Saudi public investment funds assets rise 20 percent in Q1 to $61 billion
Dubai, UAE -- Assets of Saudi Arabia's public investment funds rose 20 percent year-on-year to SAR231.7 billion ($61.8 billion) in...
Business
EDGE to acquire 100% stake in Brazilian firm AKAER
Dubai, UAE -- UAE defense and advanced technology group EDGE has agreed to acquire a 100 percent stake in Brazilian...
Business
Business
flydubai doubles daily Bangkok flights amid strong demand
Dubai, UAE -- Dubai-based carrier flydubai will introduce a second daily flight to Bangkok from July 18, doubling its daily...
- The carrier said the expanded schedule would provide passengers with greater flexibility and strengthen Dubai's position as a global aviation hub.
- The airline has also recently launched services to Benghazi in Libya and plans to begin flights to Aleppo in Syria on July 20 and Pokhara in Nepal on Sept. 23.
Business
OpenAI loses appeal against EU refusal to register its name as trademark
Dubai, UAE -- OpenAI, the owner of the ChatGPT chatbot, lost Wednesday its appeal against the EU's refusal to register...
- The US firm had sought to overturn a decision by the European Union Intellectual Property Office (EUIPO) that accepted protecting OpenAI's logo but not the name.
- EUIPO had ruled that the combination of the two common words in English, "open" and "AI", could describe many business activities in the area of artificial intelligence.
Business
Youth account for over 30 percent of EWEC workforce, utility says
Dubai, UAE -- Abu Dhabi's Emirates Water and Electricity Company (EWEC) said young professionals now make up more than 30...
- Utility expands graduate, AI and leadership training to build skills for UAE's energy transition.
- EWEC said its two-year graduate development programme includes departmental rotations, technical training and mentoring.
Business
Sharjah real estate transactions rise 9.3 percent to AED29.5 billion in H1
Dubai, UAE -- Sharjah's real estate transactions rose 9.3 percent year on year to about AED29.5 billion ($8.03 billion) in...
- The Sharjah Real Estate Registration Department said it completed 59,460 transactions during the six-month period, up 23.7 percent from a year earlier.
- Sales transactions totalled 16,426 across 202 areas, covering 85 million square feet, a 4.7 percent increase from the first half of 2025.
Business
DIB H1 net profit $1bn
Gross revenue increased 10% year on year
- Net financing assets grew 7 percent since the start of the year to AED281 billion after the bank extended AED43 billion in new financing during the period.
- Customer deposits rose 2 percent to AED327 billion, while total assets increased to AED423 billion.
Business
Major book publishers sue Google over use of copyrighted books to train AI models
Several major book publishers and authors have sued Google, alleging the technology company illegally copied millions of copyrighted books to...
- The proposed class-action lawsuit was filed on Tuesday in a New York court by Hachette Book Group, Cengage Learning, Elsevier, author Scott Turow and his publishing company, S.C.R.
- The lawsuit also alleged that Gemini can tailor its outputs to imitate the expressive style and creative choices of specific authors.
Business
Ajman real estate transactions reach $2.94 billion in first half
Dubai, UAE -- Real estate transactions in Ajman totalled more than 10.8 billion dirhams ($2.94 billion) in the first half...
- The department recorded 6,815 real estate transactions during the January-June period, according to the Ajman Real Estate Index.
- Trading transactions accounted for 5,435 deals worth 7.64 billion dirhams, while 969 mortgage transactions totalled more than 1.88 billion dirhams.
Business
Turkey’s exports to EU rise 4.7 percent to $55 billion in first half
Dubai, UAE -- Turkey's exports to the European Union rose 4.7 percent in the first half of 2026 to $55...
- EU-bound shipments accounted for a significant share of Turkey's total exports, which increased 3.6 percent year-on-year to $136 billion during the January-June period.
- Germany remained Turkey's largest export destination, receiving goods worth $10.1 billion, followed by Italy at $6.8 billion and Spain at $5.6 billion.
Business
SIB H1 profit up 15.3%
Total operating income rises 20.5 percent.
- Total assets rose 4.7 percent to AED94.5 billion as Islamic financing portfolio expanded and customer deposits continued growing strongly.
- Non-performing financing ratio improved to 3.6 percent while shareholders' equity increased following a AED2.6 billion capital strengthening exercise.
Business
Dubai diamond trade hits record $41.7 billion in 2025, DMCC says
Dubai, UAE -- Dubai's diamond trade rose to a record $41.7 billion in 2025, surpassing its previous high set in...
- Natural diamonds remained the dominant segment, generating $39.9 billion in trade, or 95.8 percent of the total value.
- Trade in natural polished diamonds rose nearly 25 percent year-on-year to $18.7 billion, while rough diamond volumes reached 205.2 million carats.
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Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
Saudi public investment funds assets rise 20 percent in Q1 to $61 billion
Dubai, UAE -- Assets of Saudi Arabia's public investment funds rose 20 percent year-on-year to SAR231.7 billion ($61.8 billion) in...
Business
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Musk kicks Kanye West off Twitter for ‘incitement to violence’
West has made a series of anti-Semitic comments recently, as the one-time titan of fashion and music appears to have...
Oman sees hospitality industry revenue fall 3.5%
The National Centre for Statistics and Information says domestic guest have supported the Oman's hotels.
Proof of Covid-19 vaccination, PCR test needed to enter Expo Dubai
Expo 2020 visitors will need a coronavirus vaccination or a negative PCR test to enter, organisers in Dubai has said....
Cyberattack hits hundreds of US businesses
A US IT company urges customers to shut down their servers after the attack UN Security Council members recently warned...
Saudi Arabia to generate $150 billion in investments from its new transport policy
The government would provide thirty-five percent of the investments The rest of it, sixty-five percent, will come from the private...
Bank of Sharjah profit up 39%
Business
Youth account for over 30 percent of EWEC workforce, utility says
Dubai, UAE -- Abu Dhabi's Emirates Water and Electricity Company (EWEC) said young professionals now make up more than 30...
Business
Sharjah real estate transactions rise 9.3 percent to AED29.5 billion in H1
Dubai, UAE -- Sharjah's real estate transactions rose 9.3 percent year on year to about AED29.5 billion ($8.03 billion) in...
Business
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Business
Ajman real estate transactions reach $2.94 billion in first half
Dubai, UAE -- Real estate transactions in Ajman totalled more than 10.8 billion dirhams ($2.94 billion) in the first half...
- The department recorded 6,815 real estate transactions during the January-June period, according to the Ajman Real Estate Index.
- Trading transactions accounted for 5,435 deals worth 7.64 billion dirhams, while 969 mortgage transactions totalled more than 1.88 billion dirhams.
Business
Turkey’s exports to EU rise 4.7 percent to $55 billion in first half
Dubai, UAE -- Turkey's exports to the European Union rose 4.7 percent in the first half of 2026 to $55...
- EU-bound shipments accounted for a significant share of Turkey's total exports, which increased 3.6 percent year-on-year to $136 billion during the January-June period.
- Germany remained Turkey's largest export destination, receiving goods worth $10.1 billion, followed by Italy at $6.8 billion and Spain at $5.6 billion.
Business
SIB H1 profit up 15.3%
Total operating income rises 20.5 percent.
- Total assets rose 4.7 percent to AED94.5 billion as Islamic financing portfolio expanded and customer deposits continued growing strongly.
- Non-performing financing ratio improved to 3.6 percent while shareholders' equity increased following a AED2.6 billion capital strengthening exercise.