Latest Business and Economy News from Dubai

Standard Chartered: "UAE Business Activity to Accelerate in Q3 2026"

Latest economic analysis highlights continued non-oil expansion, supported by domestic consumption, investment and improving regional trade flows06 July 2026 – Dubai United Arab Emirates: Standard Chartered global research today announced its latest economic analysis, forecasting stronger momentum in UAE business activity during the third quarter of 2026, as regional tensions ease and attention shifts to the speed and scale of the GCC's economic recovery.The Bank's analysis indicates that the UAE's June S&P Global Purchasing Managers' Index (PMI) remained above the 50 threshold, signalling continued expansion in non-oil activity even during the kinetic phase of the recent regional conflict. Positive non-oil growth appears to be driven by domestic consumption and investment, while the external sector is ......read full news

Saudi Fund for Development and Sri Lanka Inaugurate Faculty of Medicine at Sabaragamuwa University

Sabaragamuwa Province, Sri Lanka – 4 July 2026:The Saudi Fund for Development (SFD) joined the Government of the Democratic Socialist Republic of Sri Lanka in inaugurating the Faculty of Medicine at Sabaragamuwa University, marking another milestone in the longstanding development partnership between the Kingdom of Saudi Arabia and Sri Lanka.The inauguration ceremony was attended by Her Excellency Prime Minister and Minister of Higher Education of Sri Lanka, Dr. Harini Amarasuriya; Eng. Faisal Al-Kahtani, Deputy Chief Executive Officer of the Saudi Fund for Development; senior government officials from Sri Lanka; and representatives of the Saudi Fund for Development.Her Excellency Prime Minister and Minister of Higher Education, Dr. Harini Amarasuriya, said: 'We value the longstanding partnership between Sri Lanka and ......read full news

Almarai Revenue Rises 11% to SAR5.87 Billion in Q2

Riyadh, July 05, 2026, SPA -- Almarai Company announced that its revenue for Q2 2026 rose by 11% year-on-year to SAR5.87 billion, bringing total revenue for the first half of the year to SAR12.03 billion, up 9% compared with the first half of 2025. Profitability remained stable, with net profit reaching SAR635.7 million in Q2, supported by revenue growth and portfolio expansion, reflecting the strength of Almarai’s business model and its ability to effectively manage external cost pressures.Ongoing cost-control initiatives to enhance operational efficiency and service levels, combined with improvements in the sales mix, supported the financial performance.CEO of Almarai Company Fawaz Al Jasser said that Q2 2026 results reflect continued growth at Almarai, supported by demand for core products, particularly poultry ......read full news

Emirates Development Bank Launches EDB Future Founder Program to Advance Youth Entrepreneurship and Innovation in the UAE

Abu Dhabi, UAE, 03 July 2026 – Emirates Development Bank, the key financial engine for the UAE's economic diversification and industrial transformation, has announced the launch of the EDB Future Founder Program 2026, a flagship youth initiative designed to equip students with entrepreneurial skills, strengthen leadership capabilities, and develop the next generation of innovators contributing to the UAE's knowledge-based economy.Running from 6 July to 21 August 2026, the program reflects EDB's continued commitment to investing in people as a foundation for long-term economic growth, while reinforcing its mandate to empower national talent and advance the UAE's position as a hub for entrepreneurship, innovation, and future-focused industries.H.E. Ahmed Mohamed Al Naqbi, Chief Executive Officer of EDB, said: ......read full news

EGA wins the AI Vision and Strategy Award at the 2026 Manufacturing Leadership Awards in the United States

Abu Dhabi, United Arab Emirates, 3 July 2026: Emirates Global Aluminium, the largest industrial company in the United Arab Emirates outside oil and gas, has received the AI Vision and Strategy Award at the 2026 Manufacturing Leadership Awards in the United States.The award recognises EGA's innovative implementation of Industry 4.0 technologies and future-focused digital and AI-powered use cases. EGA's ongoing digital transformation leverages advanced digital capabilities to transform operations, processes and systems.Hosted annually by the Manufacturing Leadership Council, part of the US-based National Association of Manufacturers, the Manufacturing Leadership Awards is an awards platform that recognises organisations driving the future global manufacturing through operational excellence and innovation.EGA's ......read full news

World Bank: Saudi Arabia Presents Global Model for Responsible AI Innovation in Digital Learning

Riyadh, July 02, 2026, SPA -- The World Bank has documented Saudi Arabia's experience in utilizing AI in learning, affirming that the AI Sandbox for Digital Learning (AISB) initiative represents a pioneering national model for countries seeking to advance responsible innovation and improve the quality of digital learning.This came in a study published by the World Bank titled: 'AI Sandbox for Digital Learning in Saudi Arabia: Driving Socio-Economic Impact through AI Innovation in Digital Learning.' The study reviewed the Saudi experience as an integrated model that combines practical experimentation, capacity building, governance, and the orchestration of an innovation ecosystem within a single national platform led by the National eLearning Centre (NeLC).The study highlighted that the initiative actively ......read full news

Standard Chartered and Circle launch first G-SIB-led integrated access to USDC minting and redemption

