EDGE, Brazilian Army to establish cyber defense center in Brazil
Dubai, UAE -- EDGE Group and the Brazilian Army will establish a Cyber Defence Centre of Excellence in Brazil, the...
Business
Dubai completes 104 real estate projects worth over $30.22 billion
Dubai completed 104 real estate projects worth more than AED111 billion in the first half of 2026, according to Dubai...
Business
Business
Saudi launches one-stop platform for summer travel offers and experiences
Dubai, UAE -- Saudi Arabia's tourism authority has launched a digital platform bringing together travel offers and tourism packages from...
- Platform combines accommodation, flights, events and entertainment offers.
- Packages available for Riyadh, Jeddah, Asir, Red Sea, Taif and Al-Baha.
Business
Saudi tourist spending rises to $22 billion in Q1 despite drop in foreign arrivals
Domestic travel helped sustain Saudi Arabia's tourism sector in the first quarter, with total visitor numbers rising to 37.2 million...
- International visitors generated SAR48 billion, nearly 60% of total tourism spending despite representing just one-fifth of travelers.
- More than 105,000 hotel rooms are scheduled for delivery by 2030 as Saudi Arabia expands tourism infrastructure.
Business
Gold prices fall 1 percent on Fed rate rise expectations, gold edges higher
Brent crude futures rose 24 cents, or 0.38%, to $78.15 a barrel by 0026 GMT, while U.S. West Texas Intermediate...
- The gains followed a selloff of more than 3% on Monday, when oil prices fell after signs of progress in negotiations between Washington and Tehran.
- Spot gold was down 1.1% at $4,142.61 an ounce as of 0414 GMT, while U.S. gold futures for August delivery fell 1% to $4,160.20.
Business
Abu Dhabi new business licenses rise 21% in first quarter, ADRA says
New economic licences issued in Abu Dhabi rose 21% in the first quarter of 2026 from a year earlier, reflecting...
- New licences rose 58% in Al Ain and 28% in Al Dhafra, outpacing growth in Abu Dhabi city.
- Thirty-four industrial facilities entered production during the quarter, supporting local manufacturing capacity and supply-chain development goals.
Economy
Bain identifies four priorities for sovereign wealth funds as assets approach $30 trillion
State-backed investors are expanding beyond traditional investment models, increasing exposure to alternatives, AI and direct deals while balancing returns with...
- Top 10 sovereign wealth funds hold more than 75% of global assets.
- Sovereign wealth funds reached about $15 trillion in assets under management in 2025.
Business
Saudi Arabia cuts US Treasury holdings by $9.5 billion in April
Dubai, UAE -- Saudi Arabia reduced its holdings of U.S. Treasury securities by $9.5 billion in April to $140.1 billion,...
- The decline followed a sharp increase earlier this year that had lifted Saudi holdings to a six-year high of $160.4 billion in February.
- Since then, the kingdom has pared back its exposure, largely through reductions in Treasury bills and other short-dated securities.
Business
Saudi tourist arrivals rise to 122.6 million in 2025, spending hits $81 billion
The growth was driven primarily by domestic travel, which reached 93.3 million tourists, up 8.3% from 2024, while inbound visitor...
- Leisure and holiday travel attracted 7 million visitors, while visits to friends and relatives totaled 4.4 million. Business travel rose 14% to 2.3 million visitors.
- Hospitality capacity expanded sharply, with licensed rooms rising 25.4% as tourism's contribution to GDP edged higher.
Business
AD Ports launches UAE-Iraq integrated logistics service
Dubai, UAE -- AD Ports Group has launched an integrated logistics service linking the UAE's Khalifa Port with Iraq's Umm...
- Weekly shipping link targets growing container and Ro-Ro traffic moving between Iraq, the UAE and neighbouring markets.
- Enhanced logistics capabilities at both ports aim to improve cargo handling efficiency and long-term supply chain resilience.
Business
Abu Dhabi climbs global startup rankings on AI and tech growth
The emirate was ranked in the #41-50 category globally, improving from the #51-60 range a year earlier and marking one...
- The report highlighted the role of Hub71 in supporting founders and technology companies as Abu Dhabi seeks to strengthen its position as a global innovation hub.
- The report, unveiled at the VivaTech conference in Paris, analyzed data from more than 5.5 million companies across over 350 entrepreneurial ecosystems worldwide.
Business
Gold extends winning streak as oil and dollar weaken
The U.S. Dollar Index fell to 99.53, giving back part of the gains it had recently recorded on safe-haven demand....
- Other precious metals also moved higher. Spot silver gained 0.3% to $70.38 an ounce, platinum rose 0.5% to $1,812.80, and palladium added 0.3% to $1,355.65.
- Brent crude futures fell 16 cents, or 0.2%, to $78.80 a barrel by 0340 GMT, while U.S. West Texas Intermediate crude slipped 25 cents, or 0.3%, to $75.80 a barrel.
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EDGE, Brazilian Army to establish cyber defense center in Brazil
Dubai, UAE -- EDGE Group and the Brazilian Army will establish a Cyber Defence Centre of Excellence in Brazil, the...
Business
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Alpha Dhabi profit jumps 48%
Business
Agthia profit, dividend jump
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2PointZero reports strong H1
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Borouge profit climbs 23%
Business
Aramco profit jumps as oil prices surge despite Hormuz disruption
Saudi oil giant Aramco reported a 44 percent jump in second-quarter net profit on Wednesday, helped by higher crude oil...
Business
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Business
Emirates NBD to acquire retail banking business of HSBC Egypt
Dubai, UAE -- Emirates NBD Egypt S.A.E., a 100 percent owned subsidiary of Emirates NBD Bank has entered into definitive...
- Emirates NBD Egypt will acquire HSBC Egypt’s retail banking portfolio along with the associated branch and ATM network, customer base and relevant employee base.
- The transaction is expected to enhance Emirates NBD Egypt's market positioning as a leading retail and premium banking franchise in Egypt.
Business
Aldar records $408 million sales from Yas Point residential launch
Dubai, UAE -- Aldar said it generated AED1.5 billion ($408 million) in sales from the launch of The Canopies, the...
- First-time Aldar buyers accounted for 84 percent of customers, with UAE nationals representing 40 percent of total sales.
- Expatriate residents and overseas buyers contributed 60 percent of sales, while 47 percent of buyers were under 45.
Business
DFM reports higher H1 trading activity as profit reaches $121 million
Dubai, UAE -- Dubai Financial Market (DFM) reported a net profit before tax of AED443.2 million ($121 million) for the...
- Average daily traded value climbed 45.1 percent to AED1.004 billion as average daily trades increased 35.4 percent year-on-year.
- DFM attracted 42,864 new investors, with international investors representing 71.4 percent of registrations and foreign trading reaching 51 percent.