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ADNOC signs deal with PETRONAS

Under the agreement, ADNOC will supply 1m tons of LNG per year.

Aramco-Horse Powertrain deal completed

An agreement for the purchase of 10% equity stake was signed in June 2024.

Roche to buy Poseida Therapeutics

The $1.5 billion deal is due to close in early 2025.

BP announces $7bn gas project

The project aims to unlock 3 trillion cu ft of gas resources in Indonesia.

Lulu Retail Q3 profit $35m

For the nine-month period, net profit increased by 73.3%.

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...
  • The 20 listed companies accounted for 77.6 per cent or AED 2.79 trillion of the total market capitalization of the local equity markets of AED 3.59 trillion.
  • Global Holding came out on top with a market capitalization of more than AED 912.29 billion, equivalent to 25.4 percent of the capitalization of local markets.

Chinese EV company Xpeng shares up 6% post mass-market car launch

Xpeng shares rose after the Chinese electric car company launched its new mass-market Mona brand on Tuesday with prices starting...
  • Orders for the Mona M03 electric coupe exceeded 10,000 just 52 minutes after formal launch
  • Chinese automaker BYD and U.S. giant Tesla cemented their dominance in H1 2024.

Asia-Pacific markets mixed, dollar down Monday as Fed readies to acknowledge cuts

Asia-Pacific markets were mixed on Monday after a week that saw a broad rally in stocks, as investors awaited a...
  • The Bank of Korea releases rate decision Thursday, Japan and Singapore issue inflation data Friday
  • Against the yen, the greenback fell more than 0.8% to 146.37

US Department of State issues favorable 2024 Bahrain Investment Climate Statement

The investment climate in the Kingdom of Bahrain is positive and relatively stable. Bahrain maintains a business-friendly environment and a...
  • Oil and gas sector now makes up less than 20 percent of Bahrain’s GDP
  • Bahrain’s total foreign direct investment (FDI) stock reached $33.8 billion in 2023

TAQA Q1 net income $571m

Net income fell $2.58bn due to one-off items recognized in 2023.
  • Net income, excluding these one-offs, increased by AED 100 million, 6.9% higher than the prior-year period.
  • TAQA’s revenues reached AED 13.7 billion, 5.3 percent higher than the prior-year period, due to the contribution from SWS Holding.

OpenAI reveals new GPT-4o model that is faster and free for all users

OpenAI on Monday launched a new AI model and desktop version of ChatGPT, along with an updated user interface, the...
  • OpenAI, backed by Microsoft, has been valued at more than $80 billion by investors
  • The new model can respond to users’ audio prompts “in as little as 232 milliseconds

Asia markets mixed as investors assess China inflation data

Asia-Pacific markets were mixed Monday as investors assessed China’s stronger-than-expected April inflation data, CNBC reported China’s consumer price index climbed...
  • China’s consumer price index climbed 0.3% year on year
  • Japan’s first-quarter GDP expected to have contracted an annualized 1.5%

Forty-day ceasefire offered to Hamas: UK foreign secretary

US Secretary of State Antony Blinken renewed US opposition to an Israeli offensive on Gaza's southernmost city of Rafah. "We...
  • British Foreign Secretary David Cameron said Hamas has also been offered the release of potentially thousands of Palestinians in return for the release of Israeli hostages
  • Speaking at the World Economic Forum (WEF) in the Saudi capital Riyadh, Palestinian President Mahmud Abbas urged the US to intervene.

Meet Middle East tourism’s power players

Tourism industry accounts for 9 percent of GCC region's GDP and it is expected to grow annually at 7.7 percent....
  • The region’s largest economy, Saudi Arabia, won encomiums for the "remarkable achievement" of receiving over 100 million tourists in 2023.
  • Motivated by this success, the Kingdom has now set a new ambitious target of welcoming 150 million tourists by 2030.

Jordan exports pharmaceutical products worth US$874m in 2023

AMMAN, JORDAN – Products of the Kingdom’s pharmaceutical industries and medical supplies sector moved over the past quarter century to...
  • Jordan’s pharmaceutical and medical supplies sector has succeeded in transforming into a global industry.
  • The pharmaceutical and medical supplies sector employ approximately 10,000 workers.

WEF Global Future Councils meet in Dubai to tackle pressing global issues

More than 500 experts are expected to attend the meeting. Amid a rapidly shifting global landscape of geopolitical tensions, climate...

Latest News

Proof of Covid-19 vaccination, PCR test needed to enter Expo Dubai

Expo 2020 visitors will need a coronavirus vaccination or a negative PCR test to enter, organisers in Dubai has said....

Asia-Pacific markets mixed, dollar down Monday as Fed readies to acknowledge cuts

Asia-Pacific markets were mixed on Monday after a week that saw a broad rally in stocks, as investors awaited a...

US Department of State issues favorable 2024 Bahrain Investment Climate Statement

The investment climate in the Kingdom of Bahrain is positive and relatively stable. Bahrain maintains a business-friendly environment and a...

TAQA Q1 net income $571m

Net income fell $2.58bn due to one-off items recognized in 2023.

Most Read

Asia markets mixed as investors assess China inflation data

Asia-Pacific markets were mixed Monday as investors assessed China’s stronger-than-expected April inflation data, CNBC reported China’s consumer price index climbed...
  • China’s consumer price index climbed 0.3% year on year
  • Japan’s first-quarter GDP expected to have contracted an annualized 1.5%

Forty-day ceasefire offered to Hamas: UK foreign secretary

US Secretary of State Antony Blinken renewed US opposition to an Israeli offensive on Gaza's southernmost city of Rafah. "We...
  • British Foreign Secretary David Cameron said Hamas has also been offered the release of potentially thousands of Palestinians in return for the release of Israeli hostages
  • Speaking at the World Economic Forum (WEF) in the Saudi capital Riyadh, Palestinian President Mahmud Abbas urged the US to intervene.

Meet Middle East tourism’s power players

Tourism industry accounts for 9 percent of GCC region's GDP and it is expected to grow annually at 7.7 percent....
  • The region’s largest economy, Saudi Arabia, won encomiums for the "remarkable achievement" of receiving over 100 million tourists in 2023.
  • Motivated by this success, the Kingdom has now set a new ambitious target of welcoming 150 million tourists by 2030.