Category: Latest Updates

MERA Oil has shortlisted three Gulf locations for a planned $5 billion refinery and energy export complex, with the US-Saudi consortium aiming to select a host jurisdiction before the end of 2026. The proposed development would include a 200,000-barrel-a-day refinery, deepwater port facilities, large crude and refined-product storage capacity and marine export infrastructure. The shortlisted sites are outside the Strait of Hormuz, reflecting growing commercial interest in export routes less exposed to disruption at the strategic waterway. MERA Oil was formed by

Arabian Post Staff -Dubai Aldar Properties posted an 18% rise in first-half net profit after tax to AED 4.9 billion, supported by the conversion of its development backlog into revenue and stronger recurring income from its investment properties portfolio.Revenue for the six months ended June increased 8% year on year to AED 16.8 billion, while gross profit climbed 17% to AED 6.2 billion. Earnings before interest, tax, depreciation and amortisation rose 19% to AED 6.3 billion, and earnings per share

Arabian Post Staff -Dubai Dubai Aerospace Enterprise has completed its acquisition of Macquarie AirFinance, lifting the value of the transaction to about US$9 billion and creating the world’s third-largest aircraft lessor by fleet value and the number of owned and managed aircraft.The Dubai-based aviation services group acquired 100% of Macquarie AirFinance’s outstanding share capital and its consolidated subsidiaries. The final enterprise value includes changes in the acquired company’s fleet between the announcement of the transaction in February and its completion

Arabian Post Staff -Dubai A claim that the United States and the UAE have launched their first joint military artificial intelligence initiative under the name Task Force Talon Synapse has circulated online, but no official announcement confirming the programme could be identified.The assertion, promoted by the social media account BRICS News, described the purported project as a new bilateral defence effort. However, neither the US Department of Defense nor the UAE Ministry of Defence has published details of an initiative

Arabian Post Staff -Dubai Saudi Aramco has shut its 400,000-barrel-a-day Jazan refinery after an attack damaged the Red Sea facility, intensifying concerns over fuel supplies and the security of the kingdom’s western energy infrastructure.The refinery was taken offline following the assault on Aramco installations in Jazan, also spelt Jizan, near the border with Yemen. The extent of the damage, the units affected and the expected duration of the shutdown were not immediately clear. Aramco had not issued a detailed public

Arabian Post Staff -Dubai Dubai International Financial Centre has surpassed 10,000 active registered companies for the first time, sustaining rapid growth despite war-related disruption, weaker regional confidence and pressure on several parts of Dubai’s economy.The number of active companies operating from DIFC reached 10,018 at the end of June, up 30 per cent from a year earlier. The centre attracted 2,318 additional active businesses over the 12-month period, including 1,506 that joined during the first half of 2026, a 39

Arabian Post Staff -Dubai Oil prices slumped on Monday after the United States and Iran halted attacks, raising hopes that diplomacy could prevent a wider conflict and restore stability to critical energy routes across the Middle East.Brent crude, the benchmark for more than two-thirds of global oil supplies, fell 9.13 per cent to $87.94 a barrel by 11.55pm UAE time. West Texas Intermediate dropped 7.94 per cent to $82.22 a barrel, reversing much of the risk premium accumulated during two

Arabian Post Staff -Dubai Tension gripped Maldare near Siddapura after a tomb-like structure was found inside the Gaddigebetta Sri Siddeshwara Temple premises, prompting hundreds of villagers and activists to stage a protest demanding swift arrests.Temple staff discovered the flower-decorated structure on Sunday morning after entering the hilltop premises. The management alerted Siddapura police and lodged a complaint alleging that unidentified people had entered the restricted area and created the structure to offend religious sentiments and disturb communal harmony.Investigators were examining

