GCC outward workers’ remittances reach $161 billion in 2025
Gulf Cooperation Council countries collectively recorded the world’s highest value of outward workers’ remittances in 2025, totaling approximately $161 billion,...
Business
Aldar, Arada sign $4bn Abu Dhabi development partnership
Dubai, UAE -- Aldar and Arada have agreed a strategic partnership covering development opportunities on Yas Island and at Seih...
Business
Business
OpenAI files confidentially for IPO as AI boom accelerates
The company did not disclose the size or timing of the offering, saying only that preparations remained at an early...
- Reuters previously reported OpenAI could seek a valuation of up to $1 trillion, potentially making it one of history's largest technology listings.
- The filing follows a restructuring effort and a court victory over Elon Musk, removing a major legal hurdle ahead of any share sale.
Analysis
Why flexibility is non-negotiable in the Middle East’s AI transformation
The region is a mosaic of digital ambitions where distinct national strategies are unfolding simultaneously. While the UAE accelerates its...
- Open source is the ultimate enabler of digital sovereignty, as it gives enterprises greater transparency, flexibility, and control over their IT estate.
- Energy and public sectors require rugged edge capabilities and the ability to process data in remote, high-demand environments.
Business
UAE travel sites improve email fraud protections: Proofpoint
Dubai, UAE -- The UAE's travel sector has strengthened its defences against email fraud ahead of the peak summer booking...
- Proofpoint said 45% of the travel websites surveyed were operating at the reject level, up from previous years, but 55% had yet to implement the strongest protection setting.
- The analysis was conducted in May 2026 and covered the UAE's 20 most-visited travel websites, identified using data from digital marketing platform SEMrush.Â
Business
Dubai economic zones post highest-ever trade performance in 2025
Dubai, UAE -- Dubai's integrated economic zones recorded their strongest-ever trade performance in 2025, with total trade rising 46% year-on-year...
- Total trade through DIEZ rose 46% to AED491 billion, marking a fifth consecutive year of growth and lifting its share of Dubai's non-oil trade to 16%.
- Trade volumes increased 50% to nearly 668,000 tonnes, signalling growth driven by higher cargo movement and commercial activity rather than price effects.
Business
Microsoft data highlights Qatar’s rapid Artificial Intelligence growth
The finding place Qatar among the top ten countries globally for practical AI usage. Qatar's AI market reached approximately $59...
- Experts say governance, regulation and workforce skills will determine the long-term success of Qatar's AI ambitions.
- Several institutions have played a leading role in advancing AI adoption, including Qatar Foundation for Education, Science and Community Development.
Business
Google inks multi-year AI infrastructure pact with SpaceX
Dubai, UAE -- SpaceX has signed a multi-year cloud services agreement with Alphabet's Google, securing a major customer for its...
- Google will pay $920 million monthly from October through June 2029, with reduced charges during the initial ramp-up period.
- SpaceX said the contract covers roughly 110,000 Nvidia GPUs alongside CPUs, memory and related computing infrastructure.
Business
Global travel firms reaffirm confidence in UAE tourism growth
Dubai, UAE --- Global travel companies and tourism industry leaders expressed confidence in the UAE's tourism sector during the "Engage...
- Elevate World launched Yara AI to support tour operators, hotels and tourism stakeholders across the wider travel ecosystem.
- Wynn Al Marjan Island updated industry partners on construction progress and international trade engagement ahead of opening.
Business
Oil steadies while gold and bitcoin extend weekly losses
Oil markets were supported by expectations that ongoing talks between the United States and Iran could help secure energy flows...
- U.S. crude remained more than 6% higher for the week despite Thursday's sharp decline on optimism over Iran talks.
- Record outflows from U.S. spot bitcoin ETFs in May accelerated cryptocurrency losses as investors shifted toward technology stocks.
Business
UAE property market draws global investors despite regional conflict
The UAE Property Investment Index, conducted by U.S.-based Penta Group, found that 56% of global property investors expressed serious interest...
- More than half of surveyed investors expressed serious interest in UAE property, surpassing investor interest levels in the United States.
- Indian, Egyptian and Saudi investors showed particularly strong demand, while European buyers increasingly view the UAE as a preferred overseas market.
Business
ChatGPT surpasses 1 billion monthly active users in May
Dubai, UAE -- OpenAI's ChatGPT surpassed 1 billion monthly active users in May, becoming the fastest application to reach the...
- Sensor Tower estimates ChatGPT reached one billion monthly users roughly three years after launching in late 2022.
- Growing enterprise adoption and multimodal capabilities have helped fuel demand amid intensifying competition across artificial intelligence markets.
GCC outward workers’ remittances reach $161 billion in 2025
Gulf Cooperation Council countries collectively recorded the world’s highest value of outward workers’ remittances in 2025, totaling approximately $161 billion,...
Business
Company News
Tabreed H1 revenue $308m
Business
Latest News
ADNOC L&S to expand fleet
Business
Saudi POS transactions fall to $3.8 billion in week ended Aug 15
Dubai, UAE -- Point-of-sale transactions in Saudi Arabia fell to nearly $3.79 billion in the week ended Aug. 15, from...
Dubai Chambers, NASSCOM to expand cooperation on Agentic AI
Dubai Chambers has signed a memorandum of understanding with India's National Association of Software and Service Companies (NASSCOM) to expand...
Business
Middle East Energy expects 1,528 exhibitors for 50th Dubai edition
Middle East Energy will host its 50th edition in Dubai next month with 1,528 global energy companies confirmed to exhibit,...
Business
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Economy
70% Saudization for project management jobs from February 2027
Saudi Arabia's Ministry of Human Resources and Social Development (HRSD), in partnership with the Ministry of Municipalities and Housing (MOMAH),...
- The decision covers private-sector establishments employing at least three workers in targeted project management professions.
- Support includes recruitment, training, qualification, job retention and priority access to Saudization programs for covered employers.
Business
AD Ports posts 88 percent rise in second-quarter net profit
Dubai, UAE -- AD Ports Group reported a record quarterly performance for the second quarter of 2026, with net profit...
- Revenue rose 47 percent to AED7.08 billion ($1.93 billion), while EBITDA increased 49 percent to AED1.74 billion ($474 million).
- The group added 400 trucks during the quarter and increased rail service frequency with Etihad Rail.
Business
DEWA posts record H1 profit
Revenue reaches record $4.04 billion.
- DEWA’s first-half net profit rose 15.02 percent, supported by electricity, water and cooling demand, customer growth and operational performance.
- Clean energy accounted for 19.9 percent of power generated during the second quarter, as DEWA expanded renewable capacity.