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BIG GLOBAL EXPANSION
HD Hyundai merges key entities to set up $6.2bn construction powerhouse
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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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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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 |
Dubai launches landmark initiative to boost first-time homeownership
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.
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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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4 dead, 22 injured as barge sinks off Egypt’s Gulf of Suez
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.
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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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Ocean Infinity delivers surveillance vessel to Kuwait Coast Guard
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.
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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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Ericsson opens new regional headquarters in Riyadh
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.
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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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AI at the heart of Vision 2030: Redefining sectoral growth
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.
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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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