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.

Israel returns 15 bodies to Gaza after hostage remains identified

It came after Israel announced that a body handed over by Hamas on Tuesday was that of Dror Or, one...

Geostrategy

Israeli strikes kill 21 in Gaza, dozens more wounded: Civil defense

Mahmud Bassal, spokesman for the civil defense agency, Bassal said one strike hit a house in Deir el-Balah in the...

Geostrategy
Geostrategy

Macron tells Netanyahu Israeli operations in Gaza ‘must cease’

In a telephone call that saw Macron toughen his tone, the French leader expressed France's "firm opposition" to an Israeli...
  • WHO says Gaza hospitals completely overwhelmed and Israel approves fewer than half of its aid-delivery requests.
  • Spain and Ireland ask European Union to urgently examine whether Israel is complying with its human rights obligations in Gaza.
Science

Old joke: Apes also like to tease, meaning trait could be ancient

Paris, France - A boisterous young chimpanzee slaps an adult in his family on the back, then scampers away and looks...
  • The researchers catalogued a wide range of classic japery. One ape would offer another an object, only to withdraw it at the last second.
  • Much of this behavior is common in human children, starting from around eight months for the most precocious.
Business

ADNOC and bp to form gas JV

The JV is expected to be completed in the second half of 2024.
  • Under the JV, bp will contribute its interests in three development concessions, as well as exploration agreements, in Egypt.
  • ADNOC will make a proportionate cash contribution which can be used for future growth opportunities.
Business

Ford Middle East sales up 63%

Growth fueled by Ford Territory, F-150 and other models.
  • Ford Middle East said in a statement that the UAE recorded a 57 percent year-on-year increase in sales – more than double the industry’s average of 26 percent in this market.
  • It also achieved a record year of growth in Saudi Arabia, where retail figures surged by 77 percent over 2022.
Business

$1.39bn credit facility for Cenomi Centers

The Shariah-compliant facility was secured with several banks.
  • The new arrangements consist of a 12-year term sustainability-linked Murabaha facility in two tranches as well as a revolving four-year renewable Murabaha facility.
  • The arrangements will help Cenomi to support its growth plans by contributing towards existing facility repayments.
Geostrategy

Israel faces growing pressure over Gaza ceasefire as toll hits 28,473

CIA director William Burns met with Mossad chief David Barnea in Cairo for a new round of talks on a...
  • The Cairo meeting came after the United States and the United Nations warned Israel against a ground offensive into Rafah without a plan to protect civilians.
  • Other countries cautioned Israel against a Rafah ground assault, including China, Germany and Norway, while Italy said Israel's bombing in Gaza had been "disproportionate".
Business

NMDC Group net profit $585m

The Group's revenues surged 56 percent to $4.54 billion.
  • The Group's assets reached AED 20.8 billion in 2023, up from AED 16.0 billion in 2022.
  • In Q4 2023 alone, NMDC reported revenues of AED 5.7 billion and a net profit of AED 0.64 billion.
Business

US hardwood lumber shipments to MENA reach $61 million in 2023

Dubai, UAE -- American hardwood lumber (sawn timber) shipments to the Middle East and North Africa (MENA) region reached $61.14...
  • Significant increases were seen in exports of American hardwood lumber to the United Arab Emirates and Saudi Arabia last year.
  • More modest increases were seen in shipments to Morocco, Lebanon, Algeria and Iraq.
Geostrategy

OFID funds $27 billion for 4,000 projects in 125 countries

Dubai, UAE -- The OPEC Fund for International Development (OFID) has committed a US$27 billion to support 4,000 development projects...
  • The OPEC Fund for International Development, founded in 1976, is a multilateral development finance institution.
  • Its membership comprises 12 countries: the UAE, Algeria, Ecuador, Gabon, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Saudi Arabia, and Venezuela.
Geostrategy

Israeli assault on Rafah a ‘terrifying’ prospect: UN rights chief

UN human rights chief Volker Turk urged world powers to "restrain rather than enable" as fears of a looming ground incursion...
  • UN's agriculture agency, meanwhile, said the population of the Gaza Strip is suffering "unprecedented" levels of "near famine-like conditions".
  • All 2.2 million people in Gaza are in the top three hunger categories, from level three, which is considered an emergency, to level five, or catastrophe, an FAO official said.

Israel returns 15 bodies to Gaza after hostage remains identified

It came after Israel announced that a body handed over by Hamas on Tuesday was that of Dror Or, one...
Geostrategy

Company News

Latest News

OPEC+ postpones meeting amid signs of ‘discord’ on output plans

The 22-member OPEC+ group led by Saudi Arabia and Russia was due to decide on its 2025 output policy at...
Geostrategy

EVs just the start, urban mobility needs a holistic approach

Cities must adopt EVs alongside shared transport, robust infrastructure, clean energy, and inclusivity, says Jamie Wylie, an urban mobility expert.
Interview

Adani Group says it lost nearly $55 billion as US bribery charges sparked rout

The November 20 bombshell indictment in New York accused billionaire industrialist founder Gautam Adani and multiple subordinates of deliberately misleading...
Business
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

Most Read

Geostrategy

As AI gets real, slow and steady wins the race

Companies explore AI for coding, healthcare, law, and design—yet challenges like regulation, accuracy, and cost impede widespread adoption.
  • The tech industry presents a more aggressive adoption curve. Google reports that 25 percent of its coding is now handled by generative AI.
  • Athey, an economist of the tech industry, expressed worry about regions where a core profession such as call centers risked being swept away by AI.
Business

Roche to buy Poseida Therapeutics

The $1.5 billion deal is due to close in early 2025.
  • The boards of directors of both companies unanimously approved the deal for Poseida, whose shares had closed on Monday at $2.73.
  • Poseida Therapeutics' portfolio notably includes customized cell therapies for hematological cancers, solid tumors and auto-immune diseases.
Business

Saudi Arabia’s non-oil exports surge by nearly 23% in Sept 2024

Riyadh, Saudi Arabia -- Saudi Arabia's non-oil exports surged by 22.8 percent in September, according to a report by the...
  • The September 2024 International Trade Report said national non-oil exports, excluding re-exports, rose by 11.6 percent.
  • The report also indicated a 14.9 percent decline in merchandise exports in September 2024 compared to September 2023.