MENA Brief: Key Geopolitical, Defence, and Innovation Updates – June 11, 2025
Regional tensions, high-stakes defence deals, and new innovation-led collaborations defined the Middle East and North Africa landscape on Wednesday. Here’s...
Analysis
IMF upgrades Saudi real GDP growth forecast to 6% in 2025, up from
Riyadh, Saudi Arabia -- The International Monetary Fund (IMF) has revised upwards its forecast for Saudi Arabia's economic growth to...
Economy
Business
Al Seer Marine orders 4 new tankers
South Korea's K Shipbuilding will deliver the tankers in 2024.
- K Shipbuilding will construct the medium-range (MR) IMO II/III product tankers at Jinhae Shipyard.
- With these four tankers, Al Seer Marine fleet now totals 12 vessels as the company prepares to transport the transition fuels like methanol.
Business
AD Ports Group records 77% growth in Q3
The company's EBITDA increased 52 percent YoY to $162 million.
- Ports Cluster revenue grew 18 percent YoY on a like-for-like basis when adjusted for the positive effect of a one-off sand supply contract in 2021
- AD Ports Group CapEx investment rose to $0.43 billion in Q3 2022 and $1.14 billion in 9M 2022
Geostrategy
Saudi Crown Prince and PM arrives in Indonesia for G20 summit
Bali, Indonesia— Crown Prince and Prime Minister of Saudi Arabia, Mohammed bin Salman, has arrived in Indonesia to take part...
- The crown prince met with French President Emmanuel Macron, Turkish President Recep Tayyip Erdogan and other leaders on the sidelines of the G20 summit
- The 17th edition of the G20 Summit will extensively focus on key issues of global concern under the theme of ‘Recover Together, Recover Stronger’
Arts & Culture
European Film Festival commences at Haya Cultural Center in Amman
Amman, Jordan— Intended to open up a space for intercultural cooperation, the 34th edition of the European Film Festival (EUFF)...
- Hadjitheodosiou said cultural diversity is an integral part of the values of the European Union
- She lauded Jordan's role in promoting cultural appreciation and understanding, protecting diversity and cultural heritage
Geostrategy
It’s time to create and support Climate Solidarity Pact
Proposing the creation of a Climate Solidarity Pact, bringing together developed and emerging economies to combine resources and capacities to...
- G20 can play an important role in resolving global crises, says UN Secretary-General António Guterres ahead of the event in Bali, Indonesia
- Guterres urges the bloc to support his initiatives to address climate change, sustainable development, the worldwide food and energy crises, and digital transformation
Geostrategy
UAE urges global efforts for trade at B20 Summit in Indonesia
BALI, INDONESIA - Speaking at the B20 Summit in Bali, Indonesia, Minister of State for Foreign Trade Dr. Thani bin...
- The UAE is working to help the global economy overcome current and future challenges.
- The economy of the future will be based on knowledge and innovation.
Economy
Bahrain made the highest rate hike in GCC region
Many Gulf states, including the region's two biggest economies, raised key interest rates earlier this month after the US Fed...
- The Fed raised the rate by three-quarters of a percentage point for the fourth straight time.
- The impact of higher interest rates among Gulf oil exporters in 2022 has so far been limited.
Business
Emaar 9M revenue at US$5.1bn
Robust property sales helped firm enhance revenue.
- Emaar said that EBITDA in 9M 2022 increased by 47 percent to US$ 2.3 billion
- The property giant said net profit in 9M 2022 increased by 124 percent to US$ 1.6billion.
Business
ADNOC Drilling 9M net profit $568m
Onshore revenue for the period was $1.074 bn, up 25% YoY.
- The third quarter revenue was $372 million, up 33 percent year-on-year.
- Offshore revenue for the nine-month period was $431 million, broadly flat versus the prior year.
Business
UAE capital records real estate deals worth $5.72 billion in third quarter
Abu Dhabi, UAE--- Abu Dhabi's real estate market recorded a total of 4,441 transactions amounting to over AED 21.04 billion...
- Department of Municipalities and Transport said the emirate recorded 1,995 real estate sales worth AED 5.39 billion, and 2,446 mortgage transactions worth AED 15.64 billion.
- Yas Island topped the list logging transactions worth AED 1 billion, while Al Saadiyat Island coming in second with transactions worth AED 929 million.
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MENA Brief: Key Geopolitical, Defence, and Innovation Updates – June 11, 2025
Regional tensions, high-stakes defence deals, and new innovation-led collaborations defined the Middle East and North Africa landscape on Wednesday. Here’s...
Analysis
Company News
Maaden posts net loss in Q3
Business
NMDC, AD Ports Group ink MoU
Business
Latest News
stc Group posts 9-month revenue
Business
Arab Bank posts net profit
Business
136 UN employees killed in Gaza War, says UN chief
NEW YORK, US - UN Secretary-General Antonio Guterres said on Sunday that 136 United Nations employees in Gaza Strip had...
Geostrategy
Oman to expand production of green hydrogen to boost non-oil economy
Hong Kong - The government of Oman’s targets to expand local green hydrogen production could support key credit metrics, such as...
Business
UAE best performing economy in Arab region, says Arab Monetary Fund
Abu Dhabi, UAE - The United Arab Emirates was named the most economically competitive nation in the Arab world, a...
Economy
Most Read
Geostrategy
UN adopts Qatar-sponsored resolution on human rights training center
New York, USA - The UN General Assembly (UNGA) adopted a resolution by 185 votes on 'The UN Human Rights...
- Qatar sponsored and facilitated negotiations every two years since its establishment in 2008, with its headquarters in Doha
- In its resolution, the General Assembly reaffirms the role of regional cooperation in promoting and protecting human rights
Arts & Culture
Sharjah’s ‘Mleiha’ and ‘Al Dhaid’ added to Islamic World Heritage
Sharjah, UAE - The Islamic World Heritage Committee of the Islamic World Educational, Scientific and Cultural Organization (ISESCO) added the...
- The Sharjah Archaeology Authority (SAA) has completed the nomination dossier of the Mleiha archaeological site titled "Mleiha: The Pre-Islamic Period in Southeast Arabia"
- The nomination highlights the historical and archaeological value of Mleiha and its archaeological and architectural elements that were unearthed during continuous excavations
Business
Bayanat, Yahsat to merge
It will benefit from revenue synergies, economies of scale.
- The merger will create an AI-powered space technology champion in the MENA region with an implied market capitalization of over US$4 billion.
- The combined entity will be vertically integrated and optimally positioned to capture regional, global opportunities in geospatial and mobility solutions.