The Middle East's travel and tourism sector is forecast to shrink 14.5% in 2026 amid geopolitical disruptions, but the World Travel & Tourism Council (WTTC) expects the region to become the world's fastest-growing tourism market through 2036, led by Gulf economies.
AES Engineering has strengthened its presence in the Middle East reliability sector by acquiring a controlling stake in Technomax Middle East Engineering and Technomax Industrial Services, based in Abu Dhabi, UAE.
India's top engineering and construction conglomerate Larsen and Toubro (L&T) has announced that its key subsidiary L&T Energy Hydrocarbon Offshore (LTEH Offshore) has secured an ultra-mega order - valued at over Rs150 billion ($1.57 billion) - from ADNOC Offshore for development of multiple offshore facilities.
Minor Hotels reported steady growth in the second quarter of 2026, with core profit rising 2% year-on-year to THB 2.8 billion (approximately $84.3 million), supported by continued strength across Europe and the Americas that helped offset weaker trading conditions in the Middle East.
Egis, a leader in architecture, consulting, construction engineering, operations and maintenance services firm, has appointed Steven Scott as its regional director of advisory business across Mideast and South Asia. An industry veteran, he has 34 years of experience in development and infrastructure consulting, including 18 in the region.
World merchandise trade growth exceeded expectations in the first quarter of 2026 as surging trade in electronic components related to artificial intelligence (AI) offset the negative impact of the conflict in the Middle East, which began in the final month of the quarter.
Spanish engineering company Técnicas Reunidas has announced that it has secured two major contracts worth a total of more than $5.75 billion from Abu Dhabi National Oil Company (ADNOC) to provide engineering, procurement, construction and installation services for its Upper Zakum megaproject.
The International Energy Agency (IEA) forecasts global natural gas demand will fall 0.5 per cent in 2026 as Middle East conflict-driven supply disruptions, higher prices and reduced LNG flows through the Strait of Hormuz weigh on consumption.
VinFast, an electric vehicle brand of Vingroup, a business conglomerate in Vietnam, has appointed Prashanth Rao as the new CEO for its Middle East operations. In this role, Rao will spearhead the regional strategy, accelerate EV adoption and establish a robust footprint in a rapidly growing market.
Samsung E&A, one of the world’s leading engineering, procurement, construction and project management (EPC&PM) companies, has secured a water treatment project worth $790 million in the Middle East, further strengthening its presence in the region’s water infrastructure sector.
