ABU DHABI: INSEAD, a major international business school, has launched its Global EMBA (GEMBA) in Asia.
The Asia section, announced just over a year ago, exceeded the expected number of admissions by 40 percent and comprises 48 people from 20 nationalities, with experience across a wide range of industries, from banking and finance, to consulting, energy and health.
“Senior-level professionals from across the globe are seeking to enhance their leadership skills,” remarked Peter Zemsky, acting dean of INSEAD.
“Given the increasing business focus on Asia and the ever more discerning shareholders of today’s corporations, professionals are finding global executive education is a spring board to the next level of effective performance in business.”
GEMBA participants spend the majority of their modules based in Singapore over weekends, which provide senior-level executives the flexibility of minimal time off work.
This format allows candidates in the region to combine their studies with the Asian work context.
The new section includes shorter modules, less time away from the office and closer proximity to home as well as the use of weekend modules, which cover much of the core curriculum.
Participants also share elective courses with TIEMBA, INSEAD’s joint program with Tsinghua University in Beijing, giving INSEAD students valuable contact with peers working in China.
“We developed the GEMBA program for Asia based on feedback from candidates in Asia,” said Kristen Lynas, director of executive degree programs at INSEAD.
“Increasingly, managers in Asia are returning for executive level education to broaden their internal perspectives on managing their business. But they can only spare minimal time away from the office.”
The new GEMBA Asia section also provides an opportunity for global managers from elsewhere to better understand the Asian and global business environment by spending time at the INSEAD Singapore campus.
The GEMBA Asia section draws in 30 percent of total GEMBA participants, with the remaining 50 percent of students studying in the GEMBA Europe section and 20 percent in GEMBA Middle East section.
Participants come from 10 countries, made up of 20 nationalities, speaking 22 different mother tongues with 26 languages spoken — a demonstration of the diversity of the class.
The new program will operate similarly to the GEMBA programs currently being held on INSEAD’s campuses in Europe and the Middle East regarding admissions requirements, courses, faculty quality and an emphasis on participant diversity and international orientation.
The three GEMBA sections — GEMBA Asia, GEMBA Middle East, GEMBA Europe — will start in their respective regions in August for this academic year, and then come together at the Singapore campus for the second half of the program up until graduation in December next year.
Singapore-Designed EMBA Test: Applicants for this academic year have also been afforded more options with a new, locally designed INSEAD admissions exam that was introduced for the first time this year. The exam, managed by Prep Zone, a company founded by two former INSEAD alumni in Singapore, is an alternative to the GMAT.
While the GMAT is still accepted, INSEAD joins a growing roster of top business schools adopting new, more tailored modes of assessing candidates.
The exam is designed to build the pool of high-quality candidates by incorporating case studies that evaluate the strength of a candidate’s business sense, and by reducing the bias against some cultural backgrounds. The test is used for all three GEMBA sections.
As one of the world’s leading and largest graduate business schools, INSEAD brings together people, cultures and ideas from around the world to change lives and to transform organizations. A global perspective and cultural diversity are reflected in all aspects of our research and teaching.
With campuses in Europe (France), Asia (Singapore) and Abu Dhabi, INSEAD’s business education and research spans three continents. Its 141 renowned faculty members from 35 countries inspire more than 1,000 degree participants annually in its MBA, Executive MBA and PhD programs. In addition, more than 6,000 executives participate in INSEAD’s executive education programs each year.
In addition to INSEAD’s programs on its three campuses, it participates in academic partnerships with the Wharton School of the University of Pennsylvania (Philadelphia & San Francisco), the Kellogg School of Management at Northwestern University near Chicago and Johns Hopkins University/SAIS in Washington DC.
In Asia, INSEAD partners with Tsinghua University in Beijing and the Lee Kuan Yew School of Public Policy at the National University of Singapore.
INSEAD is a founding partner in the multidisciplinary Sorbonne University created in 2012, and also partners with Fundacao Dom Cabral in Brazil.
In 2009, INSEAD celebrated 50 years as a pioneer of international business education based in Europe. In 2010, INSEAD celebrated the 10th Anniversary of our Asia campus in Singapore. This year, it marks five years of activity in Abu Dhabi.
Around the world and over the decades, INSEAD continues to conduct cutting edge research and to innovate across all of its programs to provide business leaders with the knowledge and sensitivity to operate anywhere.
These core values have enabled it to become truly “The Business School for the World.”
INSEAD Asia campus meets demand for executive training
INSEAD Asia campus meets demand for executive training
Riyadh Air orders up to 50 Airbus A350 jets to expand long-haul fleet

