Saudi Arabia, UAE rank among top 20 nations globally for AI talent density
With the goal of becoming one of the world’s top 10 countries in AI research and application by 2030, Saudi...
Economy
Mawani adds FRS1 shipping service to Jeddah Islamic Port
Jeddah, Saudi Arabia -- The Saudi Ports Authority (Mawani) has added CStar Line's new Far East-Red Sea service (FRS1) to...
Business
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
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
Saudi Arabia, UAE rank among top 20 nations globally for AI talent density
With the goal of becoming one of the world’s top 10 countries in AI research and application by 2030, Saudi...
Economy
Company News
SIB H1 net profit $189m
Business
Latest News
Saudi chocolate industry booms with over 3,500 commercial records
Riyadh, Saudi Arabia -- On the World Chocolate Day, Saudi Arabia's Ministry of Commerce announced that the total number of...
Business
Iran voices ‘serious doubts’ over Israel’s commitments, including the ceasefire
Iran also writes to the UN chief to recognize the Israeli regime and the United States as the "initiators of...
Geostrategy
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....
Geostrategy
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Economy
MENA Brief – June 16: Netanyahu eyes Gaza breakthrough, Iran rejects talks, Trump at G7, UAE oil giant bids big
Israeli Prime Minister Benjamin Netanyahu says there’s a fresh opening to free hostages held in Gaza, backing a US-mediated proposal...
- In major energy news, Abu Dhabi’s state-owned oil company has launched an $18.7 billion takeover bid for Australia’s Santos, offering a 28% premium
- The UAE’s economic momentum remains strong: its GDP grew 4% in 2024 to AED1.77 trillion, driven by a 5% rise in non-oil sectors
Geostrategy
MENA Brief June 14: Iran-Israel War, Abu Dhabi Summit, Saudi Football Rise, & More
Tensions spiked as Iran fired ballistic missiles at Israel in retaliation for Israeli air raids that killed senior Iranian military...
- Tensions spiked as Iran fired ballistic missiles at Israel in retaliation for Israeli air raids that killed senior Iranian military leaders and hit nuclear sites
- French President Emmanuel Macron confirmed that the planned UN conference on a two-state solution in New York has been delayed due to security and logistical concerns
Analysis
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...
- Turkey announced a landmark agreement to supply 48 domestically produced KAAN fifth-generation fighter jets to Indonesia
- Kuwait announced that expatriates working in the private sector will now require employer consent to leave the country