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Abu Dhabi Fund for Development strategic investments reach AED562 million

Abu Dhabi Fund for Development’s strategic investments reached AED562 million across six high-impact projects in 2025. These investments support healthcare, education, food

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Emirati Goldsmiths Platform
  • jewellery industry

Emirati Goldsmiths Platform launched the first locally sourced national gemstone at a major Sharjah jewellery exhibition. The stone debuted during the 57th Watch and Jewellery Middle East Show in Sharjah. Expo Centre Sharjah hosted the event with support from the Sharjah Chamber of Commerce and Industry. Designers named the new stone the Spirit of the Emirates gemstone for its national meaning. You can trace its source to red jasper from the Al Siji region of Fujairah. The Fujairah Natural Resources Corporation worked with local designers to supply this raw material. Officials see the first Emirati gemstone as a milestone for the national jewellery industry.

This launch gives Emirati designers a unique stone they can fully call their own. Twenty designers from across the UAE joined the platform at this year’s main show. Seven of them were women showing their work at the event for the first time. You can see how the platform now opens real doors for local female talent.

A local stone with global ambition

The Spirit of the Emirates gemstone carries deep meaning tied to the UAE land and heritage. Designer Fatima Al Muhairi created two signature pieces to mark the new stone’s debut. She now ranks as the first internationally accredited young Emirati specialist in gemology today. Her first design traces the gemstone journey from mountain rock to finished luxury jewellery. The piece shows a palm tree, a mountain, and details inspired by Al Muwaiji Fort. A single natural pearl links the old pearl-diving era with this new gemstone era.

Emirati Goldsmiths Platform builds a full supply chain

Her second piece, named Erth, takes the shape of a small camel’s head brooch. This brooch joins a Ras Al Khaimah pearl with jasper from the Fujairah mountains. Together, the two pieces blend old natural treasures with the country’s new local resources. The Emirati Goldsmiths Platform now reaches beyond design work into gemstone sourcing and supply. One member became the first Emirati gemstone supplier for local jewellery designers this year. Abdallah Sultan Al Owais, the SCCI chairman, praised the platform and its local designers. “This launch shows our designers can lead the full jewellery chain,” Al Owais said.

What the new gemstone means for you

You should note why this matters for the wider UAE luxury jewellery market today. A local gemstone keeps more value inside the country and within its supply chain. Buyers also gain access to authentic stones with a clear and proud national story. The jasper rates 6.5 to 7 on the Mohs scale for strong everyday hardness. Its deep red color and waxy shine suit fine jewellery and high market demand. The red jasper from Fujairah gives this stone a warm and bold red tone. As I see it, this gemstone gives the UAE jewellery sector a stronger local identity. Mona Al Suwaidi leads the platform and views it as a full innovation ecosystem.

She points to designers from the people of determination community and their strong creativity. The Emirati Goldsmiths Platform has grown from a talent incubator into a market builder. You will likely see more local stones reach regional and global jewellery markets soon. Strong early demand for the first Emirati gemstone shows real promise for local makers. The Emirati Goldsmiths Platform plans to support designers, suppliers, and buyers across the chain. You can expect this national stone to shape UAE luxury jewellery for years ahead.

  • 3 min read
QatarEnergy shared new oil discovery
  • MENA

QatarEnergy shared new oil discovery results from the Merlin-1X well offshore Namibia this week. The well sits inside Petroleum Exploration License 39, a block in the Orange Basin. Engineers found good reservoir quality, light oil, and limited associated gas at the site. These early signs point to the strongest subsurface results recorded under this license yet. For energy markets, this result reshapes how you read Namibia’s oil exploration prospects today.

What is the Merlin-1X well found in Namibia

Merlin-1X became the tenth well drilled under this license since the program began here. The well started drilling in April 2026 and reached the deeper Coniacian rock play. Light oil with limited gas signals a cleaner, more valuable target for future development. Shell operates the block and shares ownership with QatarEnergy and the state firm NAMCOR. QatarEnergy holds a 45 percent stake, while Shell holds 45 percent and NAMCOR takes 10. Eugene Okpere, a senior Shell executive, welcomed the results, adding fresh insight into the basin. He said the team follows a disciplined, data-led approach to test real commercial value. Okpere even called the outcome “encouraging” for the broader Orange Basin Namibia exploration effort.

