Emerson to build new automation solutions service center in Qatar
Emerson, a global automation solutions company, said on Wednesday it plans to build a new solutions service center in Qatar's...
Business
Qatar launches platform to manage wealth fund domestic portfolio
Qatar’s new investment platform will manage the wealth fund’s domestic portfolio as Doha targets $60 billion in infrastructure and private...
Business
Business
Abu Dhabi awards contract for mega solar project
Dubai, United Arab Emirates -- Abu Dhabi, the capital of leading oil producer the United Arab Emirates, said Friday it...
- The 1.5-gigawatt Khazna Solar PV plant, expected to have nearly three million solar panels, will avert more than 2.4 million tons of carbon emissions per year,
- Engie and Emirati renewable-energy company Masdar won the contract to build the plant and sell EWEC the electricity.
Business
Silver price hits decades high as gold rush eases
Stock markets, meanwhile, were mixed as traders weighed a slew of issues: massive AI investments, corporate results, US interest rates,...
- The price of silver topped $50 an ounce for the first time since 1993 in the wake of sister safe-haven gold soaring to record highs.
- The metal hit $50.1900, while gold retreated after hitting a record above $4,000 an ounce on Wednesday.
Business
Gold tops $4,000 for first time on political, economic worries
US and European stock markets mostly rose while Asian equities fell as investors also kept tabs on the AI investment...
- Parts of the US government began to close last week after Democrats and President Donald Trump failed to break a deadlock over spending.
- Tech firms led selling in Asia, with Alibaba and JD.com down in Hong Kong, chip-maker TSMC dropping in Taipei and Renesas sharply lower in Tokyo.
Business
Multiply Group buys stake in ISEM
Multiply Group will hold 60.8% of ISEM.
- Peninsula Capital and minority investors will own the remaining 39.2 percent.
- The deal represents an expansion into packaging by Multiply Group, establishing the Group’s fifth consumer-focused vertical.
Business
GITEX25: G42 to host fireside chat with OpenAI CEO Sam Altman
Abu Dhabi, UAE – G42, the Abu Dhabi-based technology group, Wednesday announced its participation at GITEX Global 2025 with the...
- The G42 District will serve as a one-stop destination for government officials, business leaders, and visitors to explore how AI is being operationalized across sectors.
- It will feature G42’s full portfolio of companies - including Core42, Khazna, M42, Presight, CPX, Inception, Space42, AIQ, AstraTech and Analog.
Economy
WTO hikes 2025 trade growth outlook but tariffs to bite in 2026
The WTO raised its forecast for trade volume growth in 2025 to 2.4 percent -- up from 0.9 percent in...
- In an unusual move, the global trade body has revised its estimates several times this year due to uncertainties surrounding the new tariffs imposed by the Trump administration.
- Since returning to office in January, Trump has slapped several waves of new tariffs on imports entering the United States.
Business
Ajman records $808 million in real estate transactions in September
Ajman, UAE -- Real estate transactions in Ajman reached AED 2.97 billion in September, achieving a remarkable growth of 53...
- The number of real estate transactions during September reached 1,739, while the number of real estate tradings reached 1,393, with a total value exceeding AED1.87 billion.
- A total of 241 mortgage transactions were registered, with a total value exceeding AED474 million.
Business
Tech leaders unite to propel future-critical sectors at GITEX GLOBAL 2025
Dubai, UAE: With capabilities of AI advancing every year, its potential to address challenges once thought unsolvable is rapidly expanding,...
- The event brings together the world’s most advanced AI and tech enterprises and leaders from 180 countries, from 13-17 Oct at Dubai World Trade Centre.
- Expand North Star celebrates its 10th edition from 12-15 October at Dubai Harbour.
Business
OpenAI signs multi-billion dollar chip deal with AMD
New York, United States -- OpenAI signed a multi-year partnership Monday with chipmaker Advanced Micro Devices as the ChatGPT-maker continues...
- The companies announced the plan to develop AI data centers that the chipmaker said would bring in tens of billions of dollars in new revenue over the next five years.
- AMD's share price surged 35 percent when markets opened on news of the agreement that would see the company deliver six gigawatts worth of chips to the ChatGPT-maker.
Opinion
What the world can learn from the Middle East’s wellness vision
Across the region, countries are aligning national visions with real investment in health, longevity, and quality of life.
- The UAE’s wellness economy surged by 58 percent, reaching $34.1 billion—the largest in the MENA region and one of the fastest-growing markets globally.
- The Middle East is showing the world what’s possible when wellness is built into the foundation, not bolted on after the fact.
Emerson to build new automation solutions service center in Qatar
Emerson, a global automation solutions company, said on Wednesday it plans to build a new solutions service center in Qatar's...
Business
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SIB H1 profit up 15.3%
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Business
Alphabet and Tesla in focus as markets demand more from Big Tech
"Three months ago investors were comfortable funding aggressive AI investment," Gilbert added. "Today they're asking tougher questions. Markets now want...
Analysis
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Business
ADNOC Okays $6.2bn Umm Shaif project to expand UAE supply
Dubai, UAE -- Abu Dhabi National Oil Company (ADNOC) has approved a final investment decision (FID) worth $6.2 billion to...
- Umm Shaif Gas Cap project will produce over 600 million scfd of gas by 2030, boosting UAE energy security significantly.
- Project includes $5.1 billion EPC contracts and $365 million drilling programme executed by ADNOC Drilling over 18 months.
Business
Awqaf Dubai investment portfolio market value rises to $402 million
Dubai, UAE -- Dubai's Endowment and Minors' Trust Foundation (Awqaf Dubai) said on Monday the market value of its securities...
- The portfolio's cost value increased 16.6 percent year-on-year to AED1.398 billion, while its market value rose 5.5 percent, or AED76.5 million.
- Awqaf Dubai said it made new investments worth AED285.1 million during the first six months of the year, up 150.7 percent from the same period a year earlier.
Business
Sanad posts record revenue
Growth driven by global demand for services.
- Company expanded engine portfolio to 17 assets and increased annual workforce 44 percent as it broadened aerospace capabilities.
- Sanad invested over $218 million in infrastructure, including new repair and testing facilities, to support long-term aviation growth.