Saudi Arabia’s ZATCA extended its “Cancellation of Fines and Exemption from Financial Penalties” initiative until December 31
Latest News
GCC banking
GCC banks post strong H1 2025 results with 13.2% ROE despite margin pressure
GCC banks delivered solid H1 2025 results with 13.2 per cent ROE, stronger asset quality and capital, but face tighter liquidity
Abu Dhabi economy
Abu Dhabi GDP hits $83.4bn in Q2 2025 as non-oil economy surges 6.6%
Abu Dhabi GDP reached $83.4bn in Q2 2025, with non-oil activity up 6.6% to a record $47.4bn, led by manufacturing and finance
Abu Dhabi
China EV slowdown frees up supply, floods Gulf with more car models at sharper prices in UAE, Saudi
Excess Chinese factory capacity unlocks Gulf EV boom as Saudi sales jump 1000%, penetration doubles regionwide
Ras Al Khaimah
Ras Al Khaimah real estate surges 855% in eight years to $3.56bn
The Ras Al Khaimah real estate market soared 855 per cent to $3.56bn in Q1 2025, driven by mortgages and finance-backed ownership
Capital Market Authority (CMA)
Saudi Arabia mulls opening Main Market to all foreign investors in landmark reform
Saudi Arabia’s CMA launches consultation to open its Main Market to all foreign investors, ending QFI rules and swap agreements
Dubai
Emirates, flydubai sign digital payment deals with Dubai Finance to boost new Cashless Strategy
Dubai attracted 18.7 million tourists in 2024, with cash-reliant travellers representing the emirate’s potential for digital payment adoption
Dubai
Meet the ‘Tomato Man’ taking over Dubai’s fine dining scene with premium produce
The H Formula founder Yassine Azzouni turned job loss into opportunity, solving a problem for Dubai’s top chefs
Africa
London court confirms Djibouti acted illegally in DP World terminal seizure
The company is still owed $685 million, while $1 billion claims against Djibouti’s government and China Merchants continue
Dubai
FIVE Holdings secures $460 million facililty to fund global expansion
The group plans to invest $500 million over the next two years, strengthening its footprint in Dubai and Ibiza and expanding into the US and Asia
Dubai
Marriott International, Shamal Holding to open EDITION Hotel and Residences at Dubai Harbour
The Dubai Beach EDITION will mark the first EDITION residences in the Middle East, according to the companies
Microsoft
Nadella ‘reinvents’ Microsoft by naming new CEO to run commercial business
Judson Althoff, Chief Commercial Officer, gets an expanded role as CEO of commercial business; Nadella to focus on tech
Abu Dhabi
Abu Dhabi’s NMDC Group secures $610mn contract in the Philippines
Awarded dredging and reclamation works as part of the development of the Harbor City Project in Pasay City, Manila Bay
Abu Dhabi
Silal, Limagrain to develop abiotic resilience and crop genomics centre in Al Ain
Crops produced will have the ability to withstand extreme conditions such as heat and salinity, and new varieties developed will be more productive and sustainable
Abu Dhabi
Rose, Robertson among NBA legends to attend fan events in Abu Dhabi
Will also be a part of The NBA Abu Dhabi Games 2025 presented by ADQ this week, featuring New York Knicks and Philadelphia 76ers
DEWA
DEWA and Siemens Energy launch Phase Two after ‘exceptional results’
World’s first AI Plant Intelligent Controller at the Jebel Ali Power and Desalination Complex improves efficiency and fuel savings by 2.2%
ALEC
ALEC IPO raises $381m after 21x oversubscription in UAE’s biggest construction listing
ALEC’s IPO on the DFM raised $381m with demand topping $8.1bn, marking the UAE’s biggest-ever construction listing by size and value
