Search Site

Maaden raises $1.25bn in sukuk offering

The Sukuk were offered in a five-year and a 10-year tranche.

DAE net profit up 36.2%

Revenues grew by 9 percent to $1.42bn from $1.31bn in 2023.

Borouge 2024 net profit $1.24bn

The company said it will maintain a $1.3bn dividend for 2025.

ADQ, Orion to establish JV

The partners commit to deploying $1.2bn in the next four years.

Alpha Dhabi acquires interest in NCTH

The deal increases NCTH's portfolio to 8 hotels with 1,500 keys.

Gold breaks above $2,700 to record high as geopolitical uncertainty heightens

Gold bullion bars are pictured after being inspected and polished at the ABC Refinery in Sydney on August 5, 2020. AFP
  • Bullion hit an all-time high of $2,704.89 in early Asian trade, up from its previous record of $2,688.83 touched on Thursday
  • Markets have been on edge over the crisis in the Middle East as Israel battles Hamas in Gaza and, more recently, Hezbollah in southern Lebanon

Hong Kong, China – Gold prices hit a record high above $2,700 on Friday as traders piled into the safe-haven commodity at a time of heightened geopolitical uncertainty, including in the Middle East after Israel said it killed Hamas chief Yahya Sinwar.

Bullion hit an all-time high of $2,704.89 in early Asian trade, up from its previous record of $2,688.83 touched on Thursday.

Markets have been on edge over the crisis in the Middle East as Israel battles Hamas in Gaza and, more recently, Hezbollah in southern Lebanon, with worries about a region-wide war that could take in Iran.

Gold had already been rallying — piling on around 30 percent since the turn of the year — on the back of central banks’ moves to cut interest rates, which makes the commodity a more attractive asset to investors.

Concerns about the long-running war in Ukraine have added to the desire for safer investments.