- Deal includes 25 firm orders and purchase rights for an additional 25 aircraft
- A350-1000s will enable long-haul connections ahead of high-profile events
JEDDAH: Saudi Arabia’s Riyadh Air has signed a deal to acquire up to 50 Airbus A350-1000 aircraft as it gears up to launch operations later this year.
The agreement, signed at the 55th Paris Air Show, includes 25 firm orders and purchase rights for an additional 25 aircraft. The deal supports Riyadh Air’s plan to build a wide-body fleet capable of serving over 100 destinations globally by 2030.
Owned by the Public Investment Fund, Riyadh Air was unveiled in March 2023 by Crown Prince Mohammed bin Salman as part of Saudi Arabia’s strategy to become a global aviation hub by expanding connectivity to over 250 destinations and tripling annual passenger traffic to 330 million.
In a statement, Yasir Al-Rumayyan, PIF governor and chairman of Riyadh Air, said: “Our new national carrier is set to take to the skies in the near future, and as a fundamental element of the Kingdom of Saudi Arabia’s infrastructure, will connect our capital city to over 100 international destinations around the globe by 2030.
He added: “With its outstanding range, adding the Airbus A350-1000 to our fleet demonstrates the strategic contribution of Riyadh Air in positioning Saudi Arabia as a global aviation hub.”
The A350-1000s, with an operational range exceeding 16,000 km, will enable long-haul connections ahead of high-profile events such as Riyadh Expo 2030 and the FIFA World Cup 2034.
In April, the airline received its Air Operator Certificate from the General Authority of Civil Aviation, authorizing it to commence flight operations after meeting all regulatory, safety, and operational requirements.
“Riyadh Air is making significant progress as we move towards our first flight later this year and agreeing this deal for up to 50 Airbus A350-1000 aircraft is an important statement of intent,” said Tony Douglas, CEO of Riyadh Air.
The airline’s launch supports Saudi Arabia’s broader efforts to diversify its economy. According to the General Authority for Civil Aviation, the aviation industry generated $32.2 billion in tourism receipts and supported more than 958,000 jobs in 2023 — 241,000 in aviation and 717,000 in tourism-related sectors.
“We play an important role in the evolution of the Saudi aviation ecosystem with the aim to create 200,000 direct and indirect jobs and contribute almost $20 billion to the Kingdom’s non-oil GDP,” added Douglas.
The sector is a key pillar of the National Transport and Logistics Strategy, which aims to raise its gross domestic product contribution from 6 percent to 10 percent by 2030.
Christian Scherer, CEO of commercial aircraft at Airbus, said: “This partnership reflects our shared commitment to innovation and decarbonization whilst connecting the vibrant Kingdom of Saudi Arabia to the world!”
Closing Bell: TASI gains 135 points after positive market breadth

