Lab-grown diamonds robbing southern Africa of riches
Johannesburg, South Africa -- Botswana and southern African peers that built much of their prosperity on diamonds are scrambling for...
Business
Stock markets strike records despite geopolitical unrest
Gains for oil prices were relatively modest, while gas futures were unmoved after Israel's strikes Tuesday against Hamas in gas-rich...
Business
Business
IHC H1 net profit $2.94 billion
The company posted 31% increase in revenue.
- The second quarter of 2025 delivered one of the Group’s strongest quarterly performances, with revenue rising 22.5 percent year-on-year to AED27.5 billion.
- Revenue growth was supported by solid contributions from core operating segments, it said.
Business
Neo Space Group launches Saudi Arabia’s first earth observation marketplace
Riyadh, Saudi Arabia -- Neo Space Group (NSG), a Public Investment Fund (PIF) company, has announced the launch of the...
- NSG stated that the EO Marketplace will bring together a growing network of EO data providers and value-added service providers offering advanced geospatial analytics
- The platform is built to empower public sector agencies, Saudi companies, and international users by offering a wide range of high-resolution satellite imagery
Business
Tesla approves $29 bn in shares to Musk as court case rumbles on
Washington, United States -- Tesla announced an "interim" compensation award worth about $29 billion for Elon Musk on Monday, asserting...
- The award comes as Tesla challenges a Delaware court ruling that struck down a 2018 package of about $55.8 billion.
- The move comes amid a fierce battle for top engineering talent as companies like Google and Meta compete for leadership on artificial intelligence.
Business
Jordan sees decrease in number of tourists over Gaza war
Amman, Jordan -- Jordan has seen a decrease in the number of tourists visiting its famed ancient city of Petra...
- According to figures from the Petra tourism authority carried by official media, 32 hotels have had to shut down and nearly 700 people have lost their jobs.
- Petra, famous for its stunning temples hewn from rose-pink cliff faces, is a UN World Heritage site.
Business
24 Dubai real-estate projects worth $1.22bn completed in H1
Dubai, UAE -- The first half of 2025 saw the completion of 24 real estate projects valued at AED 4.5...
- This momentum is part of a wider growth trajectory, with 726 projects currently under construction across the emirate.
- Dubai’s real estate market registered 90,337 new real estate units during the first half of the year.
Economy
Alpha Dhabi H1 profit $1.79bn
Adjusted EBITDA rises to $2.36bn.
- The group’s financial position remains robust, with total assets of AED198.4 billion and equity of AED98.1 billion.
- This quarter, Alpha Dhabi Holding and four of its portfolio companies featured in the Forbes Top 100 Listed Companies in the Middle East 2025.
Business
Borouge Q2 net profit $193m
The H1 revenue stood at $2.72 billion.
- Adjusted EBITDA for the second quarter was $440 million.
- The company has proposed an increased minimum interim dividend of 8.1 fils per share for H1.
Business
Saudi Arabia’s real GDP up by 3.9 percent in Q2 2025: GASTAT
Riyadh, Saudi Arabia -- Saudi Arabia's real Gross Domestic Product (GDP) grew by 3.9 percent in the second quarter of...
- Flash estimates of GDP for Q2 say non-oil activities recorded the highest growth at 4.7 percent.
- The estimates, released by GASTAT, said oil activities grew by 3.8 percent and government activities at 0.6 percent.
Business
Microsoft valuation surges above $4 trillion as AI lifts stocks
Shares of Microsoft vaulted 5.3 percent after it reported $27.2 billion in quarterly profits as it touted massive investments in...
- About 25 minutes into trading, the tech-rich Nasdaq Composite Index was up 1.3 percent at 21,396.04.
- The gains came as President Donald Trump announced a trade deal with South Korea that imposes a 15 percent tariff on imports from the Asian country.
Arts & Culture
Thousands of carpets sunbathe at Turkish resort
From June-Sept, in harvested fields cleared of stubble, merchants bring their cargo to age in the sun, tempering the bright...
- In the past, up to 60,000 carpets were processed in each three month drying season in the Dosemealti district.
- But today he is one of the last ones to do so, with around 15,000 carpets stored side by side on a 40-hectare (100 acre) area.
Lab-grown diamonds robbing southern Africa of riches
Johannesburg, South Africa -- Botswana and southern African peers that built much of their prosperity on diamonds are scrambling for...
Business
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China manufacturing shrinks in August despite new US trade truce
Beijing, China -- China's factory output ticked up in August but still recorded a fifth straight month of contraction, official...
Economy
UAE continues to attract major global companies for new headquarters
Dubai, UAE -- The United Arab Emirates has continued to attract global companies looking to establish regional or global headquarters....
Business
New wave: Sea power turned into energy at Los Angeles port
San Pedro, United States -- Floating blue paddles dance on the waves that lap a dock in the Port of Los...
Science
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Business
Labubu fans flock to stores after launch of mini dolls
Beijing, China -- A dozen furry dolls strung together on a metal chain dangled from Labubu fan Maki Li's neck...
- Made by Chinese toymaker Pop Mart, the fanged creatures have taken the world by storm, adorning the handbags of celebrities such as Rihanna and Dua Lipa.
- Last month, commerce minister Wang Wentao used the toothy-grinned dolls as an example of "new forms of consumption.
Ajman records real-estate deals worth $381 million in July
Ajman, UAE -- Real estate transactions valued at AED 1.48 billion ($381 million) were recorded in Ajman in July 2025....
- Commercial properties accounted for the largest share of the total valuation value at AED943 million.
- Residential properties amounted t AED198 million, while industrial properties ranked third with a total of AED336 million.
Economy
Saudi non-oil exports increase by 17.8 percent in second quarter
Riyadh, Saudi Arabia -- Saudi Arabia’s non-oil exports rose by 17.8 percent in the second quarter of 2025, according to...
- The increase included a 46.2 percent rise in re-exports, while national non-oil exports excluding re-exports grew by 5.6 percent.
- In Q2 2025, a 15.8 percent decline in oil exports dragged total merchandise exports down by 7.3 percent year-on-year.