Tesla proposes package for Musk that could top $1 trillion
New York, United States -- Tesla unveiled on Friday a proposed compensation package for Elon Musk that could top $1...Business
Global bond selloff spreads to Japan, gold hits record high
Wall Street stocks opened mostly higher, with shares in Google parent-company Alphabet shooting up nearly seven percent after winning a...Business 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...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.
Dubai real estate transactions exceed $117.34 billion in first half of 2025
The number of new investors in the market reached 59,075, with investments totaling $42.74 billion, a 22 percent increase in...According to data issued by the Dubai Land Department, the number of real estate transactions reached 125,538, up from 99,947 during the same period in 2024, an increase of 26%.
Women played a pivotal role in driving market activity, investing AED73.2 billion during this period with 34,792 transactions made by 30,487 female investors.
UAB net profit up by 50% for H1
Total assets increase by 11 percent.Total income rose by 24 percent YoY to AED 374 million.
The increase in net profit reflects significant growth in total assets—up 11 percent from December 2024—and the Bank’s disciplined approach to risk management.
Ajman’s real estate sector deals up 37% in H1 to hit $3.37bn
Ajman, UAE -- The real estate sector in the Emirate of Ajman recorded real estate transactions worth AED 12.4 billion...Sheikh Abdulaziz bin Humaid Al Nuaimi, Chairman of the Department of Land and Real Estate Regulation in Ajman, stated the sector plays a pivotal role in the emirate's growth.
He said the H1 results indicated a rising demand for properties and confirm the emirate’s attractiveness to investors and its strong competitive edge.
G20 nations agree central bank independence ‘crucial’
The statement came after months of escalating attacks by US President Donald Trump on Federal Reserve boss Jerome Powell. The...This week he suggested he could be dismissed for "fraud" over his handling of a renovation project at the Federal Reserve headquarters.
The G20 is made up of 19 nations and two regional organizations and its members account for more than 80 percent of the world's economic output.
Gulf Air orders 12 Boeing 787 Dreamliners for $4.6 billion
San Francisco, United States -- US aviation giant Boeing on Thursday signed a contract worth billions of dollars to sell...The order comes one month after an Air India Boeing 787 crashed shortly after takeoff, killing a total of 260 people on the plane and on the ground.
Boeing delivered 150 commercial aircraft in the second quarter, its highest number of deliveries in that quarter since 2018.
Global markets rise as Trump weighs future of Fed boss
US indices were near record highs two hours into the Wall Street session with all eyes on an incoming earnings...The rises came on the back of a better-than-expected US retail sales report and a round of mostly solid corporate earnings.
Market observers have been carefully watching reports that US President Donald Trump, fresh from unveiling new tariff threats, could sack Powell.
TSMC Q2 profit up 60%
TSMC is the world's largest contract maker of chips.The firm said its net profit for the three months to June soared 60.7 percent from a year ago to NT$398.3 billion (US$13.5 billion).
That beat expectations of NT$376.97 billion, according to a Bloomberg News survey of analysts.
Coca-Cola agrees to use real cane sugar in its US production
Washington, United States - Beverage giant Coca-Cola has agreed to use real cane sugar in its US production, President Donald...The company currently uses high-fructose corn syrup (HFCS) in its domestic beverages - a sweetener that has long drawn criticism from Health Secretary Robert F. Kennedy Jr.
"I have been speaking to Coca-Cola about using REAL Cane Sugar in Coke in the United States, and they have agreed to do so," Trump wrote on his Truth Social platform
ADNOC shifts OMV stake to XRG
XRG is ADNOC's wholly-owned international investment company.This transfer, which is subject to regulatory approvals, is aligned with ADNOC’s strategy to consolidate its international growth investments under XRG.
ADNOC is also progressing with preparation for the proposed establishment of Borouge Group International, which is set to be a top-four global polyolefins producer.
