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...
Geostrategy
MENA Outlook: Diversification, AI, and economic integration take centre stage
As the region pivots toward a post-oil future, recent developments across the Middle East and North Africa suggest an accelerating...
Economy
Business
Borouge 2024 net profit $1.24bn
The company said it will maintain a $1.3bn dividend for 2025.
- EBITDA climbed 14 percent year-on-year to $2.48 billion, driven by a 4 percent year-on-year revenue increase to $6 billion.
- Sales volumes reached their highest-ever level of 5.3 million tonnes, supported by strategic positioning in high-growth markets across Asia, the Middle East and Africa.
Business
ADQ, Orion to establish JV
The partners commit to deploying $1.2bn in the next four years.
- The JV will make strategic investments in the metals and mining sector to enhance supply chain security locally and globally.
- The joint venture will invest in a diverse range of metals and minerals in various geographies, focusing initially on emerging markets in Africa, Asia and Latin America.
Business
Alpha Dhabi acquires interest in NCTH
The deal increases NCTH's portfolio to 8 hotels with 1,500 keys.
- It acquired the 73.73% controlling interest after selling assets from Alpha Dhabi Hospitality Holding and Murban Energy Limited to NCTH in exchange for shares.
- The deal Alpha Dhabi Holding’s investment in the domestic and international luxury hospitality sector and involves the transfer of four key hotel assets.
Business
Meraas awards construction contract
The $272m contract has been awarded for Bluewaters Bay.
- The contract is aimed at creating Dubai’s next iconic waterfront destination, with completion scheduled for Q4 2027, the company said.
- Bluewaters Bay will feature two residential towers linked by a dynamic podium, offering 678 apartments, ranging from one to four bedrooms, including penthouses.
World Economic Forum
Fourth Industrial Revolution centers announced for Riyadh, Muscat, Pretoria
Davos, Switzerland -- The World Economic Forum (WEF) has announced signing agreements for three new Centers for the Fourth Industrial...
- The upcoming centers in Muscat, Pretoria, and Riyadh will tackle critical global challenges with innovative solutions tailored to national and regional needs.
- Additionally, the WEF announced that the C4IR United Arab Emirates has been renewed.
2025 IT Security Predictions
Cloudflare, a leading connectivity cloud company recently published an Op-Ed by Grant Bourzikas, CSO, tackling IT security predictions for 2025
- Hyper-focus on “digital transformation” over the past few years has left security in the dark
- As disinformation continues to plague society, it will begin to trickle into AI models
GCC equity markets ended 2024 in positive territory
Five of seven GCC equity market indices under coverage ended 2024 on the rise, according to an in-depth report on GCC equity...
- DFM led its peers, wrapping up 2024 with an annual rise of 27 percent
- GCC traded values rose at an annualized rate of about 29 percent in 2024,
Geostrategy
18 Palestinians killed in Israeli strikes on northern, southern Gaza
Palestinian news agency (WAFA) reported that eight Palestinians were killed, and others were injured in an airstrike by the Israeli...
- In Khan Younis, in southern Gaza Strip, six Palestinians were killed, and others were injured in an airstrike by the Israeli forces targeting a building in the city center.
- Moreover, three Palestinians, including a woman, were injured when Israeli aircraft bombed a school sheltering displaced people northwest of Nuseirat in central Gaza Strip.
Business
NDMC arranges $2.5bn credit facility
The Shariah-compliant facility spans a tenure of three years.
- It is aimed at financing the general budgetary needs and was secured with the participation of three regional and international financial institutions.
- The arrangement of these credit facilities aligns with the Kingdom's medium-term public debt strategy, aimed at diversifying funding channels.
Business
Abu Dhabi’s Hub71 startups secure $1.90 billion in funding, says CEO
Abu Dhabi, UAE -- Startups within Hub71, Abu Dhabi's global tech ecosystem, have secured over AED 7 billion in funding,...
- The ecosystem is now hosts over 300 startups from around the world and has forged 150 partnerships to support these companies in attracting investments.
- Ahmad Ali Alwan, CEO of Hub71, said it has received over 2,500 applications for its programmes.
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...
Geostrategy
Company News
Latest News
Emirates Islamic Q1 profit $394m
Business
Etihad unveils new A321LR aircraft
A321LR features First Suite - a private, enclosed space with a sliding door.
Business
Most Read
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