INSEAD Day 4 - 728x90

Belgium

2PointZero posts profit surge

Growth driven by merger consolidation.

Mashreq Q1 profit rises

Total revenue increased 10% year-on-year.

TECOM profit climbs

High occupancy across assets boosts earnings.

Emirates Stallions Q1 revenue up 11%

The rise helped by strong demand in real estate

ADNOC Distribution 2025 dividend $700m

The company had reported EBITDA of $1.17 bn in 2025.
  • Brussels, Belgium - US Secretary of State Antony Blinken said on Friday Washington wanted to see "results" showing more aid was reaching Gazans after Israel announced it would open routes into the territory. Israel announced on Friday that it would allow "temporary" aid deliveries into famine-threatened northern Gaza, hours after the...
  • Facebook and Instagram users in Europe to have greater viewing control

    One of the changes announced by Nick Clegg, Meta's president of global affairs, includes giving European users of Facebook and Instagram the option to view different types of content not based on profiling, a requirement under the EU's Digital Services Act (DSA).
  • Iran president meets diplomat freed by Belgium in prisoner swap case

    TEHRAN, IRAN - Iranian President Ebrahim Raisi has met with diplomat Assadollah Assadi, recently freed by Belgium in a high-profile prisoner swap case in May, the presidency site said on Saturday. "The claimants of human rights have shown once again that they do not adhere to any law," Raisi said in...
  • European LNG imports fall to lowest level since start of Ukraine war

    Brussels, Belgium - Europe's liquefied natural gas (LNG) imports fell to the lowest level since the start of the Russian military operations in Ukraine after a drop in prices reduced the regions appeal. LNG deliveries fell 7% in July from a year earlier to 8.6 million tons, the least since...
  • Meta to seek user permission for targeted advertisement

    European regulators in January had dismissed the previous legal basis -- "legitimate interest" -- Meta had used to justify gathering users' personal data for targeted advertising.
  • European Commission orders probe into Microsoft over Teams

    Brussels, Belgium - The European Commission on Thursday announced an antitrust probe into Microsoft bundling its Teams communication app with its popular Office suite, on concerns it could be cutting out competitors. The investigation, to see whether the US software giant is "abusing and defending its market position" through the practice,...
  • Eurozone witnesses steepest downturn in eight months in July

    The painful PMI data comes as the European Central Bank is eyeing a further rate hike this week in its quest to tame inflation.
  • Broadcom to acquire VMware after EU okays deal

    BRUSSELS, BELGIUM- The European Commission approved US chipmaker Broadcom's planned $61 billion takeover of cloud computing firm VMware on Wednesday, conditional on the company fulfilling certain commitments to ease competition concerns. The massive deal had raised concerns about competition, prompting probes by antitrust watchdogs in the European Union and Britain. The...
  • Both sides in Sudan must be made accountable, says UN official

    BRUSSELS, BELGIUM -  Sudan's warring sides must face "accountability" for the "crimes" committed in their conflict, which risks spiraling into a regional crisis, the head of UN mission in the country said on Wednesday. The fighting, which has gone on for three months, "risks morphing into an ethnicized, tribalized and ideologized...
  • EU, New Zealand ink deal to enhance trade by 30 percent in a decade

    The European Union and New Zealand signed a free trade agreement which Brussels says can lift exchanges between the two by 30 percent with a decade. The deal, agreed in June 2022 after four years of tough negotiations, is "ambitious", said European Commission President Ursula von der Leyen.
  • Meet EU ‘gatekeeper’ definition, say seven tech giants

    BRUSSELS, BELGIUM -  Seven tech giants, including Amazon and Apple, have informed the European Union they meet the threshold to come under landmark new rules to curb their market dominance, Brussels said on Tuesday. The firms - Google parent Alphabet, Amazon, Apple, TikTok owner ByteDance, Facebook umbrella Meta, Microsoft and Samsung...
  • Turkey to hold NATO talks with Sweden next Thursday

    Turkey dropped its objections to Sweden's nordic neighbour Finland joining earlier in the year and Helsinki became a NATO member in April. Sweden has been a NATO "invitee" since June 2022, but its membership bid, which must be ratified by all 31 member states, has been blocked by Turkey and...
  • Greater data access and control for users as EU modifies digital policy

