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

AI toys look for bright side after troubled start

Las Vegas, United States -- Toy makers at the Consumer Electronics Show were adamant about being careful to ensure that...

Business

Deja vu? Trump accused of economic denial and physical decline

Washington, United States -- An aging president faces poor poll numbers and suspicions about his health but insists that America...

Economy
Arts & Culture

UAE backs women in climate action, gender equality

“Today’s frameworks to advance gender equality and women’s empowerment ring hollow in the face of the war on Gaza, which...
  • UAE Minister of State Noura Al Kaabi emphasizes the importance of enhancing national systems to promote gender equality.
  • The UAE ranks among the top 10 countries for gender equality, showcasing significant progress on the Gender Inequality Index.
Business

UAE launches digital public consultation on tax implementation

Abu Dhabi, UAE -- UAE's Ministry of Finance (MoF) Friday launched digital public consultation to gather feedback from relevant stakeholders...
  • The consultation will be open from 15th March 2024 to 10th April 2024, and accessible via the Ministry’s website or the UAE’s Government Portal.
  • To familiarize stakeholders with the rules and to ensure informed feedback is received, the Ministry has issued a Global Minimum Tax briefing document alongside the consultation.
Geostrategy

First aid boat unloads in Gaza as Hamas proposes new truce

During the proposed truce, Gaza militants would release about 42 hostages seized during the October 7 attack that triggered the...
  • Spanish vessel Open Arms meanwhile was seen towing a barge loaded with 200 tons of food for Gazans threatened with famine after more than five months of war.
  • The United Nations has repeatedly warned of looming famine, with only a fraction of the supplies needed to sustain Gaza's 2.4 million people being let in.
Business

Non-oil trade between UAE and US hits $31.4 billion in 2023

Abu Dhabi, UAE -- Non-oil trade between the UAE and the United States reached $31.4 billion in 2023 and is...
  • Danny E. Sebright, President of the US-UAE Business Council, said that US exports to the UAE reached $24.8 billion last year, exceeding 2022 exports of $20.8 billion by 19 percent.
  • He highlighted that US exports to the UAE support 125,000 jobs in the US, while UAE exports to the US totaled $6.6 billion last year.
Business

Eyes on Bank of Japan as unions announce big wage hikes

Tokyo, Japan -- Japan's largest trade union said Friday it had secured the highest wage hikes since 1991 in preliminary data...
  • The Rengo union said that in spring wage talks so far, its members had secured pay rises of nearly 5.3% on average, compared with 3.8% at this point last year.
  • Wage growth has been sluggish in Japan for decades, and the government partly blames this for the economy's woes.
Geostrategy

UAE rises to seventh rank globally in UN gender balance index

Dubai, UAE -- The UAE advanced to the seventh rank globally in the Gender Inequality Index 2024, issued by the...
  • The UAE rose from its 49th place in 2015 and 11th place in 2022 from Gender Inequality Index 2024 by the UNDP.
  • The UNDP announced UAE's achievement during the meetings of the 68th session of the Commission on the Status of Women, being held until 22 March in New York.
Geostrategy

UN probe: ‘No exchange of fire’ before Israel shelled media in Lebanon

Two Israeli shells hit the group in quick succession as they were working near the border village of Alma al-Shaab...
  • UNIFIL's investigation found that as there was no exchange of fire at the time of the incident, "the reason for the strikes on the journalists is not known".
  • An AFP probe into the attack, jointly conducted with Airwars, an NGO that probes attacks on civilians in conflict situations, pointed to a tank shell only used by Israeli army.
Science

SpaceX mega rocket lost in final phase of third test flight

The sleek mega rocket is vital to NASA's plans for landing astronauts on the Moon later this decade -- and...
  • Starship's third launch test in its fully stacked configuration was its most ambitious yet and the company said it was able to meet many of its objectives.
  • These included opening and closing Starship's payload door to test its ability to deliver satellites and other cargo into space.
Business

Gulf Cooperation Council’s first UAE Bond ETF launched by Lunate Capital

Abu Dhabi, UAE -- The launch of Gulf Cooperation Council's first UAE bond Exchange Traded Fund (ETF), which will list...
  • The Chimera JP Morgan UAE Bond UCITS ETF will track the performance of the JP Morgan MECI UAE Investment Grade Custom Index.
  • The ETF will hold Investment Grade sovereign, quasi-sovereign and corporate bond issues with at least $500 million in face amount outstanding.
Business

Majid Al Futtaim net profit is $735m

The Group reported a 12% increase in EBITDA to $1.25 billion.
  • MAF – Properties recorded a 20 percent YoY increase in revenue to AED 6.9 billion and 21 percent increase in EBITDA to AED 3.6 billion.
  • The Group's net debt increased to AED 15 billion, primarily due to investments in working capital.

AI toys look for bright side after troubled start

Las Vegas, United States -- Toy makers at the Consumer Electronics Show were adamant about being careful to ensure that...
Business

Company News

Latest News

UAE says will not arm Sudan paramilitary RSF: White House

Washington, United States -- The United Arab Emirates has informed the United States that it will not arm paramilitaries in Sudan's...
Geostrategy

Biden cancels $4.28 bn more in student debt before leaving office

Washington, United States -- US President Joe Biden said Friday he was canceling student loans for an additional 55,000 Americans, which...
Geostrategy

Honda and Nissan in merger talks as electric vehicle competition intensifies

Tokyo, Japan --Japanese auto giant Honda and its struggling rival Nissan will reportedly begin talks on a merger to boost their...
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Business

Turkey’s Pegasus Airlines says to buy 200 Boeing 737 aircraft

Istanbul, Turkey -- Turkey's Pegasus Airlines said Thursday it would buy 200 Boeing 737 MAX 10 aircraft in its largest-ever order...
  • "The first 100 aircraft, for which we have placed firm orders, will begin joining our fleet starting in 2028," said Pegasus CEO Guliz Ozturk.
  • Established in 1990, Pegasus Airlines operates 109 international routes to 53 countries as well as flying to 35 destinations within Turkey, its website says.
Business

Saudi tourism sector employee number rises by 5.1 percent in second quarter

Riyadh, Saudi Arabia – The number of employees in tourism-related activities in Saudi Arabia increased by 5.1 percent in the...
  • GASTAT's Tourism Establishments Statistics bulletin for the second quarter of 2024 said that of these employees, Saudi nationals accounted for 25.6 percent (245,905 employees.
  • Male employees dominated the sector, representing 86.6 percent of the workforce (831,076 employees), with women comprising 13.4 percent (128,099 employees).
Geostrategy

Coal use at record high in 2024, the world’s hottest year: IEA

Paris, France -- World coal use is set to reach an all-time high in 2024, the International Energy Agency said Wednesday,...
  • China drives global coal demand to new heights, consuming 4.9B tons in 2024—over 30% more than the rest of the world.
  • The IEA's "Coal 2024" report predicts the world will hit peak coal in 2027 after topping 8.77 billion tons this year.