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.

Steady and sensible, Oman builds its future brick by brick amid the Gulf’s glittering rush

With volatile geopolitics and the resulting uncertainty, the year 2025 has been challenging for most of the countries across the...

Economy

Anthropic announces massive AI chip deal with Google

San Francisco, United States - Artificial intelligence giant Anthropic said Thursday it was expanding its use of Google cloud computing...

Science
Economy

FAO says global food prices fell 13.7 percent in 2023

World food prices fell in 2023, with considerable declines for grains and oils as supply concerns eased, the UN's Food...
  • Overall, world food commodity prices fell 13.7 percent in 2023 compared to the previous year, Rome-based FAO said.
  • The vegetable oil price index posted the biggest fall last year, dropping 32.7 percent, thanks to improved supplies and reduced use for biofuel production.
Economy

Saudi insurance sector targets 25m beneficiaries by 2030

Riyadh, Saudi Arabia - Saudi Arabia saw an 18% surge in health insurance beneficiaries in 2022, reaching a total of...
  • The expansion in the sector is largely propelled by the introduction of the mandatory health insurance for private sector workers and their dependents
  • Saudi Arabia saw an 18% surge in health insurance beneficiaries in 2022, reaching a total of 11.5 million individuals by year-end
Economy

‘Major shifts are reshaping the Arab world’s future’

"Most of the global trends are positive if analyzed in terms of economic value. Countries have developed and lifted millions...
  • Al Gergawi emphasizes the pivotal role of Gulf countries in shaping global agendas, from environmental discussions at COP28 to major events like the World Cup.
  • He underlines the criticality of understanding the new global changes, including tech advancements, and the balance between positive global trends and challenges.
Business

Penguin, SkyBlue ink MoU

The aim is to redefine outdoor media advertising in Abu Dhabi.
  • Penguin and SkyBlue will collaborate on key advertising locations, with this being the Malaysian firm’s first move into the Abu Dhabi market.
  • This follows an agreement between the Malaysian outdoor advertising company with the Road and Transport Authority (RTA), Dubai.
Business

Dubai Duty Free achieves all-time record sales of over US$2.16bn in 2023

DUBAI, UAE - The New Year began on a high note for Dubai Duty Free with the announcement of an...
  • December 2023 finished for Dubai Duty Free with record monthly sales of US$221 million, an 8.37 percent increase compared to 2022.
  • It's 40th anniversary celebrations offered a 25 percent discount on December 20 which led to a shopping spree of $14.8 million in 24 hours.
Economy

Private sector funding key to climate transition: World Bank

The World Bank raised its target for climate-related projects from 35% of its annual financing to 45%. Given that the...
  • On Wednesday, Banga repeated a previous pledge to "fix the plumbing" of World Bank
  • World Bank estimated that developing countries will need an average of $2.4trn each year
Economy

Oil prices jump, stocks slump after Iran blasts

"Heightened tensions in the Middle East following a bomb blast at a ceremony honouring a slain general in Iran have...
  • Oil prices spiked more than three percent after twin bomb blasts ripped through a crowd commemorating Revolutionary Guards general Qasem Soleimani
  • Equities were also under pressure as investors worried that the stocks rally in the final months of 2023, on hopes of interest rate cuts in 2024, may have gone too far
Economy

Jordan’s public debt rises to $46.1bn by Oct 2023 end: Ministry

Dubai, UAE -- Jordan's public debt till the end of October 2023 has risen to $46.1 billion, 89.6 percent of...
  • The Ministry of Finance said the government had borrowed $3.8 billion in the first ten months of 2023.
  • In Dec, Jordan approved the 2024 budget with a deficit of $1.6 billion, expecting the country's public debt this year would make up 88.3 percent of the GDP.
Economy

Turkey’s inflation rate nears 65 percent in December

Turkey's official annual inflation rate ticked up to 64.77 in December, from 61.98 percent in November. But the month-on-month pace...
  • Economists expects inflation to start falling from near record highs within four months
  • The rate reached a decades-long high of 85 percent in October of 2022
Economy

Saudi Arabia set to open its first financial center

Riyadh, Saudi Arabia - Saudi Arabia is poised to launch its inaugural financial center, with unified and standardized policies and...
  • Chairman of the Steering Committee at the Ministry of Finance, Abdul Aziz Al-Furaih highlighted the advantages of transitioning to accrual-based accounting
  • Hamad Al-Kanhal, Deputy Minister of Finance for Financial Affairs and Accounts, underlined the shift to accrual-based accounting as part of Vision 2030

Steady and sensible, Oman builds its future brick by brick amid the Gulf’s glittering rush

With volatile geopolitics and the resulting uncertainty, the year 2025 has been challenging for most of the countries across the...
Economy

Company News

Latest News

Global stocks mostly rise as Trump grants auto tariff relief

Stocks moved sideways on Monday after notching four straight positive sessions last week as Trump adopted a more conciliatory posture...
Economy

Saudi Arabia and Qatar to settle Syria’s World Bank debt

Riyadh, Saudi Arabia -- Saudi Arabia and Qatar announced on Sunday that they would settle Syria's debt to the World...
Geostrategy

Trump trade war pushes firms to consider stockpiling

Even if they don't all acknowledge it so openly, firms in many different sectors are stockpiling their products in the United...
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Economy

IMF, World Bank welcome efforts for Syria to reintegrate globally

Washington, United States - The International Monetary Fund and World Bank's leaders said in a joint statement Thursday that they...
  • The statement, issued with Saudi Arabia's finance minister, came as Syria's central bank governor and finance minister attended the IMF and World Bank's spring meetings
  • Significant amounts of Syria's infrastructure have been destroyed by 14 years of war, beginning with a crackdown by president Bashar al-Assad on a pro-democracy movement
Geostrategy

Lebanon parliament approves changes to banking secrecy law

Beirut, Lebanon -- Lebanon's parliament on Thursday approved amendments to banking secrecy legislation, a key reform demanded by the International...
  • The international community has long demanded major fiscal reforms to unlock billions of dollars in aid to restart the Lebanese economy in the wake of a five-year economic collapse
  • The crash since 2019 has seen the local currency lose most of its value against the US dollar and has pushed much of the population into poverty.
Economy

The game of ‘chicken’ being played with the world economy can be brought to a cooperative end

A meaningful “G3” accord between the US, Europe, and China must include coordinated fiscal, monetary, development, and trade policies. From...
  • The hardline positions of the US and China on trade and tariffs are putting the world economy at risk, writes Richard Samans
  • Yet, Europe could broker a 'positive off-ramp' that fires on all of the cylinders of international cooperation