INSEAD Day 4 - 728x90

Geostrategy

Borouge okays $656m dividend

The company said dividend reflects its resilience

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

Gulf tourists say Polish mountain town is a cool place

Zakopane, Poland -- Saudi photographer Fahad Alayyash gazed over the Alpine-like panorama of the Tatras, Poland's highest mountain range --...

Business

Iran security chief meets officials in Iraq before Lebanon visit

Ali Larijani, the head of Iran's top security body, met with senior officials in Iraq on Monday, ahead of a...

Geostrategy
Geostrategy

UAE, Chile ink pact to exchange knowledge on energy sector

UAE's Ministry of Energy and Infrastructure signed a Memorandum of Understanding with its counterpart in Chile to exchange knowledge and...
  • Under the agreement UAE and Chile will exchange information, knowledge and expertise, hold high-level meetings to discuss issues.
  • The two sides will organise relevant academic research and enhance their cooperation in clean and renewable energy.
Geostrategy

UAE calls Borrell’s ‘jungle’ remark as ‘racist and disappointing’

"Borrell’s remarks are a disappointing development that comes at a time when all parties are aware of the importance of...
  • Borrell said in a speech in Bruges, Belgium that “Europe is a garden, but most of the rest of the world is a jungle, and the jungle could invade the garden”.
  • The UAE asked the Office of the High Representative to "provide a written explanation of the High Representative’s hurtful and discriminatory comments".
Geostrategy

New Kuwaiti government sworn in after political crisis

Kuwait's crown prince swore in a new government, less than a month after the emirate held parliamentary elections in which...
  • The new government team, led by Prime Minister Sheikh Ahmed Nawaf al-Ahmed Al-Sabah comes after lawmakers objected to an initial line-up in early October.
  • The new government will be tasked with dealing with "priority issues" such as development, investments and the fight against corruption.
Geostrategy

Will immediately respond to new EU sanctions, says Iran

Iran vowed an "immediate" response to the European Union as it prepares new sanctions on the Islamic republic after over...
  • Iran will "decide and act immediately in accordance with the decisions and actions" taken by EU member countries.
  • Iran has been rocked by demonstrations since the death of 22-year-old Amini and a crackdown on protesters.
Geostrategy

UAE contributes $25 million toward Al Makassed Hospital in East Jerusalem

Abu Dhabi, UAE---The United Arab Emirates will contribute $25 million toward Al Makassed Hospital in East Jerusalem in collaboration with...
  • At Al Makassed Hospital , it is expected that more than 130,000 people will benefit from its health services.
  • Sultan Mohammed Al Shamsi, Assistant Minister of Foreign Affairs, said the agreement reflected UAE's historic commitment to Palestinians.
Economy

Credit Suisse to pay US$495m to settle legacy case

It has agreed to pay $495 million as part of a deal reached with US prosecutors in a long-running dispute...
  • In the claim filed in 2013, Credit Suisse was criticized for not having provided sufficient information on the risks relating to $10 billion of mortgage-backed securities
  • Last year, Credit Suisse paid $600 million to financial guarantee insurer MIBA to settle other long-running litigation connected to the US subprime mortgage crisis
Economy

Biden faces tough options with Saudis after OPEC+ oil price hike

US National Security Advisor Jake Sullivan told CNN on Sunday that Biden would "act methodically, strategically" in re-evaluating US-Saudi relations,...
  • Saudi Arabia has insisted the OPEC+ decision was purely economic and said US weapons sales serve both countries' interests
  • The Biden administration has voiced openness to retaliatory measures in Congress by enraged fellow Democrats
Geostrategy

President Raisi of Iran accuses Joe Biden of “inciting chaos”

Accusing the US President Joe Biden of "inciting chaos" after he expressed support for protests in Iran, President Ebrahim Raisi...
  • The street violence has led to dozens of deaths, mostly among protesters but also among the security forces, and hundreds have of demonstrators been arrested
  • Biden had said Friday that "we stand with the citizens, the brave women of Iran
Business

DEWA’s Jebel Ali plant enters Guinness World Records for second time

It was named as the Largest Single-Site Water Desalination Facility in the World by the Guinness World Records.
  • The plant has the production capacity of 490 million Imperial Gallons of water per Day, which is equivalent to 2,227,587 Cubic Metres per Day.
  • DEWA aims to increase its SWRO production capacity to 303 MIGD by 2030, reaching 42 percent instead of its current share of 13 percent.
Geostrategy

Iraq investigates $2.5 billion ‘theft’ from tax agency

The anti-corruption commission announced Sunday it has launched an investigation and said in a statement that it will provide the...
  • The finance ministry's probe uncovered a theft of 3.7 trillion Iraqi dinars (about $2.5 billion) from the account of general commission for taxes at Rafidain Bank
  • Iraq ranks 157 out of 180 countries in Transparency International's corruption perceptions index and criminal charges are rare in the country

Gulf tourists say Polish mountain town is a cool place

Zakopane, Poland -- Saudi photographer Fahad Alayyash gazed over the Alpine-like panorama of the Tatras, Poland's highest mountain range --...
Business

Company News

Latest News

UN chief to visit Gaza border as Israel vows to go ahead with Rafah attack

On Saturday, UN chief Guterres plans to meet with aid workers on the Egyptian side of Rafah, just across the...

UN official urges $4bn humanitarian aid for cash-strapped Syria

Beirut, Lebanon - A UN official on Friday appealed for about $4 billion in humanitarian assistance for Syria, warning funding was...
Geostrategy

Iraqi PM to visit Washington for troop talks

Washington, US – President Joe Biden will welcome Iraq's prime minister on April 15 for talks on the US troop presence,...
Geostrategy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Geostrategy

US, Israel hold talks as Gaza truce plan fails at UN

Israel plans to send troops into Gaza's Rafah even without US support, Prime Minister Benjamin Netanyahu told Antony Blinken, as...
  • US has repeatedly blocked ceasefire resolutions at the UN Security Council but tried to pass a text mentioning an "immediate ceasefire as part of a hostage deal".
  • World leaders including staunch allies of Israel backed the renewed diplomatic push.
Geostrategy

Libya to continue Tunisia border closure till end of smuggling

Tripoli, Libya - Libya's shutdown of its main border crossing with Tunisia this week will remain in force until authorities put...
  • Authorities aim to "ensure the security of the borders and combat crime and smuggling," Interior Minister Imad Trabelsi said.
  • The crossing was shut down on Tuesday after clashes between armed groups and security forces on the Libyan side the night before.
Geostrategy

Israel seizes 800 hectares of land in West Bank on Blinken’s arrival

Israel's Finance Minister Bezalel Smotrich declared as "state lands" the area in the northern Jordan Valley. Israeli settlement watchdog Peace...
  • Settlements in the Palestinian territories are illegal under international law. Smotrich, who heads the extreme-right Religious Zionism party, lives in a settlement.
  • They are now home to more than 490,000 Israelis, who live alongside around three million Palestinians in the territory.