Central banks in the UAE, Saudi Arabia and Bahrain raised their key interest rates by 25 basis points on Wednesday, following the US Federal Reserve's decision to increase its benchmark rate for the first time since 2023 amid renewed inflationary pressures.
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Oil prices pulled back sharply from four-month highs on Thursday, easing from above $108 a barrel as Saudi Arabia moved to restore disrupted crude flows, while a US interest-rate increase added pressure to the market.
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Dubai has approved the first phase of a 80-km New Fourth Corridor project linking Sharjah and Abu Dhabi, with the initial stage costing about AED3.5 billion ($953 million). To be implemented in two phases, the project scope includes construction of 72 bridges, 17 tunnels and 45 stormwater drainage culverts.
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Bahrain will host the first race of the 2027 FIA Formula One World Championship calendar, which will feature 24 Grands Prix across 22 countries and 10 Sprint events.
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Artificial intelligence (AI) offers emerging markets significant opportunities, but also poses serious risks, said a report, highlighting the need to seize opportunities across three fronts - building digital infrastructure, data ecosystems and investing in skills - to avoid relegation to the margins of the future AI-enabled economy.
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Saudi Arabia is ramping up investment in artificial intelligence and digital infrastructure, led by its wealth fund PIF as the country seeks to attract technology capital and build domestic AI capabilities. The kingdom ranked first globally in digital governance and cybersecurity indicators, and third in AI models.
The International Federation of Consulting Engineers (FIDIC) has launched a major new report at its Global Infrastructure Conference (GIC26) in New Delhi, setting out the evidence base for qualifications-based selection as the preferred procurement method for engineering and architectural consultancy services worldwide.
Emirates signed 11 partnership agreements at Arabian Travel Market, covering tourism promotion, customer experiences, worker welfare and specialist travel services. Agreements were renewed with Sri Lanka, Maldives and tourism bodies, while new deals covered Ras Al Khaimah, Japan, Italy, OWWA, Cisalpina Tours and Kuwait Airways.
e& UAE and Accenture have signed a memorandum of understanding (MoU) to launch the AI Transformation Alliance aiming to accelerate digital and AI-led transformation across government and enterprise sectors in the UAE, with the potential to extend the collaboration into selected international markets.
Saudi Arabia’s Knowledge Economic City has signed an agreement with Almajdiah and Capital Hill for the development of a new residential project in Madinah at an estimated cost of SAR2.8 billion ($738 million). The project will boast around 2,700 residential apartments as well as 8,000 sqm net leasable commercial space.
Abu Dhabi's Miral has announced plans to invest more than AED12 billion ($3.3 billion) across Yas Island over the next five years, reflecting a clear focus on expanding its existing leisure attractions as well as boosting the hospitality offering, adding new hotel rooms and elevating its accommodation portfolio.
Oil prices rose further on Tuesday as renewed Houthi attacks on Saudi Arabia added to growing concerns over energy supplies, with Brent crude gaining $1.58 to $107.30 a barrel and US West Texas Intermediate (WTI) rising $1.64 to $103.
Riyadh Cement Company said it had signed an agreement with Samana Energy, a leading IPP specialising in renewable energy and sustainable solutions, to purchase solar-generated electricity for a 25-year period. The power generation system is expected to begin operations in Q4 2027.
Expo 2030 Riyadh and Mohammed Al Habib Real Estate Company (MAHR) have signed an SAR3.2 billion ($853 million) joint venture agreement for the development and delivery of the Expo Village, the residential community for Expo 2030 Riyadh.
Parkin Company, the largest provider of paid public parking facilities and services in Dubai, has entered into a partnership with uPay, a UAE-based payment solution provider, to enable Parkin wallet top-ups through uPay’s extensive kiosk network across the country.
SLB has secured a contract from Equinor to expand real-time leak detection, virtual flow metering and digital production monitoring at the Johan Sverdrup Phase 3 development in Norway’s North Sea.
Dubai will celebrate Korean culture this September with the inaugural Dubai K-Fest 2026, a 10-day citywide festival featuring K-pop concerts, Korean cinema, K-beauty, fashion, food, shopping and cultural experiences.
A number of agreements and memoranda of understanding were signed during the Saudi Industry Forum, to support industrial development and localise technologies.
Saudi Arabia’s innovation agenda is entering a new phase, with the focus shifting beyond technology manufacturing and adoption towards greater investment in R&D, the development of homegrown innovations and technologies, stronger control over intellectual property creation, says Ahmad Saleh, Partner and Head of Innovation, Patents & Industrial Property at Al Tamimi & Company.
GAA Living, a major provider of strategic consulting services for the rental living sector, is boosting its presence across the Middle East with new offices in Dubai and Abu Dhabi that will focus on sharing its services with clients in the UAE and Saudi Arabia.
The World Health Organisation (WHO) has said that there are encouraging signs of declining Ebola transmission in some of the worst-affected areas of the Democratic Republic of the Congo, with more than 1,700 patients having recovered.
Boston Consulting Group (BCG) has announced the expansion of its Riyadh office, adding space and headcount to serve growing client demand across Saudi Arabia.
ENOC Group, an integrated global energy player, and Landmark Group, an omnichannel retail and hospitality business, have announced a strategic partnership allowing members of their YES Rewards and Shukran loyalty programmes to exchange points between the two platforms in the UAE.
Parkin Company, the largest provider of paid public parking facilities and services in Dubai, has entered into a partnership with uPay, a UAE-based payment solution provider, to enable Parkin wallet top-ups through uPay’s extensive kiosk network across the country.
The Dubai Electronic Security Centre (DESC) and the Financial Audit Authority (FAA) have signed an MoU to strengthen institutional integration and exchange specialised expertise and knowledge.
The Saudi Industry Forum 2026 has discussed opportunities to develop the automotive industry and build integrated local supply chains
Index Saudi Arabia, the country's leading trade show for interiors, furniture and fit-out, kicks off today in Riyadh bringing together some of the top global architects, interior designers and design academics for the 2026 edition, who will explore the kingdom’s evolving design and fit-out landscape.
Saudi Arabia said its air defences intercepted and destroyed a Houthi drone south of Makkah before it could enter the prohibited airspace over the holy city, as the Kingdom faced a widening campaign of attacks by the Iran-aligned Yemeni group.
