Iran said it would halt attacks on neighbouring Gulf states and apologised for recent strikes on the region, even as missile and drone attacks continued to be reported hours later, underlining the fragile security situation as the war with Israel entered its second week.
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One week after the United States and Israel launched military strikes on Iran, plunging the Middle East into turmoil, President Donald Trump faces mounting questions over whether early battlefield gains can translate into a durable geopolitical victory, say experts.
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Dubai-based Emirates airline has said it anticipated a return to 100% of its network within the coming days, subject to airspace availability, while Abu Dhabi-based Etihad Airways said it has restarted a limited commercial flight schedule on Friday (March 6).
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The United Arab Emirates and Japan have agreed on the final provisions of a Comprehensive Economic Partnership Agreement (CEPA), the first of its kind for Japan with an Arab country.
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The future of the Saudi heavy construction equipment market appears promising, driven by ongoing government initiatives and urbanisation trends. Under its Vision 2030 initiative, the kingdom aims to invest over $500 billion in mega housing and urban development projects, thus driving demand for advanced machinery, said a report.
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The foreign ministers of the Gulf countries and the European Union (EU) strongly condemned the unjustified Iranian attacks targeting GCC states, considering them a direct threat to regional and global security. In a joint statement issued after an extraordinary meeting, the ministers called on Iran to immediately halt its attacks.
Attacks on commercial shipping in the Gulf intensified on Thursday as the war between the US and Iran escalated, raising concerns about disruptions to energy supplies from one of the world’s most critical oil transit routes. Nine vessels have come under attack since the conflict broke out on Saturday.
A fire broke out at a unit of the BAPCO Energies refinery in Bahrain following an Iranian missile strike, a Bahrain news Agency report said.
Dubai-based Emirates and flydubai have said with the limited re‑opening of airspace, the airlines are operating a reduced flight schedule from Dubai until further notice.
Saudi Logistics Services Company has announced the signing of a sale and purchase agreement with Aviapartner Belgium NV and Aviapartner Holding NV for the acquisition of 100% stake in Belgium airport ground handling firm Aviapartner Liege for SAR123 million ($32.8 million).
A luxury apartment in Dubai has been sold off-plan for AED422 million ($114.91 million), and the deal has been hailed as powerful sign of confidence in the city’s real estate market, and security in the UAE.
The UAE banking and financial sector is resilient, strong, stable, and well-positioned to navigate regional developments, said Khaled Mohamed Balama, Governor of the Central Bank of the United Arab Emirates.
Oman has awarded contracts worth RO186.3 million ($483 million) for two key infrastructure development projects - the Muscat Expressway Expansion and the Ibra Road Dualisation. The scope of work includes construction of independent two-lane flyovers as well as key road expansion.
Saudi Arabia's heavy construction equipment market is poised for solid growth over the next few years with the market set to hit $3.5 billion by 2030, driven by the ongoing government initiatives and urbanisation trends. As the country continues to invest in mega projects, the demand for advanced machinery is set to rise, said a report.
Dubai’s Roads and Transport Authority (RTA) has announced the opening of two major bridges as part of Sheikh Rashid Corridor Development Project. The scope of work includes the upgrade of four major intersections and the construction of bridges and two tunnels spanning 4.3 km.
QatarEnergy is offering for lease 10 liquefied natural gas tankers currently located outside the Strait of Hormuz, said a report. These include at least four Q-Flex tankers with a 210,000 cu m capacity, which are able to carry up to 50% more volume than conventional LNG tankers mainly used for export to Europe or Asia.
Operations at Dubai International Airport (DXB) were temporarily suspended after an Iranian drone attack in the vicinity of the airport terminals, according to a statement from the Dubai Media Office.
The Saudi Ports Authority (Mawani) has announced the addition of Maersk’s new AE19 shipping service to Jeddah port. This service, utilising vessels capable of carrying upto 17,000 TEUs, links the major Saudi port to primary Asian hubs such as China, Korea and Malaysia.
One week after the United States and Israel launched military strikes on Iran, plunging the Middle East into turmoil, President Donald Trump faces mounting questions over whether early battlefield gains can translate into a durable geopolitical victory, say experts.
UAE-based Imtiaz Developments said it has achieved a key milestone by becoming the first developer in Dubai to complete and hand over a signature residential project at Dubai Islands. This feat was made possible with the successful delivery of Beach Walk by Imtiaz.
PureHealth, the largest healthcare group in the Middle East, and Yellow Door Energy, the leading sustainable energy partner for businesses in the Middle East and South Africa, have signed a master lease agreement to bring clean electricity to its network of hospitals and clinics in the UAE.
Dubai-based Union Properties has sealed a membership agreement with the Massachusetts Institute of Technology (MIT) through its globally recognised Industrial Liaison Programme in a move aimed at developing future-oriented models to help accelerate technology-led transformation in real estate.
UAE-based 2PointZero Group, a next-generation investment powerhouse focused on energy and consumer sectors, has acquired a majority stake in ISEM, a major European packaging group with interests in beauty, fashion, luxury and nutraceuticals, for AED704 million ($192 million).
Sharakah, Oman’s leading SME development company, has signed a memorandum of understanding (MoU) to provide Anfal Industries & Trading Company SPC, an Omani-owned manufacturer and distributor of industrial, cleaning, and laboratory chemicals, a Shariah-compliant financing facility to support its working capital requirements.
Zoho Corporation, a global technology company, marked its 30th anniversary on Thursday with the announcement that it is now a trusted technology provider to more than one million paying customers and more than 150 million users globally.
New Murabba Development Company, a wholly-owned subsidiary of Saudi Arabia's sovereign wealth fund PIF, has signed a strategic agreement with Electric Vehicle Infrastructure Company (Eviq) for deployment of EV charging infrastructure across key assets within its giga project - New Murabba.
The Endowments and Minors’ Funds Authority – Awqaf Abu Dhabi - has signed a memorandum of understanding with LuLu Group International to develop a portfolio of commercial projects valued at AED100 million ($27.23 million) on Awqaf Abu Dhabi endowment land, with returns supporting long-term care and improved quality of life for orphans in the UAE.
Iran said it would halt attacks on neighbouring Gulf states and apologised for recent strikes on the region, even as missile and drone attacks continued to be reported hours later, underlining the fragile security situation as the war with Israel entered its second week.
