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

World Bank lifts 2026 growth forecast, warns of softer demand

The bank expects world GDP growth of 2.6 percent this year, according to its latest global economic prospects report. The...

Economy

Iran president says ‘rioters’ must not disrupt society

Pezeshkian accused the United States and Israel of "trying to escalate this unrest with regard to the economic discussion and...

Geostrategy
Geostrategy

Who recognises the existence of a Palestinian state?

Paris, France -- Israel's almost six-months-old war in Gaza since the October 7 attack has revived calls for Palestinians to be...
  • According to the Palestinian Authority, which rules parts of the occupied West Bank, 137 of the 193 UN members already recognize a Palestinian state.
  • Spain's left-wing Prime Minister Pedro Sanchez has announced plans to soon recognize a Palestinian state.
Business

Middle Eastern airlines passenger demand up 19.7 percent in Feb: IATA

Geneva, Switzerland -- The International Air Transport Association (IATA) released data for February 2024 global passenger demand, with total demand,...
  • Global passenger demand, with total demand, measured in revenue passenger kilometers (RPKs), rising 21.5 percent year-on-year (YoY).
  • Domestic demand rose 15 percent compared to February 2023; capacity was up 9.4 percent year on year and the load factor was 82.6 percent (+4.0ppt compared to February 2023).
Business

Joint Venture formed to develop Iraq’s Al Faw Grand Port, Economic Zone

Abu Dhabi, UAE -- AD Ports Group and the General Company for Ports of Iraq (GCPI) sign an agreement to...
  • The agreement also encompasses the potential investment, management, and operation of ports, economic zones, and related infrastructure in other cities in Iraq.
  • Both parties will explore investment opportunities and conduct the necessary feasibility studies related to ports, economic zones and other infrastructure under GCPI.
Geostrategy

Bodies of slain foreign aid workers taken out of Gaza

Israel's armed forces chief Herzi Halevi called the attack a "grave mistake", which he blamed on night-time "misidentification", adding in...
  • The Israeli military killed seven staff of the US-based food charity World Central Kitchen on Monday in an attack that UN chief Antonio Guterres labelled "unconscionable."
  • The seven deaths piled more pressure on Israel, whose war since the Hamas attack of October 7 has brought devastation and mass civilian casualties to Gaza
Business

Oil prices hit fresh five-month high on OPEC reduction output

Oil prices rose around one percent, with Brent crude closing in on $90 per barrel, as OPEC experts met to...
  • Gold zoomed to an all-time pinnacle at $2,288.40 per ounce in Asian trade on haven demand amid geopolitical tensions and the prospect of rate cuts.
  • Eurozone stocks advanced as a drop in inflation raised hopes of a rate cut by the European Central Bank, while Wall Street stocks rose following strong jobs data.
Business

Iran discovers giant shale oil reserves in several regions: NIOC

Tehran, Iran -- The National Iranian Oil Company (NIOC) has said that shale oil deposits have been discovered in 10...
  • The director of exploration at the NIOC, Mehdi Fakour, announced that the company's specially designed model will enable the extraction of oil from these resources.
  • Shale oil is an unconventional oil produced from oil shale rock fragments by pyrolysis, hydrogenation, or thermal dissolution.
Business

Abu Dhabi’s real estate transactions reach $4.32 billion in first quarter

Abu Dhabi, UAE -- The value of real estate transactions in Abu Dhabi reached AED 15.9 billion ($4.32 billion) during...
  • The emirate logged 2,919 sales and purchases transactions in Q1 2024 totaling over AED 9.6 billion.
  • DARI data showed that Abu Dhabi recorded about 2,208 mortgage deals during Q1, with a total value of AED 6.3 billion.
Business

Aramco awards $7.7bn contracts for Fadhili Gas Plant expansion

Dhahran, Saudi Arabia – Saudi energy giant Aramco Tuesday awarded engineering, procurement and construction (EPC) contracts worth $7.7 billion for a...
  • The project is expected to increase the plant’s processing capacity from 2.5 to up to 4 billion standard cubic feet per day (bscfd).
  • This additional 1.5 bscfd capacity is expected to contribute to the company’s strategy to raise gas production by more than 60 percent by 2030, compared to 2021 levels.
Business

UAE national carriers reach 603 global destinations by Q1

Abu Dhabi, UAE -- The UAE's national carriers have witnessed significant growth in their destination network, reaching approximately 603 destinations...
  • The 3% rise over 2022 reflects the rebounding aviation sector and caters to the rising demand for travel.
  • Etihad Airways has achieved significant growth, reaching approximately 76 destinations by the end of the first quarter of 2024.
Business

Drake & Scull to issue 2.4 billion shares

This will raise its share capital by $163 million to $944 million.
  • The subscription will open on April 25 and close on May 10. New Shares will be allocated on May 16 while share trading will resume on May 21.
  • The Mandatory Convertible Sukuk will be issued on May 31 for a period of five years and will be converted into Drake & Scull shares

World Bank lifts 2026 growth forecast, warns of softer demand

The bank expects world GDP growth of 2.6 percent this year, according to its latest global economic prospects report. The...
Economy

Company News

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Maysa Sabreen made first woman chief of Syrian central bank

Damascus, Syria -- Syrian authorities have appointed Maysa Sabreen as interim central bank governor, a bank official told AFP on Tuesday,...
Economy

Unemployment rate among Saudi nationals 7.8 percent in Q3

Riyadh, Saudi Arabia -- Unemployment rate among Saudi nationals reached 7.8 percent in the third quarter of 2024, a year-on-year...
Economy

Key healthcare digital trends to watch in 2025

From AI-powered content creation to automated feedback systems, technology is streamlining operations and improving patient care.
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Business

Cambridge study warns of perils in AI-driven ‘intention economy’

London, United Kingdom -- Conversational artificial intelligence (AI) tools may soon "covertly influence" users' decision making in a new commercial frontier...
  • The marketplace emerging for "digital signals of intent" could, in the near future, influence everything from buying movie tickets to voting for political candidates.
  • Our increasing familiarity with chatbots, digital tutors and other so-called "anthropomorphic" AI agents is helping enable this new array of "persuasive technologies".
Geostrategy

20-day-old baby Jumaa al-Batran dies from ‘severe cold’ in Gaza

Marwan al-Hamas, head of field hospitals in Gaza, confirmed the death. He said it brought to five the total number...
  • Jumaa's twin brother remains in the intensive care unit at a local hospital, the health ministry in territory said.
  • "There is no electricity. The water is cold and there is no gas, heating or food," said Yahya al-Batran, the father of the child.
Business

Egypt tests Suez Canal extension aimed at boosting vessel capacity

Cairo, Egypt -- Egypt has tested a new 10-kilometre (6.2-mile) extension to the Suez Canal as it tries to minimize the...
  • Vessels navigating the waterway have at times run aground, mostly because of strong winds and sandstorms.
  • The new extension is set to boost the canal's capacity by six to eight vessels a day, Rabie said, and it will open after new navigational maps are issued.