Dubai Islamic Bank prices $1 billion AT1 sukuk after strong demand
Dubai, UAE -- Dubai Islamic Bank (DIB) has priced a $1 billion Additional Tier 1 (AT1) perpetual sukuk after attracting...
Business
Riyadh Air adds five routes as first Dreamliners arrive
The expansion marks an early test of Saudi Arabia's ambition to build Riyadh into a major international aviation hub.
Business
Business
G42 and Santander sign strategic AI partnership
Abu Dhabi, UAE -- Abu Dhabi-based technology group G42 and Spanish banking giant Santander have signed a memorandum of understanding...
- G42 subsidiaries Inception and Presight are expected to contribute agentic AI, cloud infrastructure and intelligent systems expertise.
- The partners said future agreements will require regulatory approvals and adherence to governance, transparency and data protection rules.
Business
AD Ports Group acquires CLI
CLI is Brazilian agri-bulk terminal operator.
- Acquisition gives AD Ports access to Brazil's major grain and sugar export corridors through terminals at Santos and Itaqui.
- CLI handled 17 million tonnes of cargo in 2025, generating AED 654 million revenue and AED 360 million EBITDA.
Business
Dubai RTA digital revenue climbs 20.6 percent in 2025
Dubai, UAE -- Dubai's Roads and Transport Authority (RTA) generated AED5.3 billion ($1.44 billion) in revenue through digital channels in...
- Digital channel adoption reached 96%, while customer happiness averaged 98% across services offered by the authority.
- Smart application users exceeded 1.2 million, with annual visits rising 144% compared with 2024 levels.
Business
$1.59bn Makkah project awarded
A consortium will develop two districts in the Holy City.
- The consortium includes Masar, Makkah Construction and Development, and AlRajhi United Real Estate as project partners.
- Development covers 1.15 million square meters through a private real estate investment fund structure.
Business
Middle East conflict drags global air travel demand lower
Revenue passenger kilometers (RPK), the industry's measure of demand, declined 3.4% year-on-year, while available seat kilometers (ASK), a measure of...
- Excluding the Middle East, passenger demand would have risen 1.2%, the International Air Transport Association (IATA) has said.
- April jet fuel costs more than doubled, prompting airlines to rebalance capacity amid changing travel patterns worldwide.
Business
SpaceX IPO valuation raises concerns over investor demand
SpaceX’s planned initial public offering at a valuation of at least $1.8 trillion is emerging as a major test of...
- SpaceX reportedly seeks raising $75 billion after generating nearly $19 billion revenue last year from Starlink expansion globally.
- deVere Group warns institutional investors may redirect capital from Magnificent Seven stocks toward emerging AI and space companies.
Business
Visa expands AI-driven payments program across CEMEA region
Visa launched its global Agentic Ready program in the United Arab Emirates on Wednesday, expanding efforts to support artificial intelligence-driven...
- UAE financial institutions including Emirates NBD, Mashreq and ADCB joined the first phase of the AI commerce program.
- Visa research found nearly 60% of UAE businesses are exploring agentic commerce applications and AI-driven transaction models.
Business
UAE property market enters more sustainable growth phase
The UAE real estate market entered a more measured and mature phase in the first quarter of 2026 after the...
- Abu Dhabi recorded about 7,800 residential deals in Q1, up 119% year-on-year amid sustained investor demand.
- Dubai apartment deliveries exceeded 10,000 units monthly as developers maintained large residential construction pipelines.
Business
Emirates breaks ground on Dubai South engineering hub
The $5.1 billion engineering complex targets advanced aircraft maintenance capabilities, sustainability benchmarks, and expanded aviation infrastructure. The facility is being...
- Emirates said the Dubai South complex will include simultaneous servicing capacity for 28 wide-body aircraft and two specialized paint hangars.
- The facility targets LEED Platinum sustainability standards with rooftop solar installations, expanded logistics infrastructure and engineering training facilities nationwide.
Business
ADNOC-led partnership targets $30 billion infrastructure investments
The partnership will raise a combination of equity and debt capital to target an investment portfolio that aims to generate...
- Partnership will target diversified infrastructure assets across energy, transportation, logistics, digital networks, water systems and waste management sectors.
- Investors said accelerating urbanisation and digitisation trends are strengthening long-term infrastructure demand across GCC and Central Asian markets.
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Dubai Islamic Bank prices $1 billion AT1 sukuk after strong demand
Dubai, UAE -- Dubai Islamic Bank (DIB) has priced a $1 billion Additional Tier 1 (AT1) perpetual sukuk after attracting...
Business
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Oil prices extend gains after OPEC+ talks fail, equities mixed
Brent broke above $77 for the first time since 2018 Breakdown of talks raises the possibility of $100 a barrel...
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...
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...
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...
Business
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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.
Business
G42 and Santander sign strategic AI partnership
Abu Dhabi, UAE -- Abu Dhabi-based technology group G42 and Spanish banking giant Santander have signed a memorandum of understanding...
- G42 subsidiaries Inception and Presight are expected to contribute agentic AI, cloud infrastructure and intelligent systems expertise.
- The partners said future agreements will require regulatory approvals and adherence to governance, transparency and data protection rules.
Business
AD Ports Group acquires CLI
CLI is Brazilian agri-bulk terminal operator.
- Acquisition gives AD Ports access to Brazil's major grain and sugar export corridors through terminals at Santos and Itaqui.
- CLI handled 17 million tonnes of cargo in 2025, generating AED 654 million revenue and AED 360 million EBITDA.