Adani, Abu Dhabi’s IRH to invest $11.5bn in Odisha aluminum project
Dubai, UAE -- Adani Enterprises and Abu Dhabi-based International Resources Holding (IRH), an IHC Group company, have agreed to establish...
Business
Trump says Iran denuclearization ‘moving along well’ as Doha talks continue
Technical negotiations continue over shipping, sanctions and ceasefire implementation as mediators work to translate the June accord into practice.
Geostrategy
Business
Nasdaq Dubai lists $500 million Arab Energy Fund sukuk
Dubai, UAE -- Nasdaq Dubai has listed a $500 million sukuk issued by The Arab Energy Fund (TAEF), adding to...
- The senior unsecured trust certificates, issued through APICORP Sukuk Limited under TAEF's Trust Certificate Issuance Programme, mature in 2031.
- The sukuk was priced at a spread of 70 basis points over the Secured Overnight Financing Rate (SOFR).
Business
SpaceX’s blockbuster IPO gives way to volatile trading as investors reassess valuation
Among the several factors that contributed to the volatility is the limited share float. Only around 4.2% of total shares...
- SpaceX shares trade around $157, above the $135 IPO price but well below the post-listing peak of about $226.
- The stock briefly became the world's fourth most valuable listed company, surpassing Amazon and Microsoft, before retreating.
Geostrategy
IAEA prepares to inspect Iran nuclear sites as US, Gulf states back Tehran accord
In Israel, Prime Minister Benjamin Netanyahu and Defence Minister Israel Katz said Israeli forces would remain indefinitely in what they...
- Wall Street Journal reported that the Pentagon is reviewing its military posture in the Middle East following recent Iranian strikes on U.S. facilities in the Gulf.
- U.S. Secretary of State Marco Rubio and Gulf Cooperation Council foreign ministers reaffirmed their backing for the U.S.-Iran agreement following a meeting on Thursday.
Business
Global equities, gold may extend gains in H2 2026 despite market risks: Standard Chartered
UAE and Middle East investors remain supported by stable oil markets, easing geopolitical risk premiums and strong liquidity, the bank...
- Bank forecasts S&P 500 reaching 7,950 and gold rising to $5,100 by mid-2027.
- Global equities have gained more than 12% this year, supported by earnings and AI optimism.
Geostrategy
Summer Davos: WEF urges scaling innovation into growth and jobs
Dubai, UAE -- Global political and business leaders called for faster adoption of emerging technologies and closer international cooperation to...
- More than 1,800 leaders from over 90 countries attended the World Economic Forum gathering in Dalian.
- Discussions centred on AI adoption, industrial transformation and translating innovation into measurable economic outcomes.
Business
Saudi launches one-stop platform for summer travel offers and experiences
Dubai, UAE -- Saudi Arabia's tourism authority has launched a digital platform bringing together travel offers and tourism packages from...
- Platform combines accommodation, flights, events and entertainment offers.
- Packages available for Riyadh, Jeddah, Asir, Red Sea, Taif and Al-Baha.
Geostrategy
Marco Rubio : ‘We’re going to be completely aligned with our partners in the Gulf’
He said that technical talks between the United States and Iran are expected to resume in Switzerland on June 29...
- Oil markets have responded positively to the easing tensions, with Brent crude falling below $75 a barrel this week.
- Natural gas demand will start returning during the third quarter, Gas Exporting Countries Forum Secretary General Philip Mshelbila said.
Business
Saudi tourist spending rises to $22 billion in Q1 despite drop in foreign arrivals
Domestic travel helped sustain Saudi Arabia's tourism sector in the first quarter, with total visitor numbers rising to 37.2 million...
- International visitors generated SAR48 billion, nearly 60% of total tourism spending despite representing just one-fifth of travelers.
- More than 105,000 hotel rooms are scheduled for delivery by 2030 as Saudi Arabia expands tourism infrastructure.
Geostrategy
Oman opens temporary Hormuz shipping corridor as efforts intensify to restore maritime traffic
Muscat said the measure was intended to safeguard freedom of navigation in accordance with international maritime law and without imposing...
- IMO says more than 11,000 seafarers stranded in Gulf region will be evacuated under phased operation.
- Iran rejects U.S. claims it agreed to renewed IAEA inspections at nuclear facilities damaged during war.
Geostrategy
UN inquiry says Israeli targeting of Palestinian children points to ‘genocidal intent’ in Gaza
The findings were published by the UN Independent International Commission of Inquiry, which said it had found evidence that Palestinian...
- The inquiry, established by the UN Human Rights Council in 2021, said at least 20,179 children had been killed and more than 44,000 injured in Gaza.
- The report also cited widespread trauma, displacement, starvation, family separation and the collapse of education and healthcare systems.
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
Adani, Abu Dhabi’s IRH to invest $11.5bn in Odisha aluminum project
Dubai, UAE -- Adani Enterprises and Abu Dhabi-based International Resources Holding (IRH), an IHC Group company, have agreed to establish...
Business
Company News
Latest News
OpenAI limits release of new model after US government request
Dubai, UAE -- ChatGPT developer OpenAI is restricting access to its latest artificial intelligence (AI) model at the request of...
Business
Sharjah Chamber registers 30,000 memberships in H1
Dubai, UAE -- The Sharjah Chamber of Commerce and Industry (SCCI) reported an impressive surge in registered memberships in the...
Business
Saudi Arabia mandates tougher money laundering risk assessments
Dubai, UAE -- Saudi Arabia has updated the executive regulations of its Anti-Money Laundering Law, introducing stricter disclosure requirements for...
Business
Most Read
Geostrategy
Iran claims retaliation against US as Hezbollah protests Israel-Lebanon agreement
Tehran warned of broader retaliation if attacked again as Washington defended its military action, while unrest spread to Beirut after...
- Hezbollah supporters blocked Beirut roads and burned tyres protesting the US-backed Israel-Lebanon framework agreement announced in Washington.
- Hezbollah was not involved in the negotiations and has previously rejected calls for nationwide disarmament.
Business
Nasdaq Dubai lists $500 million Arab Energy Fund sukuk
Dubai, UAE -- Nasdaq Dubai has listed a $500 million sukuk issued by The Arab Energy Fund (TAEF), adding to...
- The senior unsecured trust certificates, issued through APICORP Sukuk Limited under TAEF's Trust Certificate Issuance Programme, mature in 2031.
- The sukuk was priced at a spread of 70 basis points over the Secured Overnight Financing Rate (SOFR).
Business
SpaceX’s blockbuster IPO gives way to volatile trading as investors reassess valuation
Among the several factors that contributed to the volatility is the limited share float. Only around 4.2% of total shares...
- SpaceX shares trade around $157, above the $135 IPO price but well below the post-listing peak of about $226.
- The stock briefly became the world's fourth most valuable listed company, surpassing Amazon and Microsoft, before retreating.