Greenlogue/AP Gulf Cooperation Council countries recorded a clear rise in their overall Circular Carbon Economy Index score, posting 41.5 in 2024, up from 37.7 in 2023, according to data issued by the Statistical Centre for the Cooperation Council for the Arab Countries of the Gulf. The figures show that GCC countries posted gains in global circular carbon economy rankings, as three GCC states ranked at the top […]
Only global newswire to provide guaranteed news postings with Mediacorp and SPH Media SINGAPORE – Media OutReach Newswire – 8 September 2025 – Media OutReach Newswire, Asia Pacific’s first global newswire, has further cemented its reputation as the leading newswire for Singapore and Southeast Asia, with guaranteed news posting partnerships with Mediacorp and SPH Media, Singapore’s two leading media companies. Dedicated page on CNA for Media OutReach […]
Dubai is witnessing a sharp rise in gold-driven fortunes as long-established Indian entrepreneurs reshape its jewellery sector. Titan Company, known for its Tanishq brand, will acquire 67 per cent of Damas, a leading luxury jewellery retailer with some 146 outlets across the Gulf, for 1.04 billion dirhams, in a deal expected to close by 31 January 2026. This bold expansion markedly strengthens Titan’s foothold under its emerging […]
Net profits for banks listed across the Gulf Cooperation Council surged to an unprecedented $16.6 billion in the second quarter, marking the second straight quarter of gains and a sequential increase of roughly 3.7 %, with year-on-year growth at a robust 9.2 %, according to Kamco Invest. This performance was driven by broadly higher revenues and a lower cost-to-income ratio that more than compensated for a rise in impairments. Lending activity remained resilient, underpinned by strong economic fundamentals and a pipeline of projects in the region.
Banks across the GCC achieved strong growth, with net profits rising 10.3 % year-on-year to $16.6 billion in Q2 2025, according to the latest Kamco Invest analysis. The sequential increase of about 3.7 % was fuelled by a broad-based rise in revenues, while a leaner cost-to-income ratio offset the impact of elevated impairments. Lending growth persisted, reflecting healthy demand and continued economic momentum.
Abu Dhabi led regional outperformers as its banks posted aggregate Q2 earnings of $3.2 billion—a 23.1 % rise compared to the year before. First Abu Dhabi Bank stood out with a 29.4 % surge in quarterly net profits to $1.5 billion, supported by stronger non-interest income and lower impairment charges. Abu Dhabi Commercial Bank and Abu Dhabi Islamic Bank also delivered solid gains, buoyed by elevated interest and fee income.
Dubai’s banks, by contrast, experienced a contraction: aggregate city-listed earnings fell by 6.4 % to $3.2 billion, weighed down by increased impairments at major lenders such as Emirates NBD. Some resilience came from Commercial Bank of Dubai, which posted a 15.4 % rise, alongside a surge in real-estate and utilities profits—Emaar Properties and DEWA among the top performers.
Among other GCC markets, Q2 net profits for Oman-listed banks were around $1 billion, while those in Qatar also posted gains, contributing to the overall strength in the banking sector.
The headline figure—$16.6 billion in quarterly profit for GCC banks—captures the scale of the region’s banking sector resilience. This strong performance highlights how GCC banks post record-high quarterly profits, powered by sustained credit growth and operational efficiencies even amid higher impairments.
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Arabian Post Staff -Dubai Deal volumes across the Middle East hit 271 in the first half of 2025, up from 228 a year earlier, defying a 9 per cent contraction in global M&A activity. The region owes this strong performance to sovereign capital, regulatory reforms, and strategic investments in high-growth sectors. Middle East M&A Volume Climbs Amid Global Decline now captures the robust upswing. Driving this growth […]
LONDON / SINGAPORE – Media OutReach Newswire – 8 September 2025 – Forvis Mazars, a leading international audit, tax and advisory firm, today announced a strategic partnership in Singapore with EcoOnline, a global provider of safety and sustainability software. This partnership will further enable Forvis Mazars and its clients to adopt EcoOnline’s advanced environmental, social, and governance (ESG) solution, enhancing the firm’s own suite of sustainability reporting […]
A wave of ransomware incidents has incapacitated over 300 co-operative banks across India, exposing deep vulnerabilities tied to outdated VPN-based security. These attacks underline the urgent need for a shift towards modern access frameworks such as Zero Trust Network Access. Operational disruptions began when C-Edge Technologies—a key IT provider to numerous co-operative banks—was targeted by ransomware on 31 July 2024. NPCI responded swiftly by isolating C-Edge from […]
Undersea cables in the Red Sea were severed on September 6, 2025, causing significant internet disruptions across parts of Asia and the Middle East. The affected cables include the South East Asia–Middle East–Western Europe 4 and the India–Middle East–Western Europe, both vital for regional connectivity.
