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
Geostrategy
Fresh Israel-Iran attacks overshadow ceasefire efforts across the region
Air raid alerts sounded across Israel, explosions were reported over Jerusalem, and Iranian state media reported blasts in Tehran, Tabriz...
- The escalation comes amid continued fighting in Lebanon, deadlocked US-Iran diplomacy and growing warnings over the conflict's economic fallout.
- Israeli strikes in southern Lebanon this week killed at least 12 people, including Lebanese army Brigadier General Wassam Sabra.
Arts & Culture
Ancient water network discovered in historic Cairo
Excavations revealed two large wells connected to an advanced water distribution system that supplied water to the citadel through waterwheels...
- Archaeologists also uncovered service facilities associated with the system, including animal pathways, storage areas, and water basins.
- In the Hattaba district, the mission discovered remains of a Mamluk-era mosque, including the mihrab, parts of the qibla area, sections of stone flooring, and several Islamic-era b
Business
Google inks multi-year AI infrastructure pact with SpaceX
Dubai, UAE -- SpaceX has signed a multi-year cloud services agreement with Alphabet's Google, securing a major customer for its...
- Google will pay $920 million monthly from October through June 2029, with reduced charges during the initial ramp-up period.
- SpaceX said the contract covers roughly 110,000 Nvidia GPUs alongside CPUs, memory and related computing infrastructure.
Geostrategy
US expands Iran sanctions as pressure campaign intensifies
The U.S. Treasury said the sanctions cover 12 entities, including companies based in the Marshall Islands, the United Arab Emirates...
- Washington also sanctioned an Iranian exchange house and associated individuals accused of facilitating billions of dollars in transactions.
- Lebanese President Joseph Aoun, meanwhile, accused Iran of using Lebanon as a bargaining chip in negotiations with the United States.
Business
Global travel firms reaffirm confidence in UAE tourism growth
Dubai, UAE --- Global travel companies and tourism industry leaders expressed confidence in the UAE's tourism sector during the "Engage...
- Elevate World launched Yara AI to support tour operators, hotels and tourism stakeholders across the wider travel ecosystem.
- Wynn Al Marjan Island updated industry partners on construction progress and international trade engagement ahead of opening.
Business
Oil steadies while gold and bitcoin extend weekly losses
Oil markets were supported by expectations that ongoing talks between the United States and Iran could help secure energy flows...
- U.S. crude remained more than 6% higher for the week despite Thursday's sharp decline on optimism over Iran talks.
- Record outflows from U.S. spot bitcoin ETFs in May accelerated cryptocurrency losses as investors shifted toward technology stocks.
Geostrategy
Hezbollah dismisses US-brokered truce, insists on comprehensive ceasefire
The Arab League, meanwhile, warned that Israeli occupation policies and military actions across Palestinian, Lebanese and Syrian territories undermine peace...
- Lebanese and Israeli envoys agreed in Washington to pilot zones under exclusive Lebanese army control despite Hezbollah opposition.
- Arab League linked regional stability to ending occupation, urging international pressure against settlement expansion and military operations.
Business
UAE property market draws global investors despite regional conflict
The UAE Property Investment Index, conducted by U.S.-based Penta Group, found that 56% of global property investors expressed serious interest...
- More than half of surveyed investors expressed serious interest in UAE property, surpassing investor interest levels in the United States.
- Indian, Egyptian and Saudi investors showed particularly strong demand, while European buyers increasingly view the UAE as a preferred overseas market.
Economy
Fragmenting world economy raises costs beyond geopolitical rivals
A report published by the World Economic Forum (WEF) and consulting firm Oliver Wyman found that fragmentation accelerated through 2025...
- Annual economic losses from fragmentation already total up to $307 billion as tariffs and investment restrictions proliferate globally.
- Emerging economies outside major geopolitical blocs could suffer output losses nearly twice the global average under escalation scenarios.
Business
ChatGPT surpasses 1 billion monthly active users in May
Dubai, UAE -- OpenAI's ChatGPT surpassed 1 billion monthly active users in May, becoming the fastest application to reach the...
- Sensor Tower estimates ChatGPT reached one billion monthly users roughly three years after launching in late 2022.
- Growing enterprise adoption and multimodal capabilities have helped fuel demand amid intensifying competition across artificial intelligence markets.
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
Alpha Dhabi profit jumps 48%
Business
Latest News
Agthia profit, dividend jump
Business
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...
Geostrategy
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...
Analysis
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,...
Geostrategy
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Business
UAE, Qatar lead Global Telecom Health Index on market structure
Kearney’s 34-market study finds coordinated investment, strong customer satisfaction and financial performance helping the two Gulf markets outperform larger economies.
- Markets with two or three mobile operators scored higher across financial, commercial and technology measures than more fragmented markets globally.
- Tower ownership also emerged as a factor, with UAE operators retaining passive infrastructure linked to stronger deployment and commercial performance.
Geostrategy
Trump demands Iran pay compensation for 50 years of damages
Trump’s demand comes as Tehran links Hormuz’s reopening to war reparations and an end to sanctions, complicating ongoing Iran-Oman talks...
- Two sides remain divided over Hormuz, with Washington maintaining a naval blockade while Tehran says American actions have made the waterway unsafe.
- Shipping data shows traffic remains sharply reduced, while US officials say dozens of commercial vessels have been redirected since the blockade resumed.
Business
ADNOC Gas posts $665 million in H1 net income
The company also raised its target for EBITDA growth to 60 percent by 2030, compared with 2023, up from its...
- Fatema Al Nuaimi, CEO of ADNOC Gas, said the company was accelerating one of the world's largest gas-processing growth programmes.
- The board approved a quarterly dividend of $940 million, payable in September, in line with the company's commitment to annual dividend growth of 5 percent through 2030.