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Is the dollar driving gold prices down? Here’s what you need to know

The dollar index rose 0.3 per cent against its rivals, making gold more expensive for other currency holders

Reuters
Reuters

10 June, 2025

Is the dollar driving gold prices down? Here’s what you need to know
Image credit: Getty Images

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Gold prices declined on Tuesday, hurt by an uptick in the US dollar as market participants awaited details from the second day of trade talks between the US and China in London.

Spot gold fell 0.6 per cent to $3,307.72 an ounce, as of 0502 GMT. US gold futures slipped 0.8 per cent to $3,327.50.

Read-Gold set for worst drop in six months: Find out why

The dollar index rose 0.3 per cent against its rivals, making gold more expensive for other currency holders.

The trade talks between the world’s two largest economies encompass issues ranging from tariffs to rare earth metals restrictions.

“With US-China trade talks still in the works, gold is trading reservedly until we see any progress is made between the two global superpowers,” said Tim Waterer, chief market analyst at KCM Trade.

US President Donald Trump said his administration was “doing well” in the negotiations.

Last month, both sides agreed to a temporary pause in tariffs against each other, offering some relief to financial markets.

Data from China showed export growth slowed to a three-month low in May as US tariffs affected shipments, while factory-gate deflation worsened to its deepest level in two years.

Meanwhile, US inflation data, due on Wednesday, could give investors more guidance on the US Federal Reserve’s monetary policy path.

“If CPI has ticked marginally higher, that would be an expected result, but if it jumps, then that could raise some alarm bells for investors, and any resulting flight to safety could help the gold price,” Waterer said.

Gold gains appeal during times of geopolitical and economic uncertainty and tends to do well when interest rates are low.

Elsewhere, spot silver was down 0.5 per cent to $36.52 per ounce, platinum was flat at $1,219.65, while palladium gained 0.4 per cent to $1,078.94.

Saudi Arabia’s real GDP grows 3.4% in Q1 2025

The growth was primarily driven by a 4.9 per cent increase in non-oil activities and a 3.2 per cent rise in government activities

Gulf Business
Gulf Business

10 June, 2025

Saudi Arabia’s real GDP grows 3.4% in Q1 2025
Image: Getty Images/ For illustrative purposes

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Saudi Arabia’s real gross domestic product (GDP) grew by 3.4 per cent in Q1 2025 compared to the same period in 2024, according to new data released by the General Authority for Statistics (GASTAT) on Saturday.

The growth was primarily driven by a 4.9 per cent increase in non-oil activities and a 3.2 per cent rise in government activities, the report showed.

Meanwhile, oil activities saw a slight decline of 0.5 per cent year-on-year.

On a seasonally adjusted basis, real GDP grew by 1.1 per cent compared to Q4 2024.

Saudi Arabia’s non-oil activities were key contributors

GASTAT highlighted that non-oil activities were the main contributor to the annual GDP expansion, adding 2.8 percentage points.

Government activities contributed 0.5 percentage points, while net product taxes added 0.2 percentage points.

The authority also noted broad-based economic growth, with most sectors reporting positive annual growth.

Wholesale and retail trade, along with restaurants and hotels, posted the highest annual growth among all sectors, rising by 8.4 per cent year-on-year and 0.7 per cent quarter-on-quarter.

‘WHOOP 5.0 Is our biggest leap yet’, says founder and CEO Will Ahmed

Ahmed outlines how the WHOOP 5.0 and WHOOP MG are redefining performance, longevity and recovery for its global user base

Neesha Salian
Neesha Salian

09 June, 2025

‘WHOOP 5.0 Is our biggest leap yet’, says founder and CEO Will Ahmed
Images: Supplied

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With the launch of WHOOP 5.0 and the medical-grade WHOOP MG, founder and CEO Will Ahmed is ushering in a new era for wearable technology — one that goes far beyond fitness tracking.

In this interview with Gulf Business, the health tech pioneer shares how the latest innovations position the brand as a central operating system for human health.