Arabian Post Staff -Dubai Sharjah has extended its flagship summer shopping and tourism campaign until 15 September, giving retailers, hotels and entertainment venues additional time to attract visitors during the holiday and back-to-school periods.Sharjah Summer Promotions 2026 is being organised by the Sharjah Chamber of Commerce and Industry and the Sharjah Commerce and Tourism Development Authority, with the participation of government bodies, private companies, shopping centres and hospitality operators across the emirate.The campaign, launched on 1 July, offers discounts of

Arabian Post Staff -Dubai du has completed the deployment of its National Hypercloud platform for Dubai Taxi Company, establishing what the partners describe as the UAE’s first fully operational sovereign hyperscale cloud environment for the transport sector.The project moves Dubai Taxi Company’s core technology workloads onto infrastructure hosted and operated within the UAE, giving the mobility provider greater control over sensitive operational data while expanding its access to advanced computing, artificial intelligence and database services.The deployment follows an agreement signed

Arabian Post Staff -Dubai DP World has completed the main dredging programme at Senegal’s Port of Ndayane 13 months ahead of schedule, clearing the way for accelerated construction of quays and other maritime infrastructure at the $1.2 billion deep-water development.The completed works include a five-kilometre access channel dredged to a depth of 20 metres, a 600-metre turning basin and an 875-metre berth pocket. The marine infrastructure will allow two Triple E-class container ships, among the world’s largest commercial vessels, to

Arabian Post Staff -Dubai Dubai has opened a three-lane bridge carrying traffic from Al Khail Road towards Al Asayel Street, advancing a major road development designed to reduce congestion and shorten journey times across several busy districts.The bridge, opened by the Roads and Transport Authority on July 26, can accommodate 3,600 vehicles an hour. Motorists travelling towards Al Asayel Street will reach the route through Al Wasl Club Street, creating a more direct connection between major roads serving central Dubai.Construction

Arabian Post Staff -Dubai e& UAE has activated 1024QAM modulation on its live commercial 5.5G network, achieving a download speed of 4.58 gigabits per second and marking the first deployment of the technology on an operational mobile network in the region.The Abu Dhabi-based operator recorded 4,587 megabits per second during a live speed test using the Huawei Pura 90s, one of the first smartphones designed to support the higher-order modulation scheme. The activation represents another step in e& UAE’s transition

Arabian Post Staff -Dubai Dubai Islamic Bank has launched its Jaywan Debit Card for current and savings account customers, widening access to the UAE’s national card scheme through the country’s largest Islamic bank.The rollout connects DIB’s broad retail banking base to a locally developed payments network intended to strengthen domestic transaction processing, improve infrastructure resilience and keep sensitive payment data within the UAE. Existing current and savings account holders will be eligible for the card, although the bank has not

Arabian Post Staff -Dubai The UAE and Indonesia are moving to deepen financial cooperation through interconnected payment systems, local-currency transactions and digital innovation aimed at making cross-border transfers faster and less costly.Central Bank of the UAE Governor Khaled Mohamed Balama discussed the proposals with Indonesia’s Ambassador to the UAE, Judha Nugraha, during a meeting at the central bank’s headquarters in Abu Dhabi. Assistant governors and senior officials from both sides also attended.The discussions covered possible links between the countries’ payment

Arabian Post Staff -Dubai Abu Dhabi Global Market has recognised Tether Gold as an Accepted Spot Commodity, opening the way for licensed financial firms in the centre to provide regulated services involving the gold-backed digital token.The designation covers XAU₮, issued by Tether through its commodities business. Each full token represents ownership of one fine troy ounce of physical gold allocated from a London Good Delivery bar and held by a custodian in a secure vault.Recognition does not amount to unrestricted

Arabian Post Staff -Dubai Al Maktoum International Airport’s first expansion phase remains scheduled to begin operations in 2032 as Dubai accelerates construction, runway development and the award of major infrastructure contracts.The project has moved into large-scale construction, with contracts valued at more than AED13 billion under execution and packages worth over AED55 billion expected to be awarded during the next stage. Work completed during the past 15 months has exceeded 10 million labour hours, indicating a sharp increase in activity

