Dubai, UAE – Israeli Prime Minister Benjamin Netanyahu says there’s a fresh opening to free hostages held in Gaza, backing a US-mediated proposal for a 60-day ceasefire as Israel continues its unprecedented military exchange with Iran. Meanwhile, Iran has told mediators Qatar and Oman it will not negotiate while under Israeli attack, halting nuclear talks planned in Muscat.
US President Donald Trump is due to arrive in Canada’s Kananaskis for a G7 summit where leaders are weighing a united call to de-escalate the Israel-Iran crisis.
In major energy news, Abu Dhabi’s state-owned oil company has launched an $18.7 billion takeover bid for Australia’s Santos, offering a 28% premium. Santos’s board supports the deal if terms are finalised and no better offer emerges, highlighting the UAE’s push for strategic global energy assets.
A new S&P report warns that foreign direct investment inflows into the GCC may slow in 2025 due to weaker oil prices and shifting US trade policy, despite continued interest in renewables and tourism.
Separately, UAE President Sheikh Mohamed bin Zayed and UK Prime Minister Keir Starmer spoke by phone, stressing the need to ease tensions and boost regional stability.
The UAE’s economic momentum remains strong: its GDP grew 4% in 2024 to AED1.77 trillion, driven by a 5% rise in non-oil sectors, which now make up over 75% of the economy. The country stays on track to reach its AED3 trillion GDP target by 2031.
