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SUSTAINABLE ENERGY BOOST
Adnoc Drilling awards $800m hydraulic fracturing contract
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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2,500 HOMES, RETAIL BOULEVARD
Dubai South launches new luxury master-planned community
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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WORLD CUP 2034 PREPARATIONS
IHG in deal to develop two new hotels at King Abdullah Sports City
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.
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ANALYSIS
US inflation surprise ties Feds hands amid 'recession fears'
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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Strong spend, evolving retail landscapes fuel GCC economic resilience
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.
Top Trade News
 | Industry Sectors |
Saudi Global Ports unit takes over Eastern Coast terminals ops
SGP Multipurpose Terminals, a unit of Saudi Global Ports Group, has officially begun operations at the multipurpose terminals along the kingdom's Eastern Coast. These include King Abdulaziz Port Dammam, King Fahad Industrial Port Jubail and Ras Al Khair.
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Jadwa buys majority stake in Saudi retailer Makhazen Alenaya
Jadwa, a leading investment management and advisory firm in the region, said it has acquired a majority stake in Makhazen Alenaya, a fast-growing Saudi retail concept, through its flagship blind-pool vehicle, Jadwa GCC Diversified Private Equity Fund.
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TotalEnergies eyes Mozambique LNG project resumption in 2025
Energy major TotalEnergies is looking at resuming operations at the Mozambique LNG project in 2025. The company declared force majeure in 2021 due to security concerns, but is eyeing resumption later this summer.
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Vision 2030 investments driving Saudi equity markets growth: S&P
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.
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Middle East youth rewriting the rules of corporate success, says report
Among world’s youngest regions, Middle East is at the forefront of a generational shift in workforce values, prioritising financial stability and mental well-being over traditional markers of success such as climbing the corporate ladder, said a report.
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Saudi Global Ports unit takes over Eastern Coast terminals ops
SGP Multipurpose Terminals, a unit of Saudi Global Ports Group, has officially begun operations at the multipurpose terminals along the kingdom's Eastern Coast. These include King Abdulaziz Port Dammam, King Fahad Industrial Port Jubail and Ras Al Khair.
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Flydubai resumes flights, gradually restarts full schedule
The Dubai-based carrier will resume operations to the Syrian capital from 26 June 2025. Flights to Damascus will operate daily from Terminal 2, Dubai International (DXB).
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Vehere picks GSD to accelerate GCC market growth
Vehere, a new-age cyber defense software company, has engaged Gulf Software Distribution (GSD), a value-added distributor of software products, to distribute its detection and response products across the GCC region as well as in the Levant countries.
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Trosmic Sports unveils plans for GenNext indoor stadium in GCC
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.
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RM Sotheby's launches e-auction of F1 champs memorabilia
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.
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Taiwan launches new health campaign to boost well-being
Taiwan has launched a global campaign — “Go Healthy with Taiwan” — to strengthen its presence in the international health sector and promote meaningful collaboration to enhance global well-being.
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RM Sotheby's launches e-auction of F1 champs memorabilia
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.
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Strategy& names new Middle East, global leaders
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.
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Ax-4 blasts off on key ISS mission with Indian, Polish and Hungarian crew
SpaceX, Axiom Space and Nasa launched the Axiom Mission 4 (Ax-4) carrying astronauts from India, Poland and Hungary to the International Space Station, marking a historic milestone in global commercial spaceflight. The crew will remain there for 14 days.
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