- Market breadth was strongly positive with 223 gainers and 23 fallers
- Trading activity remained robust with a total value of SR4.87 billion
RIYADH: Saudi Arabia’s Tadawul All Share Index closed higher on Monday, advancing 135.45 points, or 1.26 percent, to end at 10,867.04.
Market breadth was strongly positive with 223 gainers and 23 fallers. Trading activity remained robust with a total value of SR4.87 billion ($1.2 billion), supported by optimism across key sectors.
Among the top gainers, Red Sea International Co. rose 10 percent to SR36.85, while CHUBB Arabia Cooperative Insurance Co. added 9.98 percent to end at SR33.60.
National Gypsum Co. and Saudi Enaya Cooperative Insurance Co. gained 9.97 percent and 8.02 percent, respectively, closing at SR19.42 and SR9.29.
ACWA Power Co. also rose 6.94 percent to close at SR262.00.
Among the worst performers, MBC Group Co. led losses with a decline of 3.11 percent to close at SR35.80.
Dr. Sulaiman Al Habib Medical Services Group followed, shedding 2.30 percent to settle at SR255, while Gulf Union Alahlia Cooperative Insurance Co. fell 1.63 percent to SR14.52.
Middle East Specialized Cables Co. ended the session down 1.13 percent at SR30.55, and Dr. Soliman Abdel Kader Fakeeh Hospital Co. edged 0.75 percent lower to SR39.85.
On the announcement front, ASAS Makeen Real Estate Development and Investment Co. began trading on the Nomu-Parallel Market on June 16, with shares priced at SR80 each.
The company’s stock rose 14.38 percent to close at SR91.50 after it confirmed the signing of an SR240 million real estate development agreement with the National Housing Co.
The stock is subject to daily and static price fluctuation limits of plus or minus 30 percent and 10 percent, respectively.
The 42-month project includes the construction of 470 residential units in Riyadh and is expected to impact financial results in the fourth quarter following the issuance of the required license.
ASAS Makeen offered 10 percent of its SR100 million capital, or one million shares, in an initial public offering that was nearly 1,949 percent oversubscribed.
Tabuk Agricultural Development Co. closed 1.90 percent higher at SR10.18 after announcing it had received the full SR14.85 million operational financing loan from the Agricultural Development Fund.
The two-year facility is secured by a mortgage on the company’s land and investment shares.
PIF’s AviLease to acquire up to 77 Airbus jets in expansion drive

- Order marks first direct deal with Airbus as PIF-owned lessor targets global growth
- Agreement announced at Paris Air Show
RIYADH: Saudi Arabia’s Public Investment Fund-owned AviLease has signed a deal to purchase up to 77 Airbus aircraft, further expanding its next-generation, fuel-efficient fleet to meet rising global demand across passenger and cargo operations.
The agreement, announced at the Paris Air Show, includes 55 A320neo Family aircraft and 22 A350F freighters, with deliveries scheduled through 2033, according to a press release.
This marks AviLease’s first direct order with Airbus. The move aligns with the goals of the Saudi Aviation Strategy, which targets a rise in annual passenger capacity to 330 million and cargo throughput to 4.5 million tonnes by 2030, while enhancing the Kingdom’s status as a regional aviation hub.
“This dual order reinforces AviLease’s credentials as a leading lessor, and it demonstrates the broad appeal of our products among lessors and their airline customers,” said Benoit de Saint-Exupéry, executive vice president of sales for Airbus Commercial Aircraft.
Edward O’Byrne, CEO of AviLease, said: “We are proud to establish an Airbus order book, strengthening our position as a full-service, investment grade global lessor. The addition of these latest generation aircraft enhances our ability to offer modern, fuel-efficient fleet solutions to our airline partners in Saudi Arabia and around the world.”

The A350F freighters were selected following consultations with local stakeholders and will support Saudi Arabia’s expanding air cargo requirements. O’Byrne noted that AviLease has secured delivery slots in line with the Kingdom’s Vision 2030 goals.
“We thank our local partners and Airbus for the strong long-term partnership we have established and look forward to placing these aircraft across our valued customer base,” he said.
The A350F, according to Airbus, offers at least 20 percent lower fuel consumption, improved loading capabilities, and extended range.
The new order follows AviLease’s purchase of 30 Boeing 737 MAX aircraft in May—its first direct deal with a manufacturer—bringing its total new aircraft orders within two months to 107.
“In less than two months, AviLease has signed two major deals, reflecting its long-term ambition to become a top 10 global player in aircraft leasing and to strengthen its position as a national champion,” said Fahad Al-Saif, chairman of AviLease.
As of March 31, AviLease had a portfolio of 200 aircraft leased to 48 airlines around the world.
In April, the firm secured a $1.5 billion unsecured revolving credit facility to support its global expansion. The three-year facility attracted commitments from 20 international banks, including eight new lenders from Europe, Asia, and North America.
The company holds investment-grade ratings of Baa2 (stable) from Moody’s Ratings and BBB (stable) from Fitch Ratings.
OPEC sees solid 2nd-half of 2025 for world economy, trims 2026 supply

