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THIS MORNING: OpenAI brings local inference to UAE + Adnoc is shuttling Iraqi crude across the Strait of Hormuz
Tourism and travel’s contribution to the Gulf’s GDP could drop by 14.5% to USD 330 bn this year
Adnoc Gas’ profit halved on Hormuz disruptions — so it’s planning an LNG export route that skips the strait entirely
The company is looking for a new LNG export facility on the UAE’s east coast as an alternative export route
Adnoc adds 11 vessels + Orbitworks preps for satellite work
The acquisitions nearly double Adnoc’s fleet of both vessel types
THIS MORNING: A deeper Emirati presence in Egypt’s north coast + Khor Mor partners clash with Kurdistan gov’t
Plus: More tax relief is coming for SMEs
Earnings are in from Empower, Rak Ceramics, Etihad Energy, Sobha, Aramex, Space42, and Abu Dhabi Aviation
The effects of the regional war are continuing to show through on income statements
THIS MORNING: UAE eyes Japan’s largest data center + UK regulators wave through Paramount’s WBD takeover after assurances
Plus: The UAE is turning Hormuz risk into a market edge
THIS MORNING: Fujairah has become the UAE’s primary export route + the NBA gives the UAE a pass (for now)
UAE jewelry demand was down 28% in 2Q
THIS MORNING: Adnoc is scrapping its old pricing system + L’imad is wrapping up its Taqa takeover
Fuel prices are ticking up once again after a dip in July
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