From AI-powered insights that drive meaningful behaviour change to the platform’s growing popularity in the Middle East, Ahmed outlines how WHOOP is redefining performance, longevity, and recovery for its global user base.

What makes the WHOOP 5.0 launch a true leap forward for the brand — rather than just the next iteration?

This launch marks the beginning of a new chapter for us. With the launch of WHOOP 5.0 and WHOOP MG, along with our new health software features, WHOOP is becoming the central operating system for human health.

WHOOP 5.0 and WHOOP MG introduce medical-grade capabilities and insights never before offered in a single wearable.

The new sensors deliver 14 days of battery life — three times what our last device offered — while being 7 per cent smaller. WHOOP MG builds on that with Heart Screener with ECG, Irregular Heart Rhythm Notifications, and Blood Pressure Insights.

We’ve also introduced new software features including Healthspan with WHOOP Age, updated Sleep Performance, Hormonal Insights, and an improved Steps experience — all designed to help members perform better and live longer.

This isn’t just a product update. It’s the biggest leap forward in WHOOP technology to date, not just to our hardware, but to the entire WHOOP experience.

As wearables grow in popularity, how is WHOOP helping users turn data into meaningful behavior change and long-term habits?

WHOOP is transforming how people turn data into meaningful behavior change and lasting habits by shifting the focus from passive data collection to personalised, actionable insights that drive outcomes. WHOOP does this through a deeply integrated system of features designed to coach rather than just track.

For instance, our new Healthspan with WHOOP Age reveals how your behaviours — from sleep to strength training — are directly influencing your physiological age. This isn’t just data — it becomes a call to action to our members.

How would you describe the significance of the Middle East market for WHOOP — and what sets this region apart in terms of demand and adoption?

The GCC is a rapidly growing market for WHOOP. It was actually our fastest growing market last year. I’ve been coming to the region for almost a decade and have had a chance to see it firsthand.

This is a region that deeply values performance, health, and innovation. What’s unique here is the demand for premium, personalised solutions — and WHOOP is uniquely equipped to meet that.

Looking ahead, as wearables evolve beyond fitness to support long-term wellbeing and healthspan, where is WHOOP heading next?

In the coming months and year, we will be focused on additional new features that help support our goal of becoming a central operating system for our members’ health.

One of those initiatives is WHOOP Advanced Labs — our soon-to-be-released feature that integrates blood testing right into your WHOOP experience to provide an enhanced layer of coaching.

Any recovery tips you can share with users based on your experience?

There are many tools and strategies I use to optimise my recovery, including wearing blue light glasses before bed and cold plunging after working out.

I also find meditation personally has been one of the biggest unlocks for me. I do it every morning for 20 minutes and it’s become nonnegotiable for me.

When I was 24 years old I was really stressed about building WHOOP. I was run down, strung out, and I hadn’t really learned how to cope with stress.

I found meditation as a tool to really find balance and reflection. It allowed me to develop this ability to look at my thoughts in the third person. It made me feel much more in control and aware.

5G-Advanced: e& UAE sets new world record for connectivity

By leveraging FR1 band aggregation and cutting-edge uplink technology, e& UAE has established a new global benchmark for 5G excellence

Gulf Business
Gulf Business

09 June, 2025

5G-Advanced: e& UAE sets new world record for connectivity
Image credit: WAM/Website

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e& UAE, the flagship telecom arm of e&, has set a new world record for connectivity by achieving an uplink (UL) speed of 600Mbps on a live 5G network—a major milestone in the evolution of 5G-Advanced.

Read-UAE’s e& reports Dhs10.8bn in net profit in 2024

This achievement was enabled by aggregating FR1 bands at 2100MHz and C-band, paired with uplink 3Tx (three transmit antennas) on commercial Customer Premises Equipment (CPE) at a live 5G site. The deployment is fully compliant with 3GPP Release 17 standards, according to a WAM report.

