Syria processes first international card payment in 15 years
Dubai, UAE -- Syria has processed its first international card payment in more than 15 years, Mastercard and QNB Group...
Business
Gold prices hit highest levels in three months, oil falls
Oil prices fell by more than $1 a barrel on Monday as investors took profits ahead of an expected US...
Business
Geostrategy
Leaders warn race for minerals could turn seabed into ‘wild west’
Growing anxiety over Trump's unilateral push to fast-track deep-sea mining in international waters shot to the surface at the opening...
- The number of countries opposed to seabed mining rose to 36 on Monday, according to a tally kept by the Deep Sea Conservation Coalition, an umbrella group of NGOs.
- Trump was not among the roughly 60 heads of state and government in Nice but his specter loomed large as leaders defended the global multilateralism he has spurned.
Business
MENA Mergers & Acquisitions deal value up 66% in Q1, hits $46 Billion
Dubai, UAE -- The Middle East and North Africa (MENA) region has kicked off 2025 with a record-breaking first quarter...
- According to Saudi M&A Consulting, this robust growth reflects rising investor confidence, favorable regulatory reforms, and strong macroeconomic fundamentals across the region.
- Â Cross-border M&A accounted for 81 percent of total deal value and 52 percent of the total number of transactions, with 117 deals executed, the highest in the last five years.
Business
US aerospace manufacturers insist they have no use for tariffs
New York, United States -- US airlines and aerospace manufacturers insist they have no use for tariff protections, warning that...
- US aerospace and defense exports reached $135.9 billion in 2023, including $113.9 billion for civil aviation alone.
- This allowed the sector to generate a trade surplus of $74.5 billion and to invest $34.5 billion in research and development.
Business
Apple under pressure to shine after AI stumble
Apple will showcase plans for its coveted devices and the software powering them at its annual Worldwide Developers Conference (WWDC)...
- The event comes a year after the tech titan said a suite of AI features it dubbed "Apple Intelligence" was heading for iPhones, including an improvement of its Siri voice assistant
- Industry insiders will be watching to see whether Apple addresses the AI stumble or focuses on less splashy announcements.
Business
Gamers get hold of Nintendo’s hotly awaited Switch 2
Tokyo, Japan -- Gamers finally got their hands on Nintendo's new Switch 2 on Thursday, the console that could score...
- The device, which features a bigger screen and more processing power, is an upgrade to the Switch that became a global phenomenon with hit games such as "Animal Crossing".
- The original Switch has sold 152 million units since its 2017 release, making it the third-best-selling console ever.
Business
Equinor signs $27 bn gas deal
The 10-year contract was signed with Centrica.
- Natural gas accounts for 38% of UK's total energy supply, according to the IEA, making it the top fuel source, and the nation depends heavily on imports.
- Russia's invasion of Ukraine and Western sanctions roiled energy markets, sparking a rise in prices that British consumers are still struggling with.
Business
Israel arms exports to UAE, Bahrain, Morocco rise sharply after 2023
Sales to countries considered part of the Abraham Accords -- the United Arab Emirates, Bahrain and Morocco who signed groundbreaking...
- Israel's defense ministry said that its arms exports hit an all-time high of more than $14.7 billion in 2024, despite international criticism of ongoing Gaza onslaught.
- A majority -- 56.8 percent -- of the deals signed were "mega-deals" valued at at least $100 million each, the ministry said, adding that "operational achievements" in the Gaza war.
Geostrategy
New WEF report reveals how tech convergence will reshape industries
Geneva, Switzerland – The World Economic Forum today released a new report examining how emerging technology combinations are reshaping industries...
- AI is a key enabler, making many emerging tech synergies commercially viable across industries.
- Digital twins, enhanced by AI and sensors, are expanding efficiency in sectors from aerospace to healthcare.
Business
Middle East tourism projected to reach $350 billion by 2030: ATM report
Dubai, UAE – The Middle East’s tourism sector is poised for unprecedented expansion, with a new report predicting a 50...
- Inbound travel from outside the region is set to grow by 13 percent annually up to 2030, while outbound business travel will surge at 9 percent per year.
- China ranks third by value in leisure spending, expected to increase by 130 percent by 2030.
Business
Meta secures nuclear energy in 20-year Illinois plant deal
Washington, United States -- Facebook owner Meta announced Tuesday a 20-year nuclear energy agreement with US-based Constellation Energy to secure...
- The investment marks big tech's latest move to meet surging electricity demand from AI, with Microsoft, Google and Amazon also turning to nuclear power as an energy source.
- Under the deal, Meta's unspecified investment will replace state government subsidies to keep the Clinton Clean Energy Center operating beginning in 2027.
Syria processes first international card payment in 15 years
Dubai, UAE -- Syria has processed its first international card payment in more than 15 years, Mastercard and QNB Group...
Business
Company News
Latest News
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...
Business
Dubai to award $15bn of Al Maktoum Airport projects by end-2026
Dubai, UAE -- Dubai plans to award strategic contracts worth more than AED55 billion ($15 billion) for the expansion of...
Business
Forbes lists Emirates Auction CEO among top CMOs
Dubai, UAE -- Omar Matar Al Mannaei, chief executive officer and chief marketing officer of Emirates Auction, has been named...
Business
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Business
Gold heads for weekly loss as Wall Street gains on easing Iran tensions
Dubai, UAE -- Gold prices fell on Friday and were headed for a weekly loss, while major U.S. stock indexes...
- Dow, S&P 500 and Nasdaq rose after President Donald Trump withdrew threats of military action against Iran.
- Palladium gained about 5% this week, outperforming other precious metals despite broader weakness across the sector.
Business
AI success in life sciences depends on people as much as technology: Bain
Organizations creating the most value from AI are not necessarily those deploying the most technology. Instead, they are redesigning workflows,...
- Organizations achieving the strongest AI outcomes prioritize a handful of enterprise-wide initiatives rather than dispersing resources across numerous experiments.
- Workforce adoption remains the biggest challenge, prompting successful companies to invest heavily in change management, skills development and leadership engagement.
Business
Dubai Islamic Bank prices $1 billion AT1 sukuk after strong demand
Dubai, UAE -- Dubai Islamic Bank (DIB) has priced a $1 billion Additional Tier 1 (AT1) perpetual sukuk after attracting...
- Orders topped $2.3 billion from more than 85 institutional investors across the Middle East, Europe and Asia.
- The perpetual sukuk qualifies as Additional Tier 1 capital and will be listed on Nasdaq Dubai and Euronext Dublin.