INSEAD Day 4 - 728x90

C1

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.
  • Some wealthy Asian investors are considering moving assets out of Dubai following Iranian missile and drone attacks on the city, raising concerns about the Gulf’s reputation as a stable financial hub, according to a report by Reuters. The report said that shortly after the attacks last week, two Indian entrepreneurs...
  • A man checks the destruction at a factory targeted in an overnight Israeli airstrike in the town of Chouaifet south of Beirut on September 28, 2024. (AFP)

    Death of Hassan Nasrallah in Beirut an inflection point in the Middle East conflict

    Rarely seen in public, Nasrallah enjoyed cult status among his supporters and was the only man in Lebanon with the power to wage war or make peace.
  • Biden ready to ‘adjust’ US forces in Mideast amid tensions: White House

    Washington, United States - President Joe Biden ordered US forces in the Middle East to be adjusted "as necessary," the White House said Friday, after Israel launched a wave of strikes on Lebanon's capital Beirut targeting Hezbollah's headquarters. "He has directed the Pentagon to assess and adjust as necessary US force...
  • European Union foreign policy chief Josep Borell speaks during a debate at the European Parliament in this file photo. (AFP)

    Helpless! Top EU diplomat regrets failure to ‘stop’ Netanyahu

    EU foreign affairs chief Josep Borrell voiced regret Friday that no power, including the United States, can "stop" Israeli Prime Minister Benjamin Netanyahu, saying he appears determined to crush militants in Gaza and Lebanon.
  • Israeli air strikes hit densely populated Hezbollah bastion in Beirut

    The strikes were by far the largest in scale. Iran embassy in Lebanon warns that the strikes 'change the rules of the game'.
  • US offers $20 mn for info on Iranian behind Bolton assassination plot

    Washington, United States- The US State Department announced a $20 million reward on Thursday for information leading to the arrest of the alleged Iranian mastermind behind a plot to assassinate former White House official John Bolton. US officials said in August 2022 that they had uncovered a plot by Shahram Poursafi,...
  • World’s first CO2 storage service soon ready in Norway

    Øygarden, Norway -- Norway inaugurated Thursday the gateway to a massive undersea vault for carbon dioxide, a crucial step before opening what its operator calls the first commercial service offering CO2 transport and storage. The Northern Lights project plans to take CO2 emissions captured at factory smokestacks in Europe and inject...
  • UAE captures 30% of Middle East cinema market share in 8 months

    Abu Dhabi, UAE -- The UAE cinema sector achieved revenues of AED 517 million during the first eight months of this year, attracting about 11 million visits to cinemas, the Emirates Media Council revealed. Mohammed Saeed Al Shehhi, Secretary General of the Emirates Media Council, said that the UAE accounts...
  • UAE airports see 14.2% passenger traffic surge in H1

    Abu Dhabi, UAE -UAE's airports experienced a 14.2 percent increase in passenger traffic, in the first half of 2024, handling over 71.7 million travelers compared to 62.8 million in the same period last year, latest data issued by the Central Bank of the UAE (CBUAE) showed. “Passenger traffic at the...
  • OpenAI chief technology officer Mira Murati leaving company

    San Francisco, United States - OpenAI chief technology officer Mira Murati on Wednesday said she is leaving the company behind ChatGPT, adding to a growing list of high-level departures. Murati called her more than six years at the San Francisco-based company "an extraordinary privilege" and described her decision to leave as...
  • 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 to SAR21.3 billion during July 2023, an increase of SAR4.1 billion, or 19.2 percent, according to the kingdom's General Authority for Statistics (GASTAT). The value of merchandise exports increased during...
  • 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 and environmental taxes to combat soaring debt in many countries. In its twice-yearly economic outlook report titled "Turning the Corner", the Paris-based organization said global gross domestic product would expand...
  • No peak oil demand ‘on the horizon’, phaseout a ‘fantasy’: OPEC

    Paris, France - OPEC said Tuesday that phasing out oil was a "fantasy", as the Saudi-led cartel forecast that demand would keep growing until at least 2050, a key year in the battle against climate change. The oil cartel's prediction runs counter to the assessment of the Paris-based International Energy Agency,...
  • 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 Czech telecom operator -- after it agreed not to use foreign subsidies to distort competition in the EU. Emirates Telecommunications (e&), whose majority stakeholder is the United Arab Emirates government,...
  • US President Joe Biden