Eligible institutional clients can access USDC through a single onboarding and service experience, without needing direct Circle accountsDubai, United Arab Emirates, 02 July 2026 - Standard Chartered today announced the launch of its capability enabling institutional clients to access USDC minting and redemption, developed in partnership with Circle Internet Group, Inc. (Circle) (NYSE: CRCL), the issuer of USDC[1] through its regulated entities.The launch makes Standard Chartered the first Global Systemically Important Bank (G-SIB) licensed to offer institutional clients integrated access to USDC minting and redemption through a single onboarding and service experience, without requiring clients to hold direct accounts with Circle. The capability enables institutions to move value across traditional and ......read full news

EGA reports strong early progress in Al Taweelah restart and updates on business performance

Abu Dhabi, United Arab Emirates, 02 July 2026: Emirates Global Aluminium today reported progress in the restoration of production at the company's Al Taweelah site, with key early milestones reached ahead of schedule.EGA's Al Taweelah site sustained significant damage on 28 March as Iranian attacks on Khalifa Economic Zone Abu Dhabi led to an emergency shutdown.The safety and wellbeing of employees and contractors is always EGA's highest priority. Two employees sustained injuries requiring hospitalisation and have since been discharged to continue their recoveries.EGA established a dedicated, experienced team to deliver a safe and efficient restoration and restart of the Al Taweelah facilities.Repairs to damaged infrastructure have progressed rapidly. Basic utilities have been restored across the site, with ......read full news

Knowledge Group launches research on role of learning and development in employee productivity in the MENA region

The report spanned 1,691 organizations from the GCC and wider MENA region to gather evidence-based data on factors for persistent disconnect between L&D efforts and sustained employee productivityAbu Dhabi, UAE, 02 July 2026: Knowledge Group has released its latest primary research report, titled Relearning Productivity: The Hidden Role of Learning and Development (L&D) in Sustained Employee Productivity. As part of the Group’s MENA Workplace Index initiative that marks its 20-year legacy of supporting workplace agility, the study offers an evidence-based perspective on how organizations are approaching talent development in an increasingly complex and technology-driven environment.Conducted across 1,691 public and private sector companies in the UAE, Saudi Arabia, and the GCC and wider MENA region, the report ......read full news

Abu Dhabi's Construction Sector Moves into a Higher‑Value Phase

New Abu Dhabi Chamber report shows strong growth, deeper private‑sector capability, and rising global competitivenessAbu Dhabi, UAE – 1 July 2026:The Abu Dhabi Chamber of Commerce and Industry (ADCCI) has released a new report showing that the emirate's construction sector is entering a new phase of growth — one that is increasingly driven by higher‑value systems, advanced delivery models, and stronger private‑sector participation.Titled Abu Dhabi's Construction Sector, the report highlights a clear shift away from volume‑driven construction toward more integrated, technology‑enabled, and performance‑focused project delivery. This evolution closely aligns Abu Dhabi with global construction trends.As the second sectoral study released under ADCCI's 2025–2028 ......read full news

Aseer Expands Summer Tourism Investment with 44 Seasonal Sites

Abha, June 30, 2026, SPA -- Aseer Region Municipality is expanding investment opportunities in the tourism sector by offering 44 seasonal investment sites during the summer season as part of its efforts to empower investors, enrich visitors' experiences, and increase the contribution of tourism and entertainment activities to the local economy amid the region's growing tourism momentum.Aseer Region Mayor Eng. Abdullah Al-Jali said the municipality is implementing a comprehensive plan to support the summer tourism season through two main tracks. The first focuses on continuing infrastructure projects and urban landscape improvements, including roads, sidewalks, parks, lighting, and municipal services, while the second centers on developing investment opportunities and organizing events and activities that enhance the appeal of ......read full news

The Gamechangers Middle East, UAE's premier startup investment reality series, receives 1,500 founder applications

Co-created and headlined by Indian actor and entrepreneur R. Madhavan, the UAE’s pioneering startup investment series brings together the best of founders from across the Middle East, Asia and international markets.Dubai, UAE – 30 June 2026: The Gamechangers Middle East, the UAE-born startup investment series and entrepreneurship platform, has received an overwhelming response of 1,500 founder applications ahead of its application deadline. This reflects the growing ambition of entrepreneurs across the UAE, the wider Middle East, India, Singapore and international markets.Designed to go beyond television, the series is a fully functional investment and mentorship platform where promising founders gain access to visibility, guidance, strategic connections and capital. For an entrepreneurial community that has long had ......read full news

Masdar breaks ground on inaugural 1GW wind farm in Kazakhstan and advances Round-the-Clock renewable energy ambitions

US$1.4bn wind and battery project in Zhambyl region is one of largest renewable energy developments in Central Asia Landmark project will power approximately 880,000 homes and avoid 2.5 million tonnes of CO₂ emissions annually Masdar also signs roadmap agreement with Ministry of Artificial Intelligence and Digital Development to advance Kazakhstan's first Round-the-Clock renewable energy projectZhambyl Region, Kazakhstan – June 29, 2026: Abu Dhabi Future Energy Company PJSC – Masdar, a global clean energy leader, today formally broke ground on its 1-gigawatt (GW) wind farm in the Zhambyl region of Kazakhstan.The wind farm is Masdar's first renewable energy development in Kazakhstan and one of the largest integrated wind and battery storage projects in Central Asia, representing investment of ......read full news

