Global passenger demand grows 4% in July: IATA
GENEVA, 31st August 2025 (WAM) -- The International Air Transport Association (IATA) said Sunday that global passenger demand grew by...
Business
Ajman records real-estate deals worth $381 million in July
Ajman, UAE -- Real estate transactions valued at AED 1.48 billion ($381 million) were recorded in Ajman in July 2025....
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
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.
Global passenger demand grows 4% in July: IATA
GENEVA, 31st August 2025 (WAM) -- The International Air Transport Association (IATA) said Sunday that global passenger demand grew by...
Business
Company News
TAQA H1 net income $1bn
Business
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Borouge Q2 net profit $193m
Business
Neo Space Group launches Saudi Arabia’s first earth observation marketplace
Riyadh, Saudi Arabia -- Neo Space Group (NSG), a Public Investment Fund (PIF) company, has announced the launch of the...
Business
24 Dubai real-estate projects worth $1.22bn completed in H1
Dubai, UAE -- The first half of 2025 saw the completion of 24 real estate projects valued at AED 4.5...
Business
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Business
ADNOC Drilling H1 revenue $2.37bn
The company posted a net profit of $692m.
- The company's Board of Directors approved the $217 million (approx. 5 fils per share) second quarterly dividend for 2025.
- The dividends are expected to be paid in the second half of August 2025 to all shareholders of record as of 8th August 2025.
Economy
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...
- King Abdullah University of Science and Technology (KAUST) enters top 150 universities globally for producing AI talent, becoming the highest-ranked university in Middle East
- Saudi Arabia offers some of the most competitive compensation packages for AI talent globally, with top scientists earning a median annual salary of USD 420,000, tax-free
Business
DIFC records 25 percent rise in registered firms in H1 2025
Dubai, UAE -- Dubai International Financial Centre (DIFC), the leading global financial center in the Middle East, Africa and South...
- The total number of active registered companies reached 7,700, up from 6,153 in H1 2024 - a 25 percent year-on-year increase.
- The number of professionals working in DIFC rose to 47,901, marking a significant 9 percent increase from 43,787 a year earlier.