Emirates becomes first airline cargo carrier to deploy Boeing 777-300ERSF
Dubai, UAE -- Emirates is marking a significant milestone in the expansion of its cargo fleet by becoming the first...
Business
Sharjah Chamber registers 30,000 memberships in H1
Dubai, UAE -- The Sharjah Chamber of Commerce and Industry (SCCI) reported an impressive surge in registered memberships in the...
Business
Economy
China’s foreign exchange reserves rise by $31bn to $3.44 trillion
Dubai, UAE -- China’s foreign exchange reserves rose to $3.4422 trillion at the end of May, their highest level in...
- SAFE attributed May's increase primarily to exchange-rate valuation effects and changes in prices of global financial assets.
- China remains the world's largest holder of foreign exchange reserves, providing a key buffer against market volatility and external shocks.
Economy
UN food organization sees global cereal output falling in 2026/27
Dubai, UAE -- Global cereal production is expected to decline by 2% in the 2026/27 season to 2.982 billion tons,...
- Record 2025/26 harvests helped build global cereal inventories despite forecasts of tighter supplies in the coming season.
- Lower wheat and barley trade volumes are expected to offset stronger maize and rice shipments worldwide.
Geostrategy
Fresh Israel-Iran attacks overshadow ceasefire efforts across the region
Air raid alerts sounded across Israel, explosions were reported over Jerusalem, and Iranian state media reported blasts in Tehran, Tabriz...
- The escalation comes amid continued fighting in Lebanon, deadlocked US-Iran diplomacy and growing warnings over the conflict's economic fallout.
- Israeli strikes in southern Lebanon this week killed at least 12 people, including Lebanese army Brigadier General Wassam Sabra.
Arts & Culture
Ancient water network discovered in historic Cairo
Excavations revealed two large wells connected to an advanced water distribution system that supplied water to the citadel through waterwheels...
- Archaeologists also uncovered service facilities associated with the system, including animal pathways, storage areas, and water basins.
- In the Hattaba district, the mission discovered remains of a Mamluk-era mosque, including the mihrab, parts of the qibla area, sections of stone flooring, and several Islamic-era b
Business
Google inks multi-year AI infrastructure pact with SpaceX
Dubai, UAE -- SpaceX has signed a multi-year cloud services agreement with Alphabet's Google, securing a major customer for its...
- Google will pay $920 million monthly from October through June 2029, with reduced charges during the initial ramp-up period.
- SpaceX said the contract covers roughly 110,000 Nvidia GPUs alongside CPUs, memory and related computing infrastructure.
Geostrategy
US expands Iran sanctions as pressure campaign intensifies
The U.S. Treasury said the sanctions cover 12 entities, including companies based in the Marshall Islands, the United Arab Emirates...
- Washington also sanctioned an Iranian exchange house and associated individuals accused of facilitating billions of dollars in transactions.
- Lebanese President Joseph Aoun, meanwhile, accused Iran of using Lebanon as a bargaining chip in negotiations with the United States.
Business
Global travel firms reaffirm confidence in UAE tourism growth
Dubai, UAE --- Global travel companies and tourism industry leaders expressed confidence in the UAE's tourism sector during the "Engage...
- Elevate World launched Yara AI to support tour operators, hotels and tourism stakeholders across the wider travel ecosystem.
- Wynn Al Marjan Island updated industry partners on construction progress and international trade engagement ahead of opening.
Business
Oil steadies while gold and bitcoin extend weekly losses
Oil markets were supported by expectations that ongoing talks between the United States and Iran could help secure energy flows...
- U.S. crude remained more than 6% higher for the week despite Thursday's sharp decline on optimism over Iran talks.
- Record outflows from U.S. spot bitcoin ETFs in May accelerated cryptocurrency losses as investors shifted toward technology stocks.
Geostrategy
Hezbollah dismisses US-brokered truce, insists on comprehensive ceasefire
The Arab League, meanwhile, warned that Israeli occupation policies and military actions across Palestinian, Lebanese and Syrian territories undermine peace...
- Lebanese and Israeli envoys agreed in Washington to pilot zones under exclusive Lebanese army control despite Hezbollah opposition.
- Arab League linked regional stability to ending occupation, urging international pressure against settlement expansion and military operations.
Business
UAE property market draws global investors despite regional conflict
The UAE Property Investment Index, conducted by U.S.-based Penta Group, found that 56% of global property investors expressed serious interest...
- More than half of surveyed investors expressed serious interest in UAE property, surpassing investor interest levels in the United States.
- Indian, Egyptian and Saudi investors showed particularly strong demand, while European buyers increasingly view the UAE as a preferred overseas market.
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Emirates becomes first airline cargo carrier to deploy Boeing 777-300ERSF
Dubai, UAE -- Emirates is marking a significant milestone in the expansion of its cargo fleet by becoming the first...
Business
Company News
Latest News
Digital Dubai’s contribution lifts Dubai in global city brand rankings
DUBAI, June 22 — Digital Dubai contributed an estimated AED31 billion ($8.5 billion) to Dubai’s overall brand value, helping the...
Geostrategy
Saudi Arabia cuts US Treasury holdings by $9.5 billion in April
Dubai, UAE -- Saudi Arabia reduced its holdings of U.S. Treasury securities by $9.5 billion in April to $140.1 billion,...
Business
Dubai completes 30% of dedicated bus and taxi lanes expansion project
Dubai, UAE -- Dubai's Roads and Transport Authority (RTA) has completed 30% of a project to build 14.5 km of...
Geostrategy
Most Read
Business
Saudi tourist arrivals rise to 122.6 million in 2025, spending hits $81 billion
The growth was driven primarily by domestic travel, which reached 93.3 million tourists, up 8.3% from 2024, while inbound visitor...
- Leisure and holiday travel attracted 7 million visitors, while visits to friends and relatives totaled 4.4 million. Business travel rose 14% to 2.3 million visitors.
- Hospitality capacity expanded sharply, with licensed rooms rising 25.4% as tourism's contribution to GDP edged higher.
Geostrategy
Trump threatens Hormuz tolls as Iran keeps strait closed ahead of Switzerland talks
The developments came ahead of technical talks between U.S. and Iranian officials expected in Switzerland as both sides seek to...
- Iran links renewed Hormuz closure to continued Israeli strikes in Lebanon and questions implementation of the interim accord.
- Lebanon's state news agency NNA said Israeli strikes killed at least 20 people on Saturday.
Geostrategy
Iran closes Hormuz over Lebanon strikes as US, Iranian teams head to Switzerland
Iran's joint military command said the move was prompted by what it described as Israeli violations of the understanding reached...
- Technical discussions on implementing the interim accord are expected in Switzerland amid mounting regional tensions and uncertainty.
- Lebanon's health ministry said the death toll since the latest Israel-Hezbollah conflict erupted on March 2 had reached 4,057.