business

Global end user spending on generative AI to hit $14.2 billion this year, says Gartner

By 2028, 30 percent of GenAI deployments will be optimized using energy-efficient computation methods, spurred by sustainability goals

Dubai issues new law regulating contracting activities to enhance oversight, compliance, and transparency

Contractors must comply with new rules or face penalties ranging from AED1,000 to AED100,000

DP World signs 30-year $800 million agreement to revitalize Syria’s Port of Tartus and trade infrastructure

Tartus is Syria’s second-largest port, vital for trade routes across Europe and the Levant

Bitcoin reaches record high of $122k as institutional adoption accelerates ahead of Crypto Week

Institutional investors are adding Bitcoin to their portfolios, viewing it as a safe-haven asset 

Crude oil prices rise above $70.5 as investors watch U.S. sanctions, OPEC+ output

Brent crude futures reached $70.51, while WTI saw gains amid ongoing tariff uncertainty and sanctions

Dubai 24-carat gold price today hits three-week peak at AED404.50 as market reacts to trade fears

Gold prices soared as U.S. trade tensions prompted safe-haven demand among investors

OPEC projects $10.6 trillion investment needed for oil sector by 2040

OPEC Secretary General emphasized the need for balanced policies to achieve energy security and climate goals 

Moody’s upgrades Oman’s credit rating to Baa3 with stable outlook, citing improved debt metrics

Oman’s government debt burden fell to 35.5 percent of GDP, continuing an improvement trend since 2020 

UAE, Chad discuss strategies for enhancing collaboration in the financial sector

The meeting included several senior Chadian officials, highlighting strong diplomatic ties between the nations

Qatar and China boost air traffic efficiency with strategic cooperation agreement

Trade between the two countries surged from $10.6 billion in 2014 to $24.5 billion in 2023 

Dubai real estate: Ultra-prime homes represent 4 percent of market volume in 2025

Notable deals in H1 2025 included a record-breaking AED 425 million sale in Emirates Hills and an AED 300 million beachfront villa on The Palm Jumeirah

Bitcoin surges past $118,000: What’s fueling the crypto market’s optimism?

Institutional investors are returning, viewing Bitcoin as a hedge against economic uncertainty