Search Site

Trends banner

‘Wadeem’ sold out for $1.49bn

This is the highest Abu Dhabi real-estate release to date.

Tesla Q2 sales down 13.5%

Shares rally after the disclosure, better than some forecasts.

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.

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

Israeli civil defense and emergency responders conduct nighttime search and rescue operations among damaged buildings following a missile strike by Iran in Qiryat Gat, Israel on June 15, 2025. AFP
  • 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

Dubai, UAE – Israeli Prime Minister Benjamin Netanyahu says there’s a fresh opening to free hostages held in Gaza, backing a US-mediated proposal for a 60-day ceasefire as Israel continues its unprecedented military exchange with Iran. Meanwhile, Iran has told mediators Qatar and Oman it will not negotiate while under Israeli attack, halting nuclear talks planned in Muscat.

US President Donald Trump is due to arrive in Canada’s Kananaskis for a G7 summit where leaders are weighing a united call to de-escalate the Israel-Iran crisis.

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. Santos’s board supports the deal if terms are finalised and no better offer emerges, highlighting the UAE’s push for strategic global energy assets.

A new S&P report warns that foreign direct investment inflows into the GCC may slow in 2025 due to weaker oil prices and shifting US trade policy, despite continued interest in renewables and tourism.

Separately, UAE President Sheikh Mohamed bin Zayed and UK Prime Minister Keir Starmer spoke by phone, stressing the need to ease tensions and boost regional stability.

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, which now make up over 75% of the economy. The country stays on track to reach its AED3 trillion GDP target by 2031.