Burgan Bank Launches Customized Employee Packages for Frontliners' Spouses During Times of Crisis

Reaffirming the Bank’s commitment to supporting its employee’s wellbeing and fostering a compassion-driven work environmentBurgan Bank Head OfficeMs. Nourah Buresli, Executive Manager – HR Business Partnering and Culture Transformation at Burgan BankKuwait, June 30 2026In an effort to foster a work culture where empathy and meaningful support are devotedly practiced whenever necessary, Burgan Bank launched a package of benefits specially tailored to employees whose spouses are frontline defenders. This initiative comes as part of the Bank’s mission to be an employer of choice as well as its comprehensive social responsibility program, which aims to create sustainable positive impact across society, beginning with its employees.“At Burgan Bank, we believe that employees are the ......read full news

Sharjah Islamic Bank Celebrates Its Golden Jubilee With The Third Edition Of “Zoud”

“A Home That Rewards You” reflects SIB’s continued commitment to recognising the people who have chosen the UAE as their home.Sharjah, United Arab Emirates – 29 June 2026: Sharjah Islamic Bank (SIB) has launched the third edition of “Zoud”, one of the leading salary transfer programmes, as part of its Golden Jubilee celebrations and continued commitment to rewarding the people who contribute to the community’s growth.Through Zoud, SIB continues to strengthen its role as a long-term financial partner that supports customers through meaningful and rewarding banking solutions.Originally launched in partnership with the Sharjah Government Human Resources Department, Zoud has grown into a nationwide programme open to employees across the public and private sectors. The campaign is ......read full news

Burgan Bank Celebrates the World Cup in Collaboration with Caribou Coffee

In line with the Bank’s CSR and ESG effortsKuwait, 25 June 2026Burgan Bank, in collaboration with Caribou Coffee, hosted a World Cup viewing experience at Assima Mall. The initiative reflects the Bank’s commitment to delivering meaningful and engaging experiences that resonate with the community and bring its customers together.Burgan Bank customers, families, football enthusiasts, guests, and sports figures enjoyed the event, experiencing the tournament in an exceptional atmosphere. The initiative featured various entertainment activities, interactive games, and Q&A sessions, with giveaways and prizes presented to attendees alongside complimentary coffee from Caribou Coffee. In parallel, the Bank rolled out a dedicated competition across its social channels.This event comes as part of Burgan Bank’s ......read full news

Dukhan Bank announces the successful issuance of USD 500 million Additional Tier 1 Capital Sukuk at the tightest yield achieved by a USD AT1 public issuance in the region this year

Issuance of Additional Tier 1 Capital Sukuk with a value of USD 500 million and a profit rate of 6%, the tightest yield achieved on an AT1 issuance in the region in 2026 The transaction attracted strong demand from international and regional investors, reaffirming confidence in Dukhan Bank’s credit fundamentals and Qatar’s economic resilienceLusail, Qatar - 24 June 2026: Dukhan Bank Q.P.S.C., rated A2 (stable outlook) by Moody’s and A (rating watch negative) by Fitch, successfully issued a USD 500 million perpetual non-call 5.5-year Fixed Rate Resettable Additional Tier 1 Capital Sukuk at a profit rate of 6% - the tightest yield achieved by an Additional Tier 1 Capital Sukuk issuance in the region so far this year.The transaction was met with strong demand from a diverse base of international and regional ......read full news

Schneider Electric joins the World Economic Forum Lighthouse Operating System Advisory Board to create an open-source manufacturing blueprint for companies of all sizes

Development Aligns with UAE and wider Middle East region sharpening industrial manufacturing focus, announcing AED 180 Bn in industrial procurement opportunities at Make It In The Emirates 2026Dubai (UAE), June 24, 2026 – Schneider Electric, a global energy technology leader, is deepening its collaboration with the World Economic Forum as part of a growing coalition of manufacturers, consultants, and technology partners working to accelerate industrial digital transformation worldwide. Together, they are advancing the Lighthouse Operating System (Lighthouse OS), a framework built on proven, replicable methodologies designed to support manufacturers to modernize at scale.Most manufacturers have invested in digital transformation though few have made it scale. Pilots succeed, then stall. Gains remain local and the gap between ......read full news

Aramex Recognized as Most Sustainable Company in MENA Logistics & Supply Chain by World Finance

Recognition reflects Aramex's continued commitment to smarter, more sustainable logistics through innovation, operational efficiency and responsible growthDubai, UAE, 22 June 2026: Aramex, a leading global provider of comprehensive logistics and transportation solutions, has been recognized by World Finance as the 'Most Sustainable Company, MENA Logistics & Supply Chain 2026,' reinforcing the company's commitment to advancing sustainability across its operations, infrastructure and long-term business strategy.The recognition acknowledges the progress Aramex continues to make across key sustainability initiatives, including fleet transformation, route optimization, operational efficiency, energy-conscious infrastructure and ESG governance. It also reflects the company's broader ambition ......read full news

