Keywords: Dubai


TotalEnergies books over $1 billion cornering Middle East crude in historic oil bet

TotalEnergies generated more than $1 billion in profit this month by cornering the Middle East crude oil market during one of the most volatile periods in energy trading history, according to reporting by the Financial Times and Bloomberg. The French energy giant's trading arm purchased 69 cargoes......

Dubai property market shows early signs of weakness amid regional tensions

Dubai’s once-resilient property market is beginning to show early signs of strain as geopolitical tensions in the Middle East weigh on investor confidence and transaction activity. Recent data from market analysts indicate a noticeable slowdown in real estate transactions across the United Arab......

Drone strike near Dubai airport disrupts flights as Gulf aviation crisis deepens

A drone strike near Dubai International Airport forced a temporary suspension of flights early Monday, intensifying an aviation crisis across the Gulf that has already grounded tens of thousands of flights since the start of United States and Israeli strikes against Iran. More than 52,000 flights to......

Swiss banks expect Gulf wealth inflows as Iran war drives capital flight

Wealth managers in Switzerland are preparing for a surge of capital from Gulf investors as the conflict involving Iran shakes financial confidence in Middle Eastern economic hubs. Bankers and advisers overseeing more than one trillion dollars in assets say wealthy individuals across the Gulf are considering......

Bloomberg allows Gulf staff to relocate as Iran attacks intensify

Bloomberg LP has told employees based in Gulf countries, including those at its regional headquarters in Dubai, that they may temporarily relocate and work from outside the region as Iranian attacks continue to escalate, according to a company spokesperson speaking to Reuters. The move makes Bloomberg......

KLM suspends Dubai flights until March 28 amid Middle East conflict

Dutch airline KLM said Wednesday it will cancel all flights to and from Dubai until March 28 as the conflict affecting the Middle East continues to disrupt aviation routes across the region. In a statement, the airline said the decision was taken because of ongoing instability in the region. “Due......

Dubai gold trades at rare discount as war disrupts global bullion flows

Gold is trading at an unusual discount in Dubai, one of the world’s most important hubs for physical bullion trade, as conflict involving the United States, Israel, and Iran disrupts transport routes and breaks the supply chains linking the precious metal to global markets. Traders in Dubai are......

Wall Street banks offer UAE staff temporary relocation amid Iran conflict

Several major Wall Street banks have offered employees in the United Arab Emirates the option of temporarily relocating as missile and drone attacks linked to the conflict involving Iran continue to affect the Gulf region. Goldman Sachs, Morgan Stanley and Citigroup have informed staff in the UAE that......

UAE hit by new drone and missile strikes despite Iranian apologies

The United Arab Emirates (UAE) faced new drone and missile attacks on Saturday, causing a brief suspension of operations at Dubai International Airport, despite apologies from Iranian President Massoud Pezeshkian to neighboring countries. The strikes targeted Saudi Arabia, Kuwait, Qatar, and the UAE,......