Author: Dr Issac PJ

Oil prices dipped midweek as market sentiment shifted in response to the International Energy Agency’s latest forecast, which indicated that global oil supply is set to outpace demand this year. Brent crude futures slipped 41 cents, or 0.6 per cent, to $65.71 a barrel by mid-morning London time, while US West Texas Intermediate fell 50 cents, or 0.8 per cent to $62.67. Analysts pointed to the combination of the American Petroleum Institute’s latest inventory data and the IEA’s softer demand outlook as key drivers of the downward move, even as the market awaits Friday’s meeting between US President Donald Trump…

Al Ansari Financial Services, the largest non-banking financial institution and services provider in the GCC, has reported record results for the first half of 2025, with operating income rising 13 per cent year-on-year to Dh638 million. The growth was driven by the consolidation of the recently acquired BFC Group results from the second quarter and strong performance across most business lines, underscoring the group’s market leadership and resilience despite geopolitical headwinds, the group said in a statement. Ebitda climbed 11 per cent to Dh287 million, maintaining a 45 per cent margin. Net profit after tax increased 3 per cent to…

Salik Company, Dubai’s exclusive toll gate operator, has reported a record performance in the first half of 2025, with net profit after taxes rising 41.5 per cent year-on-year to Dh770.9 million. In a move reflecting confidence in its strong financial position, the board has proposed a cash dividend of the same amount, equivalent to 10.278 fils per share and representing 100 per cent of H1 profit. The company said in statement that total revenue for the period surged 39.5 per cent to Dh1.53 billion, supported by a 45.6 per cent year-on-year increase in the second quarter. Ebitda reached Dh1.07 billion…

Bitcoin is fast approaching uncharted territory, with prices surging as US President Donald Trump’s steep tariffs on imported gold bars jolt traditional safe-haven markets and redirect capital into the world’s largest cryptocurrency. A potent mix of macroeconomic shifts, institutional inflows, and policy reforms is propelling Bitcoin to the forefront of global finance, redefining its role as “digital gold.” Early Monday, Bitcoin jumped more than 3.3 per cent to $122,150, according to TradingView, inching closer to its all-time high of $123,000 set earlier this summer. The rally followed Trump’s decision to impose a 39 per cent tariff on imported gold —…

Talabat Holding has reported strong financial results for the second quarter of 2025, prompting the Mena region’s leading online ordering and delivery platform to raise its full-year guidance. The company posted a 32 per cent year-on-year increase in gross merchandise value (GMV) to $2.4 billion, with revenue up 35 per cent to $982 million. On a constant currency basis, GMV growth reached 33 per cent and revenue climbed 36 per cent. Adjusted Ebitda rose 31 per cent to $166 million, maintaining a 6.8 per cent margin, while net income jumped 33 per cent to $119 million, or 4.9 per cent of…

Emirates Central Cooling Systems Corporation  (Empower), the world’s largest district cooling services provider, reported a 7.1 per cent increase in consumption during the first half of 2025 compared to the same period in 2024. The growth, measured in refrigeration tons per hour (RTh), was attributed to high occupancy rates in existing projects and the addition of new developments to the company’s portfolio. Empower said in a statement that the expansion has further diversified its customer base, which includes residential, commercial, hospitality, healthcare, retail, entertainment, and other sectors. These industries are increasingly adopting energy-efficient cooling solutions to reduce carbon emissions and…

Adnoc Logistics & Services has reported its highest-ever quarterly results for Q2 2025, with revenue rising 40 per cent year-on-year to $1.26 billion and Ebitda increasing 31 per cent to $400 million. Net profit for the quarter was up 14 per cent to $236 million, underscoring the company’s resilience in a challenging global shipping market. For the first half of 2025, revenue climbed 40 per cent to $2.44 billion, with Ebitda growing 26 per cent to $744 million, maintaining a robust 30 per cent margin. Net profit for the period rose 5 per cent to $420 million, supported by strong…

Global bullion markets were thrown into turmoil after a surprise ruling from US Customs and Border Protection suggested that imported gold bars would be subject to tariffs, stunning traders who had assumed the metal would be exempt. The move triggered a dramatic spike in New York futures, which hit a record high before retreating sharply when the Trump administration signalled it would issue an executive order to clarify what it called “misinformation” about the tariffs. The episode underscored the vulnerability of the global gold trade to sudden policy shifts. Gold, usually treated as a financial instrument rather than a physical…

Dubai Multi Commodities Centre (DMCC) delivered a strong performance in the first half of 2025, adding more than 1,100 new companies to its global business district as it capitalised on rising foreign direct investment (FDI) flows and the launch of new licensing structures tailored to global investors. The new additions lift DMCC’s total membership close to 26,000, reinforcing its status as a leading hub for trade, technology and investment. The growth was fuelled by heightened demand from overseas markets such as the United Kingdom, Türkiye and China, which together accounted for some of the highest registration gains in recent years.…

The Indian rupee is facing fresh pressure, hovering around Rs87.55 – Rs87.66 per US dollar, as a resurgent dollar index, hefty new tariffs on Indian exports to the US, and continued foreign money outflows weigh on the currency’s outlook. According to market data, one US dollar now fetches approximately Rs87.55 to Rs87.66 in onshore trading, with the Reserve Bank of India (RBI) stepping in frequently to stem volatility. Against the UAE dirham, the rupee trades at around Rs23.80 per Dh1—reflecting modest weakening, with one rupee equivalent to just 0.0419 dirham. Over the past five years, the rupee has depreciated steadily…