New economic licences in Abu Dhabi increase 21% in Q1 2026

Abu Dhabi – 22 June 2026: The Abu Dhabi Registration Authority (ADRA), the Abu Dhabi Department of Economic Development’s (ADDED) arm to develop and regulate the business sector, has reported a 21% increase in the number of new economic licences issued during the first quarter (January to March) of 2026, compared to the corresponding period in 2025.The strong growth rates in the number of new economic licences and categories across the emirate’s regions and economic sectors reaffirms the attractiveness of Abu Dhabi’s business ecosystem for quality investments and its ability to sustain growth despite the challenges witnessed across the region during the past period.The number of active licences in the emirate increased by 12% during Q1-2026 compared to the same period last year. New economic licences also ......read full news

Under supervision of Smart and Autonomous Systems Council, Abu Dhabi Investment Office, General Civil Aviation Authority and Integrated Transport Centre (Abu Dhabi Mobility) sign c

Abu Dhabi, 19 June 2026: Under supervision of the Smart and Autonomous Systems Council, and in the presence of Sheikh Hamdan bin Saeed bin Tahnoon Al Nahyan, Abu Dhabi Investment Office, the General Civil Aviation Authority and the Integrated Transport Centre (Abu Dhabi Mobility) have signed a cooperation agreement to enhance the design, manufacturing and deployment of advanced air mobility solutions. The agreement aims to advance innovation in the sector, align efforts related to design certification and the efficiency of smart aviation systems, and develop regulatory frameworks for sustainable air transport solutions. The initiative supports the objectives and vision of the Smart and Autonomous Systems Council to shape the future of smart mobility in the emirate and advance autonomous transportation systems across land, sea and ......read full news

Trus Holding Celebrates 20-Year Milestone with the Inauguration of Its New Corporate Headquarters in Dubai

- Anniversary celebrations highlight the Group's 20-year journey of entrepreneurship, innovation, and strategic expansion across multiple industries.Dubai, United Arab Emirates – June 16, 2026: Trus Holding Group, a dynamic and rapidly growing multinational conglomerate, has inaugurated its new corporate office at Garhoud Business Center in Dubai. The state-of-the-art facility marks a significant milestone in the Group's expansion journey, coinciding with its 20th anniversary celebrations and reinforcing its commitment to strengthening operations across international markets. The office was officially inaugurated by Sayyid Munavvar Ali Shihab Thangal, while Khalil Yassine, former Head of Unilever Arabia, attended the ceremony as the chief guest. The event was hosted by Chairman & Managing Director Sameer ......read full news

SIB Announces AED 2 million grand prize winner in the SIB millionaire campaign

Abu Dhabi-based customer wins life-changing prize less than two months after opening his savings account with Sharjah Islamic BankSharjah, UAE, 16 June 2026: Sharjah Islamic Bank (SIB) has announced the winner of the AED 2 million grand prize under its flagship savings campaign, The SIB Millionaire, reaffirming its commitment to helping customers turn their dreams into reality through a rewarding savings experience.The grand prize was awarded to Shajeer Venga, a 34-year-old Indian national residing in Abu Dhabi, during a draw held at SIB's Head Office Main Branch. Remarkably, Shajeer had opened his savings account with the Bank less than two months ago via the SIB Digital App, making his win an inspiring testament to the opportunities offered through The SIB Millionaire campaign.Expressing his immense joy upon ......read full news

Central banks set to step up gold buying over the next year

16 June, 2026 –The World Gold Council's annual Central Banks Gold Reserves Survey reveals that 89% of reserve managers expect global central bank gold holdings to continue increasing over the next 12 months. With gold recently overtaking US government bonds as the top reserve asset, the findings point to continued momentum in central bank demand for gold.That confidence is also reflected in central banks' own reserve plans: a record 45% of the reserve managers surveyed said they expect to increase their own institutions' gold holdings over the next 12 months. Additionally, 83% of respondents believe gold will account for a higher share of total reserves five years from now, up from 76% last year.Taken together, these findings point to gold's increasingly strategic role within reserve portfolios. Today, ......read full news

EDGE Deepens Ties with the Basilicata Region During High-Level Visit

EDGE MD and CEO Hamad Al Marar signed an MoU with President Vito Bardi of Basilicata, in the presence of the UAE Ambassador to Italy, to advance cooperation across the region's industrial, defence, and technology ecosystemAbu Dhabi, UAE/Atella, Italy: 15 June 2026 – The United Arab Emirates’ advanced technology and defence group, EDGE, has signed a Memorandum of Understanding (MoU) with the region of Basilicata o explore opportunities for industrial collaboration, knowledge exchange, and talent development.The MoU was signed in Atella, Italy, during an official EDGE delegation visit to Costruzioni Motori Diesel (CMD), the Italian propulsion specialist in which EDGE has agreed to acquire a controlling stake. It was formalised by Hamad Al Marar, Managing Director and CEO of EDGE, and Vito Bardi, President of ......read full news

