9+ hour, 10+ min ago   (616+ words) Inbound tourism to the Gulf is forecast to fall by more than a third this year as the Iran conflict disrupts air travel and dents visitor confidence. Arrivals are due to drop 38 percent, far worse than earlier forecasts of an…...

13+ hour, 47+ min ago   (636+ words) The latest escalation in the US-Iran war has subjected Jordan to repeated Iranian missile attacks, testing its hard-won economic stability and attractiveness as a destination for Gulf funds. But analysts and investors said that decades of geopolitical instability at its…...

4+ day, 1+ hour ago   (188+ words) Elon Musk’s Boring Company has raised $3 billion in a funding round led by the UAE and affiliated investment entities. The money will accelerate development of large-scale underground infrastructure across the UAE, including more than 150km of tunnels, building on the previously…...

4+ day, 6+ hour ago   (232+ words) Dubai’s DP World has signed a deal to co-develop a 222-hectare special economic zone (SEZ) in Kenya as it expands its footprint in Africa. The Mombasa Industrial Park will be developed with Kenya-based investment group GulfCap Africa. It is expected…...

4+ day, 13+ hour ago   (622+ words) Middle Eastern banks face fresh hurdles in establishing and maintaining US correspondent relationships as the Trump administration intensifies efforts to choke off Iran’s global financial dealings. US officials have targeted one institution in the UAE and Turkey each in the…...

4+ day, 6+ hour ago   (285+ words) UAE company Marlan Space and US company Loft Orbital are leading a consortium in a $1 billion investment in France to build Altair-Next Gen, the world’s largest artificial intelligence satellite infrastructure. The first 50 satellites will be manufactured in the UAE. Orbitworks,…...

4+ day, 7+ hour ago   (256+ words) Abu Dhabi conglomerate International Holding Company (IHC) has gained exposure to Indian billionaire Gautam Adani’s airport business through its investment arm Alpha Wave Global, which is part of a consortium investing about $1 billion in Adani Airport Holdings. Alpha Wave is…...

4+ day, 7+ hour ago   (168+ words) Asyad Shipping, a subsidiary of Oman’s state-backed Asyad Group, has awarded a contract to South Korean shipbuilder Hyundai Heavy Industries to build two medium-range tankers. The contract is valued at OMR40 million ($104 million) and will be funded through a mix of…...

4+ day, 9+ hour ago   (279+ words) Brent crude held above the $100-a-barrel mark in early trading on Thursday after traffic through the Strait of Hormuz fell to single digits the day before. Brent crude futures were flat at $101.20 a barrel at 02:50 GMT. US West Texas Intermediate…...

4+ day, 9+ hour ago   (738+ words) The true cost of the Hormuz crisis isn’t immediately apparent from countries’ headline rates The Strait of Hormuz seems distant from the supermarket checkout, but the economic distance is shrinking. Headline inflation can obscure that perception. Saudi Arabia’s consumer price…...