SoftBank raises $11.1 billion through bonds for OpenAI
SoftBank Group has issued dollar- and euro-denominated bonds worth a combined $11.1 billion as it seeks funding to support its...
Business
Trump hails productive Iran talks as Tehran says conditions conveyed to US through Qatar
Iran seeks end to the war on all fronts, a halt to “acts of aggression”, an end to the naval...
Geostrategy
Business
DIB H1 net profit $1bn
Gross revenue increased 10% year on year
- Net financing assets grew 7 percent since the start of the year to AED281 billion after the bank extended AED43 billion in new financing during the period.
- Customer deposits rose 2 percent to AED327 billion, while total assets increased to AED423 billion.
Business
Major book publishers sue Google over use of copyrighted books to train AI models
Several major book publishers and authors have sued Google, alleging the technology company illegally copied millions of copyrighted books to...
- The proposed class-action lawsuit was filed on Tuesday in a New York court by Hachette Book Group, Cengage Learning, Elsevier, author Scott Turow and his publishing company, S.C.R.
- The lawsuit also alleged that Gemini can tailor its outputs to imitate the expressive style and creative choices of specific authors.
Geostrategy
US launches fresh strikes on Iran, reimposes Hormuz blockade
Iran strikes US military assets in the Gulf and warned the Strait of Hormuz would remain closed until US military...
- Bahrain activated air raid sirens and urged residents to seek shelter, while Kuwait's military said its air defences were intercepting Iranian drones.
- Oil prices climbed for a second consecutive session as traders weighed the growing threat to energy supplies.
Business
Ajman real estate transactions reach $2.94 billion in first half
Dubai, UAE -- Real estate transactions in Ajman totalled more than 10.8 billion dirhams ($2.94 billion) in the first half...
- The department recorded 6,815 real estate transactions during the January-June period, according to the Ajman Real Estate Index.
- Trading transactions accounted for 5,435 deals worth 7.64 billion dirhams, while 969 mortgage transactions totalled more than 1.88 billion dirhams.
Business
Turkey’s exports to EU rise 4.7 percent to $55 billion in first half
Dubai, UAE -- Turkey's exports to the European Union rose 4.7 percent in the first half of 2026 to $55...
- EU-bound shipments accounted for a significant share of Turkey's total exports, which increased 3.6 percent year-on-year to $136 billion during the January-June period.
- Germany remained Turkey's largest export destination, receiving goods worth $10.1 billion, followed by Italy at $6.8 billion and Spain at $5.6 billion.
Business
SIB H1 profit up 15.3%
Total operating income rises 20.5 percent.
- Total assets rose 4.7 percent to AED94.5 billion as Islamic financing portfolio expanded and customer deposits continued growing strongly.
- Non-performing financing ratio improved to 3.6 percent while shareholders' equity increased following a AED2.6 billion capital strengthening exercise.
Business
Dubai diamond trade hits record $41.7 billion in 2025, DMCC says
Dubai, UAE -- Dubai's diamond trade rose to a record $41.7 billion in 2025, surpassing its previous high set in...
- Natural diamonds remained the dominant segment, generating $39.9 billion in trade, or 95.8 percent of the total value.
- Trade in natural polished diamonds rose nearly 25 percent year-on-year to $18.7 billion, while rough diamond volumes reached 205.2 million carats.
Geostrategy
US strikes hit Iran for third night as Tehran expands retaliation across Gulf
US Central Command (CENTCOM) said its forces completed a five-hour mission that struck military targets in Bushehr, Chah Bahar, Jask,...
- Hours earlier, Trump had told conservative radio host Hugh Hewitt that US forces would continue to strike Iran.
- The IRGC said it carried out missile and drone strikes on Bahrain, targeting what it described as weapons support warehouse.
Opinion
The value imperative: leading growth forward
Companies should act now by strengthening financial resilience, embracing AI, diversifying supply chains and remaining lean. Waiting for stability is...
- Gulf companies increasingly see business transformation as a continuous capability rather than a one-off project, strengthening long-term resilience.
- Leaders should build financial resilience, AI capabilities and diversified supply chains to sustain growth amid persistent global disruption.
Geostrategy
Dubai utility DEWA says solar park to exceed 8 GW capacity by 2030
Dubai, UAE -- Dubai's state utility DEWA said its flagship Mohammed bin Rashid Al Maktoum Solar Park will exceed 8,000...
- Mohammed bin Rashid Al Maktoum Solar Park will exceed 8,000 megawatts (MW) of generation capacity by 2030.
- The utility said it ranks first globally in 13 operational performance indicators, including electricity transmission and distribution losses of 2 percent.
SoftBank raises $11.1 billion through bonds for OpenAI
SoftBank Group has issued dollar- and euro-denominated bonds worth a combined $11.1 billion as it seeks funding to support its...
Business
Company News
Borouge okays $656m dividend
Business
Latest News
Syria processes first international card payment in 15 years
Dubai, UAE -- Syria has processed its first international card payment in more than 15 years, Mastercard and QNB Group...
Business
Dubai airport expects stronger H2 as airline capacity and demand recover
Dubai Airports CEO Paul Griffiths said the return of airline capacity was being matched by recovering demand, particularly important for...
Business
EDGE, Brazilian Army to establish cyber defense center in Brazil
Dubai, UAE -- EDGE Group and the Brazilian Army will establish a Cyber Defence Centre of Excellence in Brazil, the...
Business
Most Read
Opinion
As AI joins the workforce, who gives it authority?
The first generation of enterprise generative AI largely answered questions, summarised documents and produced content. A human usually remained responsible...
- AI agents are gaining autonomy across enterprises, making clearly defined authority, permissions and accountability essential for responsible deployment.
- Saudi Arabia’s early adoption of agentic workflows gives organisations an opportunity to shape governance models for autonomous enterprise systems.
Geostrategy
Iran says Hormuz remains closed despite transit agreement with Oman
US president Donald Trump, meanwhile, says that all mines have been cleared from the waterway's international waters and that Tehran...
- Shipping data shows traffic through the Strait of Hormuz held steady at five commodity vessels on Tuesday, well below average.
- On Monday, US Treasury Secretary Scott Bessent announced a sweeping economic pressure campaign against Iran.
Business
Gold prices hit highest levels in three months, oil falls
Oil prices fell by more than $1 a barrel on Monday as investors took profits ahead of an expected US...
- Spot gold was up 0.5 percent at $4,627.42 per ounce, as of 01:55 GMT, after hitting its highest level since 15th May earlier in the session.
- Among other metals, spot silver fell 0.3 percent to $68.76 per ounce. Platinum lost 0.5 percent to $1,868.03.