Microsoft reported increased latency for users in the Middle East, while NetBlocks, a digital rights group, confirmed that the outages impacted countries such as India and Pakistan. The disruptions have also affected cloud services, with Microsoft Azure experiencing service degradation due to rerouted traffic.
The cause of the cable cuts remains unclear. While there is concern that the Houthi rebels in Yemen may have targeted the cables as part of their campaign related to the Israel-Hamas conflict, the group has denied responsibility for such attacks. In early 2024, the Houthis had threatened to target undersea cables, but no direct evidence has been presented linking them to the current incident.
Medium’s decision to address AI-generated content on its platform has stirred a lively discussion among users and industry stakeholders alike. As artificial intelligence continues to gain ground in content creation, the platform is outlining its approach to ensure transparency while preserving its core commitment to human storytelling. Earlier this year, Medium reached out to its community for feedback regarding the rise of AI-generated writing. In response, users […]
Lagos State’s commercial capital has opened its doors to West Africa’s premier tech, AI and startup gathering—GITEX NIGERIA—positioning the city as Africa’s launchpad for tomorrow. At the event’s Lagos leg, Governor Babajide Sanwo-Olu underscored the city’s ambition to spearhead a future shaped by data-driven governance and inclusive digital access, while Nigeria’s Minister of Communications, Innovation and Digital Economy, Hon. Dr Bosun Tijani, issued a call for continental […]
China’s AI sector is accelerating beyond reliance on imported semiconductors, leaning into algorithmic ingenuity and open-source collaboration to offset hardware constraints and project growing soft power abroad. Chinese firms face significant barriers in securing the most advanced GPUs, due to U. S. export restrictions. Rather than compete on sheer processing capacity, companies such as DeepSeek have turned to architectural innovation. Its R1 large language model, released under […]
European regulators have slapped Google with a €2.95 billion fine for leveraging its dominance in ad-tech to favour its own services, while President Trump has launched warnings of retaliatory trade measures—even as the €2.95 billion ad-tech sanction on Google marks the latest escalation in transatlantic friction. The European Commission’s investigation, which began in mid-2021, concluded that Google distorted competition across the 27-member bloc by prioritising its AdX […]
Thailand’s incoming prime minister, Anutin Charnvirakul, will nominate veteran economic official Ekniti Nitithanprapas to lead the finance ministry, aiming to stabilise an economy weighed down by US tariffs and mounting household debt.
Anutin, fresh from his parliamentary victory and poised to assume the premiership, unveiled his cabinet selections on Saturday, naming experienced hands to key posts: Ekniti for finance, diplomat Sihasak Phuangketkeow for foreign affairs, and energy executive Auttapol Rerkpiboon to helm the energy ministry. Seasoned Bureaucrat Bound for Finance Ministry signals a clear intention to anchor the economic team with trusted professionals.
Anutin said he chose Ekniti due to his broad leadership across the finance ministry’s departments and his readiness to meet the challenges of the role swiftly. He underscored the appointee’s capacity to help guide Thailand through the turbulence created by US-imposed tariffs and persistent high levels of household debt.
Ekniti, 54, brings an extensive résumé. He has served as director-general across revenue, excise, and treasury departments, and held roles at the Fiscal Policy Office and State Enterprise Policy Office. His résumé also includes positions as financial attaché in London, adviser at the World Bank, and board chairmanships across major financial institutions and state enterprises—including Siam Commercial Bank, EXIM Bank, and Thai Airways.
Anutin’s selections come at a critical juncture. Thailand’s economy has been under strain from weaker growth compared to regional peers, ongoing political unrest, border tensions with Cambodia, declining tourism, and disruptions linked to global trade pressures—particularly from US tariffs. These factors have combined to sap investor confidence.
The finance nomination must receive royal assent before becoming official. Assuming approval, Ekniti will carry the mandate to reassure markets and manage policy responses that address fiscal and external vulnerabilities. His depth of institutional experience positions him as a credible figure to help guide economic policy swiftly during the transition.
