Projectiles hit Iran’s Sirik, Minab, Qeshm Island as oil crosses $100 a barrel
Trump, meanwhile, says he expected the war to end “immediately after” the US midterm elections in November, alleging that Iran...
Geostrategy
Hidden liabilities behind major property deals
UAE property investors must look beyond certificates to uncover hidden fire-safety risks that could affect costs, valuations and returns, writes...
Opinion
Business
UAE records 37% increase in greenfield FDI to $16 billion in 2023
Abu Dhabi, UAE -- The UAE has witnessed a 37% increase in greenfield investments in 2023 to reach US$16 billion,...
- Sectors such financial services, industrial equipment, and transportation and warehousing played an important role in contributing to this growth.
- The most prominent countries involved in these investments were the US., India, the U.K., Saudi Arabia, and France.
Business
ADNEC to acquire ‘Royal Catering’
Royal Catering has more than 2.500 employees.
- Serving key industries such as energy, defense, healthcare, and education, Royal Catering has earned a reputation for delivering high-quality services across the UAE.
- The addition of Royal Catering will expand Capital Catering’s industry focus from aviation, defense and healthcare and increase its production capacity
Business
PIF sets up sarcc company
The new entity will address growing staff accommodation demand.
- In a statement, PIF said sarcc will play a key role in transforming the accommodation market by developing and operating complexes for staff in Saudi Arabia.
- The company will foster the Saudi private sector by facilitating long-term investment and partnerships throughout the industry's value chain.
Economy
World merchandise trade to rise by 2.7% in 2024: Global Trade Outlook
There was a 2.3% year-on-year increase in the first half of 2024 and WTO economists anticipate the volume will increase...
- Global GDP growth at market exchange rates is expected to remain at 2.7 percent in both years.
- Declining inflationary pressure has allowed central banks in advanced economies to begin cutting interest rates, which should stimulate consumption.
Geostrategy
WTO predicts modest trade growth for 2024-25 amid geopolitical risks
In 2024 and 2025, inflation is expected to gradually abate, allowing real incomes to grow again in advanced economies, boosting...
- Risks to the forecast are on the downside “due to current geopolitical tensions and policy uncertainty. Middle East troubles have diverted sea shipments between Europe and Asia.
- It added that import demand in real terms was weak in 2023 in most regions, especially in Europe but also in North America and Asia.
Business
AviLease acquires 9 aircraft from Avolon
AviLease had purchased 13 aircraft from Avolon in 2023.
- AviLease aircraft portfolio now comprises 167 owned aircraft, including purchase commitments, and 23 managed aircraft on lease to 48 airlines globally.
- AviLease said the acquired portfolio offers attractive yields and further contributes to the diversification of its portfolio.
Business
US considering Google breakup following monopoly ruling
The US Department of Justice (DOJ) made recommendations for Google’s search engine business practices on Tuesday, according to US media....
- Structural remedies that would prevent Google from using products such as Chrome, Play, and Android
- Google will likely appeal, drawing out the process potentially for years
Business
ADNOC L&S to pay $136.5m dividend
This is equivalent to 6.78 fils per share, the company said.
- The Company intends to distribute a total dividend amount of $273 million (AED1,002.6 million) for the full year.
- The H1 2024 dividend will be paid to shareholders who own ADNOC L&S shares on the record date of 17th October 2024.
Economy
Oil prices at risk of further increases due to potential energy disruptions
Crude oil prices soared nearly 9% last week, marking the biggest weekly gain since March 2023, following a significant escalation...
- Israeli officials stated that Israel would target Iran's oil production facilities within Iran
- Iran is one of the top 10 oil producers globally, with production exceeding 3.3m barrels per day
Business
‘TAQA’ prices $1.75bn dual tranche
The 12-year senior unsecured notes are sized $850m.
- The 7-year notes, sized at US$900 million and maturing on 9th October 2031, are conventional bonds bearing a coupon rate of 4.375 percent.
- Proceeds from these bonds will be used for general corporate purposes.
Projectiles hit Iran’s Sirik, Minab, Qeshm Island as oil crosses $100 a barrel
Trump, meanwhile, says he expected the war to end “immediately after” the US midterm elections in November, alleging that Iran...
Geostrategy
Company News
Latest News
CFI posts record first-half trading volume of $5.34 trillion
Dubai, UAE -- CFI Financial Group said it recorded its strongest first half on record, with trading volume reaching $5.34...
Business
Qiddiya City launches ‘Powered by Play’ after global play research
Dubai, UAE -- Qiddiya City launched "Powered by Play," a long-term initiative aimed at promoting play as a driver of...
Research
ADNOC Okays $6.2bn Umm Shaif project to expand UAE supply
Dubai, UAE -- Abu Dhabi National Oil Company (ADNOC) has approved a final investment decision (FID) worth $6.2 billion to...
Business
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Geostrategy
US strikes Iran for tenth night after Tehran attacks bases in Bahrain, Kuwait
The US State Department issued a worldwide security alert, urging American citizens to exercise increased caution because of heightened tensions...
- IRGC said they targeted missile defense systems, radar facilities and satellite reception systems at U.S. positions in Kuwait.
- The Guard also claimed attacking radar installations and other military assets at two American outposts in Bahrain.
Geostrategy
Burnham names new cabinet after replacing Starmer as UK prime minister
Britain's new leader pledged a 10-year plan to ease living costs, re-industrialize the economy and decentralize power while reshaping his...
- Burnham removed several allies of predecessor Keir Starmer, appointing John Healey as finance minister, Ed Miliband as foreign minister and Wes Streeting as defense minister.
- Burnham spoke with U.S. President Donald Trump and Ukrainian President Volodymyr Zelensky on his first day, while opposition politicians called for a snap election.
Business
Kuwait’s annual inflation rises 2.19 percent in June
Dubai, UAE -- Kuwait's consumer price index (CPI), a key measure of inflation, increased by 2.19% year-on-year at the end...
- The Central Statistical Bureau (CSB) said the annual inflation rate was mainly attributed to increases in the prices of food, healthcare, clothing and education.
- The food and beverages group recorded the highest annual increase, rising 5.55% compared with June 2025.