In a major move, Korean conglomerate HD Hyundai has merged its construction entities - HD Hyundai Construction Equipment and HD Hyundai Infracore - to form a new entity, HD Construction Equipment, with KRW8 trillion ($6.2 billion) consolidated revenue.
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Adnoc Drilling Company has announced that one of its key units, Adnoc Onshore, has awarded a major contract worth $800 million for the provision of integrated hydraulic fracturing services for conventional and tight reservoirs.
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Dubai South Properties has announced the launch of Hayat, a luxury master-planned community located within its Golf District. Spanning 10 million sq ft, it boasts 2,500 residential units including townhouses, villas, mansions as well as hotel apartments.
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The latest personal consumption expenditures index and Fed Reserve’s preferred inflation gauge have come in hotter than expected. This has rattled financial markets and raised concerns that the US economy is now hurtling toward recession, said an expert.
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The Middle East continues to distinguish itself as a global economic outperformer, with UAE and Saudi leading the charge. While GDP growth is set at 3.2% this year, UAE will grow by 4% and KSA 3% with further acceleration seen through 2027, said a report.
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Tabreed, a leading district cooling company based in Abu Dhabi, has entered into a partnership with CVC DIF, a Dutch mid-market infrastructure equity fund manager, to acquire PAL Cooling Holding from Abu Dhabi’s Multiply Group, in a deal with an equity va
Arkan Solutions, a leading Saudi-based provider of cloud communication services, has announced the successful go-live of its innovative PSTN integration service for DHL Express in Kuwait, Qatar and Jordan, in collaboration with British Telecom.
ROSHN, a leading developer powered by Saudi wealth fund PIF, has been listed among the top 25 real estate brands globally by Brand Finance, a major brand valuation consultancy. ROSHN is the first Saudi real estate brand to make it to this coveted list.
UAE and China have launched Qingdao Overseas Integrated Service Centre in a move aimed at increasing the $400 billion trade with Arab world. It will help boost two-way investment and socio-economic co-operation between businesses, industries and people.
IHG Hotels & Resorts has sealed an agreement with Saudi-based Koushan Real Estate for the development of two branded properties - Kimpton and Even Hotels - at King Abdullah Sports City, Jeddah. Set for 2028 opening, these hotels will add 585 new rooms.
Wolffkran, a leading manufacturer of tower cranes, has signed a major contract to provide the turn-key tower crane package for one of Saudi Arabia’s most prestigious construction projects: the Prince Mohammed Bin Salman Stadium in Qiddiya, Riyadh.
The de-escalation in US-China trade tensions has led Fitch to make upward revisions to growth forecasts compared to April. But the world economy still faces a sharp slowdown induced by the most severe trade war since 1930s, says the top ratings agency.
Leading warehouse operator StockSpace and project master developer Axione have signed a 50-year land lease agreement with Khalifa Economic Zones Abu Dhabi to establish a 14,200 sq m warehouse facility for F&B and FMCG sector within Kezad Area A premises.
Bahrain's national carrier Gulf Air is resuming its scheduled flights to and from the Iraqi cities of Baghdad and Najaf as well as Amman in Jordan. Its flights to these cities had been recently affected owing to the regional tension.
Dubai Land Department (DLD) has teamed up with Dubai Department of Economy and Tourism to launch the First-Time Home Buyer Programme, a key initiative designed to make homeownership more accessible and financially affordable for locals and expatriates.
Four people died and 22 others were injured after a barge in the Gulf of Suez sank, said media reports citing the Egyptian government. Adam Marine 12 of Offshore Shukheir oil Company capsized last night, it stated, without providing further details.
Abu Dhabi's hotels generated revenues of AED847 million ($230 million) in April, underscoring its growing appeal as a global tourism hub. A total of 172 hotels were in operation offering 34,383 rooms with guest nights topping 1.52 million, said a report.
US-based marine robotics company Ocean Infinity said it has partnered with SRT Marine Systems to delivered its innovative NeedleFish USV, equipped with an array of specialist maritime surveillance sensor systems, to the Kuwaiti Coast Guard.
The latest personal consumption expenditures index and Fed Reserve’s preferred inflation gauge have come in hotter than expected. This has rattled financial markets and raised concerns that the US economy is now hurtling toward recession, said an expert.
Trosmic Sports has unveiled plans for a next-generation indoor stadium that will redefine sporting experiences in GCC. Targeted for 2030 opening, Flux Halo will feature 200,000 sq m column-free space capped by a 75,000 sq m retractable tensile roof.
In the Middle East, AI is not merely enabling national visions—it is becoming one. From reengineering traditional industries to crafting new economic blueprints, AI is now shaping how nations think, compete, and evolve, according to an expert.
UAE-based BNW Developments has announced that it has officially signed up MAN Construction (a subsidiary of the Masah Group) as the principal partner for its ultra‑luxury waterfront project - Aqua Arc - in the northern emirate of Ras Al Khaimah.
Qatar said it has shut down airspace temporarily as part of measures taken amid developments in the region, a statement by the Qatari foreign ministry said on X. It said the move comes to ensure safety of residents and visitors.
The equity markets in the Kingdom of Saudi Arabia have developed faster than its debt markets, thanks to its robust banking system that provides competitive financing for nonfinancial corporates, according to S&P Global Ratings.
Ericsson has announced the opening of its new regional headquarters in Saudi capital Riyadh, thus reflecting its strong commitment to the kingdom and the strategic role of the country in the company’s regional operations across Middle East and Africa.
RM Sotheby's has announced an e-auction featuring pieces of sporting memorabilia from the likes of F1 champs Schumacher, Senna and Hamilton. Everything - from race-worn suit, boot and gloves to signed helmets and horology wristwatches - are up for grabs.
RM Sotheby's has announced an e-auction featuring pieces of sporting memorabilia from the likes of F1 champs Schumacher, Senna and Hamilton. Everything - from race-worn suit, boot and gloves to signed helmets and horology wristwatches - are up for grabs.
The Avenues – Bahrain, the largest seafront shopping and entertainment destination in the kingdom, has launched its two-month-long Shop & Win summer campaign, offering shoppers a chance to win the grand prize - a 2025 Maserati Grecale Modena SUV.
