Uncertainty over the future of the Strait of Hormuz deepened on Saturday as the United States and Iran traded conflicting claims over control of the strategic waterway, while commercial shipping remained severely disrupted and fresh attacks added to mounting concerns over the security of Gulf trade.
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Two ADNOC vessels were attacked while transiting the Strait of Hormuz on Thursday, adding to growing tensions in the strategic waterway as the United States prepares tougher economic measures against Iran.
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Abu Dhabi National Oil Company has announced that one of its key units, ADNOC Gas has awarded engineering, procurement and construction (EPC) contracts worth $8.2 billion for the next phase of its Rich Gas Development (RGD) project at the Habshan complex in the UAE capital.
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Flexible working is emerging as a key pillar of Dubai’s drive to build a more agile and sustainable government workforce, as the emirate moves to give employees greater choice in how they work while maintaining productivity and service delivery.
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Oil prices are climbing once again, and with them, fears that inflation could make an unwelcome return. Renewed tensions between the US and Iran have shifted investors' attention back to the impact of higher energy costs on the global economy, said a leading global market strategist.
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Dubai's residential property market recorded a modest improvement in July, with overall sales transactions rising 2% and total transaction value increasing 3% month-on-month, according to Dubai Land Department (DLD) transaction data.
The Abu Dhabi Securities Exchange (ADX), one of the fastest growing exchanges in the world, has become the first exchange in the MENA region to offer all investors, institutions, developers and market participants access to official “live” ADX market data through conversational AI tools like ChatGPT, Claude, and other large language models (LLMs).
The Middle East conflict is widening into an increasingly complex security, shipping and environmental crisis, with an oil slick from a grounded tanker reaching Oman's coastline just as Iran signals that it may be prepared to sustain its confrontation with the United States for years.
Dubai Electricity and Water Authority (Dewa) has announced that it has delivered solid results for the first-half netting AED14.8 billion ($3.8 billion) revenue, its highest ever in a six-month period, and a net profit of AED3.33 billion ($898 million), up 15% over the same period last year.
Silverwell, a provider of innovative gas lift solutions to the energy sector, has secured a multi-well contract from a top Middle East operator for the deployment of its Digital Intelligent Artificial Lift (DIAL) technology. The program spans key offshore assets such as the high-rate extended reach drilling (ERD) wells.
A consortium of Saudi utility giant Acwa Power and US group Air Products has completed construction work on the $8.5-billion green hydrogen project at Oxagon within Saudi Arabia’s mega futuristic city NEOM, and commercial operations are set to begin next year, said a report.
Emirates Global Aluminium (EGA) has announced robust results for the first half, recording a 34% jump in adjusted net profit which rose to AED2.46 billion ($670 million) from AED1.84 billion ($500 million) helped by higher realised aluminium prices and stronger regional premiums.
The US Energy Information Administration has sharply raised its forecast for oil prices this year, warning that severe restrictions on shipping through the Strait of Hormuz are likely to persist through August despite President Donald Trump's repeated assertions that the strategic waterway is open.
Holcim UAE (earlier Lafarge Emirates Cement) has, in partnership with carbon storage innovator 44.01, achieved a major milestone in industrial decarbonisation with the commissioning of a continuous carbon capture and underground mineralisation pilot at a cement facility in Fujairah.
The Saudi Power Procurement Company (Principal Buyer) has extended the deadline for submitting RFQs for the third round of conventional IPP projects, based on Combined Cycle Gas Turbine technology, to August 23. These projects will be developed under the Build-Own-Operate (BOO) model.
Indonesia will build 30 gigawatts (GW) of solar power capacity and phase out 13 GW of diesel-fired power plants in 2026 as part of efforts to strengthen national energy self-reliance, President Prabowo Subianto said.
Vatel Bahrain has announced that applications for the 2026–2027 academic year will remain open until September 12. Prospective students can apply for Bachelor’s and MBA programmes in International Hotel Management.
Saudi Ports Authority (Mawani) said its key Jeddah Port has boosted its role as a hub for AE15 and AE19 shipping services operated by Gemini Cooperation, a vessel-sharing partnership between Maersk and Hapag-Lloyd. The services have been updated to transit Bab Al Mandab Strait and Suez Canal.
Islamic finance is evolving beyond its traditional role as a source of funding to become a strategic connector between liquidity-rich markets and fast-growing economies, says a new Standard Chartered report.
Portville Real Estate said it has started handing over residential units at its key Ville 11 project in Masdar City after receiving a building completion certificate from the Abu Dhabi authorities. The premium development features 111 residential units, including apartments, duplexes and triplexes.
Dr Shamsheer Vayalil, Founder, Chairman and Chief Executive Officer of Burjeel Holdings, has joined the Executive Board of the World Economic Forum’s Digital Healthcare Transformation (DHT) Initiative, bringing a health-system operator perspective from the Middle East to a global platform shaping the next phase of healthcare transformation.
National Bank of Bahrain (NBB) has appointed a new Equal Opportunities Committee to boost its governance framework and promote inclusion across its operations and customer services. EOC will oversee initiatives including women's empowerment, employee wellbeing, work-life balance and workplace experience.
ARMAF, the global fragrance powerhouse behind one of the world’s most celebrated fragrance collections, has announces acclaimed actor, producer and entrepreneur John Abraham as the global brand ambassador for its Club De Nuit Intense Overdose brand.
National Bank of Bahrain (NBB) has appointed a new Equal Opportunities Committee to boost its governance framework and promote inclusion across its operations and customer services. EOC will oversee initiatives including women's empowerment, employee wellbeing, work-life balance and workplace experience.
AIREV, the Abu Dhabi-based creator of the OnDemand autonomous AI platform, has entered into a strategic agreement with Qualcomm Technologies to advance autonomous AI across enterprise and government environments.
Bahrain's national carrier Gulf Air has announced that it will offer tailored travel packages combining flights, accommodation, airport transfers and race experiences for passengers travelling to capital Kuala Lumpur for the Formula 1 Gulf Air Bahrain Grand Prix 2026 in Malaysia.
PUBG MOBILE, one of the world's most popular mobile games, today announced a new collaboration between its World of Wonder (WOW) platform and UGC games studio Do Big Studios, introducing an all-new experience created exclusively for WOW.
Uncertainty over the future of the Strait of Hormuz deepened on Saturday as the United States and Iran traded conflicting claims over control of the strategic waterway, while commercial shipping remained severely disrupted and fresh attacks added to mounting concerns over the security of Gulf trade.