LONDON/MOSCOW: OPEC said on Monday it expected the global economy to remain resilient in the second half of this year despite concerns about trade conflicts and trimmed its forecast for growth in oil supply from producers outside the wider OPEC+ group in 2026.
In a monthly report, the Organization of the Petroleum Exporting Countries left its forecasts for global oil demand growth unchanged in 2025 and 2026, after reductions in April, saying the economic outlook was robust despite trade concerns.
“The global economy has outperformed expectations so far in the first half of 2025,” OPEC said in the report.
“This strong base from the first half of 2025 is anticipated to provide support and sufficient momentum into a sound second half of 2025. However, the growth trend is expected to moderate slightly on a quarterly basis.”
OPEC also said supply from countries outside the Declaration of Cooperation — the formal name for OPEC+ — will rise by about 730,000 barrels per day in 2026, down 70,000 bpd from last month’s forecast.
Lower supply growth from outside OPEC+, which groups the Organization of the Petroleum Exporting Countries plus Russia and other allies, would make it easier for the wider group to balance the market. Rapid growth from US shale and from other countries has weighed on prices in recent years. (
PIF earns perfect score on Global SWF Index

- Saudi fund led the group within EMEA
- It was the only Middle Eastern institution to reach a perfect score
RIYADH: Saudi Arabia’s Public Investment Fund earned a perfect score in the 2025 Global SWF Index, ranking it among just nine sovereign wealth funds worldwide for top governance, sustainability, and resilience.
The report from the sovereign investor benchmarking firm evaluates 200 of the world’s largest state-owned investment institutions across 25 indicators.
PIF’s flawless score this year marks a major milestone in its institutional development, following steady progress from 92 percent in 2023 to 96 percent in 2024. In contrast, the Saudi fund scored just 28 percent in 2020, according to Global SWF data.
In 2025, only nine sovereign investors globally achieved a full 100 percent score. Of those, three were based in the Europe–Middle East–Africa region: PIF, Ireland’s National Treasury Management Agency, and Nigeria’s Sovereign Investment Authority.
The Saudi fund led the group within EMEA and was the only Middle Eastern institution to reach a perfect score.

The 2024 report described PIF as “continuing to lead the charge,” highlighting that the fund voluntarily publishes an allocation and impact report as well as a self-assessment aligned with the Santiago Principles, despite not being a member of the International Forum of Sovereign Wealth Funds.
PIF’s sustainability strategy operates within the Kingdom’s broader drive for spending efficiency, a theme highlighted in a March analysis by PwC and Consultancy ME.
The report noted that public funds, anchored by institutions like PIF, are now being redirected toward high-impact sectors such as healthcare, tourism, and logistics, as well as artificial intelligence, combining fiscal prudence with strategic vision.
Moreover, a Strategy& whitepaper outlined how the nation is investing heavily in its energy transition — targeting approximately $235 billion toward renewables by 2030 and embedding efficiency mandates for state utilities — to support its net-zero ambitions and long-term economic resilience.
This alignment of sustainable investment and cost discipline reinforces PIF’s role in delivering value-driven transformation in line with Vision 2030.
The fund’s elevation to the top tier was driven by enhanced climate-risk disclosures, the launch of a dedicated sustainability report, strengthened board oversight, and the implementation of comprehensive business continuity frameworks.
These changes helped it secure full marks in all 25 areas of the GSR Scoreboard — 10 for governance, 10 for sustainability, and 5 for resilience.
With over $925 billion in assets under management, PIF is a cornerstone of Saudi Arabia’s Vision 2030, investing across strategic sectors, including tourism and logistics, as well as AI and renewable energy. Its strong transparency credentials and environmental, social and governance alignment have helped it build trust with global partners and signal its readiness for large-scale cross-border investment.
According to the 2024 PIF Effect report, the fund’s strategic projects, ranging from green bond issuances to renewable energy infrastructure, have generated a significant impact throughout Saudi Arabia and the world, enhancing local job creation, technology transfer, and environmental outcomes.
A February analysis by Consultancy ME underscored how the Kingdom’s broader focus on “spending efficiency is driving growth and building resilience,” with PIF playing a central role by prioritizing cost-effective, high-impact initiatives aligned with Vision 2030 objectives.
The full 2025 GSR report will be released on July 1.