This record-breaking uplink speed represents a cornerstone of 5G-Advanced, empowering uplink-heavy applications with unmatched performance. By leveraging FR1 band aggregation and cutting-edge uplink technology, e& UAE has established a new global benchmark for 5G excellence.

Abdulrahman Al Humaidan, Vice President of Fixed Access Network at e& UAE, stated: “e& UAE’s world-record 600Mbps uplink speed is a strategic step forward, catalysing a new era of hyper-fast, uplink-driven digital innovation. This is not just a technological milestone—it’s a launchpad for reshaping the digital world and solidifying the UAE’s role as a global tech leader.”

A new era for enterprise and smart infrastructure

The 600Mbps uplink enables a new wave of connectivity, enhancing uplink-intensive applications across both business and consumer landscapes. Enterprises can now enable real-time sensor data uploads in smart factories and logistics hubs, advancing AI-driven automation and predictive analytics.

Cloud-hosted collaboration will also benefit, supporting instant uploads for 3D modelling, augmented reality (AR), and virtual reality (VR) workflows, driving the next wave of digital creativity.

Uplink-focused solutions like live video analytics, smart city monitoring, and drone surveillance will thrive, thanks to instant data uploads for mission-critical decisions.

Empowering everyday users in the 5G-advanced world

For consumers, this leap forward will transform digital lifestyles—allowing content creators to upload 8K videos and stream immersive content to platforms like YouTube and TikTok in seconds.

Gamers will enjoy lag-free cloud gaming, while smart homes will instantly upload high-definition footage and IoT data, boosting efficiency and responsiveness.

Applications such as virtual event hosting and user-generated AR content will flourish, offering faster, richer, and more immersive digital experiences.

Based on 3GPP Release 17, this deployment takes advantage of enhanced mobile broadband (eMBB) and ultra-reliable low-latency communications (URLLC), laying the groundwork for scalable, energy-efficient 5G networks.

With this successful deployment on a commercial CPE and a live 5G site, e& UAE has demonstrated its ability to turn vision into reality. By optimizing FR1 2100MHz and C-band with Uplink 3Tx, the company is paving the way toward a hyper-connected future.

Once such CPEs become widely available, e& will be well-positioned to empower both consumers and enterprises with next-generation connectivity.

Dubai Metro Blue Line: Foundation laid for first station

The Dubai Metro Blue Line will significantly enhance mobility across the city by connecting key residential and commercial areas

Nida Sohail
Nida Sohail

09 June, 2025

Dubai Metro Blue Line: Foundation laid for first station
Image credit: HH Sheikh Mohammed/X account

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Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has laid the foundation stone for the first station on the Dubai Metro’s Blue Line.

Read-RTA planning new Dubai Metro Gold Line

The announcement was made on the Dubai Ruler’s official X account.

The Blue Line is projected to generate total benefits of Dhs56bn.

View post on X

The station will become a new landmark in Dubai and will be the first on the Blue Line.

The line will extend 30 kilometers, bringing the total length of Dubai’s rail network to 131 kilometers with 78 stations.

The Dubai Metro Blue Line will significantly enhance mobility across the city by connecting key residential and commercial areas, including Dubai Creek Harbour, Festival City, Mirdif, and Dubai Silicon Oasis.

The line will feature a combination of underground and elevated tracks, with a total of 14 stations along its 30-kilometer route. It will include three major interchange stations: Al Khor (Green Line), Centrepoint (Red Line), and International City (1).

One of the standout features of the project is a signature station at Dubai Creek Harbour, designed by Skidmore, Owings & Merrill (SOM), which will showcase a unique architectural style.

This station is expected to become a key focal point and will be designed to handle 160,000 passengers daily by 2040.

The Blue Line will also include the Dubai Metro’s first-ever crossing over Dubai Creek via a 1,300-metre bridge, adding a striking visual and functional element to the project.

Benefits of the Blue Line

The Blue Line is expected to reduce road congestion in key areas by 20 per cent, boost property values near stations by up to 25 per cent, and directly connect major hubs like Dubai International Airport (DXB) to residential areas. Al Tayer noted that the new line will offer more efficient travel times—ranging from 10 to 25 minutes — across various neighborhoods.

