Global markets rise as Trump weighs future of Fed boss

• 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%

• 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

• 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

• 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.

China’s Baidu to deploy driverless cars on Uber

• Uber users in these locations may have the option of choosing to ride in a fully driverless Apollo Go car after they request a trip.
• Driverless taxis are already on the roads with limited capacity in China, most notably in the central city of Wuhan.

Saudi leads MENA in VC funding for H1, surpassing 2024’s full-year total

• Saudi Arabia's H1 VC share is 56 percent of the total capital deployed in the region.
• The report also revealed that Saudi Arabia achieved a record number of 114 VC deals for the first half of 2025.

SIB H1 net profit $189m

Salini awarded $600m contract for 400 retail units in Diriyah Square

• Diriyah Square is located at the heart of Diriyah, the City of Earth, within the unique Najdi-inspired architectural Diriyah Masterplan.
• It is designed to develop a vibrant retail district featuring a mix of 400 iconic retail, leisure, and dining brands.

Low-cost carrier Wizz Air to stop Abu Dhabi operations

• The airline will exit its  Abu Dhabi hub starting from September.
• The seventh biggest European airlines in terms of daily flights operated around 30 routes in the Middle East.

Syria signs $800 mn port deal with DP World to develop Tartus port

• DP World operates dozens of marine and inland ports and terminals globally, particularly in Asia, Africa and Europe.
• The Syrian civil war devastated the country's infrastructure, and the new authorities hope to use the lifting of Western sanctions to attract investments and fuel reconstruction.