UAE tops Arab Digital Economy Index 2026
The UAE topped the Arab Digital Economy Index 2026, with the assessment highlighting regional gains in infrastructure, digital government and...
Business
Sheikh Ahmed bin Rashid Al Maktoum passes away, 10-day mourning declared
His brother, Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, mourned his death on social media, writing: “You...
Geostrategy
Business
OpenAI limits release of new model after US government request
Dubai, UAE --Â ChatGPT developer OpenAI is restricting access to its latest artificial intelligence (AI) model at the request of...
- OpenAI launched a limited preview of its GPT-5.6 models after a request from the US government before wider release.
- The preview includes Sol, Terra and Luna models, initially available only to a small group of trusted partners.
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...
- Saudi Arabia ranked as Sharjah’s largest export destination, with the total export and re-export values surpassing AED1.5 billion, followed by Kuwait, Iraq, Qatar, and Ethiopia.
- SCCI reported 26,100 membership renewals across industrial, commercial, and professional sectors and 900 free zone memberships (new and renewed
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...
- Travellers must declare cash, gold, jewellery and precious items worth SAR40,000 or more when entering or leaving the kingdom.
- New rules establish Riyadh as headquarters of the General Directorate of Financial Intelligence, with authority to open nationwide branches.
Geostrategy
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...
- Iran warned continued US attacks would collapse the Strait of Hormuz agreement and halt ongoing diplomatic negotiations immediately.
- Netanyahu, meanwhile, said Lebanon's framework deal allows Israel to maintain a southern security zone until Hezbollah is fully disarmed permanently.
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.
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.
UAE tops Arab Digital Economy Index 2026
The UAE topped the Arab Digital Economy Index 2026, with the assessment highlighting regional gains in infrastructure, digital government and...
Business
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DEWA posts record H1 profit
Business
Dubai completes 104 real estate projects worth over $30.22 billion
Dubai completed 104 real estate projects worth more than AED111 billion in the first half of 2026, according to Dubai...
Business
Hormuz ship crossings halve as Iran war disrupts energy flows
No very large crude carriers or liquefied natural gas tankers were among the vessels recorded. One very large gas carrier...
Geostrategy
Emarat, Dell Technologies sign AI adoption agreement
Emirates Petroleum Company P.J.S.C. (Emarat) has signed a memorandum of understanding with Dell Technologies to accelerate artificial intelligence adoption and...
Business
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Geostrategy
Trump warns countries helping Iran of ‘tremendous economic consequences’
Tehran dismissed Washington’s latest pressure campaign as a diversion from US economic troubles as shipping through Hormuz remained severely restricted.
- Trump did not identify specific countries or measures, but warned businesses, banks, airports and governments could face major economic penalties.
- Iranian Foreign Minister Abbas Araqchi said further pressure would fail, as Washington and Tehran remained deadlocked over the strait.
Saudi POS transactions fall to $3.8 billion in week ended Aug 15
Dubai, UAE -- Point-of-sale transactions in Saudi Arabia fell to nearly $3.79 billion in the week ended Aug. 15, from...
- Food and beverage purchases represented 15.5% of weekly spending, while restaurants and cafes accounted for another 12.9%.
- Electronic payments represented 85% of individual payments last year, exceeding the Financial Sector Development Program’s 70% target.
Business
Dubai Chambers, NASSCOM to expand cooperation on Agentic AI
Dubai Chambers has signed a memorandum of understanding with India's National Association of Software and Service Companies (NASSCOM) to expand...
- NASSCOM represents more than 3,500 Indian technology companies, spanning startups and multinational corporations across the country’s technology sector.
- Dubai Chambers’ Agentic AI committee will oversee training, incubators and company development to accelerate private-sector adoption of emerging technologies.