GCC asset management reaches $2.7 trillion as retail growth outpaces institutions
Boston Consulting Group says regional asset managers must strengthen distribution capabilities and technology adoption as industry competition intensifies globally.
Business
US and Iran trade strikes again, threatening fragile ceasefire
US Central Command said American fighter jets struck 10 Iranian military sites in and near the Strait of Hormuz, while...
Geostrategy
Geostrategy
Trump claims war powers law doesn’t apply as Iran hostilities ‘terminated’
US President Donald Trump has told Congress that he does not need authorisation for military action against Iran, arguing that...
- Trump argued that there had “been no exchange of fire between United States Forces and Iran since April 7,” and that hostilities “have terminated.
- Hours later, Trump appeared to contradict his position, stating: “You know we’re in a war,” adding, “Because I think you would agree we cannot let lunatics have a nuclear weapon'
Geostrategy
Khamenei signals Iran control over Strait of Hormuz, rejects US role
Iran’s supreme leader Ayatollah Mojtaba Khamenei has issued a strong statement asserting that the United States should have no role...
- The statement, released on Iran’s National Day of the Persian Gulf, also reaffirmed Iran’s determination to retain its nuclear capabilities
- “By the will and power of God, the bright future of the Persian Gulf region will be a future without America,” the statement said
Geostrategy
Pentagon puts Iran war cost at $25 Bn; Hegseth clashes with lawmakers
The Pentagon has estimated that the ongoing Iran war has cost the United States $25 billion and claimed 14 American...
- Testifying before the House Armed Services Committee, Hegseth sharply criticised lawmakers from both parties who questioned the conflict
- “The biggest challenge, the biggest adversary we face at this point are the reckless, feckless and defeatist words of congressional Democrats and some Republicans.”
Business
TECOM profit climbs
High occupancy across assets boosts earnings.
- TECOM lifted recurring profit as occupancy, rental rates and cost discipline strengthened margins.
- Commercial and industrial portfolios remained nearly full, supporting resilient cash flow and customer retention.
Business
Emirates Stallions Q1 revenue up 11%
The rise helped by strong demand in real estate
- Rotana Residences sold out before launch, underscoring strong demand for branded Abu Dhabi housing.
- Operating profit before tax jumped 32% to 79 million dirhams, reflecting efficiency gains across the group's core businesses.
Geostrategy
Gas prices surge as Iran tensions roil energy markets
The Wall Street Journal reported that U.S. officials said President Donald Trump had instructed aides to prepare for a sustained...
- European gas prices surged over 5% as fears mounted over prolonged disruption to Iranian exports and shipping.
- TotalEnergies delayed restarting Middle East output, while Europe moved to shield industries from spiralling energy costs.
Geostrategy
UAE quits OPEC, reshaping global oil politics
The decision marks one of the most significant ruptures in the producer group's recent history. Long viewed as one of...
- UAE Energy Minister Suhail al-Mazrouei said the decision followed a careful review of current and future energy policies.
- For years, the UAE has invested heavily in expanding its oil production capacity, seeking to raise output to around 5 million barrels per day by 2027.
Geostrategy
Next wave of global competitive advantage lies in tech combinations: WEF
Eight technology domains, including AI, robotics, engineering biology and advanced materials are no longer advancing in isolation.
- The United States alone could face a shortfall of between 10,100 and 19,900 surgeons by 2036.
- Organizations are urged to assess where bottlenecks sit in their value chains, determine which technology combinations could shift those constraints.
Geostrategy
Trump claims Iran in ‘state of collapse’, says Tehran wants blockade lifted
US President Donald Trump has claimed that Iran is in a “state of collapse” and said Tehran has approached Washington...
- Speaking amid escalating tensions, Trump said Iran wanted the restrictions removed “as soon as possible”.
- The remarks come as Washington continues its maximum pressure campaign against Tehran, targeting its economy, trade routes and oil exports
Economy
MENA faces shortfall of 111,737 construction Project Managers by 2035: PMI
The PMI report finds that MENA will require up to 330,794 construction project management professionals by 2035 under a high-growth...
- Even under a low-growth scenario, the region would still face a shortfall of more than 88,561 professionals.
- Retirement-driven attrition will widen the gap further, compounding pressure on an already strained talent market.
Most Read
Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
GCC asset management reaches $2.7 trillion as retail growth outpaces institutions
Boston Consulting Group says regional asset managers must strengthen distribution capabilities and technology adoption as industry competition intensifies globally.
Business
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Middle East conflict exposes hydrogen supply risks: IEA
Dubai, UAE -- The conflict in the Middle East has disrupted production and trade in hydrogen-based products, exposing vulnerabilities in...
Geostrategy
US, Iran technical negotiations face delay after Vance postpones Switzerland visit
"The logistics of these negotiations have never been simple or predictable. As of now the Vice President is not departing...
Geostrategy
Saudi Arabia rises to 13th in global competitiveness rankings
The Kingdom ranked 13th out of 70 economies assessed in the annual report, improving from 17th place a year earlier...
Economy
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Business
Abu Dhabi climbs global startup rankings on AI and tech growth
The emirate was ranked in the #41-50 category globally, improving from the #51-60 range a year earlier and marking one...
- The report highlighted the role of Hub71 in supporting founders and technology companies as Abu Dhabi seeks to strengthen its position as a global innovation hub.
- The report, unveiled at the VivaTech conference in Paris, analyzed data from more than 5.5 million companies across over 350 entrepreneurial ecosystems worldwide.
Geostrategy
US-Iran framework centers on investment fund, sanctions waiver and nuclear talks
At the center of the memorandum of understanding is a proposed $300 billion private investment vehicle, known as the Reconstruction...
- Reuters reports a private $300 billion investment vehicle would activate only after a final settlement is reached.
- Trump says sanctions relief is not immediate and warns military action could resume if negotiations fail.
Business
Gold extends winning streak as oil and dollar weaken
The U.S. Dollar Index fell to 99.53, giving back part of the gains it had recently recorded on safe-haven demand....
- Other precious metals also moved higher. Spot silver gained 0.3% to $70.38 an ounce, platinum rose 0.5% to $1,812.80, and palladium added 0.3% to $1,355.65.
- Brent crude futures fell 16 cents, or 0.2%, to $78.80 a barrel by 0340 GMT, while U.S. West Texas Intermediate crude slipped 25 cents, or 0.3%, to $75.80 a barrel.