Ras Al Khaimah (RAK), the UAE’s northernmost emirate, reported a 9% increase in tourism revenue in H1 2025. Visitor arrivals were up 6%, hotel occupancy hovered near 72%, and RevPAR rose 6.2%. These gains underscore RAK’s emerging appeal for investors beyond the traditional hubs of Dubai and Abu Dhabi. Source: Gulf News
Ras Al Khaimah Tourism Revenue Soars by 9% Read More »
OPEC released a new compensation mechanism for overproducing members, requiring output cuts of 190,000 to 829,000 barrels per day based on excess production. Notably, Saudi Arabia and Algeria are exempt, and OPEC+ has also scheduled a modest increase of 137,000 bpd starting October—part of a measured unwinding of prior cuts. Source: reuters.com
OPEC Lays Out Oil Overproduction Penalties, Adjusts Output Read More »
Saudi Arabia’s economy grew by 3.9% in the second quarter, largely fueled by a 4.6% increase in non-hydrocarbon sectors like finance, utilities, and business services. The oil sector also contributed, though downstream fiscal pressures persist. Source: reuters.com
Saudi GDP Climbs 3.9% in Q2, Led by Non-Oil Growth Read More »
Australia’s Macquarie Asset Management plans to establish a presence in Saudi Arabia, following a non-binding agreement with the kingdom’s Public Investment Fund. The cooperation aims to fund projects in digital and EV infrastructure, aligning with Saudi Arabia’s Vision 2030 push for economic diversification. Source: reuters.com
Macquarie Eyes Expansion in Saudi Arabia via PIF Partnership Read More »
Gulf stock markets witnessed modest gains, buoyed by expectations of a Fed interest rate cut following weak U.S. jobs data. Saudi index added 0.1%, while Abu Dhabi and Qatar saw slight upticks. However, sentiment remains fragile amid oil price uncertainty. Source: Reuters.com
Gulf Equities Gain Momentum on U.S. Rate-Cut Prospects Read More »
Since September 6, damage to undersea cables in the Red Sea has disrupted internet services throughout the UAE and other parts of the region. Networks experienced high latency, with major telecom providers du and Etisalat confirming widespread slowdowns. Cloud platforms such as Microsoft Azure were also affected. Restoration efforts are underway, but full connectivity may
Undersea Cable Damage Causes Internet Outage Across the UAE Read More »
Gulf equities retreated today, reacting to sliding oil prices and softer-than-expected U.S. employment figures. Saudi Arabia’s benchmark index fell by 0.6%, marking its ninth decline in ten sessions, with heavyweights like Aramco and Al Rajhi Bank dragging the market down. In contrast, Qatar bucked the trend, gaining 0.3%—led by strength in Qatar Islamic Bank. The
Gulf Stock Markets Fall Amid Weak Oil Prices and Disappointing U.S. Job Data Read More »
Regulatory developments are underway: the UAE’s central bank now permits only licensed entities to issue stablecoins and supports a dirham-backed digital coin spearheaded by ADQ and First Abu Dhabi Bank. Meanwhile, Bahrain introduced a Stablecoin Issuance Module (SIO) allowing issuance of fiat-backed stablecoins under central bank approval—paving the way for broader crypto integration in financial systems. Source: wikipedia
Stablecoin Frameworks Advancing in UAE and Bahrain Read More »
CoinMENA, a Sharia-compliant crypto exchange licensed in both Bahrain and Dubai, has formed a partnership with UAE digital bank Zand. This collaboration will enable fiat-to-crypto transactions across the region and supports Ripple’s RLUSD stablecoin rollout—marking key progress in streamlining regulated crypto adoption in the Gulf. Source: wikipedia
CoinMENA Partners with Zand to Expand Gulf Crypto Access Read More »
LG Electronics is expanding its global South strategy with a partnership to provide advanced cooling solutions for a new AI data center in Oxagon, NEOM’s industrial zone in Saudi Arabia. The move supports the scaling of digital infrastructure within the ambitious NEOM megacity development. Source: LG NewsRoom
LG Powers AI Data Center Cooling in Saudi’s NEOM Project Read More »