Houthi forces launched missiles and drones at Saudi oil facilities on the Red Sea coast as the United States halted its bombing of Iran after 13 consecutive nights, opening a narrow diplomatic pause while the regional conflict spread towards a second vital shipping corridor. The Yemen-based group said Saturday’s coordinated operation targeted Saudi Aramco installations in Jizan, close to the Yemeni border, and Yanbu, the kingdom’s principal Red Sea oil-export centre. Houthi military spokesman Yahya Saree said ballistic and cruise

Arabian Post Staff -Dubai Prime Minister Narendra Modi’s first X post after Dharmendra Pradhan resigned as Union education minister celebrated Sarnath’s entry on the UNESCO World Heritage List, leaving the biggest political concession of his third term unaddressed. The message appeared about two hours after Pradhan announced his exit, and Modi had made no public comment on the resignation by at least 6.15 pm on Saturday.Modi called the inscription “a proud moment for every Indian” and said Sarnath’s association

Arabian Post Staff -Dubai ADGM has updated its Commercial Permits framework with new regulations and detailed guidance governing sales and promotional activities, aiming to simplify approvals while strengthening consumer protection across Abu Dhabi’s international financial centre.The revised framework establishes clearer requirements for businesses, professionals and other eligible entities seeking to conduct promotions within ADGM’s jurisdiction, which covers Al Maryah Island and Al Reem Island. It applies across commercial sectors and is intended to create a consistent regulatory route for activities

Arabian Post Staff -Dubai US President Donald Trump has made Saudi Arabia’s normalisation of relations with Israel a condition for advancing a newly signed civil nuclear cooperation agreement, adding a major diplomatic hurdle to a deal already facing scrutiny over uranium enrichment and safeguards.Trump said on Thursday that the agreement was “totally subject” to Riyadh joining the Abraham Accords, the US-backed framework that established diplomatic relations between Israel and several Arab states during his first term. He also said Saudi

Arabian Post Staff -Dubai A California court has invalidated parts of the state’s Diwali holiday law, creating uncertainty over how schools and public employers must accommodate those observing the Festival of Lights.The ruling leaves the formal recognition of Diwali as a state holiday intact but limits provisions governing its implementation, the Hindu American Foundation said. The organisation described the judgment as a setback for a measure intended to allow families to celebrate without students missing classes or public employees sacrificing

Arabian Post Staff -Dubai Dubai’s off-plan property boom is pushing developers to offer more distinctive architecture, stronger lifestyle concepts and higher construction standards as buyers become increasingly selective in the emirate’s crowded luxury housing market.The real estate sector recorded about 87,800 transactions valued at AED291.7 billion during the first half of 2026. Off-plan properties represented 71 per cent of all deals, underlining the central role of projects sold before completion in sustaining market activity.MERED said the figures showed that demand

Arabian Post Staff -Dubai Abu Dhabi Islamic Bank has become the first bank worldwide to deploy Visa’s Threat Intelligence Platform, integrating cyber and payments intelligence into its fraud-prevention operations.The early adoption gives ADIB’s cybersecurity, fraud and risk teams real-time information on threats that could lead to stolen credentials, compromised accounts and fraudulent transactions. The bank is also working with Visa to design the platform’s first use cases and operational framework.The deployment moves fraud detection further upstream. Instead of examining suspicious

Arabian Post Staff -Dubai Saudi Arabia’s Air Connectivity Program has signed an agreement with premium leisure airline beOnd to explore direct flights between Red Sea International Airport and six major European cities.The proposed all-premium services would connect the Red Sea tourism destination with London, Paris, Moscow, Milan, Munich and Zurich. The memorandum of understanding was signed during Saudi Arabia’s participation in the Farnborough International Airshow 2026, held near London from July 20 to 24.The partnership is intended to widen access