    "Once the data act enters into force, it will unlock the economic and societal potential of data and technologies and contribute to an internal market for data," said Sweden's minister for public administration Erik Slottner.
  • Europe agrees tougher rules on banks to avert repeat of 2008 financial crisis

    The rules will apply from January 1, 2025, two years later than the 2023 deadline agreed under the reforms.
  • Eurozone economic growth slows sharply in June

    BRUSSELS, BELGIUM -  Eurozone economic activity worsened in June to a five-month low, hit hard by a fall in industrial production, a keenly watched survey showed on Friday. The eurozone entered a technical recession at the start of the year, according to official figures published earlier this month. But inflation remains...
  • European Union pledges $600 million for Syrians fleeing war

    Last year's donors' conference in Brussels for displaced Syrians raised pledges of $6.7 billion, and the one before that $6.4 billion. The EU overall contributed more than 70 percent of those totals.
  • Eurozone in recession after two successive quarters of shrinking GDP

    The eurozone entered into a technical recession at the start of the year, shrinking by 0.1 percent for a second consecutive quarter, figures from the EU's statistic agency showed. Eurostat revised down an earlier forecast that had predicted slight growth, after economic powerhouse Germany said last month it had fallen...
  • Twitter ‘chose confrontation’ over EU disinformation code

    The European Commission announced May 27 that Twitter had decided to leave the code of practice, to which other major online platforms such as Google, Microsoft and TikTok continue to adhere.
  • EU bicycle exports surged to US$1.1bn in 2022

    BRUSSELS, BELGIUM -  The EU exported US$1.1 billion (€1.1 billion) worth of bicycles in 2022 (both electric and non-electric, a rise of 22 percent compared with 2021), according to Eurostat, the statistical office of the European Union on the World Bicycle Day. The imports were double the exports, with US$2.6...
  • Dane, two Austrian-Iranian citizens released by Tehran arrive home

    One Dane and two Austrian-Iranian citizens released from detention by Tehran arrived in their home countries, after the latest in a series of prisoner swaps. The three Europeans had landed at Melsbroek military airport just outside Brussels. They had flown there from Muscat, the capital of Oman which helped broker...
  • Danish, two Austrian-Iranian citizens freed by Iran

    Iran released one Danish and two Austrian-Iranian citizens it had been holding after mediation by Oman, and they are being flown to Belgium, said the country's Prime Minister Alexander De Croo. This comes a week after Tehran freed a Belgian aid worker in exchange for an Iranian diplomat who was...
  • Eurozone May inflation dips to 6.1 percent post drop in energy prices

    European Central Bank vice president Luis de Guindos on Wednesday previewed the slowing eurozone inflation rate, calling it "positive" but cautioning that "I would not say that the victory is there".
  • Twitter withdraws from EU disinformation code

    Twitter has decided to leave the EU's disinformation code, a voluntary pact that groups together the major social platforms, but "its obligations remain," EU Industry Commissioner Thierry Breton tweeted. Launched in 2018, the EU's code of practice on disinformation counts nearly three dozen signatories including Meta, Google, Twitter, Microsoft and...
  • EIB lends US$3.6bn to circular economy projects

    BRUSSELS, BELGIUM - The European Investment Bank (EIB) lending to circular economy projects has consistently increased over the years, amounting to US$3.6 billion (€3.4 billion) over the past five years, with a record level of US$1.18 billion alone in 2022. The figures were released ahead of the World Circular Economy...
  • Iran, Belgium free jailed persons in prisoner swap

    Iran freed Belgian aid worker Olivier Vandecasteele after almost 15 months in custody, in a prisoner exchange for an Iranian diplomat convicted of terrorism. Belgium's Prime Minister Alexander de Croo said the 42-year-old had arrived in Oman and added: "If all goes to plan, he'll be with us this evening....
  • EU sanctions Iran Revolutionary Guards’ wing over brutal crackdown

