Vance hails ‘historic’ US-Iran talks as Trump warns Tehran over Lebanon ‘proxies’
US and Iranian negotiators opened talks in Switzerland amid renewed tensions over Lebanon, with both sides linking progress to regional...
Geostrategy
Lebanon violence tests US-Iran accord as Israeli ministers harden rhetoric
Lebanon's Health Ministry said at least 21 people were killed and 39 wounded in overnight strikes across southern Lebanon.
Geostrategy
Business
Emirates retains fourth most valuable airline brand status
Dubai, UAE -- UAE carrier Emirates defended its title as the fourth most valuable airline brand, with a staggering 30...
- The UAE carrier witnessed 30 percent increase in brand value, reaching $6.6 billion, according to Brand Finance, a brand valuation consultancy.
- Qatar Airways (brand value up 27 percent to $3.1 billion) is the second most valuable Middle Eastern brand.
Business
ADIB closes $235m Sharia-compliant transaction to finance gas carriers
Abu Dhabi, UAE -- Abu Dhabi Islamic Bank (ADIB) has closed a sharia compliant syndicated transaction totaling AED865 million ($235...
- This is the second tranche of $370m syndication, which will be used to finance the construction of three Very Large Gas Carriers.
- The vessels will be dual-fuel efficient and enjoy operational, economic and environmental efficiencies through their Liquefied Petroleum Gas (LPG) engines.
Arts & Culture
Abu Dhabi SeaWorld named world’s largest indoor marine-life theme park
Abu Dhabi, UAE -- SeaWorld Yas Island, Abu Dhabi, has been recognized as the largest indoor marine life theme park...
- Covering a sprawling expanse of over 183,000 square meters and spanning five indoor levels, this facility stands as the inaugural marine life theme park in the region.
- The marine life theme park has been certified by Global Humane, the world's foremost certifier of animal welfare standards.
Business
Empower okays S115.7m dividend
The company has already disbursed dividends for H1 2023
- Empower, listed on the Dubai Financial Market, achieved record-high revenue of AED 3.035 billion for 2023.
- The company anticipates a minimum dividend payout of AED850 million annually during the first two fiscal years post-listing on the DFM
Business
Mubadala invests in Avanse
Avanse is education-focused non-banking financial company.
- Mubadala led this round of funding through its affiliate Alpha Investment Company with participation from Avendus.
- Avanse is the second largest NBFC in the education finance space in India, with AUM at around AED5.5 billion.
Business
Atlantis Dubai first Eastern Hemisphere Certified Autism Center resort
Dubai, UAE -- Atlantis Dubai becomes the first resort destination in the Eastern Hemisphere to gain the Certified Autism Center...
- To meet IBCCES requirements, Atlantis Dubai ensured that over 80 percent of its colleagues received training in autism and sensory awareness.
- More than 90 percent of guest-facing colleagues across both resorts underwent training in Autism & Sensory Awareness (ASA).
Business
Arabian Travel Market’s sold-out Travel Tech area grows 56% YoY
Dubai, UAE -- More than 100 of the world’s leading travel technology companies will be exhibiting at Arabian Travel Market...
- 33 percent more exhibitors participating this year, thanks to unprecedented demand from companies looking to showcase their innovations in front of a global audience.
- The global travel technology market was valued at $9.4 billion in 2022 and is projected to reach $21 billion by 2032.
Business
ADNIC approves cash dividend of $69m
The company had posted its highest-ever net profit of $109.1m for 2023.
- Earnings per share (EPS) had climbed year-on-year (YoY) to AED 0.70 in 2023 from AED 0.63.
- During 2023, ADNIC's total insurance revenue hit AED 4.64 billion, down from AED 4.66 billion a year earlier.
Business
Boubyan Bank okays 8% cash dividend
The Bank's general assembly also approved 6% in bonus shares.
- The Bank managed a record growth rate of 39 percent, while registering KD 80.4 million ($262.75 million.
- Chairman Boubyan Bank Abdulaziz Abdullah Dakheel Al-Shayahe said the bank continued its precautionary approach by allocating KD 31.7 million in provisions.
Business
Petro Rabigh net loss up 320% in 2023
The company narrowed losses to $367 million in Q4.
- The company said the losses piled up primarily due to the challenging market conditions adversely affecting the margins for both refined and petrochemical products and other factor
- The company’s accumulated losses as of December 31, 2023, amounted to SAR 6.40 billion representing 38.34 percent of the company’s share capital of SAR 16.71 billion.
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Vance hails ‘historic’ US-Iran talks as Trump warns Tehran over Lebanon ‘proxies’
US and Iranian negotiators opened talks in Switzerland amid renewed tensions over Lebanon, with both sides linking progress to regional...
Geostrategy
Company News
Tasnee’s 2025 losses deepen
Business
DP World 2025 revenue $24.4bn
Business
Latest News
Pentagon puts Iran war cost at $25 Bn; Hegseth clashes with lawmakers
The Pentagon has estimated that the ongoing Iran war has cost the United States $25 billion and claimed 14 American...
Geostrategy
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Geostrategy
UAE quits OPEC, reshaping global oil politics
The decision marks one of the most significant ruptures in the producer group's recent history. Long viewed as one of...
- UAE Energy Minister Suhail al-Mazrouei said the decision followed a careful review of current and future energy policies.
- For years, the UAE has invested heavily in expanding its oil production capacity, seeking to raise output to around 5 million barrels per day by 2027.
Geostrategy
Next wave of global competitive advantage lies in tech combinations: WEF
Eight technology domains, including AI, robotics, engineering biology and advanced materials are no longer advancing in isolation.
- The United States alone could face a shortfall of between 10,100 and 19,900 surgeons by 2036.
- Organizations are urged to assess where bottlenecks sit in their value chains, determine which technology combinations could shift those constraints.
Geostrategy
Trump claims Iran in ‘state of collapse’, says Tehran wants blockade lifted
US President Donald Trump has claimed that Iran is in a “state of collapse” and said Tehran has approached Washington...
- Speaking amid escalating tensions, Trump said Iran wanted the restrictions removed “as soon as possible”.
- The remarks come as Washington continues its maximum pressure campaign against Tehran, targeting its economy, trade routes and oil exports