Arabian Post Staff -Dubai Ras Al Khaimah Economic Zone has partnered with Fazaa to give eligible employees of registered companies access to membership benefits, discounts and services across the UAE.The agreement allows qualifying workers to subscribe through RAKEZ to Fazaa’s Silver, Gold and Platinum membership tiers. Benefits are available across healthcare, restaurants, retail, automotive services, beauty and wellness, furniture, property services and car rentals.RAKEZ will facilitate the registration and issuance of memberships, creating a direct route for companies within the

Arabian Post Staff -Dubai Dubai’s largest lender Emirates NBD reported a second-quarter net profit of AED6.4 billion, beating market expectations as strong lending, resilient margins and its expanded international business offset disruption from the regional conflict.Profit was broadly unchanged from the first quarter, while earnings for the first six months of 2026 rose 3 per cent from a year earlier to AED12.9 billion. The performance underlined the bank’s ability to maintain income and customer activity despite weaker conditions in parts

Arabian Post Staff -Dubai Flynas has confirmed an order for 25 additional Airbus aircraft, strengthening its plans to expand domestic, regional and international services as Saudi Arabia accelerates investment in aviation and tourism.The agreement covers five A330-900 widebody aircraft and 20 A321neo single-aisle jets. It raises the Riyadh-based low-cost carrier’s firm commitments with Airbus to 235 aircraft, including 20 A330neos and 56 A321neos.The order gives Flynas a larger mix of high-capacity and longer-range aircraft, allowing it to serve busy

Arabian Post Staff -Dubai The Ministry of Human Resources and Emiratisation has introduced Tabby as an instalment payment option for service fees and administrative fines, allowing eligible customers to spread obligations of up to AED20,000 over four to 12 months.The new facility is available through the ministry’s digital channels and can be used by individuals and businesses completing eligible transactions. It provides an alternative to making a full payment at once, reducing the immediate financial pressure associated with large government

Arabian Post Staff -Dubai Airlines should adopt a globally consistent method for calculating and displaying flight emissions as travellers and corporate customers demand clearer carbon information, the International Air Transport Association has said.The industry body is pressing carriers, booking platforms, travel agencies and regulators to use comparable operational data rather than competing calculation models that can produce sharply different estimates for the same journey. The absence of a common framework can leave passengers uncertain about which flight carries the lower

Arabian Post Staff -Dubai Saudi Arabia’s crude oil exports fell for a third consecutive month in May, reaching the lowest level recorded in more than two decades as conflict-driven shipping disruption across the Gulf constrained the kingdom’s ability to move supplies to overseas buyers.Exports dropped to 3.434 million barrels per day from 3.986 million bpd in April, data submitted to the Joint Organisations Data Initiative showed. The monthly decline of almost 14 per cent extended a steep contraction that began

Arabian Post Staff -Dubai The UAE has outlined the eligibility and application requirements for its five-year multiple-entry tourist visa, offering frequent travellers a longer-term alternative to standard short-stay permits.The visa is open to applicants of all nationalities who meet the financial, documentation and travel conditions. It does not require sponsorship by a UAE resident, company, hotel or tourism agency, allowing travellers to apply directly through official immigration channels.Designed mainly for tourists, frequent visitors, family visitors and business travellers, the permit

Arabian Post Staff -Dubai Abu Dhabi has begun operating a centralised waterway monitoring and control centre designed to strengthen maritime safety, improve emergency coordination and support public marine services across the emirate.The facility, managed by the Integrated Transport Centre, known as Abu Dhabi Mobility, brings surveillance, vessel movement data, regulatory enforcement and service management into a single digital platform. Abu Dhabi Maritime, part of AD Ports Group, operates the centre in coordination with the National Guard.The centre covers navigational channels

Arabian Post Staff -Dubai A Dubai-based digital marketplace is expanding direct hiring of models, actors, influencers and entertainers, giving businesses a faster route to creative professionals for advertising campaigns, productions and events.GulfGotTalents allows brands, advertising agencies, production houses, casting directors and event organisers to search verified profiles using criteria including location, profession, language, age and experience. Employers can post assignments, receive applications and communicate directly with candidates, reducing dependence on intermediaries during the early stages of casting.The platform covers television