Across the Gulf’s glittering skylines, where cranes signal progress and megaprojects reshape the horizon, a more subdued story is taking shape beneath the surface. Rising inflation, supply chain disruptions and broader global uncertainty are steadily driving up living costs, placing increasing pressure on construction professionals.
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Mixed signals from the United States are adding to uncertainty over the direction of the Iran conflict, even as Donald Trump is set to receive a high-level military briefing on potential next steps.
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Oil prices continued to climb on Thursday with no sign of easing, as markets priced in a prolonged supply squeeze from the Middle East following stalled negotiations and firm signals from Donald Trump that the blockade on Iran will remain in place.
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US President Donald Trump has said that he is going to keep Iran under a naval blockade until the regime agrees to a deal that addresses US concerns about its nuclear programme.
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International Air Transport Association (IATA) has reported that global passenger demand in March rose 2.1%, while capacity fell 1.7%, lifting load factor to 83.6%. International demand dipped 0.6% amid a 60.8% Middle East traffic drop.
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The United Arab Emirates’ planned exit from OPEC and OPEC+ from May 2026 is expected to have limited immediate impact on oil markets in the near term but could weaken the group’s supply management over time, HSBC said, while OPEC+ sources signalled the alliance would remain broadly intact.
Oil prices went up further on Wednesday, extending a multi-day rally, as the Iran and US blockades of the Strait of Hormuz continued.
US President Donald Trump said Iran had indicated it was in a “state of collapse” and was seeking the urgent reopening of the Strait of Hormuz, even as efforts to end the two-month conflict remained deadlocked.
OKX, a global fintech company, has launched a joint framework with BlackRock and Standard Chartered to integrate BlackRock’s BUIDL tokenised short-term treasury fund into collateral workflows, thus marking the first time a globally systemically important bank (G-SIB) has acted as custodian in such an arrangement.
The GCC projects market experienced a slowdown in the first quarter due to the Middle East conflict with the total value of contracts plunging 9.7% to $61.2 billion, according to a report. This contraction was driven largely by a substantial downturn in contract awards within Saudi Arabia and UAE.
In a shock move poised to rattle global oil markets, the UAE has announced it will exit the Organisation of the Petroleum Exporting Countries and its wider Opec+ grouping, effective May 1, 2026.
NMDC Energy, a key provider of engineering, procurement, and construction (EPC) services for offshore and onshore energy clients, delivered a solid performance in Q1 with its revenues surging 33% to hit AED5 billion ($1.36 billion), driven by the continued execution of its robust project backlog.
Saudi Arabia’s tourism, hospitality, and events sectors have transformed under Vision 2030. By 2025, tourism contributed 5% of GDP, attracted 123 million visitors, generated SAR300 billion ($80 billion), and supported strong non-oil economic growth.
Dubai’s real estate market recorded over AED180 billion ($49 billion) in residential and commercial sales during the first three months of the year, supported by a surge in ultra-luxury property transactions and sustained demand across both sectors, according to a market report.
Across the Gulf’s glittering skylines, where cranes signal progress and megaprojects reshape the horizon, a more subdued story is taking shape beneath the surface. Rising inflation, supply chain disruptions and broader global uncertainty are steadily driving up living costs, placing increasing pressure on construction professionals, writes Matt Doran, Senior Regional Manager MENA, Chartered Institute of Building.
The UAE Fuel Price Committee announced May 2026 fuel prices, keeping diesel unchanged to support logistics and supply chains, while petrol saw minor adjustments reflecting global trends under a flexible, transparent monthly pricing system ensuring market stability.
Wego, an online travel marketplace in Mena, has announced a strategic collaboration with the Türkiye Tourism Promotion and Development Agency (TGA) to enhance how travellers across the Mena region discover, explore, and plan trips to Türkiye.
Saudi Arabia's National Shipping Company Bahri has delivered solid results for the first quarter of 2026 with a 129% growth in its revenue which soared to SAR4.96 billion ($1.32 billion) driven primarily by higher freight rates, while its net profit surged to hit SAR2.15 billion ($572 million).
Across the Gulf’s glittering skylines, where cranes signal progress and megaprojects reshape the horizon, a more subdued story is taking shape beneath the surface. Rising inflation, supply chain disruptions and broader global uncertainty are steadily driving up living costs, placing increasing pressure on construction professionals.
UAE-based Durar Group has appointed Ali & Sons as the main contractor for its flagship branded residential development - Moonstone Interiors by Missoni - on Al Marjan Island in Ras Al Khaimah. A premium development, it features 226 sea-facing residences along with key amenities.
The Emirates Drug Establishment (EDE) has officially granted approval for EURneffy, a novel epinephrine-based treatment available in 1 mg and 2 mg strengths, making the UAE the first country in the region to authorise this innovative therapy.
Qatar's Public Works Authority (Ashghal) has announced that over 90% work is now complete at Sidra - Education City project and is on track for opening by year-end. Spanning 74,000 sq m, the key educational facility features a main two-storey building with classrooms and multi-purpose halls.
E-commerce business in the UAE jumped by 20 per cent since February this year, as most consumers maintained work from home and study from home to ensure public safety, according to a report.
Citi has announced senior leadership appointments across its Banking & International franchise, effective August, with roles based between London and Dubai.
Ooredoo, a major telecom company, has announced a strong start to 2026, delivering higher profitability and solid earnings momentum in the first quarter.
A new partnership between Parkin, the largest provider of paid public parking facilities and services in Dubai, Glydways, the first company providing Flow Networks (AV2.0) to global cities, will integrate autonomous mobility into Dubai’s parking network.
FROMM., a luxury contemporary furniture and home accessories design brand operating from Doha (Qatar) and Milan (Italy), has announced that it has signed a new partnership agreement with Sharjah Research, Technology and Innovation Park at the recent Milan Design Week event.
Mixed signals from the United States are adding to uncertainty over the direction of the Iran conflict, even as Donald Trump is set to receive a high-level military briefing on potential next steps.