The integration embeds Ripple Payments into Thunes’s Direct Global Network, spanning 130 + countries and over 80 currencies. This union leverages Ripple’s global payout infrastructure—serving 90 + markets and covering more than 90 % of daily FX flows, with over US $70 billion processed—bringing real-time, cost-efficient, and transparent transactions to Thunes’s vast network.
Chloe Mayenobe, President and COO of Thunes, emphasised that the partnership bridges traditional finance and digital assets, enabling seamless, compliant cross-border payments at scale. She stressed the importance of real-time settlement and robust local integrations in scaling financial access globally. Fiona Murray, Managing Director for Asia-Pacific at Ripple, underscored how combining Thunes’s payment reach with Ripple’s digital asset infrastructure enhances speed, accessibility, and compliance.
This move extends Thunes’s capability to deliver payouts in local currencies in regions with limited banking access, particularly through its SmartX Treasury System. Ripple Payments is now integrated into SmartX, bolstering liquidity management and last-mile delivery in underbanked markets.
Analysis from BeInCrypto notes that this alignment enables faster settlement and improved compliance, especially where mobile wallets like GCash, M-Pesa, and WeChat Pay dominate. For enterprises, the collaboration promises efficient global transfers with lower friction. Crowdfund Insider adds that the partnership broadens payout reach while streamlining money movement across key markets.
Electronic Payments International confirms the integration into SmartX, reinforcing Thunes’s treasury capabilities and enhancing its services. CryptoBriefing highlights the joint effort to improve speed, transparency and compliance across Thunes’s global network by incorporating Ripple Payments.
This development reflects an industry shift: traditional payment networks increasingly adopt blockchain infrastructure to reduce costs and boost efficiency. Thunes, with its “Smart Superhighway” platform covering billions of mobile wallets, bank accounts, and cards, stands well-positioned to harness Ripple’s tools for expanding financial inclusion.
Thunes, founded in 2019 and headquartered in Singapore, already partners with PayPal, Uber, Grab, Paytm, and others, serving a global footprint that includes more than 3 billion accounts across 130 countries. The integration with Ripple strengthens its proposition to these and other clients seeking faster, more transparent cross-border transfers.
Kathmandu blocked access on 4 September 2025 to 26 social media and communication platforms, including Facebook, X and YouTube, after they failed to register with the Ministry of Communications and Information Technology by a government-imposed deadline. Users attempting to reach these services have found them inaccessible, while the digital move has prompted intensified debate about regulation versus censorship. The government’s action stems from a directive issued on […]
Bankers across the Gulf anticipate a surge in initial public offerings over the coming months, aiming to offset a sluggish first half that was disrupted by Ramadan’s overlap with March, followed by heightened volatility tied to US tariffs and escalating regional tensions. They project that this end-of-year activity will allow the UAE to rival Saudi Arabia in dollar-volume IPO activity. Arabian bankers expect Middle East dealmaking surge […]
Emergency crews are fighting a serious fire that has engulfed the upper floors of a nine-storey mixed-use building at the former BBC Television Centre on Wood Lane, White City. Around 100 firefighters attended the site by mid-morning on Saturday, joined by 15 fire engines and two 32-metre turntable ladders used as water towers. A drone team is aiding the operation by providing aerial oversight, while a rest […]
Abu Dhabi’s G42 is offering 2 % of its shareholding in its subsidiary, Presight AI, to institutional investors through an accelerated book-build, aiming to raise slightly more than $100 million. The transaction will reduce G42’s holding in the analytics group from 70.5 % to 68.5 %, while retaining majority control. First Abu Dhabi Bank and Jefferies are acting as joint global coordinators and joint bookrunners, with International Securities serving as joint bookrunner.
Demand for the placement has been strong, with books reportedly fully covered ahead of finalisation. Settlement is expected around 10 September 2025, following final terms being set by 4 September. G42 has also committed to a 180-day lock-up period before any further sale of its Presight shares.
The strategic purpose behind G42 lowers Presight AI stake via ABB is to broaden and institutionalise Presight’s investor base, enhance liquidity, and strengthen its case for inclusion in the FTSE Emerging Market Index. Greater free float and international institutional ownership would increase trading activity and appeal to passive investment funds.
Presight AI, which listed on the Abu Dhabi Securities Exchange in 2023, has posted strong financials through 2025. Its share price has risen by approximately 67 % year-to-date, closing recently at AED 3.47. In the first half of 2025, organic revenue grew by 33.5 %, supported by new domestic contracts. In the second quarter, group net profit rose by nearly 8 % to Dh77 million, with revenue up by over 53 % to Dh523.9 million. International markets now contribute 26.8 % of revenue, up from just 4.9 % a year earlier.