Dukhan Bank Announces June Winners in Thara'a Savings Account Prize Draw

Doha, Qatar – 13 June 2026 – Dukhan Bank announced the names of the most recent round of draw winners for Thara’a, its Shariah compliant savings account, at the Bank’s headquarters. The draw was conducted on 8 June 2026, under the supervision of a representative of the qualitative license and market control department at the Ministry of Commerce and Industry.In this month’s draw, Noora Al-Muftah and Rajamani Chandr Asekaran, each won the top prize of QAR 20,000, while the following winners each received QAR 5,000: Sheikh Ahmad Al-Thani, Hasna Laajili, Sawsan Siam Hindi, Lolwa Al-Ahbabi, Aymen Bin Saad, Alanoud Al-Tamimi, Abdulhadi Al-Hajri, Ali Al-Marri, Mohammed Marzook, Hessa Al-Mohannadi, Emad Sayed, Shaikha Al-Mansoori, Abdullah Al-Shaib, Sheikha Maryam Al-Thani, Fatma Al-Motawa, Huda Al-Mohammadi, ......read full news

Industry Minister Discusses Mining Investment Opportunities with Kazakh Companies

Astana, June 13, 2026, SPA -- Minister of Industry and Mineral Resources Bandar Alkhorayef held a series of bilateral meetings in Astana yesterday with leaders of several Kazakh mining and metals companies, in the presence of Vice Minister for Mining Affairs Eng. Khalid Almudaifer.Discussions focused on opportunities for cooperation in the mining sector, particularly in strategic minerals and rare earth elements. The talks also covered mineral exploration, geological surveying, and sustainable mining.Participants included representatives of Tau-Ken Samruk National Mining Company, KAZ Minerals, and Kazatomprom.The meetings are part of the Kingdom’s efforts to strengthen international partnerships and attract high-quality investments in the mining and minerals sector, in line with the goals of Saudi Vision 2030.

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20th IsDB Global Forum on Islamic Finance to Convene in Azerbaijan

Jeddah, June 11, 2026, SPA -- The Islamic Development Bank Institute (IsDBI) will host the 20th IsDB Global Forum on Islamic Finance in Baku, Azerbaijan, on June 17, 2026, under the theme “Achieving Sustainable Prosperity through Islamic Finance,” in conjunction with the IsDB Group Annual Meetings.Marking its 20th edition, the forum serves as a flagship platform for high-level dialogue, convening policymakers, regulators, development practitioners, academics, and industry leaders to advance innovation and development in Islamic finance. This year’s forum will focus on strengthening regional integration and unlocking sustainable growth across IsDB member countries through Islamic finance solutions.The forum will examine how Islamic finance can help address structural development challenges, including ......read full news

KIB concludes postponed Al Dirwaza account draws, awards prizes exceeding KD 650,000

Kuwait, 10 June 2026: Kuwait International Bank (KIB) announced the conclusion of the postponed draws for its Al Dirwaza savings account, held over two consecutive weeks at the Bank’s headquarters after fulfilling all regulatory requirements and controls. This reflects the Bank’s commitment to compliance, transparency, and ensuring customers’ rights across all draws.A total of around 54 postponed draws were conducted covering the period from March 2025 to January 2026, all broadcast live for customers to reinforce transparency and integrity. The process took place under the supervision of global audit firms Grant Thornton and KPMG, alongside the Bank’s internal audit teams. Total prizes exceeded KD 650,000 and were awarded to 632 winners.Commenting on the conclusion of the draws, Othman Tawfeqe, General ......read full news

Trinasolar and Ecohope Solar Sign 600MW MoU to Distribute Latest Vertex G3 Modules Across Southeast Asia, the Middle East and Africa

United Arab Emirates, 10 June – Trinasolar, a global leader in smart PV and energy storage solutions, has signed a Memorandum of Understanding (MoU) with Ecohope Solar, a global PV and ESS solutions provider with offices in China, Thailand and the UAE. The MoU was signed at SNEC PV Power Expo in Shanghai, one of the world's largest solar industry exhibitions.Under the MoU, Ecohope Solar intends to purchase and distribute 600MW of Trinasolar's latest Vertex N G3 and Vertex S+ G3 modules over three years. The cooperation will support residential and commercial solar projects across Southeast Asia, with Thailand as a key market, and across the wider Middle East and Africa, with the Gulf Cooperation Council (GCC) as a key focus region.Powered by Trinasolar's latest n-type i-TOPCon Ultra technology, the Vertex G3 ......read full news

EGA builds STEM labs in UAE schools and universities

United Arab Emirates, 09 June 2026: Emirates Global Aluminium (EGA), the largest industrial company in the United Arab Emirates outside oil and gas, has built STEM labs in schools and universities across the UAE, supporting the development of future industrial talent in the nation.EGA is a major employer of science, technology, engineering, and mathematics professionals, with over 1,500 people working in these fields at the company, including more than 500 UAE nationals.The new STEM labs offer students with hands-on experience using methods and equipment commonly applied across engineering, fabrication, and product development, supporting the development of essential technical skills and encouraging interest in future STEM careers.In addition to developing and equipping the new facilities, EGA is overseeing the instruction of ......read full news