    Biden’s United States powerless as Israel pounds Lebanon

    US President Joe Biden's top priorities for the past 11 months has been to prevent the Gaza war from spiraling into an all-out regional conflict. With the unstoppable Netanyahu, the haughty has beaten the mighty - black and blue.
  • 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 closure order. A day later the Jewish state launched a murderous campaign in neighboring Lebanon, killing at least 350, including 24 children. Simultaneously, the Israeli military called on residents of...
  • Iranian President Masoud Pezeshkian speaks at an event in Tehran earlier this month. (File)

    Iran’s president calls Israel warmonger as he seeks talks with West

    Iran's President Masoud Pezeshkian has accused Israel of seeking regional war, as he attempted to cast Tehran as restrained and appealed to the West, including the United States, for talks on flashpoint issues.
  • An Arab family sit with their belongings in the back of a truck as they wait in a traffic jam in the southern Lebanese city of Sidon on September 23, 2024. The Israeli military has vowed to carry out more "extensive and precise" strikes against Lebanon. (AFP)

    Lebanon Under Attack: Israel murders 35 kids, death toll rises to 492 including 58 women

    Lebanese Health Minister Firass Abiad said the death toll in Israeli strikes Monday rose to 492, including 35 children, the bloodiest daily toll in nearly a year of cross-border clashes.
  • UN Secretary-General Antonio Guterres speaks during "Summit of the Future" on the sidelines of the UN General Assembly at the United Nations Headquarters in New York, September 22, 2024. (AFP)

    UN adopts pact to tackle volatile future for mankind

    UN members adopted a blueprint for the future Sunday to tackle the myriad wars, environmental threats, and technological challenges facing humanity that were hailed by the organization as "groundbreaking" but panned by critics as unambitious. Secretary-General Antonio Guterres billed them as "landmark agreements - a step-change towards more effective, inclusive,...
  • Saudi Arabia achieves 73 percent increase in international tourist arrivals: UN report

    The kingdom welcomed 17.5 million international tourists in the first seven months of 2024, leading G20 nations in tourism growth for the period.
  • World Bank boosts climate financing by 10 percent

    Washington, United States - The World Bank announced Thursday that it delivered a record $42.6 billion in climate change financing in the last financial year, up 10 percent from a year earlier. The development lender has looked to boost its climate financing commitment under new president Ajay Banga, who took over...
  • Global tourism nears full recovery, led by Middle East’s 26% growth in 2024

    While Europe and Americas have nearly returned to pre-pandemic levels, the Middle East's growth outpaces all other regions, UN World Tourism Organization says.
  • Elon Musk’s Starlink internet launches in war-scarred Yemen

    Dubai, United Arab Emirates -- Tech billionaire Elon Musk's satellite internet service Starlink has launched in Yemen, provoking the anger of Iran-backed Houthi rebels in the country shattered by civil war. The company -- run by the world's richest person -- announced its arrival in Yemen, one of the world's least...
  • People and first responders gather at the scene of a reported device explosion in Saida in southern Lebanon on September 18, 2024. A second wave of device explosions hit Lebanon after Tuesday's terror attack blamed on Israel. (AFP)

    Lebanon under attack. Fears of all-out war. 20 killed, 450 injured. Israel blamed and flayed.

    A second wave of device explosions killed 20 people and wounded more than 450 in Lebanon on Wednesday, officials said, stoking fears of an all-out war in the region. On Tuesday, pager explosions killed 12 and injured more than 2,800 people in Lebanon blamed on Israel.
  • UAE banks’ Q2 investments in Islamic certificates, cash bills surge to $61.81bn

    The banking sector in the country maintained strong capital adequacy, exceeding Basel 3 requirements, according to the Central Bank.
  • An ambulance rushes wounded people to the American University of Beirut Medical Center, on September 17, 2024, after explosions hit locations in several areas around Lebanon amid ongoing cross-border tensions between Israel and Hezbollah fighters. Hundreds of people were wounded when Hezbollah members' paging devices exploded simultaneously across Lebanon on September 17, in what a source close to the militant movement said was an "Israeli breach" of its communications. (AFP)

    Israel infiltration in Hezbollah supply chain likely behind pager explosions; 9 dead, 2,800 injured

    Lebanon's health minister said nine people were killed and some 2,800 wounded Tuesday when pagers used by Hezbollah members exploded across the country. The blasts "killed nine people, including a girl", minister Firass Abiad said in a casualty update.
  • Middle East renewable energy projects investments reach $75bn

