Accenture, AWS sign six-year Middle East cloud, AI, data deal
Accenture has signed a six-year strategic collaboration agreement with Amazon Web Services (AWS) to help organizations across the Middle East...
Business
As AI joins the workforce, who gives it authority?
The first generation of enterprise generative AI largely answered questions, summarised documents and produced content. A human usually remained responsible...
Opinion
Mashreq Q1 profit rises
Business
TECOM profit climbs
Business
Business
Tesla expected to launch long-discussed robotaxi service, will use Model Y
New York, United States -- Tesla is expected to begin offering robotaxi service Sunday in Austin, an initial step that...
- The launch will employ the Model Y sport utility vehicle rather than Tesla's much-touted Cybercab, which is still under development.
- The long-awaited launch follows the dramatic meltdown earlier this month in relations between Musk and Trump, which saw a cascade of bitter attacks from both men.
Geostrategy
Aldar nets $953m in sales at Fahid
Aldar said 42 percent of the buyers are under the age of 45.
- Nearly 42 percent of buyers are under the age of 45, signaling growing demand for luxury wellness-focused living among younger demographics.
- Notably, 67 percent of buyers are first-time Aldar customers, demonstrating Aldar’s expansive reach and the appeal of the Group’s thoughtfully curated destinations.
Geostrategy
MENA Brief | June 19: GCC central banks hold interest rates steady, Diriyah House launched in London
As most currencies in the region are pegged to the US dollar, monetary policy follows the decisions taken in Washington,...
- Saudi-based Cluster2 Airports Company signed a strategic MoU with Airbus. The agreement will see the deployment of the Agnet Turnaround platform across Cluster2’s 22 airports.
- Saudi National Bank (SNB) has issued $1.25 billion in Tier 2 bonds at a 6% profit rate under its $10 billion Euro Medium Term Note program.
Opinion
How travel brands can target high-intent travelers in the MEA region
As tourism booms across the Middle East and Africa, travel brands face fierce competition. Success now means using data-driven, personalized...
- In a region defined by rapid digital adoption and evolving traveler expectations, the brands that thrive will be those that treat marketing as a journey, not a destination.
- Targeting high-intent travelers is no longer about one-off bookings or flash sales—it’s about long-term relationships, built through continuous, relevant engagement.
Business
Cross-border payments and financial inclusion drive stablecoin popularity
London, United Kingdom -- Stablecoins -- a form of cryptocurrency backed by traditional assets -- are gaining traction, with the...
- Stablecoins play a key role in crypto markets, enabling users to trade digital assets without relying on traditional banks, instead using blockchain.
- Unlike volatile cryptocurrencies like bitcoin, stablecoins track the value of traditional assets -- such as the US dollar or gold -- enabling greater stability.
Business
Oil prices drop, stocks climb as Iran-Israel war fears ease
Israel's surprise strike against Iranian military and nuclear sites on Friday -- killing top commanders and scientists -- sent crude prices...
- However, concerns over the conflict spreading appeared to have receded, with both main oil contracts retreating 3.7 percent.
- Analysts said the recent decision by the OPEC+ group of crude producing nations, led by Saudi Arabia and Russia, to raise output again in July also played a role.
Business
WhatsApp introduces first major advertising features
San Francisco, United States -- WhatsApp announced Monday it will introduce its boldest advertising features yet, marking a significant shift...
- The move is a sensitive one for WhatsApp, whose chief firmly denied a report in 2023 that said the Meta-owned app was exploring advertisements as it sought to boost revenue.
- Unlike Facebook, Instagram, and other social platforms, WhatsApp has maintained minimal advertising since Meta acquired it in 2014.
Business
Abu Dhabi state oil firm makes US$18.7 billion bid for Australia’s Santos
Sydney, Australia - Abu Dhabi's state-owned oil company is leading a takeover bid for Australian energy group Santos, valuing it...
- Santos's board said it plans to unanimously recommend the Abu Dhabi National Oil Company's offer to shareholders if it can agree on the takeover terms
- Adelaide-based Santos has energy operations in Australia, Papua New Guinea, East Timor and the United States, and is a major supplier of liquefied natural gas in Australia and Asia
Economy
Boeing lowers 2044 global air fleet outlook amid supply chain woes
New York, United States -- The global commercial aviation fleet will stand just under 50,000 planes in 2044, with most...
- The global commercial aviation fleet will stand just under 50,000 planes in 2044, with most built over the next 20 years, according to a Boeing forecast released Saturday.
- The global fleet will nearly double to 49,600, a bit below Boeing's prior annual outlook, the company said ahead of the giant Paris Air Show beginning Monday.
Business
Saudi EXIM Bank signs MoU with Credit Oman to boost bilateral exports
Copenhagen, Denmark -- The Saudi Export-Import Bank (Saudi EXIM) participated as a sponsor of the TXF Global 2025 conference held...
- Saudi EXIM participated as a sponsor of the TXF Global 2025 conference held in Copenhagen, Denmark, from June 10 to 12.
- Saudi EXIM Bank is a reliable partner in the global trade ecosystem, said CEO Eng. Saad bin Abdulaziz AlKhalb.
Accenture, AWS sign six-year Middle East cloud, AI, data deal
Accenture has signed a six-year strategic collaboration agreement with Amazon Web Services (AWS) to help organizations across the Middle East...
Business
Company News
Latest News
Saudi Arabia cuts US Treasury holdings by $9.5 billion in April
Dubai, UAE -- Saudi Arabia reduced its holdings of U.S. Treasury securities by $9.5 billion in April to $140.1 billion,...
Business
Saudi tourist arrivals rise to 122.6 million in 2025, spending hits $81 billion
The growth was driven primarily by domestic travel, which reached 93.3 million tourists, up 8.3% from 2024, while inbound visitor...
Business
AD Ports launches UAE-Iraq integrated logistics service
Dubai, UAE -- AD Ports Group has launched an integrated logistics service linking the UAE's Khalifa Port with Iraq's Umm...
Business
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Business
Gold extends winning streak as oil and dollar weaken
The U.S. Dollar Index fell to 99.53, giving back part of the gains it had recently recorded on safe-haven demand....
- Other precious metals also moved higher. Spot silver gained 0.3% to $70.38 an ounce, platinum rose 0.5% to $1,812.80, and palladium added 0.3% to $1,355.65.
- Brent crude futures fell 16 cents, or 0.2%, to $78.80 a barrel by 0340 GMT, while U.S. West Texas Intermediate crude slipped 25 cents, or 0.3%, to $75.80 a barrel.
Business
Saudi Arabia’s residential market weakens in Q1 despite price gains
The slowdown was most pronounced in Riyadh, where transaction volumes and values dropped 82% from a year earlier. Activity also...
- Residential transaction volumes fell 50% year-on-year to 29,490 deals during the quarter, while the value of transactions declined 57% to SAR22 billion ($5.9 billion).
- Riyadh Grade A office occupancy held at 97%, supported by limited supply of high-quality workspace.
Business
Etihad enters largest summer season with more than 300 daily flights
Dubai, UAE -- Etihad Airways is entering its largest summer season on record, operating more than 300 flights a day...
- Airline launched four new destinations in four days and is restoring five seasonal routes across Europe and Africa.
- Fleet has expanded by 23 aircraft year-on-year, supporting near-record passenger loads approaching 90% occupancy levels.