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
Saudi surpasses Vision 2030 tourism target, says IMF report
Tourism is a major contributor to the Kingdom's economic diversification efforts, the IMF notes in its 2024 Article IV Consultation...
- The sector's direct and indirect contribution to GDP reached 11.5 percent in 2023, with expectations to grow to 16 percent by 2034.
- Central to this growth has been a combination of strong domestic demand and increased international arrivals.
2024 Crypto Crime Update Part 2: China-based cybercrime networks on the rise
In part 1 of our mid-year crime update, we discussed trends related to ransomware and stolen funds. While aggregate illicit...
- 43% of YTD scam inflows have gone to wallets that became active this year
- Huione Guarantee, appears heavily used for illicit crypto-based activities, including pig butchering, investment fraud, and money laundering
Nvidia’s forecast dampens AI enthusiasm in other tech stocks
Shares of Nvidia and other technology heavyweights fell late on Wednesday, a discouraging sign for investors betting that a strong...
- Nvidia loses $200 billion in market value
- Investors' high expectations led to disappointment despite Nvidia's strong earnings
Business
UAE national carriers fly to 606 destinations as travel demand rebounds
Abu Dhabi, UAE -- UAE national carriers continued to expand their destinations for passengers, supported by the UAE's leading position...
- The carriers reached about 586 destinations at the end of last year 2023. The national carriers' destinations currently include more than 144 Emirates destinations.
- flydubai flies to 125 destinations in 58 countries across Africa, Central Asia, Central and Southeast Europe, the GCC, the Middle East.
Asia shares edge up and dollar down; oil gains
Asian shares crept cautiously higher on Monday, while the dollar and bond yields were on the wane ahead of inflation...
- Oil prices climbed 0.8% after Israel and Hezabollah traded rocket salvos
- The dollar slipped a further 0.5% to 143.64 yen, having fallen 1.3% on Friday
Business
EGA buys 80% stake in Spectro
EGA says the deal boosts its plan to expand recycling space globally.
- The owners and management will hold a 20 per cent stake, as the two companies have signed a share purchase agreement.
- The transaction is expected to be completed during the third quarter of 2024, subject to obtaining all regulatory approvals.
Economy
Oil falls by more than $2 a barrel on Gaza ceasefire talks and weak Chinese economy
Oil prices fell by more than $2 a barrel Monday on the prospect of successful Middle Eastern peace talks reducing...
- Brent crude futures settled at $77.66 a barrel
- Energy investors also awaited clues on the U.S. Federal Reserve's next interest rates decision
Business
Abu Dhabi Airports, Paris Airports to expand air transport infrastructure
Abu Dhabi, UAE-- Abu Dhabi Airports has expanded its existing collaboration with Paris Airports Group (ACG) to focus on collaborating...
- This decision comes after Abu Dhabi Airports completed a comprehensive program of activities aimed at enhancing the contribution of partners among other things.
- The collaboration is aimed at creation of the ground infrastructure needed to provide advanced air transport applications in Abu Dhabi.
Global fears spread about Mpox- How worried should you be?
The World Health Organization (WHO) regional director for Europe warned on Thursday that Mpox could spread to other countries after...
- Sweden reported the first case of the more contagious variant of Mpox outside of Africa
- The virus seems to be spreading quickly and little is known about it
Economy
World’s largest SWF posts $138 billion in H1 profit as AI demand boosts tech
Norway’s massive sovereign wealth fund on Wednesday posted first-half profit of 1.48 trillion kroner ($138 billion), primarily driven by robust...
- Completely different geopolitical situation now present more risks to global stocks
- The PIF, which has $977 billion in assets, reported a 2023 profit of $17.2 billion in a July 2024 filing
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
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...
Business
Saudi public investment funds assets rise 20 percent in Q1 to $61 billion
Dubai, UAE -- Assets of Saudi Arabia's public investment funds rose 20 percent year-on-year to SAR231.7 billion ($61.8 billion) in...
Business
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Business
Abu Dhabi real estate transactions more than double in H1
Data released by the Abu Dhabi Real Estate Centre (ADREC) showed total real estate transactions reached $31.9 billion in the...
- Foreign investment jumped 309 percent while new investment zones and projects underscored growing global confidence in Abu Dhabi property.
- The number of nationalities represented by non-resident investors rose to 116 from 82 a year earlier.
Geostrategy
US strikes Iran again as Supreme Leader says breaches show Trump signature ‘invalid’
US Central Command (CENTCOM) said the latest attacks targeted Islamic Revolutionary Guard Corps (IRGC) forces it blamed for the Jordan...
- Iran's army said it launched "large-scale" drone attacks against Camp Udairi and Ali Al Salem Air Base in Kuwait in response to continued US strikes on Iranian territory.
- Washington said the latest deaths brought the number of US military fatalities linked to the conflict to 16.
Geostrategy
Iran says it has suspended commitments to MoU as it is ‘busy defending the country’
US struck Iran for the seventh consecutive night, prompting Tehran to launch attacks on the neighboring Gulf nations. GCC has...
- US strikes killed three people in Hormozgan and injures eight others, according to Iranian media.
- Jordan's army said it intercepted 10 Iranian missiles, reporting no casualties or damage.