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
Business
Sharjah records 361 percent growth in capital investment in H1
Sharjah, UAE -- The Sharjah FDI Office (Invest in Sharjah) has announced an exceptional increase in foreign direct investment during...
- In this time period the emirate recorded 74 FDI projects, a 57 percent surge from the 47 projects in the same period last year.
- February 2025 saw the highest volume of FDI activity in terms of both project count and capital investment.
Business
Airbus, Leonardo and Thales reported moving towards European space firm
Rome, Italy -- European aerospace firms Airbus, Leonardo and Thales could seal an accord this year to set up a...
- The three firms want to set up a satellite production entity to rival Elon Musk's SpaceX and growing low-cost competition from China and other countries.
- Roberto Cingolani, head of Italy's Leonardo aerospace and defense giant, said in June that an accord could be taken by July, but the deadlines have been pushed back.
Business
Lab-grown diamonds robbing southern Africa of riches
Johannesburg, South Africa -- Botswana and southern African peers that built much of their prosperity on diamonds are scrambling for...
- Diamond-dependent Botswana is leading the way and launched a sovereign wealth fund this week to lay the "foundation for a more resilient and diversified future beyond diamonds".
- It is exploring other avenues too, like boosting luxury wildlife tourism, launching into the medicinal cannabis market and exploiting its abundant sunshine for solar power.
Business
Market value of camels at Crown Prince Festival reaches $66 million
Taif, Saudi Arabia -- The market value of the camels competing in the final rounds of the 2025 Crown Prince...
- The seventh edition of the festival, organized by Saudi Camel Sports, began on September 2 under the patronage of Prince Mohammed bin Salman bin Abdulaziz Al Saud.
- The competition featured a total of 249 rounds, with prize money exceeding SAR50 million. The final four rounds, covering a distance of 24 kilometers, will be held on Friday.
Economy
Global oil supply hit record high in August: IEA
Paris, France -- Global oil supply hit a record high in August as OPEC+ and other countries ramped up production,...
- Eight key members of OPEC+ group, including Saudi Arabia and Russia, have been gradually increasing production since April after restricting output in recent years.
- Non-OPEC+ nations have also been raising their output, with the IEA saying production from the United States, Brazil, Canada, Guyana and Argentina was "at or near all-time highs".
Business
Robot dogs, flying cars: five takeaways from the Munich auto show
Companies including Germany's Holon and Estonia's Auve Tech displayed small self-driving buses, designed for routes where larger buses with drivers...
- Chinese brands showcased their efforts to create "flying cars", small electric aircraft powered by multiple rotors designed for short journeys.
- Austrian Wolfgang Podleiszek is working on a funky two-wheeled electric car that steers like a segway and needs the driver to lean into corners.
Business
Musk’s title of richest person challenged by Oracle’s Ellison
New York, United States - Billionaire Elon Musk is at risk of losing his title of world's wealthiest person to...
- Ellison, 81, amassed more than $100 billion in additional wealth Wednesday as Oracle shares skyrocketed after the nearly 50-year old company forecast massive revenue growth
- That rise lifted Ellison's overall wealth to about $406 billion compared with Musk's roughly $440 billion, according to a Forbes real-time billionaire's index
Business
Stock markets strike records despite geopolitical unrest
Gains for oil prices were relatively modest, while gas futures were unmoved after Israel's strikes Tuesday against Hamas in gas-rich...
- Wall Street had notched fresh highs Tuesday as markets digested weak US jobs data that added to expectations that the Fed will lower US interest rates at their next meeting.
- Tokyo's stock market ended at an all-time high, as did Seoul where traders were hopeful the government will not implement plans to lower the capital gains tax threshold for stocks.
Geostrategy
Europe hyperloop test hits new speed record in Dutch trial
The Hague, Netherlands -- A Dutch tech startup said Wednesday it had set a European speed record for its futuristic...
- Hardt Hyperloop said its vehicle had reached 85 kph at the 420 meter European Hyperloop Center test track in the Netherlands and had carried out a complex lane switching test.
- It said the lane switching maneuver -- essential for networked routes -- showed there were no technical barriers to operating at aircraft-like speeds.
Business
Stocks climb eyeing US rate cut, political turbulence
A steep downward revision to US job creation cemented expectations that the Federal Reserve would begin lowering its benchmark rate...
- US employment growth is likely to be revised down by 911,000 for the 12 months ending in March, official data showed.
- Investors are now looking to consumer inflation data coming Thursday, since a hot reading could keep the Fed from cutting further as it looks to curb price increases.
Most Read
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
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
Company News
2PointZero posts profit surge
Business
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Mashreq Q1 profit rises
Business
TECOM profit climbs
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...
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.