Sharjah real estate deals jump 62 percent in July
Dubai, UAE -- Real estate transactions in Sharjah rose 61.8 percent in July from the previous month to AED7 billion...
Business
UAE non-oil trade reaches record $527 billion in H1, says Al Zeyoudi
The milestone reflected the success of the UAE's strategy to build a diversified, competitive and open economy while strengthening its...
Economy
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...
- This momentum is part of a wider growth trajectory, with 726 projects currently under construction across the emirate.
- Dubai’s real estate market registered 90,337 new real estate units during the first half of the year.
Business
Borouge Q2 net profit $193m
The H1 revenue stood at $2.72 billion.
- Adjusted EBITDA for the second quarter was $440 million.
- The company has proposed an increased minimum interim dividend of 8.1 fils per share for H1.
Business
Saudi Arabia’s real GDP up by 3.9 percent in Q2 2025: GASTAT
Riyadh, Saudi Arabia -- Saudi Arabia's real Gross Domestic Product (GDP) grew by 3.9 percent in the second quarter of...
- Flash estimates of GDP for Q2 say non-oil activities recorded the highest growth at 4.7 percent.
- The estimates, released by GASTAT, said oil activities grew by 3.8 percent and government activities at 0.6 percent.
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.
Economy
GCC countries record $587.8 billion in nominal GDP by end of Q4 2024
Muscat, Oman -- The nominal Gross Domestic Product (GDP) of the Gulf Cooperation Council (GCC) countries reached US$587.8 billion by...
- The contribution of non-oil activities to the GCC's nominal GDP reached 77.9 percent by the end of the fourth quarter of 2024,
- The manufacturing sector contributed 12.5 percent to the GDP, while wholesale and retail trade accounted for 9.9 percent.
Business
DP World mobilizes $1 billion in working capital to boost trade flow
Dubai, UAE — DP World Trade Finance has mobilized more than US$1 billion in working capital to support businesses across...
- This was achieved through a combination of DP World’s own lending operations and partnerships with over 32 global financial institutions.
- DP World Trade Finance has enabled trade across Africa, the Americas, Asia, and Europe, supporting sectors such as agriculture, metals, automotive, and engineering.
Business
ADIB H1 pre-tax profit $1.08bn
Q2 pre-tax net profit increases by 14 percent.
- Total income for H1 2025 rose 11 percent to AED5.9 billion, up from AED5.3 billion in H1 2024.
- Non-funding income rose 15 percent year-on-year to AED2.3 billion in H1 2025, up from AED2 billion in the prior-year period.
Business
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...
- The service connects the port to to five regional and international ports: Ningbo, Shanghai, and Nansha in China; Aqaba in Jordan; and Ain Sokhna in Egypt.
- This move is part of Mawani's efforts to improve the Kingdom's ranking in global performance indicators and support national export activity.
Sharjah real estate deals jump 62 percent in July
Dubai, UAE -- Real estate transactions in Sharjah rose 61.8 percent in July from the previous month to AED7 billion...
Business
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US-Iran talks set for Geneva amid military buildup
The renewed diplomacy comes as Washington has deployed two aircraft carriers, additional jets and ships, and reinforced air defenses across...
Geostrategy
Israel plans ‘Hexagon Alliance’ in Mediterranean, Middle East to counter hostile regional blocs
Speaking ahead of the weekly cabinet meeting, Netanyahu outlined a plan to establish what he called a “hexagon alliance system”...
Geostrategy
Arab Parliament, Muslim nations slam Huckabee’s Middle East remarks
Mohammed bin Ahmed Al Yamahi, Speaker of the Arab Parliament, stressed that any talk of control over the occupied Palestinian...
Geostrategy
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Geostrategy
Trump launches Gaza ‘Board of Peace’ with $10 billion pledge, outlines vague ambitions
Speaking in Washington before representatives from nearly 50 countries, Trump said nine member states had committed more than $7 billion...
- Five countries — Indonesia, Morocco, Kazakhstan, Kosovo and Albania — have committed troops to a proposed International Stabilization Force (ISF) for Gaza.
- Indonesia, the world’s largest Muslim-majority country, has offered to send up to 8,000 troops and take a deputy commander role in the force.
Geostrategy
Israeli strikes kill 12 Palestinians in Gaza amid measures to ‘annex’ more West Bank land
Palestinian officials described the Israeli parliament's decision related to West Bank land as a “serious escalation,” while armed groups and...
- Several governments have renewed warnings that unilateral annexation or settlement expansion would violate international law and risk further destabilizing the region.
- The latest Gaza killings also comes as indirect negotiations and mediation efforts have struggled to gain traction.
Geostrategy
Geneva talks loom as Trump backs regime change and redeploys second US carrier
The Pentagon confirmed that the USS Gerald R. Ford is being moved from the Caribbean toward the Middle East, a...
- The addition of a second carrier significantly expands US air power, surveillance capability and rapid strike options in the Gulf and surrounding waters.
- Gulf states, long wary of escalation between Washington and Tehran, have urged restraint while quietly bolstering their own security postures.