in its...

Economy

OpenAI signs $38 bn infrastructure deal with cloud giant AWS

Under the seven-year agreement, OpenAI, which is partly owned by AWS's archrival Microsoft, will gain access to computing resources including...

Business
Economy

Abu Dhabi establishes Artificial Intelligence and Advanced Technology Council

Abu Dhabi, UAE-- The UAE President Sheikh Mohamed bin Zayed Al Nahyan has issued a law, as the ruler of...
  • The council has been set up to develop policies and strategies related to research, infrastructure and investments in AI in Abu Dhabi
  • It will formulate plans in collaboration with local and global partners to enhance Abu Dhabi's status in the fields of artificial intelligence
Economy

Saudi Arabia expects to attract 150 million visitors by 2030

Riyadh, Saudi Arabia - Saudi Arabia aims to attract 150 million visitors by 2030, with the tourism sector expected to...
  • Saudi tourism Al-Khateeb noted a 156% increase in tourist arrivals compared to 2019, surpassing the global recovery rate from the pandemic by 88%
  • He said that the tourism sector's contribution to GDP increased to 4.5%, representing 7% of non-oil GDP, attributing the success to well-executed plans
Economy

Rising costs, debt challenges grip Egypt’s economy

Egypt begins 2024 with steep increases in essential services' prices, exacerbating the economic strain on its citizens amidst a broader...
  • Egypt begins 2024 with steep increases in essential services' prices, exacerbating the economic strain on its citizens amidst a broader economic crisis.
  • The government seeks to stabilize the economy through IMF program renewal amid challenges like rising foreign debt and fluctuating exchange rates.
Business

ASFAR, Municipality of Al-Ahsa sign agreement

RIYADH, SAUDI ARABIA - ASFAR, the Saudi tourism investment company wholly owned by the Public Investment Fund of Saudi Arabia,...
  • The agreement aims to develop a major tourism attraction in the Eastern Province of the Kingdom of Saudi Arabia.
  • The partnership between ASFAR and the Municipality of Al-Ahsa is set to transform the Eastern Province’s leisure and hospitality sectors.
Economy

Bahrain Q4 2023 imports increase to US$3.92bn

MANAMA, BAHRAIN - The Information eGovernment Authority (iGA) has published its foreign trade report of Bahrain for Q4 2023, covering...
  • The top 10 countries accounted for 69 percent of Bahrain's total export value.
  • The value of exports with national origin was of $2.89 billion during Q4 2023.
Economy

European Central Bank to signal no rush to cut interest rates

The Frankfurt institute is tipped to pause for the third meeting in a row following a historic run of hikes...
  • The ECB is "in no rush yet" to change course and governors may not even discuss cuts at this week's meeting, Deutsche Bank economists wrote
  • "We expect Thursday's ECB press conference to again highlight the exceptionally low possibility of a rate cut before the summer," agreed Unicredit in an analyst note
Economy

Saudi Arabia lists priority specializations for Special Talent Residency

Riyadh, Saudi Arabia - Saudi Arabia's Premium Residency Center on Sunday revealed a list of priority specializations that qualify individuals...
  • Saudi Arabia is actively seeking to attract top-tier talents and minds globally, encouraging them to reside and work in the country to foster development
  • The specified specializations that make expatriates eligible for Special Talent Residency encompass a diverse range of sectors
Business

Quiet and not-so-quiet luxury at Paris Fashion Week

PARIS, FRANCE - The Paris Fashion Week menswear shows draw to a close on Sunday. Here are some of the highlights...
  • Celebrity presence has always been a big part of the fashion game, with sporting tie-ups playing an increasingly big role.
  • New York label KidSuper scored big by convincing Brazilian footballer Ronaldinho to walk the catwalk.
Business

UAE foreign investment projects second highest in world: UNCTAD

Abu Dhabi, UAE -- The UAE recorded the second-highest increase in the number of new foreign investment projects around the...
  • The number of these projects increased by 28 percent compared to 2022, said the UNCTAD report entitled “Investment Trends Monitor”.
  • Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, emphasized that the UAE is benefiting from the forward-looking vision of its leadership.
Business

ArcelorMittal wants ‘amicable solution’ on Italy steelworks

ROME, ITALY - ArcelorMittal has offered to sell its stake or become a minority shareholder in an Italian steelworks after Rome...
  • Italy considers the steelworks a strategic asset, but it has long been plagued by financial problems and environmental concerns.
  • Talks with ArcelorMittal, which owns a 62-percent stake, had broken down over how to keep production going.

China’s consumer prices rose in Oct, reversing stagnation

Beijing has struggled to maintain a strong economic recovery from the pandemic, as it fights a debt crisis in its...
Economy

Company News

Latest News

OPEC+ expected to open taps more despite price slump

The Organization of the Petroleum Exporting Countries and their allies - collectively known as OPEC+ - have justified their change...
Economy

United Kingdom renationalizes first train operator under Labor reforms

London, United Kingdom -- Britain's South Western Railways on Sunday becomes the first private train operator to be returned to...
Economy

Trump fires new 50% tariff threat at EU, drawing stiff response

Washington, United States - President Donald Trump rekindled the US trade war on Friday, threatening to impose a 50 percent...
Economy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Economy

UAE-Morocco consortium sign $14 billion worth of energy, water infrastructure projects

Morocco on Monday signed deals with an Emirati-Moroccan consortium for energy and water infrastructure projects, which according to one of...
  • The projects aim to "strengthen both water security and energy independence" in Morocco, the signatories said in a joint statement
  • The total investment amounts to nearly 130 billion dirhams by 2030, Taqa Morocco said in a separate statement
Business

China’s Xiaomi to invest nearly $7 bn in chips

Chinese tech giant Xiaomi will invest 50 billion yuan ($6.9 billion) in developing high-end smartphone chips, the firm's founder said...
  • Xiaomi, which sells goods from smartphones to vacuum cleaners and EVs, is one of China's most prominent consumer electronics firms.
  • Xiaomi took initial steps into semiconductors for smartphones with the launch of the firm's first in-house chip - the Surge S1 - in 2017.
Economy

China factory output beats forecasts, weathering tariffs

Beijing, China - Factory output in China grew at a faster rate than expected last month, official data showed Monday,...
  • Industrial production in the export powerhouse grew 6.1 percent on-year in April, according to figures published by the National Bureau of Statistics (NBS)
  • The reading was higher than the 5.7 percent forecast in a Bloomberg survey, but still lower than the 7.7 percent jump recorded for March