Houthis strike Saudi oil tankers as Iran stops passage of three ships in Hormuz
The latest attack comes after US President Donald Trump warned that Washington would strike Iran's civilian infrastructure, including bridges and...
Geostrategy
Dubai to award $15bn of Al Maktoum Airport projects by end-2026
Dubai, UAE -- Dubai plans to award strategic contracts worth more than AED55 billion ($15 billion) for the expansion of...
Business
Economy
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...
- This adjustment from earlier estimates reflects the impact of extended oil production cuts and a slower-than-expected rebound in oil output.
- The IMF anticipates that inflation will remain contained, with an average annual rate holding steady at 2.1 percent in 2025 and easing slightly to 2 percent the following year.
Geostrategy
New WEF report reveals how tech convergence will reshape industries
Geneva, Switzerland – The World Economic Forum today released a new report examining how emerging technology combinations are reshaping industries...
- AI is a key enabler, making many emerging tech synergies commercially viable across industries.
- Digital twins, enhanced by AI and sensors, are expanding efficiency in sectors from aerospace to healthcare.
Business
Cross-border deals fuel M&A surge in MENA region in Q1 2025
Dubai, UAE -- The Middle East and North Africa (MENA) region has kicked off 2025 with a remarkable surge in...
- Cross-border deals were the primary engine behind this growth, accounting for 52 percent of the total deal volume (117 deals) and 81% of the total deal value ($37.3bn).
- The UAE cemented its position as the top target country for M&A activity in Q1 2025, attracting 63 deals totaling a substantial $20.3 billion.
Geostrategy
With AI and more shade, Saudi Arabia set for a searing hajj
Riyadh, Saudi Arabia -- With artificial intelligence, more shade and misting machines, Saudi authorities are preparing to welcome more than...
- Saudi Arabia's hajj minister Tawfiq al-Rabiah told AFP on Thursday that efforts to mitigate the searing desert heat remained a top focus among authorities.
- This year, Rabiah said authorities have mobilized more than 40 government agencies and 250,000 officials and doubled their efforts to mitigate heat-related risks.
Business
Dubai Airport tops air connectivity ranking for Asia-Pacific and Middle East
Dubai, UAE - Dubai International Airport (DXB) has once again secured the top spot in the Airports Council International’s (ACI)...
- Paul Griffiths, CEO of Dubai Airports, hailed the recognition as a testament to the airport’s strategic importance in global aviation
- Griffiths highlighted that DXB’s strength lies not only in the scale of its operations but also in the reliability and quality of its services
Business
Saudi Arabia unveils ‘Colour Your Summer’ program, targeting 41 million visitors
Riyadh, Saudi Arabia -- Saudi Arabia's tourism sector is poised for an unprecedented summer season, with the official launch of...
- It brings together over 120 partners from across Saudi Arabia's tourism ecosystem, including both public and private sectors, to offer an unparalleled array of experiences.
- Major events include the highly anticipated Esports World Cup (EWC) in Riyadh from July to August, alongside dynamic Jeddah and Aseer Seasons.
Business
ADNOC Drilling secures $1.15bn contract
The contract for two jack-up rigs begins in the second quarter.
- The rigs are expected to commence operations around the end of 2Q 2025, delivering revenue in the second half of 2025 onwards.
- This award further de-risks and reaffirms ADNOC Drilling’s current 2025 and medium-term guidance, the company said.
Business
World’s longest diamond necklace set to break Guinness record at Sharjah show
Sharjah, UAE – Exhibitors at the 55th Watch and Jewelry Middle East Show, scheduled from May 28 to June 1,...
- The piece incorporates more than 600 lab-grown diamonds, precisely set in 18-karat rose gold, representing a fusion of luxury aesthetics and cutting-edge production techniques.
- The official Guinness assessment is set to take place on the first day of the 55th Watch and Jewelry Middle East Show.
Business
ADNOC’s listed companies post over $2.3 billion net profit in first quarter
Abu Dhabi, UAE -- ADNOC Group's publicly traded portfolio companies combined to deliver over $2.3 billion (AED8.4 billion) in first...
- ADNOC Distribution delivered first quarter net profit of $174 million (AEDAED639 million), up 16 percent year-on-year.
- Borouge reported strong Q1 2025 results with net profit of $281 million, driven by year-on-year increases of 10 percent for sales volumes and 7 percent for production volumes.
Economy
Massive GCC infrastructure investments set stage for rising foreign equity: Franklin Templeton
The Franklin Templeton Emerging Markets Equity outlook emphasizes how GCC countries have reduced their dependence on oil and gas, opened...
- The FTEME outlook emphasizes how GCC countries have reduced their dependence on oil and gas, opened their capital markets, and diversified their economies
- The report highlights a striking decline in the equity risk premium (ERP) in the GCC — from 6.6% in 2016 to 2.4% by March 2025
Houthis strike Saudi oil tankers as Iran stops passage of three ships in Hormuz
The latest attack comes after US President Donald Trump warned that Washington would strike Iran's civilian infrastructure, including bridges and...
Geostrategy
Company News
Latest News
The GCC must deploy its ‘strategic advantages’ to lead the transition
The models that once governed aid, CSR, employment, and economic engagement are shifting, and the GCC has an opportunity to...
Opinion
How Sensodyne’s 5th Sense is turning oral care into experience
Haleon delivers better everyday health with humanity, as Sensodyne drives trusted innovation through The 5th Sense, Murtaza Mahfouz tells TRENDS
To build a knowledge economy, the GCC must bet on its young minds
In Saudi Arabia, more than 60 percent of the population is under 30, and across the GCC, over 50 percent...
Opinion
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Economy
Global economy set for “sturdy growth” in 2026, MENA growth to outpace global economy
The Middle East and North Africa region is expected to outperform the global economy in 2026, with GDP projected to...
- Goldman Sachs Research has projected that the world economy will expand faster than widely expected next year, saying its economists expect sturdy global growth of 2.8%
- The Middle East and North Africa region is expected to outperform the global economy in 2026, with GDP projected to grow by 3.6% year on year compared to global growth of 3.1%
Economy
MENA emerges as fast-growing global e-trading hub, UAE leads with over half-trillion dollars in volume
The Middle East and North Africa (MENA) region is rapidly becoming one of the world’s most dynamic retail e-trading markets,...
- The study, Trading’s New Horizon: How Access, Innovation and Ambition Are Fuelling MENA’s E-Trading Boom, draws on two years of data from 62,850 verified traders across the region
- The report notes that MENA traders are young, digitally savvy and highly educated, and nearly 86% are aged 18–44, and 64% hold a university degree—far higher than Europe’s 39%
Business
UAE’s AI Office announces Google Gemini as top model in ‘AI in the Ring’ Index
Dubai, UAE - The UAE’s Artificial Intelligence, Digital Economy, and Remote Work Applications Office announced that Google Gemini has ranked...
- Gemini earned the top ranking following a review of over 400 questions and 5,200 generated responses from 11 major language models
- A Committee of Emirati experts evaluated the outputs to identify which models demonstrated the strongest cultural understanding