Snoonu reverts to ‘No Riders Under the Sun' initiative as summer heat kicks in

Snoonu will rely on its air-conditioned car fleet to ensure that drivers can remain in a temperature-controlled environmentAs Summer has arrived, and with its sizzling heat and flaming sun, many delivery drivers will be at risk of sunstroke and heat exhaustion. Therefore, Snoonu, Qatar’s fastest-growing tech startup, continues with its initiative that was first launched in June 2021.Starting from June 1st and for three months until September 15, 2023, Snoonu will restrict bike deliveries from 10 am-3:30 pm, particularly during the hottest times of the day.Instead, Snoonu will rely on its air-conditioned car fleet to ensure that drivers can remain in a temperature-controlled environment while fulfilling their daily duties.“Humanity comes before business, we live in the desert with a temperature exceeding 50 ......read full news

Nvidia earnings jump 85% as revenue hits USD$81.6bn

Abu Dhabi, United Arab Emirates – May 21, 2026: Nvidia has done it again, beating on the top and bottom line and guiding the current quarter well above Wall Street estimates, yet the share price barely moved. That tepid reaction has become the new normal for the world's most valuable company, and it tells us exactly how high the bar has been set in the AI trade.According to Josh Gilbert, Lead Analyst, Middle East at eToro: Revenue of USD$81.6 billion was up 85% on the same quarter last year, with the all-important data centre business pulling in USD$75.2 billion, growth of 92%. For a company of this size to still deliver that level of growth is staggering. Guidance for the July quarter came in at around USD$91 billion, comfortably ahead of the USD$87 billion consensus, while management lifted the quarterly dividend to 25 ......read full news

GCC insurance market poised for continued growth amid geopolitical challenges, reveals Alpen Capital report

Dubai, May 20, 2026: Dubai based investment banking advisory firm, Alpen Capital released its GCC Insurance Industry Report 2026, outlining steady growth for the GCC insurance sector, with gross written premiums (GWP) expected to rise at a CAGR of 4.9 percent between 2025 and 2030, reaching US$61.8 billion. During the same period, the non-life insurance segment is anticipated to grow at a CAGR of 5.2 percent to reach US$ 54.1 billion by 2030, comprising 87.6percent of the region’s total GWP. This outlook remains subject to prevailing economic and geopolitical conditions.In addition to presenting the growth outlook, the report provides a comprehensive overview of the GCC insurance sector, outlining recent trends, growth drivers and challenges. It also profiles select insurance companies in the region.“The GCC ......read full news

Teyseer Motors Selects SAP to Integrate Dealership Operations and Enable AI-Driven Growth

Implementation of SAP S/4HANA Private Cloud will unify sales and aftersales processes across multi-brand portfolio and support regional expansion strategyFrom left: Ramy Said Abdulghani, Head of Automotive Cluster at Teyseer Motors, and Alaa Jaber, Managing Director, Qatar & Fast Growth Markets, SAPDOHA, Qatar – 19 May 2026 – Teyseer Motors W.L.L., a leading multi-brand automotive dealer in Qatar, has selected SAP SE (NYSE: SAP) to deploy an integrated digital platform that will unify its dealership operations and lay the foundation for AI-driven decision-making across the business. The project will see the implementation of SAP S/4HANA Private Cloud and an industry-specific Dealer Business Management (DBM) solution to deliver an advanced, end-to-end automotive platform across the company's multi-brand ......read full news

M+C Saatchi Group Middle East Appoints Lana Bdeir as Chief Growth Officer

M+C Saatchi Group Middle East has announced the appointment of Lana Bdeir as Chief Growth Officer. In her new role, Bdeir will lead the agency’s growth agenda across the region, with a focus on accelerating new business, sharpening M+C Saatchi Middle East’s positioning in an increasingly competitive landscape, and aligning its specialist capabilities into a cohesive, growth-driven proposition. She will work closely with leadership teams across the Group’s specialisms spanning advertising, media, sponsorship, talent management, PR, social, consulting, production, and Sport & Entertainment.Bdeir brings over two decades of experience spanning the Middle East, Europe, and global markets, with a track record of transforming businesses and repositioning brands at critical inflection points.She ......read full news

SALAMA Reports Record Profit and Strengthened Solvency in Q1 2026

Net profit rose to AED 14 million in Q1 2026 from AED 0.4 million in Q1 2025 Shareholders' equity grew 40% to AED 505 million, reflecting a significantly reinforced capital base Solvency ratio increased from 76% to 159% following the successful completion of the capital raise Earnings per share (EPS) increased to AED 0.023 from AED -0.001, 2,400% year-on-year increase UAE business delivered its first positive net underwriting result since Q2 2022 Performance driven by disciplined underwriting, operational efficiency, portfolio optimization and capital strengthening initiatives implemented under Group’s strategic transformation program focused on sustainable profitability over top-line growthDubai, UAE – 19 May 2026 – Islamic Arab Insurance Company (Salama) PJSC (“SALAMA”), one of the ......read full news

