Brent oil edges above $75 as investors assess tightening market

Brent oil has rallied more than 40 per cent this year as a strong rebound from the pandemic in the US, China and Europe underpins increasing fuel consumption

Saudi destroys 17 armed drones launched by Houthis

The Houthis have been frequently targeting the kingdom with explosive-laden drones in recent weeks

Global power grids pushed to breaking point

The extreme weather highlights the real world impact of climate change

PALESTINIAN-ISRAEL-GAZA-CONFLICT

Israel conducts air strikes in Gaza as new violence flares

The conflict in May killed more than 250 Palestinians and 13 people in Israel

Oil rallies to 32-month high as rising demand emboldens bulls

The US benchmark is on course for a fifth quarterly advance, which would be the best run since 2010

Netanyahu’s reign over as Israel ushers in fragile government

The new coalition will govern with the slimmest majorities – commanding 61 of parliament’s 120 seats

Armed drone from Yemen lands on school in Saudi’s Asir

No injuries were reported in the incident

Facebook says it will expand remote work to all employees

Facebook also is expanding the number of workers who are allowed to move to other countries

UAE to extend ban on passengers from India until July 6 – airline

The carrier advised affected passengers to reschedule their tickets

Making strides to diversify and enrich the region’s cloud services market

Events of the last year have focused the spotlight on the benefits of cloud-based solutions

Climate change responsible for 37% of heat-related deaths – study

The paper shows that the level of warming varies across the globe

UAE-Japan

UAE, Japan to launch business council

Japan is ranked tenth globally among the list of countries investing in the UAE

Abu Dhabi’s ADQ is said to eye stake in top Egyptian dairy firm

Deliberations are in the early stages and there’s no certainty ADQ will proceed with any transaction

Oil steady near highest since 2018 with Saudis upbeat on demand

Oil is up 40 per cent this year as the recovery from the pandemic in the US, China and parts of Europe boosts the outlook for fuel consumption

Oil declines with return of Iranian supply hanging over market

OPEC+ ministers are due to meet June 1 to consider the state of the market and the group’s production policy

Iran bans Bitcoin mining, echoing China, after blackouts

The ban is effective immediately and will last until September 22

Dubai investment firm FIM Partners considers raising SPAC

EFG Hermes agreed to buy a stake in FIM Partners in 2017

EFG Amazon.eg

Egypt’s sovereign fund, EFG Hermes partner to acquire control of Arab Investment Bank

The transaction will be structured as a capital increase that will raise the paid-in capital of the bank to EGP5bn

Oil steady near $65 as investors weigh near-term demand outlook

Oil has managed to break out from a tight range near $60 a barrel and resume its upward momentum

Egypt’s ‘lost city’ may be new boon for tourism

The discovery of a 3,000-year-old city may just be the impetus required for Egypt’s tourism

In pictures: Eid Al Fitr celebrations across the world

Eid Al Fitr, which marks the end of the holy month of Ramadan, was celebrated across the world in a subdued manner due to the Covid-19 pandemic

Israel-Gaza conflict intensifies as global diplomatic efforts continue

The US dispatched an envoy to the region and Egypt and Qatar sought to help broker a truce

UAE to host emergency meeting with Arab leaders over Jerusalem

The latest bout of fighting appeared to be the most serious escalation since a 2014 war in Gaza

Google startup accelerator

Google opens registrations to MENA tech startups for accelerator programme

The three-month long programme will commence in mid-July 2021 and is for ‘Seed to Series’ startups in the region

Covid-19: UAE extends ban on travellers from India

Cargo flights will continue to operate between the two countries

Seychelles pays $1 to acquire Etihad’s stake in its flag carrier

Etihad accepted a 79 per cent haircut on $72.3m of debt owed by Air Seychelles Ltd

How the loss of biodiversity requires relevance and attention

Biodiversity and climate change are deeply connected by the simple fact that our economy relies on natural capital

Oil swings near $63 as OPEC+ bets market can absorb more supply

The global oil market recovery is being driven by China and the US, with positive signs emerging from parts of Europe

Publicis Groupe appoints Bassel Kakish as CEO for Middle East and Turkey

Kakish will continue to be based in Dubai and report to the executive chairman

Mubadala eyes $1bn gas deal as UAE-Israel ties deepen

The Abu Dhabi fund would make the acquisition through its energy arm