    The European Union imposed an asset freeze on the investment arm of Iran's Revolutionary Guard, over Tehran's brutal crackdown on protests over the death of Mahsa Amini. The sanctions - the eighth imposed by the EU over the repression - came after Iran hanged three more men convicted in relation...
  • Ajman Chamber, Belgium Embassy discuss trade opportunities

    AJMAN, UAE -   Chairman of the Ajman Chamber of Commerce and Industry (ACCI) Abdullah Al Muwaiji discussed trade and investment opportunities with Ambassador of the Kingdom of Belgium to the UAE Antoine Delcourt and his delegation. The meeting, held at the Ajman Chamber's headquarters, was attended by Mohamed Ali Al...
  • Europe, UK edge closer to signing deal on financial services

    Once it is signed by Brussels and London, it will create a framework for voluntary regulatory cooperation in the area of financial services between the EU and the UK.
  • European economy expands less than previous estimates

    On Monday, the European Commission boosted its 2023 economic growth outlook for the 20-country euro area by 0.2 points to 1.1 percent.
  • EU boosts 2023 growth outlook for region

    BRUSSELS, BELGIUM -  The European Commission boosted its 2023 economic growth outlook for the eurozone on Monday but it also raised the inflation forecast for the single currency area. The EU executive's spring forecast is more optimistic than that issued late last year, despite inflation proving "stickier than expected" in its...
  • EU’s imports in high-tech products worth $524bn in 2022

    BRUSSELS, BELGIUM -  The EU imported US$524 billion (€482 billion) worth of high-tech products from extra-EU countries in 2022 (+22 percent compared with 2021), according to an estimate published by Eurostat, the statistical office of the European Union . Exports to these countries reached US$485 billion (€446 billion) (+16 percent...
  • Eurozone inflation rises to 7% in April after five months fall

    Consumer prices edged up from 6.9 percent in March, which could further encourage the European Central Bank (ECB) to raise interest rates on Thursday. Analysts for FactSet and Bloomberg had predicted the rate would remain stable. The ECB has hiked rates repeatedly since July last year to rein in inflation.
  • EU reports employment rate of 75 percent in 2022

    BRUSSELS, BELGIUM  - In the European Union countries, 75 percent (193.5 million) of people in the 20-64-year- age group were employed, the highest since the start of the time series in 2009, as per the labor force data published by Eurostat. The employment rate dropped to 72 percent in 2020...
  • UAE delegation visits Belgium to strengthen economic ties

    Abu Dhabi, UAE - A UAE delegation led by Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, visited Belgium, aiming to strengthen economic ties and promoting investment opportunities with Brussels and the wider European Union (EU). The delegation discussed growing trade relations with Vladis Dombrovskis, European Commissioner...
  • EU agrees to boost use of green aviation fuel to cut emissions

    Aviation emissions in Europe were on an upward curve of around five percent per year between 2013 and 2019, dropping off after that only because of travel curbs under the coronavirus pandemic. Those curbs are now largely lifted, and aviation traffic is bouncing back.
  • Chinese diplomat’s views on post USSR nations draw EU ire

    Brussels, Belgium - Comments made by the Chinese ambassador to France questioning the sovereignty of post-Soviet countries were "unacceptable," EU foreign policy chief Josep Borrell said Sunday. Borrell added that he hoped the comments did not reflect Beijing's official stance. "Unacceptable remarks of the Chinese ambassador to France," Borrell tweeted. "The...
  • Green groups sue Europe over false energy label

    BRUSSELS, BELGIUM - Environmental groups lodged a lawsuit against the European Commission on Tuesday to challenge its definition of natural gas as a "green" energy source. In addition, one other non-governmental organization, Greenpeace, sued the EU executive separately for deciding that nuclear energy was worthy of its sustainable investment label. The legal...
  • EU bloc records highest ever trade deficit in 2022

    BRUSSELS, BELGIUM  - The EU trade in goods registered a large deficit of US$469 billion (€432 billion) in 2022, reaching its lowest level since the start of the time series in 2002. The deficit was due, in particular, to a steep rise in the value of energy imports, which started...
  • EU parliament adopts tough rules to tackle gender pay gap

