Iran says it will administer Hormuz as talks make progress on Lebanon security
Mediators Qatar and Pakistan announced the creation of a direct communication channel designed to reduce the risk of misunderstandings and...
Geostrategy
Dubai completes 30% of dedicated bus and taxi lanes expansion project
Dubai, UAE -- Dubai's Roads and Transport Authority (RTA) has completed 30% of a project to build 14.5 km of...
Geostrategy
Business
2024 Global Aerospace Summit: Accelerating aerospace innovation
Abu Dhabi, UAE -- Representing the aerospace, aviation, space, and defense sectors, the premier thought leadership forum will aim to...
- The two-day event will take place on 25-26 September at the St. Regis, Saadiyat Island Resort in the UAE capital – Abu Dhabi.
- The 2024 edition will center on several objectives designed to drive the industry forward and address global aerospace concerns.
Business
Al Noor Island listed among top 10 attractions in Middle East
Sharjah, UAE -- Sharjah's renowned landmark and award-winning family-friendly destination, Al Noor Island, has secured its place among the top...
- Developed and managed by the Sharjah Investment and Development Authority (Shurooq), the destination has been ranked among Sharjah's top attractions since its inception.
- This recognition marks the second consecutive year that Al Noor Island has won the title, an achievement reserved for the top 1% of the 8 million listings on TripAdvisor.
Business
Saudi records $412m venture capital funding in H1, highest in MENA
Riyadh, Saudi Arabia -- Saudi Arabia has maintained its first rank across MENA in terms of the amount of Venture...
- E-commerce/retail was the highest sector in the Kingdom in terms of VC funding, accounting for 52 percent of total funding, amounting to $215 million.
- FinTech continued to lead the Kingdom's total number of deals, capturing 14 percent of deals in the first half of 2024.
Economy
Dollar droops before Powell testimony; euro weathers France uncertainty
The U.S. dollar hung near a multi-week low versus major peers on Tuesday, still smarting from Friday's unexpectedly soft jobs...
- The U.S. dollar index was flat at 104.99
- Traders currently set about 76% odds for a rate cut at the September FED meeting
Economy
Top Middle East sovereign wealth funds invested $38.2 billion in 58 deals
Investments in H1 2024 led by the top Middle East sovereign wealth funds reached$38.2 billion in 58 different deals, according...
- The amount invested by the ‘Oil Five is more than double what the ‘Maple Eight’deployed
- Mubadala re-opened its Beijing office in 2023 to manage its $10 billion JV with SAFE and CDB
Geostrategy
Remittance flows to low-middle-income countries $656bn
World Bank’s latest Migration and Development Brief said the modest 0.7 percent growth rate reflects large variances in regional growth,...
- Remittances to LMICs are expected to grow at a faster rate of 2.3 percent in 2024, although this growth will be uneven across regions.
- Remittances to the Middle East and North Africa fell by 15 percent to $55 billion While those to South Asia grew by 5.2 percent in 2023.
Arts & Culture
Qatar to witness GCC’s highest growth in hospitality industry revenue until 2028
Hospitality industry revenue in Qatar is expected to witness the highest growth rate in GCC until 2028, Alpen Capital has...
- Qatar’s hospitality sector projected to rise 11% annually from $0.9bn in 2023 to $1.5bn in 2028
- In 2024 alone, Qatar is slated to host over 80 events scheduled throughout the year
Business
Global FDI falls by 2 percent to $1.3 trillion in 2023: UNCTAD
Geneva, Switzerland -- Global foreign direct investment (FDI) fell by 2 percent to $1.3 trillion in 2023 amid an economic...
- But the UNCTAD report highlights that the decline exceeds 10 percent when excluding the large swings in investment flows in a few European conduit economies.
- FDI flows to developing countries fell by 7 percent to $867 billion last year, reflecting an 8 percent decrease in developing Asia.
Economy
UAE, Qatar Central banks keep interest rates unchanged towing the line with US Fed
The Central Bank of the UAE (CBUAE) and Qatar Central Bank (QCB) have decided to keep interest rates unchanged, following...
- The US Fed funds rate was maintained at the 5.25% - 5.50% range
- The US Consumer Price Index (CPI) showed no increase in May
Arts & Culture
Oman aviation sector sees 16.4% passenger growth in first 4 months of 2024
Oman witnesses a 16.4% growth in passenger traffic in early 2024 The Sultanate of Oman’s aviation sector has experienced remarkable...
- Oman's four airports collectively handled over 4.9 million passengers
- Country planning to build six new airports and increase their number in Oman to 13 by 2028-29
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
Iran says it will administer Hormuz as talks make progress on Lebanon security
Mediators Qatar and Pakistan announced the creation of a direct communication channel designed to reduce the risk of misunderstandings and...
Geostrategy
Company News
Latest News
SpaceX IPO valuation raises concerns over investor demand
SpaceX’s planned initial public offering at a valuation of at least $1.8 trillion is emerging as a major test of...
Business
US, Iran trade blame as Israel-Lebanon tensions escalate
Iran said it fired on a U.S. military base in the region, while the United States reported strikes on Iran’s...
Geostrategy
Closure of Strait of Hormuz may trigger lasting shift in Gulf trade corridors: report
About $650 billion in trade flows are affected, with global maritime routes facing growing disruption and uncertainty risks.
Economy
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Geostrategy
UAE organizations strengthen governance to scale AI cybersecurity: Report
Governance, accountability and validation processes emerge as critical requirements for translating growing AI investment into measurable operational and security outcomes,...
- More than 95% of AI use cases globally fail delivering measurable business or security value, according to KPMG research.
- UAE organizations increasingly prioritize board-level accountability, lifecycle oversight and structured validation processes as AI cybersecurity deployments continue scaling rapid
Business
Visa expands AI-driven payments program across CEMEA region
Visa launched its global Agentic Ready program in the United Arab Emirates on Wednesday, expanding efforts to support artificial intelligence-driven...
- UAE financial institutions including Emirates NBD, Mashreq and ADCB joined the first phase of the AI commerce program.
- Visa research found nearly 60% of UAE businesses are exploring agentic commerce applications and AI-driven transaction models.
Business
UAE property market enters more sustainable growth phase
The UAE real estate market entered a more measured and mature phase in the first quarter of 2026 after the...
- Abu Dhabi recorded about 7,800 residential deals in Q1, up 119% year-on-year amid sustained investor demand.
- Dubai apartment deliveries exceeded 10,000 units monthly as developers maintained large residential construction pipelines.