INSEAD Day 4 - 728x90

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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.

ChatGPT to get parental controls after teen’s death

Paris, France -- American artificial intelligence firm OpenAI said Tuesday it would add parental controls to its chatbot ChatGPT, a...

Geostrategy

Eight OPEC+ countries raise production by 547,000 bpd to regain market share

Iraq, United Arab Emirates, Kuwait, Kazakhstan, Algeria and Oman, along with the Saudis and Russians currently produce about 41-42 mbd.

Geostrategy
Geostrategy

Syria does not merit readmission into Arab League: US

"We continue to believe that we will not normalize our relations with the Assad regime and we don't support our...
  • Patel, however, played down the disagreements and said that the United States shared common objectives with many its Arab partners on Syria.
  • He said that the United States would also work with Arab partners on expanding humanitarian access to Syrians.
Business

Yahsat posts record Q1 revenue

Net income increased by 35 percent during the quarter.
  • In a statement, the company said the growth in revenue was primarily driven by the Managed Solutions segment,
  • Infrastructure, the Group’s largest business segment, reported AED220 million [$60 million] in revenue for the period.
Business

Invictus Q1 revenue up 31%

The company posted its highest-ever quarterly sales.
  • The company's earnings in Africa region reached AED1.7 billion and in the Middle East AED489 million, reflecting a growth of 48.5 percent.
  • A 39 percent increase in net profit to AED93 million was recorded in the first quarter, compared to the last quarter of 2022.
Business

Record surge in number of attendees at Arabian Travel Market 2023

Dubai, UAE -- More than 40,000 people – including 30,000 visitors – attended the 30th edition of Arabian Travel Market...
  • More than 40,000 people – including 30,000 visitors – attended the 30th edition of the event, which concluded last week in Dubai.
  • This not only represents a year-on-year increase of 29 percent in attendees compared to 2022, but it also represents a 5 percent increase over 2019.
Business

Poll: Competence, quality key to boost GCC logistics

The TRENDS poll highlights the need to invest in transportation infrastructure, streamline customs procedures, and improve warehousing and distribution capabilities.
  • The TRENDS poll highlights the need for GCC nations to invest in transportation infrastructure, streamline customs procedures, and improve warehousing and distribution capabilities
  • The UAE emerges as a leader in quality infrastructure, ranking first in the MENA region and 11th globally in the Quality Infrastructure Index for Sustainable Development, it adds
Business

SAB Alawwal Q1 profit up 76%

The first quarter customer deposits increased by 17% on Q1 2022.
  • The bank's total operating income grew by 60 percent to SAR 3.21 billion net customer advances by 8 percent to SAR 191 billion.
  • Lubna S. Olayan, Chair of the Board of Directors of SAB Alawwal, said both Q1 profit and operating income were a record for the bank.
Geostrategy

EU ‘appalled’ after Israel demolishes Palestinian primary school

Jabbet Al-Dhib , Palestinian Territories -- Israeli forces on Sunday demolished a Palestinian primary school in the occupied West Bank, citing...
  • The school served 45 students and consisted of five classrooms. It had replaced another demolished by Israel in 2019, Palestinian education ministry said.
  • The EU called on Israel to "halt all demolitions and evictions, which will only increase the suffering of the Palestinian population and further escalate tensions.
Geostrategy

UN aid chief in Saudi Arabia for Sudan talks as fighting flares

Multiple truce deals have been declared and quickly violated since battles erupted between army and paramilitary forces on April 15...
  • Talks in Jeddah were aiming for a ceasefire that could push efforts to bring humanitarian aid to the besieged population.
  • Arab League Secretary General Ahmed Aboul Gheit expressed his support for the "indirect negotiations" in order to prevent "an escalation of the current conflict".
Business

Saudi Arabia’s real GDP grows by 3.9 percent in first quarter

Riyadh, Saudi Arabia -- The real GDP of Saudi Arabia grew by 3.9 percent in the first quarter of 2023,...
  • The kingdom saw a 5.8 percent increase in non-oil activities and a 1.3 percent increase in oil activities over Q1 of 2022.
  • Saudi Arabia’s economic growth is expected to accelerate by 3 percent in 2023 backed by a robust non-oil sector. 
Business

Pakistan and Oman agree to boost air travel, promote tourism

Muscat, Oman -- Pakistan and Oman have agreed to boost air travel between the two countries' airports, reports said. The...
  • An Omani delegation, led by Naif Ali Al Abri, Chairman of the Civil Aviation Authority, held a series of meetings with Pakistani officials.
  • Recently, the two countries also resolved to broaden bilateral relations, especially in strategic, economic and trade spheres.

ChatGPT to get parental controls after teen’s death

Paris, France -- American artificial intelligence firm OpenAI said Tuesday it would add parental controls to its chatbot ChatGPT, a...
Geostrategy

Company News

Latest News

Boeing to cut 10% of workforce

The aviation giant has projected a large third-quarter loss.
Business

World merchandise trade to rise by 2.7% in 2024: Global Trade Outlook

There was a 2.3% year-on-year increase in the first half of 2024 and WTO economists anticipate the volume will increase...
Economy

Japanese group wins peace Nobel, says Gaza like Japan 80 years ago

Nihon Hidankyo, a grassroots movement of atomic bomb survivors from Hiroshima and Nagasaki, also known as Hibakusha, received the honor...
Geostrategy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Geostrategy

WTO predicts modest trade growth for 2024-25 amid geopolitical risks

In 2024 and 2025, inflation is expected to gradually abate, allowing real incomes to grow again in advanced economies, boosting...
  • Risks to the forecast are on the downside “due to current geopolitical tensions and policy uncertainty. Middle East troubles have diverted sea shipments between Europe and Asia.
  • It added that import demand in real terms was weak in 2023 in most regions, especially in Europe but also in North America and Asia.
Business

AviLease acquires 9 aircraft from Avolon

AviLease had purchased 13 aircraft from Avolon in 2023.
  • AviLease aircraft portfolio now comprises 167 owned aircraft, including purchase commitments, and 23 managed aircraft on lease to 48 airlines globally.
  • AviLease said the acquired portfolio offers attractive yields and further contributes to the diversification of its portfolio.
Business

ADNOC L&S to pay $136.5m dividend

This is equivalent to 6.78 fils per share, the company said.
  • The Company intends to distribute a total dividend amount of $273 million (AED1,002.6 million) for the full year.
  • The H1 2024 dividend will be paid to shareholders who own ADNOC L&S shares on the record date of 17th October 2024.