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
Iran war cost Arab economies $150bn in the first month alone, UN official says
Meanwhile, Trump says: “Do I want to go in and annihilate them, or do I not? It’s a big decision....
Geostrategy
Business
Dubai Islamic Bank prices $1 billion AT1 sukuk after strong demand
Dubai, UAE -- Dubai Islamic Bank (DIB) has priced a $1 billion Additional Tier 1 (AT1) perpetual sukuk after attracting...
- Orders topped $2.3 billion from more than 85 institutional investors across the Middle East, Europe and Asia.
- The perpetual sukuk qualifies as Additional Tier 1 capital and will be listed on Nasdaq Dubai and Euronext Dublin.
Business
Samsung biggest chip investor
The tech giant invested nearly $59.2bn in 2025.
- Global semiconductor sales exceeded $620 billion in 2024 and are expected to approach $700 billion in 2025.
- East Asia remains the center of global chip manufacturing, with South Korea, Taiwan, Japan and China accounting for much of the world's semiconductor production capacity.
Geostrategy
Saudi, UAE startups join World Economic Forum’s global tech cohort
Saudi Arabia was represented by intella, which develops Arabic-language speech recognition and analytics tools, and Nommas Technologies, which provides AI-powered...
- World Economic Forum's 2026 Technology Pioneers recognizes early-stage companies developing technologies with the potential to reshape industries and societies.
- The cohort underscores a shift in global innovation patterns, with emerging economies playing a larger role in frontier technologies.
Economy
PIF assets reach $910 billion by 2025 end, below Vision 2030 target
According to the latest Vision 2030 annual report, the real non-oil GDP reached $892 billion against a target of $904...
- The figure represents substantial growth for the sovereign wealth fund but remains below the programme's target of $1.09 trillion.
- The sovereign wealth fund is the main financial engine behind Vision 2030, Saudi Arabia's plan to reduce dependence on oil revenues.
Business
flynas to set up new hub
Five destinations in first phase of operations.
- Initial routes will connect Al-Qassim with Istanbul, Trabzon, Cairo, Abha and Dammam.
- The move makes flynas the first Saudi airline to operate from six hubs across the Kingdom.
Geostrategy
US strikes Iranian military sites after Apache helicopter downing
The latest confrontation around the Strait of Hormuz threatens regional shipping security and comes despite renewed diplomatic efforts to stabilize...
- Trump said a wider regional peace agreement could be reached within "two or three days" even as military operations continued.
- Iran retaliated with missile and drone attacks targeting US military assets in Jordan and Bahrain and warned of harsher action.
Economy
Saudi Arabia’s economy expands as oil and non-oil sectors grow
According to the General Authority for Statistics (GASTAT), all major economic sectors recorded positive annual growth during the quarter, reflecting...
- Oil and non-oil activities each increased 2.9% from a year earlier, underscoring balanced contributions to economic expansion.
- By regulatory sectors, the oil sector expanded 2.8% YoY in Q1 2026, while the non-oil sector grew 2.6%. The private sector posted growth of 2.8%.
Business
Alef Group launches $1.08 billion waterfront development in Sharjah
Dubai, UAE -- Alef Group has launched Linar, a AED4 billion ($1.08bn) waterfront residential development in Sharjah, marking the company's...
- The project, located in Al Mamzar near the Dubai border, comprises five residential towers and one commercial tower and is expected to deliver 2,620 homes upon completion.
- Alef said expressions of interest for Towers A, B and C had been fully reserved, representing more than AED2 billion in potential sales value.
Business
UAE consumers embrace AI shopping but remain wary of autonomous purchases
Visa's latest Stay Secure study also highlighted the rapid rise of social commerce, with 69% of UAE consumers reporting purchases...
- Forty-six percent of respondents said they had experienced a financial scam during the past 12 months.
- Consumers increasingly see technology as part of the solution, with 85% believing AI will play a critical role in protecting people from fraud in the future.
Geostrategy
Israel and Iran signal restraint after renewed military clashes
Both countries, however, warned that they were ready to launch retaliatory attacks if provoked. The renewed hostilities raised concerns that...
- Diplomats from Saudi Arabia, Egypt, Turkey, Pakistan and Qatar reportedly urged Washington to press both sides toward restraint.
- The exchange followed Israeli strikes in Iran and Iranian missile attacks on Israel, with both sides citing earlier actions by the other as justification.
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
Company News
Burjeel profit nearly doubles
Business
Salik profit slips in H1
Business
Latest News
UN warns Gaza remains unsafe for civilians
Geostrategy
Israel bombs southern Lebanon again hours after killing 11 in deadly strikes
Meanwhile, Iran's foreign minister says Tehran has not decided whether to resume negotiations with Washington, accusing the United States of...
Geostrategy
AD Ports posts 88 percent rise in second-quarter net profit
Dubai, UAE -- AD Ports Group reported a record quarterly performance for the second quarter of 2026, with net profit...
Business
US warns of ‘never seen before’ sanctions against Iran as Hormuz impasse continues
US Treasury Secretary Scott Bessent said the sanctions "will be a combination of economic isolation like the world has never...
Geostrategy
Most Read
Geostrategy
Israeli settlers besiege three Palestinian families in occupied West Bank
Residents say settlers cut water and electricity, trapping families inside their homes as violence and land seizures by settlers intensify...
- Residents said Israeli forces intervened after days of siege but failed to remove settlers from the area.
- UN figures show settler violence, demolitions and evictions have displaced about 3,800 Palestinians in territory this year.
Analysis
GCC banks need stronger safeguards amid geopolitical uncertainty, KPMG says
KPMG says banks can strengthen portfolios through scenario analysis, stronger governance and monitoring as geopolitical tensions threaten borrowers, funding conditions...
- GCC banks' 19.3% capital ratio provides a foundation after years of prudent risk management and balance sheet discipline.
- Retail, corporate and commercial real estate portfolios face pressures from income erosion, funding costs, revenue disruption and valuation risks.
Geostrategy
US forces halt third cargo ship to enforce blockade of Iranian ports
A US helicopter fired missiles at a Panama-flagged cargo ship after its crew allegedly ignored repeated warnings from American forces,...
- Four drones struck three Kurdish camps near Erbil, with no casualties reported, amid tensions involving Tehran and Iraq.
- Three Pakistani nationals were killed and another injured in Houthi attack on a vessel in the Red Sea.