Etihad Airways becomes first airline to accept Jaywan payments
Etihad Airways has become the first airline to accept Jaywan, the UAE’s national domestic card scheme, for flight bookings on...
Business
70% Saudization for project management jobs from February 2027
Saudi Arabia's Ministry of Human Resources and Social Development (HRSD), in partnership with the Ministry of Municipalities and Housing (MOMAH),...
Economy
Business
Hermes overtakes LVMH as world’s most valuable luxury group
Paris, France -- French group Hermes overtook LVMH as the world's most valuable luxury company on Tuesday after shares in...
- The market capitalization of Hermes reached 248.6 billion euros ($280.5 billion) at the close of trading in Paris, topping LVMH's 244.4 billion euros.
- LVMH shares sank 7.8 percent a day after the group owned by Europe's wealthiest man, Bernard Arnault, reported a two percent drop in first-quarter sales to 20.3 billion euros.
Travel and tourism sector contributes 11.4 percent to Gulf’s GDP
Muscat, Oman --Â Travel and tourism sector's contribution to the Gulf's GDP by the end of 2024 reached approximately 11.4 percent,...
- The growth rate of the sector's contribution to the Gulf's GDP increased by approximately 31.9 percent compared to the figures recorded in 2019.
- Statistical Centre for the Cooperation Council for the Arab Countries of the Gulf GCC-Stat said the sector's contribution to the global GDP in 2024 amounted to 2.2 percent.
Business
Ajman real estate transactions reach $560 million in March
Ajman, UAE --Â Real estate transactions in Ajman reached AED 2.06 billion ($560 million) in March 2025, marking a significant...
- Omar bin Omair Al Muhairi, Director-General of the Ajman's Department of Land and Real Estate Regulation, said the emirate recorded 1,025 real estate transactions in March.
- Al Muhairi noted that Ajman's real estate market continues to show strong momentum, consistently achieving record figures.
Saudi Arabia’s space economy reaches $8.7 billion in 2024
Riyadh, Saudi Arabia -- The Communications, Space, and Technology Commission (CST) has said that the Saudi space economy reached $8.7...
- The Saudi space market is projected to reach $5.6 billion by 2035, supported by space technologies, while the global space market reached $176 billion in 2024.
- The size of the space market reached $1.9 billion, according to the KSA Space Market 2025 report. Saudi space economy is expected to reach $31.6 billion by 2035.
Business
US exempts several consumer electronics from Trump’s import tariffs
Washington, United States -- The Trump administration has exempted a raft of consumer electronics from its punishing import tariffs --...
- US Customs and Border Protection office said smartphones, laptops, memory chips and other products would be excluded from the global levies President Donald Trump rolled out a week
- The exemptions will benefit US tech companies like Nvidia and Dell, as well as Apple, which makes iPhones and other premium products in China.
Business
EU to probe use of personal data by X’s AI chatbot
Ireland's data protection watchdog, acting on behalf of the European Union, launched an inquiry Friday into the use of personal...
- The probe relates to the processing of personal data comprised in publicly-accessible posts posted on the 'X' social media platform Grok
- As X has its European headquarters in Ireland, the country's data protection commission is the lead regulator in Europe for the social platform
Business
Why investors rush to gold in uncertain economic times?
London, United Kingdom -- Why do investors flock to gold when economic times turn tough? As the precious metal reaches...
- On Friday it struck an all-time high of $3227.51 an ounce in trading, handing the commodity a gain of more than 20 percent since the start of the year.
- In 2024, global central banks together added more than 1,000 tons of gold to their reserves for the third year running, according to the World Gold Council.
Business
Tesla’s first Saudi showroom opens
The opening in Riyadh comes with Tesla sales dropping.
- Saudi Arabia is a key regional ally of Washington, and US President Donald Trump forged close ties during his first term with Crown Prince Mohammed bin Salman.
- However, demand for EVs is relatively low in Saudi Arabia, the world's largest oil exporter which enjoys bargain-basement fuel prices, with a liter costing just $0.62.
Geostrategy
European Union and UAE agree to launch trade deal negotiations
Emirati President Mohammed bin Zayed Al Nahyan "and I just decided to launch negotiations on an EU-UAE free trade agreement,"...
- Sheikh Zayed said that the CEPA would create new avenues for cooperation between the UAE and EU, increase trade and investment flows.
- The EU is the UAE’s second-largest trading partner, accounting for 8.3 percent of the UAE’s total non-oil trade, which hit $67.6 billion in 2024.
Business
Mubadala Energy enters US energy market
Acquires a 24.1% interest in US firm Kimmeridge’s SoTex
- Through SoTex, Kimmeridge is building America’s first integrated gas independent to deliver low-cost natural gas from wellhead to water.
- The deal bolsters Mubadala Energy's growth plans to invest across the gas value chain in key energy hubs around the world.
Etihad Airways becomes first airline to accept Jaywan payments
Etihad Airways has become the first airline to accept Jaywan, the UAE’s national domestic card scheme, for flight bookings on...
Business
Company News
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SpaceX IPO valuation raises concerns over investor demand
SpaceX’s planned initial public offering at a valuation of at least $1.8 trillion is emerging as a major test of...
Business
Visa expands AI-driven payments program across CEMEA region
Visa launched its global Agentic Ready program in the United Arab Emirates on Wednesday, expanding efforts to support artificial intelligence-driven...
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
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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...
- Partnership will target diversified infrastructure assets across energy, transportation, logistics, digital networks, water systems and waste management sectors.
- Investors said accelerating urbanisation and digitisation trends are strengthening long-term infrastructure demand across GCC and Central Asian markets.
Business
UAE executives face growing accountability over AI strategies
A new Dataiku study shows UAE CEOs increasingly view AI performance, governance and accountability as defining measures of leadership success.
- UAE CEOs increasingly fear failed AI strategies could trigger leadership exits, investor pressure and lasting reputational consequences by 2026.
- Boards and investors are intensifying demands for measurable AI outcomes while organizations remain cautious over governance and operational risks.
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