Gold holds near two-week high on tempered Fed rate hike expectations
Dubai, UAE -- Gold was steady near a two-week high on Monday after a softer-than-expected US jobs report last week...
Business
Geostrategy
Investments rise in data, AI, outpacing physical assets: UN
Geneva, Switzerland - The purchase of physical assets was eclipsed last year by a surge in investment in intangible items...
- Intangible investment across 27 high- and middle-income economies grew about three percent in real terms last year, reaching $7.6 trillion, up from $7.4 trillion a year earlier.
- In 2024, the United States led in absolute levels of intangible asset purchases, investing nearly double what runners-up France, Germany, Japan and Britain pumped into such assets.
Business
Nvidia tops $4 trillion as US stocks shrug off latest tariffs
After Congress gave Trump a big win last week with his fiscal package, the Republican's aggressive trade posture has returned...
- But stocks pushed higher nonetheless, with Nvidia jumping 2.5 percent to top $4 trillion in market capitalization on investor bullishness over Artificial Intelligence (AI) growth.
- Briefing.com analyst Patrick O'Hare said investors are not "overly concerned" about Trump's latest tariff threats.
Geostrategy
Trump says ‘no extensions’ to Aug 1 tariff deadline
While Trump imposed a sweeping 10 percent tariff on goods from almost all trading partners in April, higher rates customized...
- On Monday night, Trump had told reporters at a dinner that the August 1 deadline was "firm, but not 100 percent firm."
- Pressed on whether the letters were his final offer, Trump replied: "I would say final -- but if they call with a different offer, and I like it, then we'll do it."
Geostrategy
Dubai Islamic Bank completes $1bn sovereign financing Pakistan
Dubai, UAE -- Dubai Islamic Bank (DIB) has announced the successful completion of a landmark US$1 billion syndicated term-finance facility...
- The five-year facility is an innovative transaction, partially guaranteed by a Policy-Based Guarantee (PBG) from the Asian Development Bank (ADB).
- DIB acted as the Sole Islamic Global Coordinator and alongside Standard Chartered also served as the Joint Mandated Lead Arranger and Bookrunner.
Business
Algeria’s Sonatrach and Italy’s ENI sign $1.35 billion deal
Algiers, Algeria - Algeria's state-run hydrocarbon company Sonatrach and the Italian energy company Eni on Monday signed a production sharing...
- The 30-year contract covers the exploration and exploitation of hydrocarbons in the Zemoul El Kbar contract area, in the Berkine Basin, 300 km east of Hassi Messaoud
- The total investments planned for exploration and exploitation in this area are approximately $1.35 billion, including $110 million allocated to research and exploration
Business
Saudi chocolate industry booms with over 3,500 commercial records
Riyadh, Saudi Arabia -- On the World Chocolate Day, Saudi Arabia's Ministry of Commerce announced that the total number of...
- Riyadh leads the Kingdom in chocolate manufacturing, boasting 1,490 commercial records.
- Saudi Arabia is the region’s biggest market for chocolates and, in 2024, the Kingdom imported a whopping 123 million kg of chocolate.
Business
Eyeing early release, prison inmates produce Bulgaria’s coveted dairy products
Smolyan, Bulgaria -- At a prison nestled deep in Bulgaria's southern Rhodope mountains, Georgi Filyanov stirs a large tank of...
- From tending to herds of goats and cows, to making white cheese, prisoners are involved throughout the entire process.
- Coveted by cheese lovers and often sold out at specialty stores outside prison, production has not been able to keep up with demand.
Business
AI robots pluck weeds in California fields, make up for shortage of laborers
Los Banos, United States -- Oblivious to the punishing midday heat, a wheeled robot powered by the sun and infused...
- As farms across the US face a shortage of laborers and weeds grow resistant to herbicides, startup Aigen says its robotic solution -- named Element -- can save farmers money.
- Element the robot resembles a large table on wheels, solar panels on top. Metal arms equipped with small blades reach down to hoe between crop plants.
Business
‘Wadeem’ sold out for $1.49bn
This is the highest Abu Dhabi real-estate release to date.
- The strong interest in Wadeem is testament to individual and investor confidence in our capabilities, said Bill O’Regan, Group CEO of Modon Holding.
- The launch reinforces Hudayriyat’s position among Abu Dhabi’s most desirable residential destinations, said Ibrahim Al Maghribi, CEO of Modon Real Estate.
Geostrategy
Japan plans ‘world first’ deep-sea mineral extraction from Jan
Tokyo, Japan -- Japan will from January attempt to extract rare earth minerals from the ocean floor in the deepest...
- Earlier this week the country pledged to work with the United States, India and Australia to ensure a stable supply of critical minerals.
- Rare earths -- 17 metals difficult to extract from the Earth's crust -- are used in everything from electric vehicles to hard drives, wind turbines and missiles.
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
Company News
Latest News
AD Ports records $564 million 2025 net profit
The company said revenue grew 20 percent year-on-year to $5.65 billion, while net profit increased 16 percent, supported by strong...
UAE real estate gains momentum on strong 2025 base as Mar sales surge
Dubai, UAE -- The UAE’s real estate sector extended its upward trajectory in March, with robust project launches, steady construction...
Business
Emaar Development to pay $1.1 billion dividend
The dividend represents 100 percent of its share capital. The company reported record property sales of approximately $19.4 billion in...
Business
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Business
Dubai Chambers partners with DP World and Customs to boost logistics resilience
Dubai, UAE — Dubai Chambers, in collaboration with Dubai Customs and DP World, convened a meeting with around 100 private...
- Dubai brings public and private sectors together to address logistics disruptions and ensure smoother trade flows.
- Industry leaders explore practical solutions to enhance efficiency and adapt to evolving global supply chain pressures.
Business
IHC shareholders approve share buyback of up to $1.36 billion
The proposed buyback represents about 0.6% of the company’s total shares. The board of directors has been authorized to take...
- The repurchase will be carried out in coordination with the Securities and Commodities Authority and the Abu Dhabi Securities Exchange (ADX).
- IHC did not provide further details on the timing of the repurchase in the latest disclosure, but the move comes as the conglomerate seeks to enhance shareholder value.
Business
Alujain widens 2025 loss
The increase in loss is due to impairment charges, weaker prices.
- Excluding the impairment, the company would have reported a net profit of SAR 17 million for the year.
- Earnings per share fell to SAR 12.05 per share in 2025, compared with a loss of SAR 0.73 per share in 2024.