Iran says Hormuz remains closed despite transit agreement with Oman
US president Donald Trump, meanwhile, says that all mines have been cleared from the waterway's international waters and that Tehran...
Geostrategy
Iran calls new US sanctions ‘declaration of war’ against all countries
US president Donald Trump, meanwhile, says he views the Strait of Hormuz as 'an American territory' and Iran 'cannot be...
Geostrategy
Geostrategy
World’s five richest men doubled their fortunes since 2020: Oxfam
A report from the charity, published as the global elite hobnob at the World Economic Forum in Davos this week,...
- Billionaires are today $3.3 trillion richer than they were in 2020, despite many crises devastating the world's economy since this decade began, including the Covid pandemic.
- With riches among the world's wealthiest increasing the way they are, Oxfam predicted that within a decade the world will see its first "trillionaire".
Business
Elie Saab to showcase Riyadh Season Fall Collection 2025
Riyadh, Saudi Arabia -- Renowned fashion designer Elie Saab will unveil the Riyadh Season Fall Collection 2025 after signing an...
- Elie Saab and General Entertainment Authority CEO Faisal Bafarat signed an MoU in London.
- The Authority said the MoU will create a one-of-a-kind experience that intertwines fashion and entertainment during the upcoming Riyadh Season.
Business
Dubai records $2.74 billion in weeklong real estate transactions
Dubai, UAE -- The real estate and properties transactions valued at 10.1 billion ($2.74 billion) in total during the week...
- A total of 209 plots were sold for AED 2.19 billion, 2,100 apartments and villas were sold for AED 4.84 billion.
- The sum of the amount of mortgaged properties for the week was 2.28 billion, with the highest being a land in Al Raffa, mortgaged for AED 269.5 million.
Business
Abu Dhabi real estate deals hit $517 million since Jan 1: DARI
Abu Dhabi, UAE -- Real estate transactions in Abu Dhabi amounted to approximately AED 1.9 billion ($517 million) in the...
- The value of real estate mortgages in the emirate reached about AED 1.5 billion through the registration of 215 mortgage deals.
- Al Saadiyat Island topped the list with a value of AED 8.9 million, followed by Yas Island which occupied four consecutive positions, totaling about AED 23 million
Business
OYO New Year Eve bookings up 64%
Oman emerges top performer in the GCC region.
- Saudi Arabia with 59 percent and United Arab Emirates with 31 percent growth were the other top performers.
- Siniya Island Resorts, a luxurious property in Dubai, was one of the most preferred destinations for new year celebrations.
Business
Qatar records $222m in realty deals: Registration department
Doha, Qatar -- The volume of real estate trading in sales contracts at the Department of Real Estate Registration at...
- Total sales contracts for residential units in the Real Estate Bulletin for the same period were QR 19.38 million.
- Real estate properties traded for sale has included vacant lands, houses, residential buildings and commercial buildings.
Business
ACWA Power-led consortium signs deal for wind energy project
Cairo, Egypt -- The Egyptian government signed an agreement yesterday with a consortium led by the Saudi company ACWA Power...
- This wind energy production project in the Middle East in Egypt will be the largest in the Middle East.
- With investments reaching up to $1.5 billion, the project will be established in the Gulf of Suez and Jebel El-Zeit regions, boasting a capacity of 1.1 gigawatts.
Business
Borouge signs supply agreement
The two-year agreement is worth AED 160 million ($43.56 million).
- Under the two-year agreement, Borouge will provide advanced infrastructure solutions to NAFFCO for various infrastructure projects across the region.
- The Guggenheim Museum, the Riyadh city project, Mohamed bin Zayed City and the Yas Island Development Project are some of the projects.
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Saudi, UAE report highest levels of gross debt
Among the Arab countries, Egypt recorded the highest debt-to-GDP ratio of 92.7 percent while US and China are on an...
- Developing countries spent a record $443.5 billion to service their external public and publicly guaranteed debt in 2022, the World Bank said recently.
- The increase in costs shifted scarce resources away from critical needs such as health, education, and the environment.
Business
Five new residency programs to attract talent to Saudi Arabia
These residency products offer several benefits, including the ability to conduct business and invest in Saudi Arabia, own real estate,...
- Special Talent Residency: is focused on attracting healthcare professionals, scientists, and researchers with exceptional expertise and experience.
- Entrepreneur Residency is geared towards aspiring entrepreneurs and innovators eager to launch and grow their startups in the Kingdom.
Iran says Hormuz remains closed despite transit agreement with Oman
US president Donald Trump, meanwhile, says that all mines have been cleared from the waterway's international waters and that Tehran...
Geostrategy
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Marco Rubio : ‘We’re going to be completely aligned with our partners in the Gulf’
He said that technical talks between the United States and Iran are expected to resume in Switzerland on June 29...
Geostrategy
Saudi tourist spending rises to $22 billion in Q1 despite drop in foreign arrivals
Domestic travel helped sustain Saudi Arabia's tourism sector in the first quarter, with total visitor numbers rising to 37.2 million...
Business
Oman opens temporary Hormuz shipping corridor as efforts intensify to restore maritime traffic
Muscat said the measure was intended to safeguard freedom of navigation in accordance with international maritime law and without imposing...
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Business
Gold prices fall 1 percent on Fed rate rise expectations, gold edges higher
Brent crude futures rose 24 cents, or 0.38%, to $78.15 a barrel by 0026 GMT, while U.S. West Texas Intermediate...
- The gains followed a selloff of more than 3% on Monday, when oil prices fell after signs of progress in negotiations between Washington and Tehran.
- Spot gold was down 1.1% at $4,142.61 an ounce as of 0414 GMT, while U.S. gold futures for August delivery fell 1% to $4,160.20.
Geostrategy
AI to cancer vaccines: Emerging technologies edge closer to large-scale adoption
World Economic Forum's Top 10 Emerging Technologies Report 2026, developed alongside the Dubai Future Foundation, has identified 10 technologies that...
- Advances in healthcare, energy and manufacturing increasingly depend on infrastructure, deployment capacity, regulation and public adoption.
- Among the technologies identified are everything-to-grid energy systems, direct lithium extraction and precision fermentation.
Business
Abu Dhabi new business licenses rise 21% in first quarter, ADRA says
New economic licences issued in Abu Dhabi rose 21% in the first quarter of 2026 from a year earlier, reflecting...
- New licences rose 58% in Al Ain and 28% in Al Dhafra, outpacing growth in Abu Dhabi city.
- Thirty-four industrial facilities entered production during the quarter, supporting local manufacturing capacity and supply-chain development goals.