INSEAD Day 4 - 728x90

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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

Human ancestor Lucy gets first European showing in Prague

Prague, Czech Republic --The 3.18-million-year-old bone fragments of human ancestor Lucy, which rarely leave Ethiopia, went on display in Prague...

Science

Turkey starts supplying Azerbaijani gas to boost Syria’s power output

Istanbul, Turkey - Turkey on Saturday turned on a supply of natural gas from Azerbaijan to Syria, whose infrastructure was...

Geostrategy
Business

Why did Iran stop importing rice, tea from India? 

Speculations are rife that the decision by Tehran could have been taken in retaliation to India's suspension of the import...
  • Iran has several alternatives for importing tea. Kenya has been selling India tea for nearly half the rate of Indian tea
  • In terms of numbers, Iran’s rice imports in Apr-Sept 2022 stood at $641.66m, while tea imports in the Jan-Sept period stood at $66.39m
Economy

European gas prices fall to lowest level since record high in 2022

A mild winter has enabled countries to tap less gas from stocks that were built up in anticipation of cuts...
  • Gas exports by Russian energy giant Gazprom to the European Union and Switzerland fell by 55 percent last year, the company said Monday.
  • Europe was previously Gazprom's main export market but supplies have been drastically reduced because of sanctions following Russia's offensive in Ukraine in 2022.
Business

Clean energy reaches 14 percent of Dubai’s total power production

DUBAI, UAE - MD and CEO of Dubai Electricity and Water Authority (DEWA) has announced that the production capacity of...
  • Mohammed bin Rashid Al Maktoum Solar Park is the largest single-site solar park in the world using the Independent Power Producer model.
  • Dubai's clean energy was also produced using photovoltaic solar power and concentrated solar power.

Twitter outages hit thousands of users worldwide

DownDetector reported a spike in issues with Twitter starting around 7 pm Eastern time (midnight GMT), with users unable to...
  • At the peak of the outage, DownDetector clocked more than 10,000 complaints in the United States, as the hashtag #TwitterDown trended on the platform
  • Web monitor NetBlocks said the outages were international and not related to country-level internet disruptions or filtering
Economy

Sharjah approves $9bn general budget for 2023

The general budget for this year aims to achieve financial sustainability and enhance the economic competitiveness of the emirate.
  • The general budget for this year aims to achieve financial sustainability and enhance the economic competitiveness of the emirate
  • The budget has adopted many goals, priorities and strategic indicators with economic, social, scientific and cultural dimensions.
Economy

UAE Cybersecurity Council warns against cyber attacks during New Year celebrations

The council highlighted the need for all authorities and institutions to activate their cyber defence systems.
  • The council highlighted the need for all authorities and institutions to activate their cyber defence systems
  • It also noted that hacking tools have now become easier to use, enabling hackers to take advantage of the holiday season
Economy

Tunisia to raise new taxes to close budget deficit

The state, saddled with a crippling public wage bill and politically sensitive subsidies, is set to take in around 46.4...
  • The 2023 budget comes as the North African country grapples with eye-watering public debt, shortages of goods from sugar to petrol and inflation at nearly 10 percent
  • The latest plans aim to cut the budget deficit from 7.7 percent of gross domestic product to 5.2 percent, Finance Minister Sihem Boughdiri told journalists
Business

Export Bahrain, BCCI to facilitate global market access for local businesses

Manama, Bahrain--- Export Bahrain and the Bahrain Chamber of Commerce and Industry have signed an MoU to support Bahrain-based businesses in...
  • The two entities will facilitate the business community in Bahrain to attract strategic investment partnerships and enhance the competitive work environment in the Kingdom.
  • The access to markets will be enabled through seminars, webinars, workshops and trade exhibitions.
Economy

US Congress green-lights $1.7 trillion in government spending

The $1.7 trillion blueprint passed by senators on Thursday was rubber-stamped by the House of Representatives just hours ahead of...
  • Failure to get the package to Biden's desk would have been an embarrassment, days after his Ukrainian counterpart Volodymyr Zelensky visited the White House
  • Nine Republicans crossed the aisle to help the package cross the line by 225 votes to 201, while one Democrat - New York progressive Alexandria Ocasio-Cortez - voted no
Business

Citi names new co-heads of emerging markets division in EMEA

Shaikh and Girach have worked at the bank for about 20 years.
  • Rizwan Shaikh and Hamza Girach have worked at the bank for about 20 years
  • Girach was a member of the group that covered Saudi Aramco's historic IPO in 2019

Human ancestor Lucy gets first European showing in Prague

Prague, Czech Republic --The 3.18-million-year-old bone fragments of human ancestor Lucy, which rarely leave Ethiopia, went on display in Prague...
Science

Company News

Latest News

Saudi non-oil exports increase by 19 percent in July: GASTAT

Riyadh, Saudi Arabia -- Saudi Arabia's non-oil exports, including re-exports, during July 2024 amounted to SAR25.4 billion ($6.76 billion), compared...
Business

OECD raises growth forecast, calls for higher property taxes

Paris, France -- The OECD on Wednesday slightly raised its world economic growth forecast for 2024 but called for higher property...
Economy

UAE’s e& bends to European Union foreign subsidy rules

Brussels, Belgium -- The European Commission gave the green light Tuesday for an Emirati group to acquire the assets of a...
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Geostrategy

Media gag and manufactured consent: Israel’s campaign against Lebanon

Beirut, Lebanon: On Sunday, Israeli troops stormed the Al Jazeera office in the occupied West Bank and issued a 45-day...
  • Israel's claim last year that Gaza's largest Al-Shifa Hospital housed Hamas command center was debunked by many.
  • Before launching deadly strikes on Lebanon, Israeli military released videos claiming civilian homes housed arms.
Business

ADNOC Distribution H1 dividend $350m

The total dividend for 2024 is expected to be $700 million.
  • The second and final portion of 2024 dividend is expected to be paid in April 2025, in accordance with the recommendations of the Board of Directors and shareholder approval.
  • The company's cash dividend paid since its initial public offering totaled AED 16.2 billion ($4.4 billion), including cash dividends for the first half of 2024.
Geostrategy

DCO launches Digital Economy Navigator to bridge global digital gap

The navigator enables countries to better navigate their digital journeys, find opportunities for growth and benchmark progress,
  • DEN was unveiled at SDG Digital, held this year during the 79th Session of the UN General Assembly in New York from September 10 to 27.
  • DEN is a unifying framework that addresses digital economy maturity across 50 countries, including the DCO member states.