Turkey’s exports to EU rise 4.7 percent to $55 billion in first half
Dubai, UAE -- Turkey's exports to the European Union rose 4.7 percent in the first half of 2026 to $55...
Business
Lamki: ADNOC’s South Africa acquisition accelerates international growth strategy
Chief Executive Officer ADNOC Distribution Bader Saeed Al Lamki said South Africa was attractive because of its scale and regulatory...
Business
Alujain widens 2025 loss
Business
Masar 2025 net profit $262m
Business
Tasnee’s 2025 losses deepen
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Business
Aramco signs $11bn deal
The deal involves its Jafurah gas facilities.
- Jafurah is the largest non-associated gas development in the Kingdom of Saudi Arabia, estimated to contain 229 trillion standard cubic feet of raw gas.
- It is a key component in Aramco’s plans to increase gas production capacity by 60 percent between 2021 and 2030.
Business
Larry Fink, André Hoffmann take interim helm at WEF, pledge renewed push for global cooperation
The World Economic Forum has named BlackRock CEO Larry Fink and Swiss entrepreneur André Hoffmann as interim co-chairs, with both...
- “We are honored to take on this leadership role on an interim basis at a pivotal time for the World Economic Forum,” Fink and Hoffmann said in a joint statement
- The two leaders stressed that the WEF is uniquely positioned to bridge divides a time when the world more fragmented and complex than ever
Business
Stocks diverge as bitcoin hits record high
Bitcoin hit a new peak at $124,514.59 in Asian trading, before cooling to around $121,500. The world's biggest cryptocurrency is...
- Bitcoin is also winning investor support thanks to strong backing for the cryptocurrency sector from Trump.
- Most European equity indices climbed after major Asian peers ended lower.
Business
TAQA H1 net income $1bn
The group's revenue reached $7.73 billion.
- This growth was led by higher pass-through costs in the Transmission & Distribution (T&D) segment.
- The group reduced its gross debt position to AED61.7 billion, enabled by scheduled repayments and the maturity of a corporate bond.
Business
Musk clashes with Altman after accusing App Store of favoring OpenAI
San Francisco, United States -- Elon Musk has accused Apple of unfairly favoring ChatGPT on its App Store and threatened...
- OpenAI and xAI both released new versions of their AI assistants, ChatGPT and Grok, in the past week.
- App Store rankings listed ChatGPT as the top free iPhone app on Tuesday, with Grok in fifth place.
Business
Perplexity AI offers Google $34.5 bn for Chrome browser
San Francisco, United States -- Perplexity AI offered Google on Tuesday $34.5 billion for its popular Chrome web browser, which...
- The sum proposed in a letter of intent by Perplexity is nearly double the value of the startup, which was reportedly $18 billion in a recent funding round.
- Google is awaiting a US District Court judge's decision on how to address its illegal monopoly in online search.
Business
Gulf tourists say Polish mountain town is a cool place
Zakopane, Poland -- Saudi photographer Fahad Alayyash gazed over the Alpine-like panorama of the Tatras, Poland's highest mountain range --...
- Up to seven flights fly daily from the Gulf region at nearby Krakow Airport.
- Arab customers constitute up to 30 percent of all summer guests at his five-star hotel in Zakopane.
Business
China Evergrande Group says to delist from Hong Kong
Hong Kong, China -- Embattled property giant China Evergrande Group said Tuesday it will delist from Hong Kong Stock Exchange...
- The Hong Kong bourse's listing committee decided to cancel Evergrande's listing as it had failed to meet a July deadline to resume trading, according to an exchange filing.
- Once China's biggest real estate firm, Evergrande was worth more than $50 billion at its peak and helped propel the country's rapid economic growth in recent decades.
Business
ADNOC L&S H1 net profit $420m
The company’s revenue reached $2.43bn
- ADNOC L&S’s Q2 revenue increased by 40 percent year-on-year (YoY) to US$1.258 billion (AED 4.618 billion)
- In H1 2025, the company’s revenue was $2.439 billion (AED 8.9 billion), a 40 percent YoY increase.
Business
Abu Dhabi’s AI sector expands 61% in one year: Abu Dhabi Chamber
Abu Dhabi, UAE -- Abu Dhabi’s artificial intelligence (AI) sector witnesses a 61 percent increase between June 2023 and June...
- Globally, there are approximately 90,904 AI companies as of 2024, which places Abu Dhabi’s AI company count as a notable concentration within the global landscape.
- Abu Dhabi Chamber has revealed that over 58 percent of all AI firms in the emirate are dedicated to innovation, research, and consultancy.
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Turkey’s exports to EU rise 4.7 percent to $55 billion in first half
Dubai, UAE -- Turkey's exports to the European Union rose 4.7 percent in the first half of 2026 to $55...
Business
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Alujain widens 2025 loss
Business
Masar 2025 net profit $262m
Business
Tasnee’s 2025 losses deepen
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...
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...
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
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Business
Mubadala, Tubacex operationalise TBX Nexxia platform in Abu Dhabi
Mubadala Investment Company and Tubacex Group have announced the full operational launch of their joint venture in Abu Dhabi, activating...
- The Abu Dhabi facility strengthens regional energy supply chains by localising high-performance tubular manufacturing and reducing dependence on overseas processing centres
- ADNOC anchors the project as cornerstone client, securing long-term CRA tubular supply for critical gas extraction and production operations
Business
2PointZero posts profit surge
Growth driven by merger consolidation.
- Revenue jumps to $2.7 billion as mergers and acquisitions drive expansion across multiple sectors and geographies.
- During the quarter, the company acquired a 60.8% stake in ISEM Packaging Group for $192 million.
Business
Mashreq Q1 profit rises
Total revenue increased 10% year-on-year.
- Mashreq posted first-quarter net profit growth as revenue, lending and deposits expanded strongly year-on-year.
- Non-interest income rose sharply, highlighting diversification as regional geopolitical uncertainty weighed on operating conditions.