QatarEnergy shared a new oil discovery as Orange Basin hopes grow

When QatarEnergy shared new oil discovery details, attention turned to the basin’s rising potential. This new find follows Graff-1, Venus-1X, and Jonker-1X, three earlier wins in the region. Analysts now compare the Orange Basin to the early oil success seen in Guyana waters. Reported resources across the basin now run into billions of barrels, analysts estimate today. Deep water defines this offshore Namibia oil zone, with depths reaching nearly 3,000 meters. Such depth raises drilling costs, yet strong reservoir quality can offset some of those risks. Supermajors keep moving into the region as fresh results lift overall confidence each year. As I see it, this run of finds turns Namibia into a serious oil contender.

What this result means for you

QatarEnergy shared new oil discovery news while building a wide position across Namibia’s offshore acreage. The company holds stakes in PEL 0039, PEL 0056, PEL 0091, and PEL 0090. Those four licenses together cover close to 34,000 square kilometers of seabed off Namibia. PEL 0039 carries its largest stake and has produced the strongest results so far. Shell plans more drilling in PEL 0039 later in 2026 under a broader appraisal campaign. For you as a reader, these steps signal real momentum behind Namibia’s oil exploration. Commercial output still depends on appraisal wells, drilling costs, and final investment decisions ahead. QatarEnergy has not yet released a public resource estimate for the Merlin-1X exploration well. Investors will watch the next wells before judging the full scale of this find.

The QatarEnergy oil discovery at Merlin-1X strengthens the case for more deep offshore work. Namibia stands to gain jobs, revenue, and a stronger role in global energy supply. Your view of African oil supply should now include this fast-growing Orange Basin story. When QatarEnergy shared new oil discovery results, it added weight to a growing trend. The coming months will test whether these barrels reach real and profitable production levels. For now, the well counts as a clear win for QatarEnergy and Shell together. Watching the next drilling phase will tell you how large this prize truly becomes.

  • 3 min read
Oil prices climb more than 3%
  • Global Markets

Oil prices climb more than 3% on Thursday, lifting traders after a steep recent decline. Brent crude futures rose $3.51, or 3.72 percent, to reach $97.80 a barrel today. The more active August contract gained $3.35, climbing 3.63 percent to settle near $95.60. You should note that the July Brent contract is set to expire on Friday this week. The WTI crude oil price advanced $3.31, or 3.73 percent, to hit $91.99 a barrel. Both benchmarks slipped more than 5 percent during the previous session before this strong turnaround. They touched their lowest levels in a month, alarming investors who track energy markets daily. For you, this rebound signals fresh volatility returning across global oil and commodity trading floors.

Oil prices climb more than 3%, partly because supply worries pushed buyers back into the market. Traders reacted to shifting expectations around demand, inventories, and broader economic growth signals worldwide. Sharp single-day moves like this one often reflect thin liquidity near contract expiry dates. You can see how quickly sentiment shifts when prices swing several dollars within hours. My analysis indicates the current move reflects positioning more than any lasting change in fundamentals. Energy markets remain sensitive to political headlines, refinery outages, and sudden changes in trader mood.

Why have oil prices climbed more than 3% so fast?

The crude oil rally arrived after days of falling values across both leading benchmarks. Buyers often return once prices look cheap, especially after a sustained drop in value. Short sellers also close positions quickly, which adds upward force to a recovering market. You see this pattern repeat whenever oil markets reverse direction after a steep sell-off. Analysts watch the spread between Brent crude futures and American contracts for trading clues. The August contract now carries more weight because the July contract expires within days. Investors tracking oil prices today should expect sharper swings before markets find balance.

Oil prices climb more than 3% during sessions when traders sense renewed risk to supply. Geopolitical tension, OPEC decisions, and storage data all shape these fast daily price movements. You benefit from watching these drivers because they explain sudden gains and losses clearly. Each barrel price gain reflects how buyers value future supply against expected global demand. Refiners, airlines, and shippers feel every move because fuel costs hit their budgets directly. Drivers at the pump also notice changes once these price moves reach retail fuel stations.

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What the rebound means for your wallet

Higher crude values often raise gasoline and diesel prices within a few short weeks. You should budget for possible fuel cost changes during periods of strong market volatility. Airlines and freight firms hedge fuel to protect margins when prices move this fast. Investors holding energy stocks watch the crude oil rally for signals about company earnings. Producers welcome higher prices because stronger revenue supports new drilling plans and future projects. You can follow daily reports to understand how each session shapes the wider trend.

Oil prices climb more than 3% when momentum builds, yet single days rarely set lasting direction. You gain the most by tracking trends over weeks rather than reacting to one move. Markets will keep testing new levels as supply news and demand data continue arriving. For now, the strong rebound shows how fast energy markets recover from a sharp drop.

  • 3 min read
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