INSEAD Day 4 - 728x90

Global

Google to invest $6.4bn

The investment is its biggest-ever in Germany.

Pfizer poised to buy Metsera

The pharma giant improved its offer to $10bn.

Ozempic maker lowers outlook

The company posted tepid Q3 results.

Kimberly-Clark to buy Kenvue

The deal is valued at $48.7 billion.

BYD Q3 profit down 33%

This was a 33% year-on-year decrease.

OPEC Fund provides US$50m loan to support agriculture in quake-hit Türkiye

VIENNA, AUSTRIA – The OPEC Fund for International Development (OPEC Fund) is extending a US$50 million loan to Türkiye to...

Geostrategy

EGA to acquire Leichtmetall

EGA is to buy 100 percent of firm from Leichtmetall Holding.

Business
Science

UN chief calls for protection of biodiversity on International Mother Earth Day

NEW YORK, US -  UN Secretary-General António Guterres issued a statement calling for urgent action to protect the environment and...
  • The UN chief highlighted the crucial relationship between humanity and the natural world.
  • He called for deeper and faster emissions cuts to limit global temperature rise to 1.5 degrees Celsius.
Science

SpaceX Starship, world’s biggest rocket, explodes during first flight test

Starship, the most powerful rocket ever built, exploded during its first flight, but Elon Musk congratulated his SpaceX team on...
  • The Starship spacecraft that will eventually carry crew and cargo had been scheduled to separate from the first-stage rocket booster three minutes into the flight.
  • Despite the failure to complete the full 90-minute flight test and reach orbit, SpaceX and Musk, the founder and CEO of the private space company, declared it a success.
Economy

WTO, WBG, WEF launch scheme for trade, climate mitigation efforts

GENEVA, SWITZERLAND - The World Trade Organization (WTO), the World Bank Group (WBG) and the World Economic Forum (WEF) on...
  • The initiative Action on Climate and Trade (ACT) . which starts with a pilot phase, will focus on working with participating developing economies.
  • ACT will provide participating economies with tailored insights so that they can plan for the impacts of climate change on trade.
Market Report

Stocks mixed, dollar firms on rate-hike fears

Stock markets traded mixed as last week's optimism gave way to worries that central banks may wait longer than expected...
  • The dollar firmed on prospects of more US rate-tightening and oil prices slipped.
  • Cooler inflation is said to have eased the pressure on the European Central Bank.
Geostrategy

WFP stops Sudan operation after three members killed in violence

The UN's food agency said it was suspending work in Sudan after three staff were killed in the Darfur region,...
  • "While we review the evolving security situation, we are forced to temporarily halt all operations in Sudan," said a WFP official.
  • Fighting in Sudan raged for a second day in battles between rival generals who seized power in a 2021 coup.
Geostrategy

Arab nations gather to discuss ending Syria’s long isolation

Arab countries gathered in Jeddah on Friday to discuss ending Syria's long spell in the diplomatic wilderness as regional relations...
  • The Jeddah meeting is one of a flurry of initiatives following Saudi Arabia and Iran's landmark announcement on March 10 that they would resume ties.
  • Although the Arab League takes decisions by consensus, unanimous agreement is unlikely, said a Riyadh-based diplomat who declined to be identified.
Economy

UAE minister stresses G20 and COP28 collaboration at WBG meet

The members also exchanged views on progressing the implementation of Multilateral Convention to Implement Tax Treaty Related Measures to Prevent...
  • Mohamed Hadi Al Hussaini, Minister of State for Financial Affairs, led the UAE delegation at the meeting, held on the sidelines of the 2023 Spring Meetings.
  • Ministers of Finance and Central Bank Governors from G20 member countries, invited countries, and international organizations attended the meeting.
Market Report

Stocks jump, dollar falls as Federal Reserve seen curbing rate rises soon

Equity markets rose, with Paris hitting a record-high, as investors reacted positively to easing inflation, recession concerns and some strong...
  • In a sign of cooling inflation, Singapore's central bank kept rates steady, having previously hiked five times in a row.
  • Stocks advanced "on increasing signs that the global round of interest rate hikes could be drawing to a close".
Economy

IMF chief calls upon global community to avert a ‘second Cold War’

Countries must do more to avert the costly consequences of growing global trade fragmentation, and help avert a "second Cold...
  • Multilateral institutions like the World Bank and IMF have an important role to play in preventing the world from splintering into different blocs.
  • An IMF report said that growing trade fragmentation due to Brexit, US-China trade war and Russian invasion of Ukraine, could make the global economy.
Geostrategy

Russia to withdraw from grain deal if all conditions are not fulfilled

Russia delivered a new warning to the West over a grain deal with Ukraine, saying a number of conditions must...
  • Russia, whose economy has been hit by a raft of Western sanctions, has repeatedly threatened to walk away from the agreement if obstacles to its own exports remain.
  • There are no sanctions on Russian exports of food and fertilizers to global markets but the problems are related to sanctions on shipping, insurance companies and banks.

OPEC Fund provides US$50m loan to support agriculture in quake-hit Türkiye

VIENNA, AUSTRIA – The OPEC Fund for International Development (OPEC Fund) is extending a US$50 million loan to Türkiye to...
Geostrategy

Company News

Latest News

Global personal computer shipments decline 14.8 percent in 2023

DUBAI, UAE - Worldwide PC shipments totaled 63.3 million units in the fourth quarter of 2023, a 0.3 percent increase...
Business

Saudi Arabia to highlight role in dealing with global challenges at WEF meet

RIYADH, SAUDI ARABIA – Minister of Industry and Mineral Resources Bandar Ibrahim Alkhorayef said that the Kingdom’s participation in the...
Economy

Yemen’s Houthi rebels have built a significant arsenal  

DUBAI, UAE - Yemen's Houthi rebels, who vowed to retaliate against US and British strikes early on Friday against key military...
Geostrategy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Geostrategy

Top global leaders to attend WEF meet amid Gaza, Ukraine war

Paris, France - US Secretary of State Antony Blinken, Israeli President Isaac Herzog and Middle East leaders will attend a World...
  • Blinken and US National Security Advisor Jake Sullivan will be among 2,800 participants at the forum, including more than 60 heads of state and government.
  • Argentina's libertarian new president, Javier Milei, French President Emmanuel Macron and Chinese Premier Li Qiang will also participate in the forum.
Economy

UAE economy likely to grow by 3.8 percent in 2025, says World Bank

WASHINGTON, US - The World Bank expected the UAE's real GDP to grow by 3.4 percent in 2023, rising to...
  • The World Bank forecast the growth in the Gulf Cooperation Council countries to rise to 3.6 percent in 2024 and 3.8 percent in 2025.
  • The report said that the growth rate in the Middle East and North Africa region slowed down sharply to 1.9 percent in 2023.
Geostrategy

2023 hottest recorded year as Earth nears critical threshold

PARIS, FRANCE - The year of 2023 was the hottest on record, with the increase in Earth's surface temperature nearly crossing...
  • Climate change intensified heatwaves, droughts and wildfires and pushed the global thermometer 1.48 C in 2023 above the preindustrial benchmark.
  • Nearly half of 2023 exceeded the 1.5C limit, beyond which climate impacts are more likely to become self-reinforcing and catastrophic, said scientists.