INSEAD Day 4 - 728x90

Geostrategy

DEWA posts record H1 profit

Revenue reaches record $4.04 billion.

Tabreed H1 revenue $308m

Blurb: Profit reaches $52 million in H1

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.

Price of natural gas in Europe falls to a 3-year low

LONDON, UK – The price of natural gas in Europe fell again on Friday, taking it to its lowest in almost...
  • Gas reserves, which are usually drawn down during winter for heating, are at 64.7 percent of storage capacity on average in the European Union.
  • Gas prices soared in 2022 and into 2023 as Russia's invasion of Ukraine made EU countries limit consumption and diversify their sources of supply.

ADGM’s Registration Authority fines two firms for audit failings

ABU DHABI, UAE – The Registration Authority (RA) of Abu Dhabi Global Market has fined Baker Tilly Middle East Limited...
  • The RA fined Baker Tilly US$50,000 and Sturgeon US$12,500 for serious failings and gaps in the financial audit
  • The RA expects ADGM firms to conduct and prepare audit reports in accordance with professional standards.

Shipping insurance rates soar on Red Sea missile attacks

Maritime container transport has sunk by almost one third so far in 2024 compared with a year earlier, according to...
  • The Houthis have carried out relentless attacks since November on shipping transiting the Red Sea, a maritime hub through which 12 percent of global trade usually passes
  • Premiums for ships have "increased significantly" following the Houthi attacks, according to Frederic Denefle, head of Garex, a French firm specialized in marine risk insurance

Jordan, Oman sign agreements to ramp up investments

Amman, Jordan--Jordan and Oman have signed a raft of agreements to boost direct investment in both the countries. The first...
  • In 2022, Jordan exported $70.2 million worth of goods to Oman, while Jordan imported $57.4 million worth of goods from Oman
  • The agreements between the two countries aim to establish partnerships for investment and trade between the two business sectors

Israel kills two Hizbollah fighters in drone strike

A security source said that an Israeli drone shot two guided missiles at the building in Kfar Rumman, near the...
  • Hizbollah confirmed that two of its fighters had been killed by Israeli fire
  • The Lebanese armed group said it had fired rockets at Israel in response

Houthi missile attack damages British-owned ship off Yemen

Dubai, United Arab Emirates - Yemen's Iran-backed Houthi rebels fired two missiles at a British-owned cargo ship passing through the Gulf...
  • The rebels, who control much of Yemen, have carried out months of attacks on merchant vessels in the Red Sea and the Gulf of Aden
  • The Houthis said they had also "fired a number of ballistic missiles and drones at various targets of the Zionist enemy" in the Israeli Red Sea resort of Eilat

Islamophobia rises threefold in UK after Israel-Hamas conflict

"We are deeply concerned about the impacts that the Israel and Gaza war are having on hate crimes and on...
  • Tell MAMA recorded 2,010 such cases in the four months since Hamas's deadly attack against Israel on October 7 sparked the conflict
  • Some 901 cases occurred offline while 1,109 were online and most of the offline incidents took place in the British capital London

Palestinian gunmen kill 1 Israeli, injure 8 others in occupied West Bank

The shooters were "neutralized", police said, and an AFP photographer later saw two bodies at the scene of the attack...
  • Israel's internal security service Shin Bet identified the gunmen as Mohammed Zawahrah, 26, his brother Kathim Zawahrah, 31, and Ahmed al-Wahsh, also 31
  • The attack near Maale Adumim came after two people were shot dead last Friday at a bus stop in southern Israel near the town of Kiryat Malakhi

Israel parliament rejects unilateral recognition of Palestinian state

On Wednesday, Israel's parliament backed Netanyahu's proposal of opposing any unilateral recognition of a Palestinian state, with 99 out of...
  • The vote came days after media reported that US and a small group of Arab nations were working out a comprehensive plan for long-term peace between Israel and the Palestinians
  • Media reported that the plan would begin with a ceasefire expected to last at least six weeks, with officials hoping that an agreement could be reached before the start of Ramadan

Saudi foreign minister seeks G20 action on Gaza

Rio de Janeiro, Brazil - Saudi Foreign Minister Prince Faisal bin Farhan called on G20 nations to apply pressure for...
  • Prince Faisal voiced these sentiments during the inaugural session of the G20 Foreign Ministers' Meeting in Rio de Janeiro, Brazil
  • The Saudi minister underlined the imperative for international institutions to uphold their commitments globally and adopt clearer stances

Bondi shooting responders honoured at Sydney Ashes Test

Sydney, Australia -- England and Australia's cricket teams honoured at the fifth Ashes Test in Sydney on Sunday emergency service...

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Lebanon’s Hezbollah rejects cabinet decision to disarm it, terms it a grave sin

Hezbollah said Wednesday that it would treat a Lebanese government decision to disarm the militant group "as if it did...

Only 1.5% of Gaza farmland usable, reveals latest satellite survey published by FAO

The survey, which dates from July 28, found that 8.6 percent of Gaza's farmland was accessible, but only 1.5 percent,...

Israel bars Jerusalem’s top Muslim cleric from Al-Aqsa: lawyer

Israeli authorities have banned Jerusalem's top Muslim cleric from entering the Al-Aqsa Mosque compound for six months over a recent...
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Netanyahu says Israel must complete defeat of Hamas to free hostages, secure Israel

Israeli media said the premier was considering ordering the total occupation of the Palestinian territory, with public broadcaster Kan reporting...
  • "It is necessary to complete the defeat of the enemy in Gaza, to free all our hostages and to ensure that Gaza will no longer pose a threat to Israel," Netanyahu said
  • Netanyahu's office said he held a three-hour "security discussion" on Tuesday with army chief Eyal Zamir, but did not disclose any new war plans

UN experts call for Israel-backed Gaza Humanitarian Foundation to be dismantled

"The GHF ... is an utterly disturbing example of how humanitarian relief can be exploited for covert military and geopolitical...
  • On July 22, the UN rights office said Israeli forces had killed more than 1,000 Palestinians trying to get food aid in Gaza since the GHF started operations.
  • The joint statement was signed by Francesca Albanese, the UN's special rapporteur on the rights situation in the Palestinian territories occupied since 1967.

Meta says working to thwart WhatsApp scammers

San Francisco, United States -- Meta on Tuesday said it shut nearly seven million WhatsApp accounts linked to scammers in...
  • Meta on Tuesday said it shut nearly seven million WhatsApp accounts linked to scammers in the first half of this year.
  • Meta on Tuesday began prompting WhatsApp users to be wary when added to unfamiliar chat groups by people they don't know.