Author: Dr Issac PJ

Abu Dhabi Commercial Bank (ADCB) on Tuesday reported a pre-tax profit of Dh5.94 billion for the first six months of 2025,  up 18 per cent year-on-year, as the bank’s strategic initiatives, digital transformation, and diversified income streams propelled strong growth across key metrics.Net profit after tax stood at Dh5.01 billion despite a higher tax provision under the UAE’s new 15 per cent corporate tax regime.Recommended For You Croatian legend Luka Modric joins AC Milan in one-year dealPakistan to create new paramilitary force ahead of more protests by Imran Khan’s partyDubai jumps in global wealth rankings as lifestyle appeal lures world’s…

Dubai has risen to the seventh place globally and fourth in the EMEA region as a preferred destination for high-net-worth individuals. In Julius Baer’s Global Wealth and Lifestyle Report 2025, Dubai underscored its meteoric rise as a sought-after global hub for the super rich,  climbing five spots from last year’s ranking, marking the largest leap across the Europe, Middle East, and Africa (EMEA) region, despite only a marginal one per cent increase in average local currency prices. The report, which tracks the cost of luxury living across major cities, paints a compelling picture of Dubai’s growing stature as a global wealth…

Dubai’s retail sector is undergoing a dramatic transformation as immersive experiences, digital innovation, and entertainment-led concepts take centre stage. With retail transactions worth Dh587 million recorded in the second quarter of 2025 alone, the emirate is underpinning its status as one of the world’s most vibrant consumer markets. According to CRC Property’s latest report, The CRC Edit, which tracks retail trends and commercial activity across the UAE, the future of retail is increasingly intertwined with storytelling, technology, and experience. With the announcement of Disneyland Abu Dhabi, the region is poised for an even larger leap into the realm of experiential…

While the overall funding remained below H1 2024’s figure of $1.8 billion, the 133 per cent increase over the $438 million raised in H2 2024 highlights a strong half-year recovery, positioning the UAE as one of the most active tech ecosystems in the Mena region while fuelling its ambition to become the Silicon Valley of the Middle East.   Dubai-based firms dominated the funding landscape, accounting for 93 per cent of total capital raised, with Abu Dhabi trailing as a distant second. Notably, two companies — Vista Global and Tabby — secured funding rounds exceeding $100 million. Vista Global attracted $600…

Dubai’s short-term rental market is enjoying robust growth across all pricing tiers, even as the broader rental market begins to show signs of stabilisation amid an expected surge in new housing inventory. The shift reflects a maturing market where tenants are increasingly weighing short-term flexibility against long-term commitments, and where new government initiatives and increased supply are bringing balance to previously overheated segments. According to new data from Bayut and dubizzle, demand for both monthly and daily rental formats has remained strong, particularly in lifestyle-centric areas such as Dubai Marina, Downtown Dubai, Business Bay, and Jumeirah Village Circle (JVC). The…

Dubai’s real estate market is entering a new era, powered by blockchain and tokenisation, as it emerges as a global hub for digital property investment. The city’s second fully tokenised property sale, completed earlier this month via the Dubai Land Department’s (DLD) pilot platform, sold out in under two minutes and drew investors from more than 30 countries — signaling a seismic shift in how the world views access to real estate. Tokenisation allows physical real estate assets, such as office buildings, residential towers, and mixed-use developments, to be split into digital tokens. These tokens represent fractional ownership and can…

The oil market is absorbing additional crude supplies from Opec+ without creating excess inventories, underscoring robust global demand and justifying the recent accelerated output hikes, UAE Energy Minister Suhail Al Mazrouei said in Vienna. Speaking on the sidelines of the 9th Opec International Seminar, Al Mazrouei emphasised that the oil market fundamentals remain strong despite persistent speculation and price volatility. He pointed to the lack of stockbuilds in recent months — even after eight core Opec+ members began raising production targets — as evidence that the market needed the additional supply. “You can see that even with the increases for…

A massive $4.3 trillion in global investment will be required by 2030 to meet surging demand for natural gas and support a balanced energy transition, according to Crescent Petroleum CEO Majid Jafar.Speaking at the 9th Opec International Seminar in Vienna, Jafar warned that the world is heading into a critical phase where all energy sources — including gas, oil and renewables — must be scaled up simultaneously to ensure a just, realistic, and resilient energy future.Recommended For You ‘Greet and go’: Dubai Airports announces new smart pickup service UAE, Pakistan discuss ways to enhance cooperation in financial fieldsIndia electoral roll…

Strategic adoption of artificial intelligence (AI) and bold action on climate resilience could boost the Middle East’s gross domestic product by as much as $232 billion by 2035, according to new research by PwC.The report identifies the UAE as a key driver of this transformative growth, thanks to its early investments in AI infrastructure, strong climate commitments, and leadership in renewable energy.Recommended For You Denis Villeneuve’s ‘Dune 3’ gets an official titleDebunking top 3 UAE Golden Visa rumours; what you need to knowRyder Cup countdown: Quiet confidence or calm before the storm for Team Europe?GFS Developments breaks ground on Coventry…

Global oil prices are poised to fall below $60 per barrel by year-end as Opec+ accelerates its unwinding of production cuts, catching markets off guard with an aggressive push to reclaim market share.In a surprise move over the weekend, the group announced a larger-than-expected hike of 548,000 barrels per day (bpd) for August, the fourth consecutive monthly increase in output, and signaled another 550,000 bpd rise in September. These supply additions will effectively complete the rollback of the 2.2 million bpd cuts initiated in 2023.Recommended For You Djokovic stays on track for Wimbledon glory under Federer gazeUAE extends housing loan…