G42 group CFO Ricky Thirion described Presight as “a critical pillar of the G42 ecosystem and a cornerstone of our Intelligence Grid offering,” noting that its performance reflects consistent growth and strong leadership.
Regionally, secondary offerings like this one are gaining traction. In 2025, follow-on sales across the Middle East have raised roughly $3.7 billion, surpassing IPO proceeds—a sign of deepening market maturity.
The placement’s proceeds will go entirely to G42, with no dilution or impact on other shareholders or Presight’s operations.
Abu Dhabi’s G42 has therefore engineered a measured recalibration of its ownership in Presight AI—G42 lowers Presight AI stake via ABB—while securing capital, expanding its shareholder base, and positioning the company for broader market inclusion and visibility.
Cape Town’s CEM Africa Summit set a high benchmark in August with a three-day assembly of workshops, panels and keynotes on AI-driven personalisation, omnichannel integration and CX leadership strategies, firmly reaffirming the continent’s place in shaping customer engagement futures. Building on that momentum, Johannesburg gears up for another CX powerhouse when CEM heads to Sandton on 20 November 2025 at the NH Hotel. The Johannesburg edition will […]
BERLIN, GERMANY – Media OutReach Newswire – 5 September 2025 – Global lighting innovator Olight is making a bold statement at IFA 2025 in Berlin with the launch of its new ArkPro Series. The slogan of this series is “Rethink Light, Reimagine Style” This series of advanced portable flashlights includes ArkPro, ArkPro Ultra and ArkPro Lite, and integrates multiple functions into one, redefining the performance and design […]
HONG KONG SAR – Media OutReach Newswire – 5 September 2025 – The Hainan Free Trade Port Tourism and Culture (Hong Kong) Series Promotion Events will be held from September 7 to 11 at Hong Kong’s K11 Art Mall, marking a new chapter of tropical island tourism in China for visitors from Hong Kong and beyond. The Hainan Free Trade Port Tourism and Culture (Hong Kong) Series […]
Roblox has entered into a strategic alliance with the International Age Rating Coalition to overhaul its content labelling system, replacing its existing maturity labels with recognised regional ratings such as ESRB in the United States, PEGI in the UK and Europe, USK in Germany, and GRAC in South Korea. Simultaneously, the platform will expand age-estimation requirements for all users accessing communication features by year-end, using technology like […]
A surge in hunger has struck Nigeria, as sharply diminished aid inflows have forced closures of nutrition centres and blocked treatment for countless children at risk of malnutrition. Aid cuts from the United States and other Western donors have triggered an abrupt collapse in food assistance across northeast regions, particularly Borno State, the epicentre of a long-standing insurgency. In northeastern Nigeria, the United Nations’ World Food Programme […]
Tether is weighing entry into the gold industry by initiating discussions with mining, refining, trading and royalty firms to channel its crypto-generated profits into bullion-linked ventures. The company holds US $8.7 billion in gold reserves stored in Zurich as collateral, and already holds a minority stake in a royalty firm, with talks underway to expand that involvement. This move marks a strategic shift toward physical assets, seeking to broaden its exposure across the gold supply chain and diversify beyond the cryptocurrency market. While CEO Paolo Ardoino has likened gold to “natural bitcoin”, the gold sector has responded to the overture with caution and scepticism.
Tether’s consideration of investments in new realms of the gold industry underscores a calculated attempt to strengthen its position beyond USDT’s dollar peg. The firm has reportedly held talks with multiple royalty companies and even mining investment vehicles—but not all discussions have yielded results. Notably, Tether’s efforts include growing its exposure via Elemental Altus, a Toronto-listed gold royalty company in which it holds a minority stake, with potential for further investment. Talks with Terranova Resources reportedly ended without agreement.
Tether already anchors its stablecoin operations with nearly US $8.7 billion in gold backing, using physical bullion to support its broader digital asset ecosystem. The gold-backed token XAU₮ remains modest in scale compared to its dollar-pegged counterpart, holding a market value of approximately US $880 million.
Parallel to these strategic talks, Tether’s gold-backed offering—Tether Gold —demonstrates measurable growth. As of the end of June 2025, around 246,524 XAU₮ tokens were in circulation, each representing one fine troy ounce of physical gold; the total backing equates to more than 7.66 metric tonnes of gold. A paraphrase of the headline above encapsulates the thrust: Tether eyes gold mining expansion.
