The UAE's real gross domestic product grew by 3 percent in the first quarter of 2026 to reach AED485 billion ($132.06 billion) at constant prices, while non-oil GDP grew by 4.8 percent, raising its contribution to 79.4 percent of the national economy.
India's top engineering and construction conglomerate Larsen and Toubro (L&T) has announced that its key subsidiary L&T Energy Hydrocarbon Offshore (LTEH Offshore) has secured an ultra-mega order - valued at over Rs150 billion ($1.57 billion) - from ADNOC Offshore for development of multiple offshore facilities.
Global chemical leader Saudi Basic Industries Corporation (Sabic) has announced that it has completed the sale of its engineering thermoplastics (ETP) business in the Americas and Europe to Mutares SE & Co, thus marking a key step in its portfolio optimisation strategy.
Aquatech, a global provider of water and process technology solutions, has announced the acquisition of UAE-based Metito Chemical Solutions (Metichem) in a deal aimed at expanding its portfolio of specialty water treatment chemicals and operational services in the Middle East and North Africa region.
Saudi Aramco reported a strong financial performance for the first half of 2026, posting adjusted net income of $67.2 billion, as the world's largest oil producer maintained crude supplies despite unprecedented disruptions to shipping through the Strait of Hormuz.
A fresh attack on a commercial vessel near the Strait of Hormuz and the diversion of Saudi-operated tankers away from the Red Sea underscored mounting risks to global energy supplies on Tuesday, even as the US and Iran issued conflicting statements over the status of negotiations.
Saudi Arabia's Nama Chemicals has begun arbitration proceedings against a consortium of Green Dimension Company for Environmental Services and Confident Engineering International after terminating two contracts with its key unit, Jubail Chemical Industries (Jana), over alleged contractual breaches.
The Kingdom of Saudi Arabia remains one of the world's most active real estate development markets, supported by robust non-oil economic growth, regulatory reforms and a multi-billion-dollar pipeline of infrastructure and property developments, said a leading property expert.
Gulf Warehousing Company, a leading logistics group in the region, has signed a 15-year leasing agreement with Safari Shopping Center for a dedicated commercial retail project within Logistics Village Qatar. The long-term deal features a 3,613-sqm built-up retail facility alongside 5,000 sqm of dedicated parking space.
Shaker Group, a leading manufacturer and distributor of air conditioners and home appliances in Saudi Arabia, has reported SAR743.1 million ($198.2 million) revenue for the first half, down 3.4% from the same period last year, mainly due to a decline in its HVAC solutions business.
