DP World, a global leader in logistics and trade, is set to implement atmospheric water generation (AWG) technology throughout its operations after making a strategic investment in Maithri Aquatech. This innovative technology harnesses moisture from the air to produce clean drinking water, addressing critical water scarcity issues in many regions. The partnership with Maithri Aquatech...
Dubai, often perceived as a wealthy oil city, has undergone a significant economic transformation over the past few decades. Once heavily reliant on oil, which constituted around 50% of its GDP in the 1980s, Dubai has successfully diversified its economy to reduce this dependency to under 1% today. This shift highlights the emirate’s strategic focus...
Market speculation indicates that the Bank of England may need to increase interest rates by September as a response to rising oil prices, largely driven by the ongoing conflict in Iran. Investors are adjusting their expectations based on current economic conditions and geopolitical developments that have contributed to what many are calling an energy shock....
The latest findings from Capgemini’s World Wealth Report reveal that global private wealth held by dollar millionaires has surged to an unprecedented $98.3 trillion. This substantial increase highlights the resilience and growth of private capital, even in the face of ongoing economic uncertainties. The report underscores a significant trend where affluent individuals continue to accumulate...
Binance, a leading cryptocurrency exchange, is celebrating its ninth anniversary, highlighting significant achievements that underscore its dominant position in the digital asset market. According to recent statistics, nearly 50% of all crypto holders globally utilize Binance for their trading and investment activities. This remarkable figure reflects the platform’s widespread adoption and trust among users in...
The India-UK trade deal, effective from July 15, marks a significant milestone in India’s trade relations, becoming the sixth free trade agreement initiated under Prime Minister Narendra Modi’s administration. This agreement is set to enhance exports, particularly in key sectors such as textiles, pharmaceuticals, and machinery, thereby strengthening India’s global trade position. One of the...
Emirates NBD, the largest bank listed in Dubai based on assets, is reportedly in the race to acquire a majority stake in India’s IDBI Bank with a revised bid. The move comes as part of a competitive bidding process that has drawn interest from several financial institutions globally. According to reports, Canada’s Fairfax Financial Holdings...
Crude oil prices have experienced a notable increase as tensions between the United States and Iran escalate following the collapse of a recent ceasefire agreement. August WTI crude oil has seen a rise of 1.04%, reaching a one-month high, while gasoline prices have risen by 1.47%, marking a 1.5-month peak. This uptick reflects the market’s...
In a significant policy shift, U.S. President Donald Trump has retracted his proposal to impose a 20% fee on cargoes transiting through the strategically critical Strait of Hormuz. This decision marks a pivot from a taxation strategy aimed at regulating maritime trade routes to a more collaborative approach focused on fostering trade and investment partnerships...
Dubai Islamic Bank (DIB) has reported a noteworthy increase in its financial performance for the first half of 2026, with gross revenue rising by 10% year-over-year to reach AED 12.4 billion. This growth has been largely attributed to the bank’s diversified income streams, which include both funded and non-funded sources. The bank’s strong revenue performance...