US launches ninth wave of strikes on Iran after death of another soldier
Iran's Revolutionary Guards said they had struck several U.S. military targets in Kuwait, including what they described as an early-warning...
Geostrategy
Riyadh Air adds five routes as first Dreamliners arrive
The expansion marks an early test of Saudi Arabia's ambition to build Riyadh into a major international aviation hub.
Business
Geostrategy
Two-State solution nearing point of no return: UN chief
He renewed calls for an immediate and lasting ceasefire, the unconditional release of all hostages, and full humanitarian access. He...
- Guterres expressed deep concern over the worsening crisis in Gaza, where nearly 2,000 Palestinians have been killed since the ceasefire collapsed in March
- He renewed calls for an immediate and lasting ceasefire, the unconditional release of all hostages, and full humanitarian access
Business
Etihad unveils new A321LR aircraft
A321LR features First Suite - a private, enclosed space with a sliding door.
- The airline highlighted the aircraft's enhanced guest experience, including a first-class offering typically found on larger planes.
- The aircraft features new First Suites with sliding doors and lie-flat beds, 14 lie-flat business-class seats with direct aisle access, and upgraded economy seating.
Business
SAIB reports $139 million Q1 net profit
its assets increased by 20.08 percent to $43.65bn.
- The profit growth was driven by a 4.7% year-on-year (YoY) hike in the first-quarter net special commission income, mainly due to higher returns from financing and investment
- Its clients' deposits were valued at SAR 101.66 billion, which is 14.96 percent higher than SAR 88.43 billion a year ago.
Business
Emirates Islamic Q1 profit $394m
The bank's profit crossed AED 1bn mark for the first time.
- Total income rose 8 percent year-on-year to AED1.45 billion ($394 million) in Q1 2025.
- Operating profit increased by 5 percent compared to Q1 2024, while the net profit margin remained robust at 3.85 percent.
Business
Bank credit to Saudi public and private sectors up by $105 billion: SAMA
Riyadh, Saudi Arabia -- Total bank credit granted to the public and private sectors in Saudi Arabia reached its highest...
- Total bank credit recorded a monthly growth of 1.2%, increasing by SAR 37.035 billion compared to last Jan, when it stood at SAR 3.005 trillion.
- The bank credit granted to the public and private sectors was distributed across more than 17 diverse economic activities.
Travel and tourism sector contributes 11.4 percent to Gulf’s GDP
Muscat, Oman -- Travel and tourism sector's contribution to the Gulf's GDP by the end of 2024 reached approximately 11.4 percent,...
- The growth rate of the sector's contribution to the Gulf's GDP increased by approximately 31.9 percent compared to the figures recorded in 2019.
- Statistical Centre for the Cooperation Council for the Arab Countries of the Gulf GCC-Stat said the sector's contribution to the global GDP in 2024 amounted to 2.2 percent.
Business
Ajman real estate transactions reach $560 million in March
Ajman, UAE -- Real estate transactions in Ajman reached AED 2.06 billion ($560 million) in March 2025, marking a significant...
- Omar bin Omair Al Muhairi, Director-General of the Ajman's Department of Land and Real Estate Regulation, said the emirate recorded 1,025 real estate transactions in March.
- Al Muhairi noted that Ajman's real estate market continues to show strong momentum, consistently achieving record figures.
Economy
Trump’s tariffs shake up MENA economies, hitting allies, adversaries, oil trade and emerging industries: Report
Trump's sweeping tariffs are reshaping trade dynamics across MENA, impacting oil-exporting Gulf nations like Saudi Arabia, UAE and Qatar, according...
- Gulf oil producers face indirect hits as tariff fears lower global oil demand and prices
- Small businesses across MENA confront rising costs, disrupted supply chains, and uncertainty
Business
UAE tourism generates $12.24bn in hotel revenues in 2024: Minister
Abu Dhabi, UAE -- Hotel revenues in the UAE reached approximately AED 45 billion ( $12.24 billion) in 2024, reflecting...
- Hotel occupancy rates also climbed to 78 percent last year, ranking among the highest both regionally and globally.
- The minister said that the number of hotel guests across the UAE reached approximately 30.8 million in 2024, reflecting a 9.5 percent growth.
Business
Abu Dhabi’s non-oil foreign trade grows by 9% in 2024 to $83bn
Abu Dhabi, UAE -- Abu Dhabi Customs reported a 9 percent increase in the emirate’s non-oil foreign trade in 2024,...
- Non-oil exports soared 16 percent in 2024, reaching AED 107.8 billion compared to AED 93 billion in 2023.
- Re-exports grew by 11 percent to exceed AED 58 billion, compared to AED 52.4 billion in 2023, while imports grew by 3 percent to AED 140.2 billion.
US launches ninth wave of strikes on Iran after death of another soldier
Iran's Revolutionary Guards said they had struck several U.S. military targets in Kuwait, including what they described as an early-warning...
Geostrategy
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Who has been invited to be on Trump’s Gaza boards?
The White House said there would be a main board, chaired by Trump himself, a Palestinian committee of technocrats meant...
Geostrategy
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...
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,...
Economy
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Business
GCC countries attract $523.4bn in foreign investment in 2023
Muscat, Oman -- The GCC countries have seen a steady rise in foreign investment, according to data from the Statistical...
- Intra-GCC investments rise to $130 billion, aided by infrastructure, technology improvements, and modern legislation boosting regional business attractiveness.
- Capital markets grow to $4.2 trillion as corporate profits improve and institutional investments continue despite global economic uncertainties.
Geostrategy
Riyadh, Washington seal major defense agreement amid Saudi push for two-state roadmap before Israel normalization
Saudi Crown Prince said that his kingdom wanted to normalize relations with Israel through US President Donald Trump's Abraham Accords,...
- The agreement comes within the framework of the long-standing strategic partnership and the deep-rooted ties that have united the two countries for more than ninety years
- It affirms that Saudi Arabia and the United States are capable security partners, able to work together to confront regional and international challenges and threats.
Business
Emirates orders 65 more Boeing 777X planes despite delays
Dubai, UAE -- Emirates, the Middle East's biggest airline, topped up its order of Boeing 777X planes on Monday despite...
- The order of 65 777-9s, valued at $38nn including engines, came despite last month's announcement that delivery was now due in 2027 -- seven years behind the original schedule.
- Emirates, already the biggest customer for the Boeing 777, now has 270 777X, 10 777 freighters and 35 Boeing 787s on order.