Search Site

Trends banner

‘Wadeem’ sold out for $1.49bn

This is the highest Abu Dhabi real-estate release to date.

Tesla Q2 sales down 13.5%

Shares rally after the disclosure, better than some forecasts.

TomTom cuts 300 jobs

The firm said it was realigning its organization as it embraces AI.

Aldar nets $953m in sales at Fahid

Aldar said 42 percent of the buyers are under the age of 45.

Qualcomm to Alphawave for $2.4 bn

The deal makes Alphawave the latest tech company to depart London.

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.

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.

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

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

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.

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.

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.

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.

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.

Airlines suspend or reduce flights in Middle East after Iran strikes

British Airways cancelled flights between London's Heathrow Airport and Dubai and Doha on Sunday following the US strikes on Iran....

Latest News

Biden, Kadhemi meeting to focus on US troop withdrawal from Iraq

The White House talks between the two allies come just a week after a deadly attack claimed by the Islamic...

Qatar takes key step to control own airspace

Qatar said on Tuesday that it has been given a preliminary green light by a UN body on a proposal...

Dubai authorities probe Jebel Ali Port blast

Dubai authorities were Thursday investigating an explosion on a container ship carrying flammable materials which unleashed a fireball at one...

UAE consumers prefer online motor insurance

74% of the customers buy car insurance online in the UAE More than 90% of the consumers review car insurance...

Saudi suspends UAE flights due to virus variant

Saudi Arabia has suspended flights to three countries, including the neighbouring United Arab Emirates, to protect against a coronavirus variant,...

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...

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...

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)...

Most Read

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.

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.

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.