It will also be integrated into Dubai’s broader urban planning strategy, including the ‘20-Minute City’ initiative, which aims to ensure over 80 per cent of services are accessible within a 20-minute commute.

The Blue Line is designed to serve areas expected to house nearly one million residents by 2040, including key developments like Dubai Creek Harbour, Festival City, and International City.

Etihad, Ethiopian Airlines activate codeshare in first phase of joint venture

Etihad customers will gain access to Ethiopian’s African network, including destinations such as Kigali, Harare, Lusaka and Victoria Falls

Gareth van Zyl
Gareth van Zyl

09 June, 2025

Etihad, Ethiopian Airlines activate codeshare in first phase of joint venture
Image: Supplied

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Etihad Airways and Ethiopian Airlines on Monday announced a new codeshare partnership, as part of a broader plan to implement a joint venture that was announced in March 2025.

From 15 July, Ethiopian Airlines will begin flights between Addis Ababa Bole International Airport and Abu Dhabi’s Zayed International Airport. Etihad will follow with daily services to Addis Ababa from 8 October.

The codeshare allows passengers to book a single itinerary with one check-in and baggage transfer, while providing access to more than 75 destinations across both networks.

Etihad customers will gain access to Ethiopian’s African network, including destinations such as Kigali, Harare, Lusaka and Victoria Falls. Ethiopian passengers, in turn, can connect via Abu Dhabi to key Etihad destinations such as Colombo, Krabi, Sydney and Phnom Penh.

Read more: Etihad, Ethiopian Airlines to launch Abu Dhabi-Addis Ababa flights

“This partnership allows us to unlock seamless travel opportunities between Africa and Asia, Australia and the Middle East,” said Arik De, chief revenue and commercial officer at Etihad.

Joint venture in motion

The codeshare marks the first phase of a deeper joint venture between the two carriers.

In an interview with Gulf Business earlier this year, Etihad CEO Antonoaldo Neves said the partnership will evolve beyond codeshare into full joint operations.

“In a joint venture, revenue is shared equally, and there are no restrictions on how many seats each airline can sell on the other’s flights,” he explained.

“We’re fast-tracking the partnership so customers benefit sooner.”

Read more: Etihad CEO on growth, IPO talk and Ethiopian Airlines tie-up

Neves added that the agreement forms part of Etihad’s wider strategy to expand global ties.

“It enables us to offer customers more travel options to Africa, while Ethiopian customers gain access to Etihad’s extensive network.”

Ethiopian Airlines is Africa’s largest carrier by passengers, fleet size and destinations.

Seated left to right, Mesfin Tasew, Ethiopian Airlines’ Group CEO and Antonoaldo Neves, Chief Executive Officer of Etihad Airways. Standing, Lt Gen Yilma Merdassa, Chairman of Ethiopian Airlines and His Excellency Mohamed Ali Al Shorafa, Chairman of Etihad Aviation Group.
Seated left to right, Mesfin Tasew, Ethiopian Airlines’ Group CEO and Antonoaldo Neves, Chief Executive Officer of Etihad Airways. Standing, Lt Gen Yilma Merdassa, Chairman of Ethiopian Airlines and His Excellency Mohamed Ali Al Shorafa, Chairman of Etihad Aviation Group.

Group CEO Mesfin Tasew called the collaboration “a milestone in enhancing connectivity between Africa, the Middle East and Asia.”

He noted that Abu Dhabi will become the airline’s third UAE destination after Dubai and Sharjah.

The agreement follows a strong year for Etihad. In 2024, the airline posted a Dhs1.7bn ($476m) profit after tax on Dhs25.3bn ($6.9bn) in total revenue, with passenger numbers rising 32 per cent to 18.5 million.

Etihad added over 1,700 weekly flights and launched 20 new destinations during the year, including Boston, Jaipur, Bali and Nairobi. Its fleet also grew by 12 aircraft.

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