A luxury apartment in Dubai has been sold off-plan for AED422 million ($114.91 million), and the deal has been hailed as powerful sign of confidence in the city’s real estate market, and security in the UAE.
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The UAE banking and financial sector is resilient, strong, stable, and well-positioned to navigate regional developments, said Khaled Mohamed Balama, Governor of the Central Bank of the United Arab Emirates.
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The future of the Saudi heavy construction equipment market appears promising, driven by ongoing government initiatives and urbanisation trends. Under its Vision 2030 initiative, the kingdom aims to invest over $500 billion in mega housing and urban development projects, thus driving demand for advanced machinery, said a report.
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Travel disruption across the Gulf region has entered its fifth day, with thousands of passengers still stranded and airlines operating only limited flights out of major hubs like Dubai and Abu Dhabi amid continued regional conflict and widespread airspace closures.
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The gravity of the situation in the Middle East has moved from high to severe and consequently, the potential for events to weaken credit quality across sectors has increased, says an S&P Global Ratings report.
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The annual general meeting of Abu Dhabi Islamic Bank (ADIB), a leading financial institution, has approved a total payout of AED3.524 billion ($959.56 million), which is equivalent to 50% of the bank's 2025 net profit.
Private developers, holiday home operators and sections of the hospitality industry in Dubai are expanding free accommodation offers to stranded passengers as flight cancellations and regional airspace closures continue to disrupt travel across the Gulf.
The King Salman International Airport in Riyadh has shortlisted three international contractor teams - UCC with Consolidated Contractors; Webuild with Al Gihaz and TAV and PowerChina with MBL Infrastructure - for ECI work on Terminal 6 as part of the $30 billion airport development programme.
An oil tanker sailed through the Strait of Hormuz on Tuesday, heading to a United Arab Emirates port to load crude in a rare voyage since the Iran war severely disrupted shipping in the Middle East, according to industry sources and ship-tracking data quoted by Reuters.
Saudi Basic Industries Corporation (Sabic), has reported a net adjusted income of SAR2.1 billion ($560 million) for 2025, as annual revenue reached SAR116.5 billion ($31 billion). A key highlight was the global petchem leader's brand value exceeding the $5 billion threshold for the first time hitting $5.19 billion.
The UAE’s real estate market is one of the Gulf’s most resilient markets and is able to absorb geopolitical shocks thanks to its diversified investment base and openness to global capital flows, according to an expert.
AD Ports Group, a leading global enabler of trade, industry and logistics solutions, confirms that all operations across its clusters continue as normal in light of current regional developments.
The UAE said yesterday that 17,498 passengers have been transported on 60 flights operated by national carriers since March 1 as part of its emergency flights plan.
The UAE maintains strategic reserves of essential goods sufficient to cover market needs for a period ranging between four and six months, Abdulla bin Touq Al Marri, Minister of Economy and Tourism, said.
A luxury apartment in Dubai has been sold off-plan for AED422 million ($114.91 million), and the deal has been hailed as powerful sign of confidence in the city’s real estate market, and security in the UAE.
SATORP, a joint venture between Saudi oil giant Aramco and French multinational integrated energy TotalEnergies, has signed up KBR, a leading technology and engineering solutions company, to provide comprehensive maintenance services for its petrochemical complex in Jubail for the next seven years.
The Saudi Red Sea Authority (SRSA) has appointed Dr Maryam Ali Ficociello as Chief Executive Officer, effective March 22. Her appointment marks a new phase in the authority’s continued mandate to regulate and enable navigational and marine tourism activities across the kingdom’s Red Sea.
SATORP, a joint venture between Saudi oil giant Aramco and French multinational integrated energy TotalEnergies, has signed up KBR, a leading technology and engineering solutions company, to provide comprehensive maintenance services for its petrochemical complex in Jubail for the next seven years.
The future of the Saudi heavy construction equipment market appears promising, driven by ongoing government initiatives and urbanisation trends. Under its Vision 2030 initiative, the kingdom aims to invest over $500 billion in mega housing and urban development projects, thus driving demand for advanced machinery, said a report.
Saudi-based Misk Foundation has appointed Eng. Sami bin Jasser Al Jasser, a strategic development expert, as the new Chief Executive Officer of its mega Mohammed bin Salman Nonprofit City (Misk City) - a first-of-its-kind project coming up on a 3.4-sq-km area in capital Riyadh.
PureHealth, the largest healthcare group in the Middle East, and Yellow Door Energy, the leading sustainable energy partner for businesses in the Middle East and South Africa, have signed a master lease agreement to bring clean electricity to its network of hospitals and clinics in the UAE.
Dubai-based Union Properties has sealed a membership agreement with the Massachusetts Institute of Technology (MIT) through its globally recognised Industrial Liaison Programme in a move aimed at developing future-oriented models to help accelerate technology-led transformation in real estate.
The UAE maintains strategic reserves of essential goods sufficient to cover market needs for a period ranging between four and six months, Abdulla bin Touq Al Marri, Minister of Economy and Tourism, said.
Investcorp, a global alternative investment firm headquartered in Bahrain, has announced that its GP staking arm, Investcorp Strategic Capital Group (ISCG), has closed on commitments of over $1.25 billion, thus taking the ISCG's total assets under management (AUM) to over $2.4 billion.
Emirates Integrated Telecommunications Company (du) today confirmed that its network infrastructure, core systems and customer channels continue to operate normally, with full-service availability across mobile, fixed and enterprise segments.
New Murabba Development Company, a wholly-owned subsidiary of Saudi Arabia's sovereign wealth fund PIF, has signed a strategic agreement with Electric Vehicle Infrastructure Company (Eviq) for deployment of EV charging infrastructure across key assets within its giga project - New Murabba.
An emergency GCC-EU Ministerial Meeting will be held tomorrow (March 5), reported SPA citing Secretary-General of the Gulf Cooperation Council (GCC) Jasem Albudaiwi. The meeting will bring together, the foreign ministers of the GCC states and the European Union (EU) member states.
A United States submarine torpedoed and sank an Iranian warship in international waters off Sri Lanka’s southern coast on Wednesday, US Defense Secretary Pete Hegseth confirmed, in an incident that has heightened tensions in the Indian Ocean.
