Oil prices jumped above $100 a barrel again on Monday as the US Central Command said it will block ships from entering and exiting Iran ports via the Strait of Hormuz.
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The US Central Command (CENTCOM) forces will begin implementing a blockade of all maritime traffic entering and exiting Iranian ports today (April 13) at 10 am ET (3 pm GMT and 7pm GST), following President Donald Trump's announcement on Sunday on the action.
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US President Donald Trump on Sunday announced that the US Navy would immediately begin blockading the Strait of Hormuz, sharply escalating tensions after marathon talks with Iran collapsed without a deal to end the war, leaving a fragile two-week ceasefire hanging in the balance.
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Saudi Royal Commission for Jubail and Yanbu has announced that its total investments in the industrial cities hit more than SAR1.5 trillion ($400 billion) by the end of 2025. The country’s flagship industrial hubs, Jubail is focused on petchem and heavy industry while Yanbu serves as the refining and downstream sector.
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Dubai’s residential market is unlikely to move uniformly in the months ahead, with price softening expected across the board but with significant variation by property type and community, says an expert.
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US delegation led by Vice President JD Vance met directly with Iranian officials in Pakistan on Saturday — a significant moment for two countries that have typically held high-level talks through intermediaries, a CNN report said.
Global growth is likely to take a noticeable hit from the ongoing Middle East conflict, even if a ceasefire holds, according to an interview given by World Bank President Ajay Banga to Reuters.
All eyes are on Pakistan's capital Islamabad as it hosts what are being described as “make-or-break” talks between the United States and Iran on Saturday, even as doubts persist over their prospects amid sharply divergent positions, ongoing violence in Lebanon, and renewed warnings from Donald Trump of intensified military action if diplomacy fails.
The UAE has won the hosting rights for the 2029 meetings of the World Bank Group and the International Monetary Fund in the capital, Abu Dhabi, said HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister, in his X post.
Reserves held by UAE banks with the Central Bank of the UAE rose to AED439 billion ($119.5 billion) in the first quarter of 2026, underscoring strong liquidity buffers in the banking system as authorities press ahead with financial sector resilience measures.
Listed companies in the Abu Dhabi Securities Exchange (ADX), one of the 20 largest stock exchanges by market capitalisation, extended their sustained growth as total net profit increased 17% year on year to over AED200 billion ($54.46 billion).
Dubai has restricted foreign airlines to just one daily flight to its airports until May 31 due to the Iran crisis, a Reuters report said citing a Federation of Indian Airlines (FIA) letter.
Elsewedy Electric Power Systems Projects said it is implementing a portfolio of six high voltage power substations across various the kingdom in collaboration with Saudi Electricity Company and National Grid Company. These projects have a voltage levels ranging between 110 and 115 kilovolts.
Dubai International Financial Centre (DIFC), the leading global financial centre in the Middle East, Africa and South Asia (MEASA) region, is introducing a targeted package of temporary economic support measures to assist its business and retail community as the region emerges from the current environment.
Luxury property developer Sobha Realty has announced its foray into the Abu Dhabi market with the unveiling of its master-planned community - Sobha City. Spanning 38 million sq ft, it is envisioned as a 'City within a city' featuring a range of residences along with a 2-km waterfront promenade and integrated marina destination.
European gas prices have surged following rising tensions in the Middle East, as failed ceasefire talks between Iran and the US unsettle global energy markets.
Oman Airports, Oman Air, and SalamAir reported strong 2025 performance driven by revenue growth and network expansion, and outlined a 2026–2030 strategy to build an integrated aviation ecosystem and strengthen Oman’s global connectivity.
The small and medium‑sized enterprises (SMEs) across the Gulf region showed strong resilience through the first quarter, sustaining high levels of company formation and restructuring even as March brought renewed disruption linked to the regional tensions, said a report.
Dubai’s residential market is unlikely to move uniformly in the months ahead, with price softening expected across the board but with significant variation by property type and community, says an expert.
Luxury property developer Sobha Realty has announced its foray into the Abu Dhabi market with the unveiling of its master-planned community - Sobha City. Spanning 38 million sq ft, it is envisioned as a 'City within a city' featuring a range of residences along with a 2-km waterfront promenade and integrated marina destination.
Qiddiya Investment Company has signed an agreement with King Faisal Specialist Hospital and Research Centre (KFSH) for joint collaboration on the establishment of a premium facility in Riyadh that will deliver specialised sports medicine services in line with international standards.
Abu Dhabi Maritime Academy, an integral part of AD Ports Group, has signed a research, development, and operational deployment agreement with Minexx, a technology-enabled mining and mineral processing company operating in the Democratic Republic of Congo.
Choithrams, a leading UAE-based retail and distribution company, has announced that it has joined hands with Parkonic, a digitally managed parking operating system, to introduce a streamlined, ticketless parking experience across selected store locations in the UAE.
The Bahrain Association of Banks (BAB) has signed an agreement with the Kuwait Banking Association that provides a general framework to facilitate dialogue, information exchange and engagement between the two associations on matters of shared interest to their respective members.
Meta Platforms has launched its debut AI model Muse Spark, thus marking the first release from the company's Superintelligence group. Designed to boost Meta's products, Muse Spark is a compact yet powerful model capable of complex reasoning in various fields, including science and math.
Choithrams, a leading UAE-based retail and distribution company, has announced that it has joined hands with Parkonic, a digitally managed parking operating system, to introduce a streamlined, ticketless parking experience across selected store locations in the UAE.
Sunreef Yachts has announced that tennis sensation and multiple Grand Slam champion Carlos Alcaraz has joined its community of owners. The Spanish champ placed an order for a fully customised Sunreef Ultima 88, thus marking his entry into the world of luxury yachting.
The US and Iran failed to reach an agreement after marathon 21-hour talks in the Pakistani capital Islamabad throwing the two-week Middle East ceasefire into doubt.