    London, UK -- The Middle East is moving towards investing $75.63 billion in renewable energy projects until 2030, according to a new report. The report, released today by the Energy Industry Council, showed that these investments include 116 renewable energy projects, which are expected to be operational between 2025 and...
  • A demonstrator wearing a mask representing Israel's Prime Minister Benjamin Netanyahu lifts a placard during a recent anti-government protest by Israeli activists in Tel Aviv. (AFP)

    Israel faces risks of global isolation and losing UN membership over Gaza genocide, say UN experts

    Experts from the United Nations have warned that Israel might become a pariah state, and its UN membership is under question as Tel Aviv continues to commit genocide in Gaza killing more than 40,000 people since October 7, 2023. Experts also reprimanded the Western countries for double standards on Netanyahu’s...
  • Europe’s Electric Vehicle troubles bubble up at Brussels Audi factory

    Brussels, Belgium -- Outside an Audi factory in Brussels described by the German carmaker as the "cradle" of its electric drive, around 200 picketing workers huddled around a bonfire in the morning drizzle. The firm is considering closing the plant, a move that analysts say is symptomatic of the troubles afflicting...
  • Yemeni rebel missile hits central Israel in rare attack

    Jerusalem, Undefined - A missile launched by Yemen's Hamas-aligned Houthi rebels hit central Israel on Sunday, a rare incident which caused no casualties but added to regional tensions nearly a year into the Gaza war. Prime Minister Benjamin Netanyahu said the Iran-backed Houthis will pay a "heavy price" for the attack,...
  • GACA and Volar to build UAE’s first Green Aviation Technology Center

    Montreal, Canada -- The General Civil Aviation Authority (GACA) and Volar Air Mobility have signed a Memorandum of Understanding (MoU) to develop the UAE's first Green Aviation Technology Hub, marking an important step in the country's efforts towards environmental sustainability and aviation innovation. "The signing of the MoU took place...
  • Standard & Poor’s affirms Saudi Arabia’s ‘A/A-1’ credit rating

    Riyadh, Saudi Arabia – Standard & Poor's (S&P) affirmed the Kingdom's credit rating in local and foreign currency at "A/A-1" with an improvement in outlook from "stable" to "positive," according to its recently issued report. In its report, S&P explained that its affirmation of the Kingdom's strong credit rating results...
  • Aramco Digital, Groq to build world’s largest AI inferencing data center

    Riyadh, Saudi Arabia -- Aramco Digital Company and Groq, a leader in artificial-intelligence (AI) inference, have announced their partnership to establish the world's largest inferencing data center in Saudi Arabia. The announcement was made on the sidelines of the Global AI Summit (GAIN Summit), which concluded in Riyadh on Thursday....
  • Microsoft cutting more jobs from its gaming unit amid industry layoffs

    San Francisco, United States- Microsoft is cutting about 650 more positions from its gaming unit as it continues to tighten its belt following the blockbuster buyout of "Call of Duty" maker Activision Blizzard. The elimination of mostly corporate and support roles across Microsoft Gaming is intended to "organize our business for...
  • Dubai tourism shines: 25 percent repeat visitors, rising AI use

    Dubai, UAE -- Dubai Corporation for Tourism and Commerce Marketing (DCTCM) has confirmed that 25 percent of visitors to Dubai are repeat visitors, reflecting their satisfaction with the experience the city has to offer. Speaking at a keynote session on the second day of the Dubai AI and Web 3...
  • UAE banking sector assets exceed $1.16 trillion by the end of June

    Abu Dhabi, UAE -- The Central Bank of the UAE (CBUAE) revealed that total banking assets, including bank acceptance certificates, rose to AED 4.31 trillion ($1.16 trillion) at the end of June, a month-on-month increase of 0.5 percent, compared to AED 4.28 trillion in May 2024. In a report entitled "Monetary...
  • Apple unveils new iPhone built for AI, looks to boost sales

    Cupertino, United States - Apple on Monday unveiled new iPhones built for generative artificial intelligence as it seeks to boost sales and show it is keeping up in the technology race. The tech giant has a lot riding on the new iPhone 16 and hopes that customers are enticed to buy...
  • First step for Europe’s hyperloop vehicles with test launch

