Author: Dr Issac PJ
The Gulf’s long-awaited railway network is rapidly evolving from an economic integration project into a strategic necessity, as regional governments accelerate investments in rail infrastructure to strengthen supply-chain resilience, reduce reliance on maritime chokepoints and safeguard trade flows amid continuing geopolitical tensions in the Middle East.A new report by PwC Middle East shows the landmark GCC Railway project has reached approximately 50 per cent completion, with full operations targeted by 2030. Spanning more than 2,100km across six Gulf states, the network is expected to become one of the region’s most transformative infrastructure projects, reinforcing trade connectivity, economic diversification and logistics…
The UAEâÂÂs corporate sector demonstrated remarkable resilience in the first quarter of 2026, posting double-digit earnings growth even as war-related disruptions rattled trade routes, financial markets and business sentiment across the Middle East.Listed companies in Abu Dhabi and Dubai generated more than $17 billion in profits, powered by strong banking activity, a booming property market and sustained infrastructure spending, according to the latest GCC earnings review by Kamco Invest.The robust performance comes at a time when businesses across the region have been grappling with supply-chain disruptions, shipping restrictions and heightened geopolitical uncertainty. Yet the UAEâÂÂs diversified economy, supported by strong…
The UAE has emerged as the worldâÂÂs second most influential Islamic economy, overtaking several larger markets as it strengthens its position as a global hub for Islamic finance, halal trade, investment and digital innovation.According to the latest State of the Global Islamic Economy Report 2025/26 by DinarStandard, the UAE climbed to second place in the Global Islamic Economy Indicator (GIEI), up from fourth position in the previous two years, reflecting the countryâÂÂs growing leadership across virtually every segment of the Islamic economy.The report comes as the global Islamic economy enters a new phase of expansion, with Muslim consumer spending reaching…
India has reinforced its position as the world’s fastest-growing major economy, expanding 7.7 per cent in the 2025-26 fiscal year despite geopolitical tensions in the Middle East, elevated oil prices, a weakening rupee and slowing global growth.The strong performance comes even as the country remains sixth in the global GDP rankings in nominal dollar terms, a position largely influenced by currency movements and statistical revisions rather than economic fundamentals.The latest data from the Ministry of Statistics and Programme Implementation (MoSPI) showed that the economy grew 7.7 per cent during FY26, accelerating from 7.2 per cent in 2023-24 and 7.1 per…
Gold may have lost some of its glitter in recent weeks, but analysts believe the world’s favourite safe-haven asset remains firmly on track for another record-breaking year, supported by relentless central bank buying, geopolitical uncertainty, a weakening faith in fiat currencies and surging investment demand.After touching historic highs above $4,700 an ounce earlier this year amid the Middle East conflict and fears of global economic fragmentation, spot gold has entered a phase of consolidation. The metal was trading around $4,365 an ounce on Friday, pressured by stronger-than-expected US employment data that boosted the dollar and pushed Treasury yields higher.The pullback…
The world could be heading towards a fresh energy shock unless the Strait of Hormuz is fully reopened within weeks, according to Fatih Birol, Executive Director of the International Energy Agency (IEA), who has warned that the global economy is rapidly running out of the buffers that have so far prevented a much deeper oil crisis.In one of his starkest assessments since the outbreak of the US-Iran conflict, Birol said the world is approaching a critical juncture as emergency oil inventories are depleted and peak summer travel demand begins to gather pace across Asia, Europe and North America.âÂÂIf we are…
Bitcoin suffered one of its sharpest declines this year on Thursday, tumbling more than 7 per cent to below $62,000 and wiping out more than $1.1 billion in leveraged positions, as investors fled riskier assets amid escalating geopolitical tensions and fading institutional appetite for cryptocurrencies.The world’s largest cryptocurrency dropped to its lowest level since February, extending a prolonged correction that has erased more than half of its value from the all-time high of $126,210 reached in October last year.According to CoinMarketCap data, Bitcoin’s market capitalisation has shrunk to about $1.24 trillion, down nearly 50 per cent from its peak valuation…
[Editor’s Note: Follow the media live blog for the latest regional developments with the US-Israel-Iran ceasefire now in effect.]India’s rupee is facing its most severe test in recent memory, with economists warning that the currency could weaken to a record Rs98 against the US dollar, or to Rs96.70 against the dirham, by July and potentially breach the psychologically important Rs100 mark if the Middle East conflict drags on and oil prices remain elevated.The warning comes as India’s currency struggles under the combined weight of soaring energy costs, heavy foreign fund outflows and mounting geopolitical uncertainty. The rupee, already Asia’s worst-performing major currency this…
[Editor’s Note: Follow the media live blog for the latest regional developments with the US-Israel-Iran ceasefire now in effect.] Global oil markets are entering a critical phase as the prolonged disruption to shipping through the Strait of Hormuz threatens to push crude prices towards $150 a barrel, a level that economists warn could trigger significant economic pain across both energy-importing and energy-exporting nations.Brent crude climbed back towards the $97 mark on Wednesday after fresh military action in the Middle East reignited concerns about supply disruptions in one of the world’s most important energy corridors. The August Brent contract was trading at $96.99…
The UAE’s non-oil private sector continued to expand in May despite mounting geopolitical tensions in the Middle East and the most severe supply-chain disruptions since the Covid-19 pandemic, underscoring the resilience of the country’s diversified economy and the adaptability of businesses operating in the region.The latest S&P Global UAE Purchasing Managers’ Index (PMI) rose to 52.6 in May from 52.1 in April, signalling a further improvement in business conditions across the non-oil economy. Although the pace of expansion remained below the long-term survey average of 54.3, the increase points to continued growth at a time when businesses worldwide are grappling…