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ADNOC Drilling closes JV

It is a JV between ADNOC Drilling, SLB and Patterson UTI.

Boeing to boost 787 production

The firm will invest$1bn to ramp up production in South Carolina.

ADNOC signs deal with PETRONAS

Under the agreement, ADNOC will supply 1m tons of LNG per year.

Aramco-Horse Powertrain deal completed

An agreement for the purchase of 10% equity stake was signed in June 2024.

Roche to buy Poseida Therapeutics

The $1.5 billion deal is due to close in early 2025.

Avia to buy 40 Boeing aircraft

The transaction for the purchase of 737 MAX 8 jets valued at $4.9bn.
  • Avia's first firm order with the aviation giant comes with an option to add another 40 jets later, Boeing and Avia said in a statement.
  • The purchase announcement came shortly after striking workers at Boeing last week approved a new contract proposal, ending a more than seven-week stoppage that cost it billions

Saudi crown prince demands Gaza, Lebanon ceasefires at Arab summit

Prince Salman also called on Israel not to attack Iran, highlighting improving ties between Saudi Arabia and its former regional...
  • Prince Mohammed bin Salman said the international community must "immediately halt the Israeli actions against our brothers in Palestine and Lebanon".
  • A draft resolution for the summit stresses "firm support" for "national rights" for the Palestinian people, "foremost among which is their right to freedom".

Arab, Muslim leaders fly to Saudi Arabia for talks on Gaza, Lebanon

Riyadh, Saudi Arabia -- Arab and Muslim leaders have begun arriving in Saudi Arabia for a summit scheduled for Monday that...
  • The Saudi foreign ministry announced the summit in late October during the first meeting of an "international alliance" pushing for a two-state solution.
  • The 57-member OIC and 22-member Arab League include countries that recognize Israel and those firmly opposed to its regional integration.

Bitcoin hits $80,000 for the first time on Trump return optimism

London, United Kingdom -- Bitcoin soared to a new record high on Sunday, as traders bet that Donald Trump's return to...
  • It has been rising since Republican candidate Trump won last Tuesday's US presidential election over sentiment that he will ease regulations on digital currencies.
  • During his first presidency Trump referred to cryptocurrencies as a scam, but has since radically changed his position, even launching his own platform for the unit.

Global food prices reach 18-month high, vegetable oil cost soars

Paris, France -- Global food prices rose in October to their highest level in 18 months, with a sharp increase in...
  • The FAO Food Price Index, which tracks monthly changes in international prices of a basket of food commodities, reached 127.4 points last month, a 2% increase from September.
  • It was the highest since April 2023 but still 20.5 percent lower than the peak reached in March 2022 following Russia's invasion of agricultural powerhouse Ukraine.

UN probe says women, children comprise the majority of Gaza war dead

In a fresh report, the United Nations Human Rights Office (OHCHR) detailed a raft of violations of international law. Many...
  • "Civilians in Gaza have borne the brunt of the attacks, including through the initial 'complete siege' of Gaza by Israeli forces," the UN said.
  • "Conduct by Israeli forces has caused unprecedented levels of killings, death, injury, starvation, illness and disease."

Emirates half-year profit $2.5bn

The record profit is subject to new 9% corporate tax for the first time.
  • The airline group, operating from the world's busiest airport for international traffic, has faced regional disruptions due to the conflicts, but has expanded its network elsewhere
  • Group revenue rose 5.0 percent to $19.3 billion on "consistently strong customer demand across business divisions, and across regions", the statement said.

Trump victory reflects Arab-American support, Netanyahu discusses Iran with him amid lingering regional conflict

In a unique campaign twist, Trump captured Muslim voters by pledging diplomacy, promising to end prolonged conflicts and promote stability,...
  • His new Muslim supporters are celebrating his victory and confident he will deliver despite Israel, led by his close ally Benjamin Netanyahu
  • But during this campaign, Trump touted his status as Israel's strongest friend, saying Biden should let Israeli Prime Minister Netanyahu "finish the job" against Hamas in Gaza

Lulu’s IPO raises $1.72bn

The proceeds make it the largest UAE IPO of 2024 to date.
  • The Offering achieved aggregate demand of over AED135 billion ($37 billion) from local, regional, and international investors.
  • This is a record for a non-Government UAE IPO over the past 10 years, with the IPO oversubscribed by more than 25 times across all tranches (excluding Cornerstone Investors).

What impact will Donald Trump have on the world economy?

Paris, France -- Donald Trump's return to the White House with his protectionist policies poses threats for the global economy, with...
  • During his first term in office from 2017 to 2021, Trump often resorted to punitive tariffs in disputes with trade partners.
  • Donald Trump's policies could also rekindle inflation, which cooled following a series of interest-rate hikes that the Federal Reserve began to unwind this year.

Turkey’s Pegasus Airlines says to buy 200 Boeing 737 aircraft

Istanbul, Turkey -- Turkey's Pegasus Airlines said Thursday it would buy 200 Boeing 737 MAX 10 aircraft in its largest-ever order...

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Qatar PM sees ‘momentum’ on Gaza talks after US election

Doha, Qatar - Qatar's prime minister said on Saturday that momentum had returned to talks aimed at securing a truce and...

Vegetable oil pushes global food prices to seven-month high in Nov

Rome, Italy -- The benchmark for world food commodity prices rose in November to its highest level since April 2023,...

Abu Dhabi’s Hub71 startups secure $1.90 billion in funding, says CEO

Abu Dhabi, UAE -- Startups within Hub71, Abu Dhabi's global tech ecosystem, have secured over AED 7 billion in funding,...

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Bitcoin passes $100,000 mark for first time, outshining wavering stock markets

Donald Trump, who has vowed to make the US the 'bitcoin and cryptocurrency capital of the world' wrote 'Congratulations Bitcoiners...You're...
  • The digital asset has now soared more than 50 percent since the election of Donald Trump, who has vowed to make the US the "bitcoin and cryptocurrency capital of the world."
  • The historic level was broken after Trump picked crypto proponent Paul Atkins to take over as chair of the Securities and Exchange Commission, the markets regulator.

OECD warns of protectionism weeks before Trump return

While the organization raised its 2025 global growth forecast to 3.3 percent, it cautioned that "greater trade protectionism, particularly from...
  • Trump has threatened blanket tariffs of at least 10% on all imports and since his election has vowed to slap 25% import tariffs against Canada and Mexico, the US trade partners.
  • "Increases in trade-restrictive measures could raise costs and prices, deter investment, weaken innovation and ultimately lower growth," the OECD warned in its economic outlook.

France, Saudi Arabia to co-chair June meet on creating Palestinian state: Macron

The French president said they want to involve both European and non-European allies who are ready to move in this...
  • Macron said that France and Saudi Arabia have the "will to move forward" on a deal to sell Rafale fighter jets to the Kingdom.
  • Discussions had already been underway for Riyadh to acquire the French-made jets and, though no definitive announcement was expected during Macron's visit.