May 2025 Islamic Treasury Sukuk auction attracts bids worth $1.88bn

• The total bids received reached AED 6.93 billion ($1.88bn), reflecting an oversubscription rate of 6.3 times.
• The auction results highlighted competitive, market-driven pricing with a Yield to Maturity (YTM) of 3.99 percent for the May 2027 tranche and 4.06 percent for the May 2030 tranche

Ads pressured to evolve as AI changes Google search

• The internet giant is dabbling with ads in its new AI Mode for online search, a strategic move to fend off competition from ChatGPT.
• A new AI Mode enables conversational interaction with Google during search queries, providing answers in diverse formats, such as video, audio or graphs.

Turkey says increasing energy exports to war-torn Syria

• Syria's Islamist authorities, who toppled Bashar al-Assad in December, are seeking to rebuild the country's infrastructure and economy after almost 14 years of civil war.
• The conflict badly damaged Syria's power infrastructure, leading to cuts that can last for more than 20 hours a day.

Cyberattack to cost UK retailer Marks & Spencer $404 million

• Marks last week revealed that some personal data of its customers had been stolen in a cyberattack that has crippled its online services for weeks.
• The news came as Marks on Wednesday reported operating profit before adjusting items of  £985 million for its financial year to the end of March.

Oil prices jump on report of Israel prepping Iran strike

• There are fears that such a sharp escalation could tip the Middle East into a war, with tensions already high over Israel's strikes on Gaza.
• While safe haven gold pushed higher, the news from CNN appeared to be having little detrimental effect on Asian equities, with most extending the previous day's rally.

Etihad Q1 profit $187 million

• Total revenue saw a 15 percent rise compared to Q1 2024, supported by both passenger and cargo business.
• With nearly 20 million passengers carried over the last 12 months, Etihad is the fastest-growing airline in the region.

Yalla Group Q1 revenue $83m

The New Travel Mindset: Local Living and Smarter Tech

• Japan, Korea, Singapore, Malaysia, and Thailand are growing heavily from this region as connectivity improves.
• Europe remains strong, but even in Europe, they're exploring more. Before, it was much more London only.

Nvidia unveils plan for Taiwan’s first ‘AI supercomputer’

• Taiwan produces the bulk of the world's most advanced chips, including those needed for the most powerful AI applications and research.
• TSMC, the Taiwanese contract chipmaking giant, has unveiled plans to inject an additional US$100 billion into the United States, on top of the US$65 billion already pledged.

Qatar Airways annual profit $2bn

• Qatar Airways Cargo, the group's air freight service, saw revenues increase by 17 percent on the year before, the airline said.
• In 2024, the Qatari airline reported a $1.7 billion net profit following an annual increase of 39 percent, another record.