Dubai property market rises 31% to $68 billion in first quarter
Dubai, UAE -- Dubai’s real estate transactions rose 31 percent year-on-year to 252 billion dirhams ($68.6 billion) in the first...
Business
National Bonds reports record 2025 results as funds exceed $4.9 billion
National Bonds said it posted its strongest annual performance in two decades, with bondholders’ funds surpassing $4.9 billion in 2025.The...
Business
Dubai real estate sets all-time record in 2024
Dubai’s real estate market has had a record-breaking year, with new milestones being set throughout 2024, culminated in an all-time...
- First sales from developers climbed by 30 percent year-on-year to US$91 billion
- The year marked a 42 percent year-on-year increase in the volume of apartment sales
Business
Kamco Invest launches two funds
Kamco's assets under management surpass SAR 1bn.
- The new Shariah-compliant funds are named Kamco Freestyle Saudi Equity Fund and Kamco SAR Murabaha Fund.
- The company said in a statement that the launch of the two funds brings the total number of public funds managed by Kamco Invest in the Kingdom to three.
Business
Saudi tourism sector employee number rises by 5.1 percent in second quarter
Riyadh, Saudi Arabia – The number of employees in tourism-related activities in Saudi Arabia increased by 5.1 percent in the...
- GASTAT's Tourism Establishments Statistics bulletin for the second quarter of 2024 said that of these employees, Saudi nationals accounted for 25.6 percent (245,905 employees.
- Male employees dominated the sector, representing 86.6 percent of the workforce (831,076 employees), with women comprising 13.4 percent (128,099 employees).
Geostrategy
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...
- The GFC network, representing 80 countries and diverse sectors and disciplines, is uniquely positioned to break down silos and foster cross-sector dialogue.
- Key themes of the meeting programme will include inclusive growth, climate action and the energy transition, and rebuilding trust for global collaboration
Economy
Asia-Pacific markets mixed after Powell signals smaller rate cuts
Asia-Pacific markets are mixed on Tuesday, after Federal Reserve Chair Jerome Powell indicated the recent outsized cuts enacted by the...
- The current federal funds rate stands at 4.75%-5%
- Sentiment among large non-manufacturers in Japan improved, inching up to +34 from +33 in Q2
Economy
China launches late stimulus push to meet 2024 growth target
China's central bank on Friday lowered interest rates and injected liquidity into the banking system as Beijing assembled a last-ditch...
- hina plans to issue special sovereign bonds worth about $284.43 billion this year
- A wide range of economic data in recent months has missed forecasts
Economy
What a Fed rate cut could mean for the world
The U.S. Federal Reserve is on Wednesday heading for its first interest rate cut since the onset of the COVID-19...
- Global markets brace for the first rate cut by the Federal Reserve this week
- High level of uncertainty around whether it will cut by 25 basis points or 50
Economy
Stocks firm, dollar subdued as market flirts with outsized Fed cut
Asian stocks dithered and the dollar slipped on Monday in a week that is almost certain to see the start...
- Futures imply 59% chance of outsized Fed rate cut
- Policy makers project 100 basis points of cuts this year and 150 basis points for 2025
Business
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...
- The high return rate is a proof that visitors are happy with what we offer them, said Issam Kazim, CEO of DCTCM.
- He added that the use of artificial intelligence can remove daily routine tasks and allow individuals to focus on the most important work.
Economy
ECB set to cut interest rates before the Fed’s big decision next week
The European Central Bank on Thursday is set to slash rates again by 25 basis points just days ahead of...
- In July, the ECB left interest rates unchanged in a unanimous vote following June’s landmark cut
- Headline inflation in the EURO hit a three-year low in August with a reading of 2.2%
Dubai property market rises 31% to $68 billion in first quarter
Dubai, UAE -- Dubai’s real estate transactions rose 31 percent year-on-year to 252 billion dirhams ($68.6 billion) in the first...
Business
Company News
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Alujain widens 2025 loss
Business
Masar 2025 net profit $262m
Business
Tasnee’s 2025 losses deepen
Business
GCC energy sector strengthens global role despite lower oil output
Gulf Cooperation Council (GCC) countries continue to strengthen their position in global energy markets, supported by extensive natural resources, advanced...
Geostrategy
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Business
Aramco 2025 net profit $104bn, to pay $85.4 bn in dividends
Dubai, UAE -- Saudi Arabian Oil Co. (Aramco) reported a net profit of $104.7 billion for 2025, a decline from...
- Earlier in the year, Aramco’s board declared quarterly dividends, including a base dividend of around $21.1 billion for the second quarter of 2025.
- Aramco’s dividend policy combines a base dividend with a performance-linked component tied to financial results and cash flow.
Geostrategy
Strait of Hormuz disruption threatens trade flows: UNCTAD
UNCTAD data shows Brent crude oil prices rose above $90 per barrel, while natural gas prices also increased sharply after...
- Based on shipping flows during the week preceding the military escalation that began on February 28, crude oil accounted for about 38% of trade moving through the strait.
- Liquefied petroleum gas represented 29%, while liquefied natural gas and refined oil products each accounted for around 19%.
Geostrategy
Saudi, Qatar airlines adjust flights as regional tensions disrupt travel
Dubai, UAE -- Airlines has extended the suspension of flights to several Gulf destinations as regional tensions continue to affect...
- Saudi Airlines extends flight suspensions to several Gulf destinations while monitoring developments and evaluating gradual service resumption.
- Qatar Airways launches limited schedule from Doha to reconnect passengers following temporary authorization from civil aviation authorities.