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TomTom cuts 300 jobs

The firm said it was realigning its organization as it embraces AI.

Aldar nets $953m in sales at Fahid

Aldar said 42 percent of the buyers are under the age of 45.

Qualcomm to Alphawave for $2.4 bn

The deal makes Alphawave the latest tech company to depart London.

Equinor signs $27 bn gas deal

The 10-year contract was signed with Centrica.

ADNOC Drilling secures $1.15bn contract

The contract for two jack-up rigs begins in the second quarter.
  • US Fed keeps interest rates unchanged in face of Trump criticism

    Fed Chair Jerome Powell told reporters the central bank would make better decisions if it waited a few months to...

    For now, he expects to learn more "over the summer," while officials appear increasingly divided on whether they can cut interest rates at all in 2025.

    The Fed kept the benchmark lending rate between 4.25 percent and 4.50 percent at the end of its two-day meeting, with officials penciling in two rate reductions this year.

  • MENA Brief | June 19: GCC central banks hold interest rates steady, Diriyah House launched in London

    As most currencies in the region are pegged to the US dollar, monetary policy follows the decisions taken in Washington,...

    Saudi-based Cluster2 Airports Company signed a strategic MoU with Airbus. The agreement will see the deployment of the Agnet Turnaround platform across Cluster2’s 22 airports.

    Saudi National Bank (SNB) has issued $1.25 billion in Tier 2 bonds at a 6% profit rate under its $10 billion Euro Medium Term Note program.

  • Asian stocks drop after Fed warning, oil dips with Mideast in focus

    Hong Kong, China - Asian stocks fell Thursday after the Federal Reserve warned Donald Trump's trade war would likely reignite...

    With Trump increasingly calling for the bank to slash rates, Powell said: "We'll make smarter and better decisions if we just wait a couple of months."

    Hong Kong led losses, falling more than one percent, while Tokyo, Shanghai, Sydney, Singapore, Seoul, Wellington, Taipei, Manila and Jakarta were also in the red

  • US Fed set to hold rates steady as it guards against inflation

    Washington, United States - The US central bank is expected to hold interest rates steady Wednesday after its key policy...

    The Federal Reserve has kept the benchmark lending rate unchanged this year at a range between 4.25 percent and 4.50 percent

    Beyond inflation data, policymakers are also trying to keep expectations "anchored," a state in which consumers expect price increases to remain low and steady

  • Trump says EU not offering ‘fair deal’ on trade

    US President Donald Trump said Tuesday that the European Union had yet to offer a "fair deal" on trade, as...

    "We're talking but I don't feel that they're offering a fair deal yet," Trump said of EU speaking to reporters on board Air Force One before returning to the US from G7 meet US

    Shortly after taking office, Trump upended the global economic order by accusing the United States' trading partners of unfair practices and he announced huge global tariffs

  • Cross-border payments and financial inclusion drive stablecoin popularity

    London, United Kingdom -- Stablecoins -- a form of cryptocurrency backed by traditional assets -- are gaining traction, with the...

    Stablecoins play a key role in crypto markets, enabling users to trade digital assets without relying on traditional banks, instead using blockchain.

    Unlike volatile cryptocurrencies like bitcoin, stablecoins track the value of traditional assets -- such as the US dollar or gold -- enabling greater stability.

  • Global oil demand to dip in 2030, first drop since Covid: IEA

    IEA cited sluggish economic growth, global trade tensions, the rise of electric cars and the shift away from crude to...

    Total demand is forecast to reach 105.5 million bpd in 2030 after peaking at 105.6 million bpd in 2029.

    Oil demand dropped dramatically in 2020, when countries locked down and shut their borders during the Covid pandemic, falling to 91.7 million bpd.

  • Oil prices jump after Trump’s warning, stocks extend gains

    Oil prices rallied Tuesday after Donald Trump urged Tehran residents to evacuate, stoking fresh fears of all-out war as Israel...

    Hopes that the deadly conflict can be contained helped most equities rise, while the US president's earlier claim that the Iran wanted to make a nuclear deal also eased fears

    After Friday's surge sparked by Israel's attacks on its regional foe, crude ticked more than one percent lower Monday as traders bet that the battle would not spread

  • Oil prices drop, stocks climb as Iran-Israel war fears ease

    Israel's surprise strike against Iranian military and nuclear sites on Friday -- killing top commanders and scientists -- sent crude prices...

    However, concerns over the conflict spreading appeared to have receded, with both main oil contracts retreating 3.7 percent.

    Analysts said the recent decision by the OPEC+ group of crude producing nations, led by Saudi Arabia and Russia, to raise output again in July also played a role.

  • MENA Brief – June 16: Netanyahu eyes Gaza breakthrough, Iran rejects talks, Trump at G7, UAE oil giant bids big

    Israeli Prime Minister Benjamin Netanyahu says there’s a fresh opening to free hostages held in Gaza, backing a US-mediated proposal...

    In major energy news, Abu Dhabi’s state-owned oil company has launched an $18.7 billion takeover bid for Australia’s Santos, offering a 28% premium

    The UAE’s economic momentum remains strong: its GDP grew 4% in 2024 to AED1.77 trillion, driven by a 5% rise in non-oil sectors