Saudi Arabia's Public Investment Fund (PIF) Governor Yasir Al-Rumayyan said NEOM projects are presently being restructured to achieve higher economic efficiency and long‑term financial sustainability.
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Saudi Arabia's Public Investment Fund (PIF) has approved its 2026-2030 strategy which focuses on transforming PIF’s portfolio of 13 strategic sectors into six integrated economic ecosystems, strengthening the linkages among them and creating a broader spectrum of partnership and investment opportunities for the private sector.
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Fresh diplomatic signals from Tehran and Washington have raised cautious optimism about a potential deal to de-escalate tensions around the Strait of Hormuz and end the war.
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Iran has warned it could disrupt shipping in the Red Sea and beyond if the United States continues its naval blockade, even as U.S. President Donald Trump said the world should brace for an “amazing two days” that could bring the conflict close to an end.
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Businesses and investors in Saudi Arabia and the UAE are holding firm on their medium-term strategies despite the current situation in the Middle East, supported by intraregional supply chain redesign and increased use of AI, says an HSBC study.
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After withstanding higher trade barriers and elevated uncertainty last year, global activity now faces a major test from the outbreak of war in the Middle East, which threatens to disrupt growth, says the latest World Economic Outlook report from IMF.
Oil prices extended their decline on Wednesday, as cautious optimism over a possible resumption of US-Iran talks eased immediate supply fears, even as underlying risks from the ongoing conflict continued to cap losses.
Talks aimed at ending the Iran war could resume in Pakistan within the next two days, US President Donald Trump said on Tuesday, raising cautious hopes for a breakthrough even as a fragile ceasefire nears its expiry in the coming days.
Heavy Engineering Industries & Shipbuilding Company (Heisco) has announced that it has secured a key contract worth KD174.2 million ($563 million) from Kuwait Oil Company (KOC) for the construction of flowlines as well as other associated works at its project site in Kuwait.
Bahrain's Electricity and Water Authority (EWA) has announced that three utility firms are vying for the contract to develop 400kV and 220kV feeder cable works as part of the New Sitra Grid Substation project. The scope of work includes design, manufacture, supply, installation, testing and commissioning of the feeder cables.
GCC economies are set for a sharp rebound, with growth forecast to reach 8.5% in 2027, according to ICAEW’s latest Economic Insight Q1 2026 report, produced in partnership with Oxford Economics.
Quarterly net profits reported by companies listed on GCC exchanges witnessed a sharp sequential decline and reached the lowest level in 12 quarters during Q4-2025, said a Kamco research report.
The prime UAE real estate markets of Dubai and Abu Dhabi have reported strong demand for ultra-luxury residential properties, thus reflecting growing investor confidence and an increasingly selective market where capital is concentrating in key locations and credible developments, said an industry expert.
UAE-based Al Ghurair Development has announced that it has signed up top global practice Pelli Clarke & Partners as the lead masterplan design architect for its large-scale transit-connected, mixed-use masterplan community in Al Jaddaf, Dubai.
UAE developer Object 1 has announced the official launch of its inaugural residential project in Abu Dhabi - A1LA Residence - featuring 171 apartments, including one- to three-bedroom units as well as a limited collection of two- and three-bedroom duplexes across 17 residential floors.
Saipem secured two offshore EPCI contracts from Aramco in Saudi Arabia for Safaniya field water injection platforms, wellheads, pipelines, and cables, using regional vessels and local fabrication at its Saudi yard to support industrial development.
IATA highlighted aviation’s importance to Kazakhstan, noting its focus on the sector has boosted jobs and economic activity. Aviation supports 44,700 jobs and generates $2.1 billion in output, contributing 0.8% of the country’s GDP.
Saudi-based Mutlaq Al Ghowairi Contracting has announced that it has signed an agreement with Alfanar Projects to implement a 380 kV electrical substation unit within the scope of the works of the Jubail-Buraidah Independent Water Transmission Pipeline Project.
Businesses and investors in Saudi Arabia and the UAE are holding firm on their medium-term strategies despite the current situation in the Middle East, supported by intraregional supply chain redesign and increased use of AI, says an HSBC study.
Rolls-Royce Motor Cars has presented Project Nightingale, a Coachbuild Collection, an extraordinary production concept of an open two-seat motor car that introduces a dramatic new expression of Rolls-Royce design.
The International Fund for Agricultural Development (IFAD) has joined the World Bank Group's Water Forward, a new global initiative that aims to deliver water security for up to 1 billion people by 2030.
Digital Dubai has launched the “AI Workforce Transformation Program (AI+),” a strategic initiative to train 50,000 Dubai Government employees.
Dubai’s retail and warehouse sectors demonstrated resilience and growth in 2025, backed by strong fundamentals including record tourism, population boom and e-commerce activity. Both sectors, however, faced tightening supply conditions that shaped market dynamics throughout the year, said a report.
France and the Gulf Cooperation Council states will meet in Paris on June 18 and 19 June for Vision Golfe, a high-level forum designed to accelerate trade, investment and strategic cooperation between the two regions.
Cumulocity, a global leader in industrial AIoT, has signed a strategic partnership agreement with Aramco Digital to expand the deployment of its enterprise-grade platform across the region.
Nissan Motor Co has unveiled a new long-term vision aimed at reshaping its future around artificial intelligence-led mobility and a stronger focus on customer experience.
Art Dubai, held under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has announced the preliminary list of participants for its 2026 special edition taking place at Madinat Jumeirah from May 15 to 17 May.
Talks aimed at ending the Iran war could resume in Pakistan within the next two days, US President Donald Trump said on Tuesday, raising cautious hopes for a breakthrough even as a fragile ceasefire nears its expiry in the coming days.
