Four Palestinians killed as pressure mounts over West Bank settlements
The UK and 11 other countries have announced support for trade sanctions targeting Israeli settlements in the occupied West Bank....
Geostrategy
Tehran to announce new Hormuz shipping route in coming days
The announcement comes after Iran signed an agreement with Oman, as shipping traffic plunges, oil prices rise and regional governments...
Geostrategy
Business
UAE, Saudi Arabia lead Middle East IPO surge in second quarter
Abu Dhabi, UAE -- The IPO market in the Middle East and North Africa (MENA) region remained resilient during the...
- A total of 14 IPOs recorded total proceeds of US$2.64 billion, up 45.3 percent compared to the same period last year.
- The UAE’s Alef Education Consultancy LLC and Spinneys 1961 Holding Plc accounted for 33.8 percent of the region’s total proceeds for the quarter.
Oil prices soar 4 percent but US inflation fears ease
U.S. crude oil prices rose over 4% on Monday, surpassing $80 per barrel, as the Pentagon deployed additional forces to...
- WTI and Brent crudes were both hovering around $80 per barrel at time of publishing
- Expectations for three-year inflation hitting a record low of 2.3%
Saudis reform Investment Law in bid to attract foreigners
Saudi Arabia announced new business regulations aimed at boosting transparency and easing the process of investing in the kingdom as...
- Update will replace the current licensing process in 2025
- Kingdom wants to hit $100 billion of FDI annually by 2030
Business
ADQ to invest $1bn in Sotheby’s
ADQ will acquire newly issued shares of Sotheby’s to support its growth.
- ADQ’s said the deal reflects its strategic commitment to pursuing value-accretive investment opportunities that contribute to Abu Dhabi's economic diversification.
- Patrick Drahi, who acquired Sotheby’s in 2019, will also invest additional capital alongside ADQ and remain Sotheby’s majority owner.
Science
Imam Turki bin Abdullah Royal Reserve: A hub for over 40,000 beehives
The reserve is a sanctuary for plant life, home to over 180 recorded species, making up 7.5 percent of the...
- Imam Turki bin Abdullah Royal Reserve hosts more than 40,000 beehives across 400 sites
- The beekeepers expressed their appreciation to the reserve authorities for the vital support provided
Business
Oil and gas sector in Arab countries attracts projects worth $406bn
Kuwait: -- The oil and gas sector in Arab countries attracted 610 projects implemented by 356 foreign and Arab companies,...
- United States topped the list as the most important investing country in the Arab region in the oil and gas sector with 85 projects.
- Russia ranked first in terms of investment costs, with a value of US$ 61.5 billion, representing about 15.2 percent of the total.
Business
Abu Dhabi to host Loop CEE travel fair for first time in Middle East
Abu Dhabi, UAE -- The Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi) and Miral will host...
- The luxury travel fair is being organized by the Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi) and Miral.
- Over the course of five days, each exhibitor will have the opportunity to conduct 62 appointments, each lasting for 15 minutes.
Business
Oman, China bilateral trade grows by 8% to $15bn till May
The volume of bilateral trade between the Sultanate of Oman and the People’s Republic of China has increased 8% in...
- The major projects in Oman are in new energy, mining, electricity generation, IT and communications
- Chinese investments in Oman stood at over US$6.6bn
Economy
Bitcoin crashes, Ether has worst drop since 2021 as crypto market melts
Cryptocurrencies reeled from a bout of risk aversion in global markets on Monday, at one point sending Bitcoin down more...
- Bitcoin traded 8.5% lower at below $54,000at $54,000 at time of publishing
- About $700 million of bullish crypto positions using derivatives were liquidated in the past 24 hours
Economy
Fed Chair Powell confirms September rate cut signal
The Federal Reserve kept its key interest rate at 5.25% to 5.5%, citing “some further progress” toward its 2% inflation...
- Central bank’s economic forecasts do not take into account who wins the presidency.
- Powell seemed to rule out the likelihood of a 50 basis-point rate cut
Four Palestinians killed as pressure mounts over West Bank settlements
The UK and 11 other countries have announced support for trade sanctions targeting Israeli settlements in the occupied West Bank....
Geostrategy
Company News
Latest News
UAE says retraction of Dubai ‘explosions’ report will not halt probe
Dubai, UAE -- The government has said that Reuters' decision to withdraw and apologise for a report claiming explosions were...
Geostrategy
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...
Business
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...
Geostrategy
Most Read
Saudi Ports Authority signs $266.6 million logistics agreements
Dubai, UAE -- Saudi Ports Authority (Mawani) signed seven agreements worth 1 billion riyals ($266.6 million) to establish logistics centres...
- The agreements were signed during the inauguration of the Truck Marshaling Project.
- They include projects to develop integrated logistics, warehousing, storage, distribution and re-export facilities.
Business
PIF-backed SURJ launches venue venture radia with Live Nation, OVG
Dubai, UAE -- SURJ Sports Investment Co, owned by Saudi Arabia's Public Investment Fund (PIF), has launched a joint venture...
- PIF-owned SURJ formed radia with Live Nation and Oak View Group to manage Saudi sports venues and operations nationwide.
- Xavier Campbell was appointed chief executive officer and will lead the company's market launch and long-term growth strategy.
Business
EDGE to acquire 100% stake in Brazilian firm AKAER
Dubai, UAE -- UAE defense and advanced technology group EDGE has agreed to acquire a 100 percent stake in Brazilian...
- EDGE said the acquisition would accelerate industrialization timelines for key unmanned aerial vehicle (UAV) programs.
- Founded in 1992 and headquartered in São José dos Campos, AKAER has delivered more than 10 million engineering hours across military and commercial aerospace programs.