SAB Invest the First Market Maker for ETFs on the Saudi Exchange

A landmark achievement that establishes SAB Invest as the first ETF Market Maker in the Saudi Exchange, reinforcing its leadership in this field Enhanced liquidity in SAB Invest Saudi Quant ETF (Ticker: 9402), with tighter bid-ask spreads and improved pricing efficiency, enabling a smoother and more effective trading experience for investorsRiyadh, Kingdom of Saudi Arabia, 18 May 2026 – SAB Invest, the investment arm of Saudi Awwal Bank (SAB), today announced its official registration by the Saudi Exchange (Tadawul) as the first ETF market maker in the Kingdom. This landmark achievement marks a new era for Saudi Arabia's capital market, supporting Vision 2030's Financial Sector Development Program and delivering tangible benefits to investors through improved ETF trading efficiency.As the first entity to be ......read full news

National Bank of Fujairah and GENAVCO Sign MoU to Strengthen Equipment Financing Across Key Industrial Sectors

Agreement signed during Make it in the Emirates supports businesses operating across construction, infrastructure, logistics, and industrial sectorsAbu Dhabi, United Arab Emirates – 18 May 2026: National Bank of Fujairah PJSC (NBF) has signed a Memorandum of Understanding (MoU) with GENAVCO, a proud affiliate of Juma Al Majid Holding Group LLC, to establish a strategic partnership. The agreement is aimed at supporting customers across the construction, infrastructure, logistics, and industrial sectors through tailored financing and banking solutions.The MoU was signed by Rehan Ali, Head of Business Banking at National Bank of Fujairah, and Asif Khan, General Manager at GENAVCO Group, on the sidelines of Make it in the Emirates 2026, reinforcing a shared commitment to supporting long-term industrial development and advancing ......read full news

CFI Launches Local Stock Trading on DFM, Signature Moment for Investors

Dubai, UAE 18 May 2026: CFI Financial Group, the region’s leading online trading provider, is proud to announce the launch of more than 40 local stocks listed on the Dubai Financial Market (DFM). This milestone marks a significant step in CFI’s regional expansion, enabling clients to trade DFM-listed equities through a secure and regulated platform.The integration enhances market accessibility by connecting investors directly to leading UAE-listed companies across sectors such as real estate, banking, logistics, telecom, and utilities.By simplifying access to DFM-listed securities, CFI is giving a broader base of investors the opportunity to participate in the UAE’s economic growth story and benefit from diversified investment opportunities.“This is more than just a product launch, it's a ......read full news

KIB joins International Valuation Standards Council, strengthening its leadership in the real estate sector

Kuwait, 16 May 2026: Kuwait International Bank (KIB) announced joining the International Valuation Standards Council (IVSC), marking a strategic step that reflects its ongoing commitment to advancing the real estate services ecosystem and enhancing the quality of property valuation in line with the highest international standards.This move builds on KIB’s position as one of the leading financial institutions in providing integrated real estate solutions, including financing, advisory, valuation, and real estate asset management. These services are supported by an advanced digital infrastructure that improves operational efficiency and fosters high levels of transparency and professionalism within Kuwait’s real estate market.KIB’s membership in IVSC marks a first for Kuwait’s banking sector, as the first ......read full news

Ooredoo Kuwait Marks Kuwaiti Women's Day: Investing in Women Empowerment is a National Investment

Kuwait City – 16 May 2026 — At a time when Kuwaiti women are playing an increasingly influential role in shaping the nation’s economic and social landscape, Ooredoo Kuwait has reaffirmed its position as one of the country’s leading corporate advocates for female empowerment, marking Kuwaiti Women’s Day with a renewed commitment to diversity, inclusion and leadership development.The leading telecom company and digital enabler confirmed that women now represent 28.5% of its workforce, with a growing presence across senior management and strategic leadership positions; reflecting the company’s long-term commitment to promoting equal opportunities and nurturing local talent.The announcement comes amid broader national efforts to expand women’s participation across key sectors of the Kuwaiti ......read full news

RWE and Masdar receive planning permission for 3GW Dogger Bank South offshore wind farm projects

Lord Whitehead, on behalf of the UK Energy Secretary, gives consent to both Dogger Bank South East and West offshore wind farm projects The two 1.5GW projects are being developed as a joint venture between RWE and Masdar, and would be co-located over 100km off the northeast coast of England Both projects secured Contracts for Difference in the UK Government's Auction Round 7 and will now progress towards a final investment decision and constructionAbu Dhabi/Swindon, 14 May 2026Global clean power leaders RWE and Abu Dhabi Future Energy Company PJSC – Masdar welcome the decision made by Lord Whitehead on behalf of the UK Energy Secretary's legal authority to approve the Development Consent Order for the two Dogger Bank South (DBS) offshore wind farms.The proposed wind farms, DBS West and DBS East, are ......read full news

Invest Bank (INB) Reports Strong Q1 2026 Results with 97% Growth in Profit Before Tax

Operating income rises 81% to AED 112 million as the Bank records continued growth across Retail, SME and Wholesale Banking segmentsSharjah, United Arab Emirates, May 13, 2026 – Invest Bank (INB) today announced its financial results for the quarter ended 31 March 2026, delivering strong growth in profitability supported by higher operating income, continued balance sheet expansion and sustained momentum across its core business segments.Profit Before Tax increased by 97% year-on-year to AED 22.4 million, while Profit After Tax rose by 96% to AED 21.8 million. Total operating income increased by 81% to AED 112 million, driven by strong growth in both net interest income and non-interest income.The Bank continued to strengthen its financial position during the quarter, with total assets reaching AED 15 billion, ......read full news