    Women earn on average nearly 13 percent less per hour than men for the same work in the 27-nation European Union, according to official data for 2020. Under the new rules, workers can demand to know individual and average pay levels, broken down by gender, in their workplace.
  • EU closer to banning fossil fuel car sales after Berlin lifts veto

    Brussels, Belgium - The 27 EU member states approved Monday a deal between Brussels and Germany that lifted Berlin's block on a planned phaseout of sales of new fossil fuel cars by 2035. A spokesman for Sweden, which holds the EU presidency, said ambassadors backed the agreement. Energy ministers are expected...
  • EU, Germany reach deal on fossil fuel car phaseout

    BRUSSELS, BELGIUM - The European Union and Germany on Saturday said they had struck a deal after a dispute over the planned phaseout by 2035 of the sale of cars using fossil fuels. A landmark deal to prohibit new sales of fossil fuel cars from 2035 is key to the bloc's...
  • European economy reaches 10 month high after surge in March

    BRUSSELS, BELGIUM - Economic growth in the eurozone accelerated in March and hit a 10-month high, according to a closely watched survey published on Friday, despite turmoil in the markets and concerns over banks. The S&P Global Flash Eurozone purchasing managers' index (PMI) showed the indicator at 54.1, up from 52.0...
  • Lebanon central bank chief summoned in European probe

    A Lebanese judge has asked central bank chief Riad Salameh to appear before visiting European investigators, a judicial official said Monday, part of a multinational probe into his personal wealth. The embattled central bank chief faces embezzlement accusations in separate investigations in Lebanon and abroad, looking into the fortune he...
  • Europe warned industry will flee unless energy prices lowered

    Brussels, Belgium - The European Union must urgently lower energy prices and ease regulations to stop industry fleeing the continent, European businesses said on Monday, as Brussels prepares plans to stimulate the green economy. The European Union is racing to make Europe more attractive for the companies that could be tempted...
  • Less than expected fall in EU inflation as food prices surge

    Brussels, Belgium - The eurozone annual inflation rate fell to 8.5 percent in February, the EU's statistics agency said Thursday, but the drop was less than expected as food costs soar. Inflation was down last month from 8.6 percent in January but analysts at financial data firm FactSet had forecast...
  • European Commission bars TikTok use by staff over data protection

    The ban also means European Commission staff cannot use the Chinese-owned video-sharing app on personal devices including phones that have official apps installed, the spokesperson said, confirming a report by news website Euractiv.
  • EU says Israel deporting MEP ‘deeply disappointing’

    The EU called it "deeply disappointing" and "surprising" that Israel stopped and deported a Spanish MEP who had arrived for an official trip to the Palestinian territories. European Parliament lawmaker Ana Miranda tweeted that the action by Israeli authorities against her was a "diplomatic affront" and showed "disrespect" to the...
  • Europe extends sanctions against Russia for six more months

    They have been routinely extended for six-month periods over the past eight years. The EU has imposed nine rounds of sanctions on Moscow since it launched a major cross-border offensive last year. Some eastern European nations had sought to extend the sanctions by one year this time.
  • EU to expand sanctions on Iran over protest crackdown

    The EU will impose new sanctions on 37 Iranian officials and organizations over the crackdown on protests, but is still debating listing the Revolutionary Guard as a "terrorist" group, diplomats said. Foreign ministers from the bloc are to agree to adopt the fourth package of sanctions on Tehran over its...
  • Record cocaine seizures in Antwerp as Belgium battles drug gangs

    The annual figure was released one day after an 11-year-old girl was shot dead in a gun attack on an Antwerp home that the city's mayor dubbed the latest outrage in an ongoing "drug war". Belgium's main container terminal is now considered the main gateway for illegal drugs into Europe,...
  • Sharjah, Belgium discuss enhancing ties

    SHARJAH,  UAE -  A Belgian delegation met with Sheikh Majid Al Qasimi, Director of the Department of Government Relations (DGR) in Sharjah. Antoine Delcourt, Ambassador of the Kingdom of Belgium to the UAE was also present on the occasion. Al Qasimi welcomed the Belgian delegation comprising Juren Seleslag, Political Affairs...