    Veendam, Netherlands -- The dream of hurtling between European cities at speeds of more than 700 kilometers per hour moved a step closer Monday with the first successful vehicle tests at the European Hyperloop Centre. Hovering inside a sleek 420-meter (1,377-foot) white tunnel, a dark and light grey striped pod levitates...
  • Iran’s president to visit Iraq on first foreign trip, sign MoU on security

    Tehran, Iran -- Iran's President Masoud Pezeshkian will visit neighboring Iraq on Wednesday, state media reported Sunday, in what will be his first trip abroad since he took office in July. Pezeshkian will head a high-ranking Iranians delegation to Baghdad to meet senior Iraqi officials. The visit comes at the invitation...
  • Saudi surpasses Vision 2030 tourism target, says IMF report

    Tourism is a major contributor to the Kingdom's economic diversification efforts, the IMF notes in its 2024 Article IV Consultation report. Tourism revenues reached $36 billion in 2023.
  • ‘Beautiful thing’: hijab-wearing singer looks to inspire

    Dubai, United Arab Emirates - In a Dubai recording studio, hijab-clad Ghaliaa Chaker tunes her guitar and belts out original songs as she builds a career that is turning heads for more than just her music. The 26-year-old Syrian, who was raised in the United Arab Emirates, has become a social...
  • Market capitalization of 20 UAE listed firms reaches $762 billion

    Abu Dhabi, UAE -- The market capitalization of the top 20 listed companies in the local stock markets by market capitalization reached AED 2.8 trillion ($762.44 billion) by the end of this week, while further growth is expected in line with the markets' plans to double their market capitalization to...
  • Iraqi date farmers fight drought to protect national treasure

    Janājah, Iraq - Bare feet pressed against the rough trunk of a palm tree, his back supported by a metal and fabric harness, Ali Abed begins the climb to the dates above. In Iraq, the date palm and its bounty are national icons, but they are being battered by drought. Once...
  • UAE launches national strategy to combat money laundering, terror financing

    The strategy focuses on risk-based compliance, international cooperation, effective supervision, and disrupting illicit financial activities through improved data collection, analysis, and regulation updates.
  • In the heart of Beirut, one family upholds a unique dessert tradition

    Beirut, Lebanon - At a shop nestled in a busy, crowded Beirut district, Hasan El-Makary is weighing out containers of warm, fragrant mufataka, a traditional sweet in the Lebanese capital that is rarely found in stores. "I've been in this shop for 50 years, but we started specialising in mufataka 30...
  • Biden, unions pile pressure on Netanyahu for hostage release deal

    Jerusalem -- Pressure mounted Monday on Israeli Prime Minister Benjamin Netanyahu as a major strike was held and US President Joe Biden said he was not doing enough to secure the release of Gaza hostages, following the killing of six captives. Israelis were gripped by grief and fury after the...
  • Major Qatari plant to double solar capacity by 2030: Energyminister

    Doha, Qatar -- A large new solar plant planned in Qatar will double the Gulf emirate's previously projected renewable energy capacity by 2030, Qatari Energy Minister Saad al-Kaabi announced on Sunday. The photovoltaic farm, which will be built in the Dukhan area some 80 kilometers (50 miles) west of the capital...
  • Countries where the X social network is banned and why

    Paris, France - With its ban of X, which went into effect on Saturday, Brazil joins a small club of countries to have taken similar measures against the social network, most of them run by authoritarian regimes. Beyond permanent bans, some nations have temporarily restricted access to X, formerly Twitter, which...
  • COP29 finance draft: Arab nations ask developed nations to commit $441bn

    Paris, France -- The UN has published a draft on climate financing due to be presented at the COP29 in November, laying out the conflicting positions from which the main country blocs will try to clinch the next climate deal. The document, which AFP consulted Friday, is the basis for negotiating...
  • Apple in talks to invest in OpenAI, creator of ChatGPT: report

    Washington, United States - iPhone juggernaut Apple is in talks to invest in OpenAI, the creator of ChatGPT and the biggest name in generative artificial intelligence, a news report said Thursday. According to the Wall Street Journal, the company founded by Steve Jobs is at the funding table as OpenAI raises...
  • Telegram boss Durov free but charged and held in France

    Paris, France -- Telegram chief Pavel Durov was spending Thursday out on bail after four days of detention in France, banned from leaving the country as he faces a possible trial related to illegal content carried on his messaging app. Russian-born Durov, dressed in black and wearing dark glasses, walked briskly...