EDGE Group Signs Agreement to Acquire CMD, a Top-Tier Italian Engine Company

The signing of the agreement for the acquisition of Southern Italy-based CMD will give EDGE direct access to over 35 years of piston engine manufacturing excellence, laying the foundation for a high-quality engine production base in Europe The deal represents EDGE Group’s landmark European expansion and strengthening of its global propulsion capabilitiesAbu Dhabi, UAE / Atella, Italy – 14 May 2026 – EDGE Group today announced the signing of an agreement to acquire a controlling stake in Costruzio ni Motori Diesel S.p.A. — CMD — a leading Italian company specialised in the design, prototyping, and development of advanced propulsion systems for automotive, marine, and aeronautical applications. The signing ceremony took place at the CMD plant in Atella, in the Basilicata region of Southern ......read full news

Space42 Reports Strong Q1 2026 Results

Rising revenue and solid margins underpin strong Q1 2026 performance Space Services revenue surges by 15% Strategic execution lays foundation for long-term, sustainable growthAbu Dhabi, UAE, May 14, 2026: Space42, the UAE based AI powered SpaceTech company with global reach, today announced its consolidated financial results for the three months ended March 31, 2026. The Company’s shares are listed on the Abu Dhabi Securities Exchange under the symbol SPACE42 (ISIN: AEE01122B228).In Q1 2026, Space42 delivered a robust financial performance, recording an increase in revenue and maintaining the momentum of the final quarter of 2025. It continued to execute across its four core strategic pillars while exercising rigorous control of its cost base, ensuring strong levels of profitability and margin.The Group ......read full news

Zoho Global Study Reveals Zero Trust Maturity, Strong Cybersecurity Resilience Commitment Among UAE Enterprises

Dubai, United Arab Emirates- 13 May, 2026: Zoho Corp., a leading global technology company, launched a report today revealing that while businesses in the UAE face frequent cyberattacks, 96 per cent of the respondents cited having the necessary tools to respond to cyber threats, leveraging capabilities such as real-time threat detection and endpoint security measures. UAE also has high Zero Trust adoption as well as commitment to strengthen cybersecurity measures, as per the report. However, there remains a need for stronger identity security as the nation advances its digital ecosystem and artificial intelligence adoption.According to Zoho’s State of Workplace Password Security 2026 global report – businesses across the wider Middle East and Africa (MEA) region have reported the highest rate of cyberattacks globally, in ......read full news

Trina Storage Recognized as BloombergNEF Tier 1 Energy Storage Supplier for Tenth Consecutive Quarter in Q2 2026

Trina Storage, a global energy storage solution provider, has once again been named a BloombergNEF (BNEF) Tier 1 Energy Storage Supplier for Q2 2026, marking its tenth consecutive quarter on the prestigious global ranking since BNEF first introduced its Energy Storage Tier 1 list in Q1 2024.Widely regarded as one of the most influential benchmarks in the global energy storage industry, the BNEF Tier 1 ranking serves as an important reference for project developers, financiers, and procurement decision-makers worldwide. The evaluation criteria extend beyond product performance and safety, placing strong emphasis on bankability, proven project execution, long-term operational reliability, and successful deployment across multiple international markets.Trina Storage’s continued inclusion reflects its strong technical ......read full news

ENOC Group honours employee excellence at the 2026 edition of the annual ENOC Awards

To Tweet this news, copy-paste the following: #ENOC Group to celebrate employee excellence on May 12 at the 2026 edition of the annual ENOC AwardsDubai, UAE; 13 May 2026: ENOC Group, a leading integrated global energy player, honoured and celebrated the outstanding contributions and dedication of its employees during the annual 2026 ENOC Awards ceremony, held on Tuesday, May 12.The prestigious event, hosted at the Al Ras Ballroom, InterContinental Dubai Festival City, recognised 456 employees for their role in enhancing ENOC Group’s competitiveness as an industry-leading national energy company. The annual awards reflect ENOC’s continued commitment to fostering a culture of excellence, innovation, and continuous improvement across the Group.‘’ENOC Awards ceremony reflects our deep appreciation for our ......read full news

ADNOC Distribution delivers 21% net profit growth in Q1 2026, reflecting strength and resilience

The Company generated its highest ever Q1 EBITDA of $307 million (+11.7% YoY) and net profit of $210 million (+20.7% YoY) Fuel volumes reached a Q1 record of 3.82 billion liters (+2.4% YoY) Non-fuel retail gross profit increased 10% YoY, driven by higher customer footfall, enhanced property management, and convenience store offerings The Company added 22 service stations in Q1 and is on track to hit its target of 60-70 new stations in 2026 Board of Directors approved ADNOC Distribution's first quarterly dividend (5.14 fils per share) to be paid in June 2026Abu Dhabi, UAE – May 13, 2026: ADNOC Distribution (ISIN: AEA006101017) (ADX: ADNOCDIST), the leading mobility and convenience retailer in the UAE, reported strong financial and operational performance in the first quarter ended 31 March 2026, with record Q1 ......read full news