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...
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...
Business
Business
Globalization must be inclusive, not extractive. Multinationals can lead by example
We’re witnessing a period of dramatic adjustment in international trade, as tariffs and geopolitical tensions disrupt or reorient supply chains....
- While globalization has driven global trade, imbalances threaten its future legitimacy
- Multinational corporations should champion localization strategies that prioritize wealth equity
Business
IHC H1 net profit $2.94 billion
The company posted 31% increase in revenue.
- The second quarter of 2025 delivered one of the Group’s strongest quarterly performances, with revenue rising 22.5 percent year-on-year to AED27.5 billion.
- Revenue growth was supported by solid contributions from core operating segments, it said.
Business
Neo Space Group launches Saudi Arabia’s first earth observation marketplace
Riyadh, Saudi Arabia -- Neo Space Group (NSG), a Public Investment Fund (PIF) company, has announced the launch of the...
- NSG stated that the EO Marketplace will bring together a growing network of EO data providers and value-added service providers offering advanced geospatial analytics
- The platform is built to empower public sector agencies, Saudi companies, and international users by offering a wide range of high-resolution satellite imagery
Business
Tesla approves $29 bn in shares to Musk as court case rumbles on
Washington, United States -- Tesla announced an "interim" compensation award worth about $29 billion for Elon Musk on Monday, asserting...
- The award comes as Tesla challenges a Delaware court ruling that struck down a 2018 package of about $55.8 billion.
- The move comes amid a fierce battle for top engineering talent as companies like Google and Meta compete for leadership on artificial intelligence.
Business
Jordan sees decrease in number of tourists over Gaza war
Amman, Jordan -- Jordan has seen a decrease in the number of tourists visiting its famed ancient city of Petra...
- According to figures from the Petra tourism authority carried by official media, 32 hotels have had to shut down and nearly 700 people have lost their jobs.
- Petra, famous for its stunning temples hewn from rose-pink cliff faces, is a UN World Heritage site.
Business
24 Dubai real-estate projects worth $1.22bn completed in H1
Dubai, UAE -- The first half of 2025 saw the completion of 24 real estate projects valued at AED 4.5...
- This momentum is part of a wider growth trajectory, with 726 projects currently under construction across the emirate.
- Dubai’s real estate market registered 90,337 new real estate units during the first half of the year.
Economy
Alpha Dhabi H1 profit $1.79bn
Adjusted EBITDA rises to $2.36bn.
- The group’s financial position remains robust, with total assets of AED198.4 billion and equity of AED98.1 billion.
- This quarter, Alpha Dhabi Holding and four of its portfolio companies featured in the Forbes Top 100 Listed Companies in the Middle East 2025.
Business
Borouge Q2 net profit $193m
The H1 revenue stood at $2.72 billion.
- Adjusted EBITDA for the second quarter was $440 million.
- The company has proposed an increased minimum interim dividend of 8.1 fils per share for H1.
Business
Saudi Arabia’s real GDP up by 3.9 percent in Q2 2025: GASTAT
Riyadh, Saudi Arabia -- Saudi Arabia's real Gross Domestic Product (GDP) grew by 3.9 percent in the second quarter of...
- Flash estimates of GDP for Q2 say non-oil activities recorded the highest growth at 4.7 percent.
- The estimates, released by GASTAT, said oil activities grew by 3.8 percent and government activities at 0.6 percent.
Business
Microsoft valuation surges above $4 trillion as AI lifts stocks
Shares of Microsoft vaulted 5.3 percent after it reported $27.2 billion in quarterly profits as it touted massive investments in...
- About 25 minutes into trading, the tech-rich Nasdaq Composite Index was up 1.3 percent at 21,396.04.
- The gains came as President Donald Trump announced a trade deal with South Korea that imposes a 15 percent tariff on imports from the Asian country.
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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...
Business
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Volatility grips oil market as nervous investors assess Venezuela
Having spiked in an initial reaction to the military operation to apprehend Nicolas Maduro in Caracas, oil prices quickly dropped...
- But then oil recovered again as investors realized that Venezuela is in no position to make a meaningful impact on oil supply in the short run.
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‘Tuna King’ pays record $3.2 mn for bluefin at Tokyo auction
Tokyo, Japan -- A Japanese sushi entrepreneur paid a record $3.2 million for a giant bluefin tuna Monday at an...
- The 510.3 million yen price at the new year's auction was the highest since comparable data started being collected in 1999.
- The previous high was 333.6 million yen for a 278-kilogram bluefin in 2019, after the fish market moved from its traditional Tsukiji area in central Tokyo to a more modern facility
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Norway closes in on objective of 100 percent electric car sales
Oslo, Norway -- Norway came close to its objective of selling only zero-emission cars in 2025, with electric vehicles accounting...
- Although Norway is Western Europe's largest exporter of petroleum products, it has led the shift to electric vehicles.
- A record 179,549 personal vehicles were registered in 2025, beating the previous high set in 2021, the Norwegian Road Federation (OFV) said on Friday.