The International Monetary Fund (IMF) has raised its economic growth forecast for the Middle East and North Africa this year, despite a gloomy global prediction. The regional economy is now expected to grow by 3.4%, up from 3.1% in April. Globally, growth is forecast at 3.1%, compared to 3.2% three months ago. IMF largely blames the negative outlook on Brexit, saying the financial and oil markets started recovering earlier this year, under the assumption that the UK would remain in the EU.
DXB aims for 85% operation recovery by end of 2026
Dubai International Airport (DXB) is likely to make an 80-85 per cent operational recovery by the end of 2026 following the regional developments, announced CEO of Dubai Airports Paul Griffiths.
Microsoft sued by shareholders over expenses, cloud business, AI
Microsoft has been sued by shareholders who accused the company of defrauding them and inflating its stock price by failing to disclose slowing growth in its Azure cloud business and the need to spend billions of dollars on AI infrastructure.
HyveGeo wins Dubai Holding's top innovation award
UAE climate-tech company HyveGeo has been crowned the winner of Dubai Holding's Innovate For Tomorrow Impact Accelerator, securing pilot funding and the opportunity to test its solutions within Dubai Holding's business ecosystem.
Etihad offers free medical travel insurance for visitors
International visitors arriving in Abu Dhabi on Etihad-operated flights will receive complimentary medical travel insurance as part of a new partnership between the airline and the Department of Culture and Tourism - Abu Dhabi.
SpaceX vaults over $2 trillion valuation as stock jumps after record IPO
SpaceX jumped 23 per cent in its Nasdaq debut on Friday, as investors piled in to the world's largest IPO and bet on Elon Musk's sprawling empire spanning rockets, internet service and AI.
