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Fatima Al-Nouri

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  • 3 min read
  • OPEC+ agreed to raise August output targets by 188,000 barrels per day, matching the June and July hikes.
  • Falling prices and the reopening of the Strait of Hormuz shaped the decision, with Brent crude near 72 dollars.
  • Saudi Arabia and Russia lead seven core members unwinding a 1.65 million barrel cut first set in 2023.
  • The UAE has exited the alliance, and Iraq now presses for a higher quota, testing group unity.

OPEC+ oil output increase decisions advanced on Sunday as the group lifted August production targets again. Seven core producers agreed to add 188,000 barrels each day to global markets from August. This latest move matches similar increases the group approved earlier for both June and July. Falling oil prices today shaped the decision as the Strait of Hormuz slowly reopened. Tanker traffic through the busy waterway picked up, easing many months of tight supply. Brent crude oil prices traded near 72 dollars on Friday, down from summer peaks.

Those peaks reached above 120 dollars during the war between the United States and Iran. Prices now sit close to levels seen before the February conflict began this year. Lower Chinese imports and stronger non-Gulf exports also pushed the wider market back down. A record strategic stock release from the International Energy Agency added even more barrels. OPEC+ production quotas have climbed by nearly 800,000 barrels per day since early April. Much of this planned rise stayed on paper while the shipping route stayed closed. Saudi Arabia’s oil production, along with Kuwaiti and Iraqi supply, lost vital export access. Output across the whole group fell sharply during the height of the regional fighting. Group supply dropped to 33.13 million barrels per day in May, official data shows.

Prices Cool As Tankers Return To The Strait

Recovery began in June after Washington helped the UAE and others ship more oil. Flows still sit below pre-war levels, though the daily trend keeps moving steadily higher. Traders now watch how many tankers cross the Strait of Hormuz oil export route. “The group of seven kept unwinding their production cuts as widely expected,” said UBS analyst Giovanni Staunovo. His firm expects the near-term focus to stay on demand and Chinese import recovery. A memorandum between Washington and Tehran also calmed market fears about future supply flows.

Iraq now presses the whole group for a higher quota within these monthly talks. The United Arab Emirates left the alliance in late April to free its capacity. Emirates leaders wanted their output to match capacity without limits set by the group. OPEC+ oil output increase plans now run through a much messier political picture today. Seven producers- Saudi Arabia, Russia, Iraq, Kuwait, Algeria, Kazakhstan, and Oman- still lead policy. These seven nations roll back a 1.65 million barrel cut first agreed in 2023. Reuters math shows about 379,000 barrels of the original cut still remain fully unwound. One more August-sized hike in September would then clear the remaining 2023 supply cut. Group members meet again on August 2 to weigh their next big production move.

OPEC+ Oil Output Increase Faces A Bigger Market Test

Market watchers now link this OPEC+ oil output increase to confidence in the wider economy. From my standpoint, this steady drip of new supply keeps most traders cautious for now. Oil prices today still swing on every fresh headline about the fragile peace process. Brent crude oil prices give you a fast read on how markets judge risk. Watch the tanker counts, the quota talks, and the pace of Saudi Arabia’s oil production. This OPEC+ oil output increase signals confidence, yet real barrels decide the final story.

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  • Economy, Global Markets, Iran, Oil, OPEC, Strait of Hormuz

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Dubai Named World's Most Instagrammed City
  • Tourism

Dubai is the most photographed city in the world, according to a new ranking of how often destinations appear on social media and in search results.

The study comes from Players Time, which built a scoring system it calls an Instagrammability Score. It combines hashtag counts on Instagram and TikTok with monthly Google search volume, then scales the result from 0 to 100.

Dubai scored a perfect 100. The city has been tagged 147 million times on Instagram and more than 43 million times on TikTok. It draws 3.43 million Google searches a month.

The Burj Khalifa took first place in the separate landmarks ranking. The tower has 10.1 million tagged posts and 1.1 million monthly searches. That puts it well ahead of the Grand Canyon at 696,000 searches and the Eiffel Tower at 662,000.

That result is worth sitting with. The Burj Khalifa opened in 2010. It is now photographed and searched more than monuments that have been standing for centuries. The Eiffel Tower came second with a score of 73.22. The Taj Mahal and Machu Picchu both landed in the top group, with search volumes between roughly 854,000 and 928,000 a month.

Europe holds 8 of the top 20 landmark places. The Sagrada Familia and the Colosseum sit in that group, with monthly searches running from about 313,000 to 737,000.

Some places are ranked for the experience, not the building

A few entries in the landmarks list are not really buildings at all.

Shibuya Scramble Crossing in Tokyo generated more than 6.57 million posts. Up to 3,000 people cross at once, and most of the photos are taken from inside the crowd rather than from a viewing point. Times Square in New York works the same way, with 5.82 million posts.

The oddest entry is the DUMBO viewpoint near the Brooklyn Bridge, which has passed 4 million Instagram posts on its own. Search demand for it is modest. People are not planning trips there. They walk past, take the photo, and the number keeps climbing.

London posts more, Barcelona searches more

Among cities, London and Paris follow Dubai. London recorded the highest raw hashtag volume in the study at 192.2 million posts. New York City reached 165.6 million and Istanbul 153.7 million.

Barcelona is the outlier. The city recorded 97 million tagged posts and 23 million monthly Google searches, which is close to seven times Dubai’s search volume.

That figure deserves a caveat the study does not offer. “Barcelona” is also the name of one of the most followed football clubs on the planet. A raw keyword count cannot tell a fan looking for match results apart from a traveller looking for a hotel. The same problem may explain why San Diego, Santiago and Kochi appear in a ranking of visual destinations despite far lower travel profiles.

Players Time has not published the weighting behind its score, so the gap between hashtag volume and search demand is difficult to check independently. Hashtag counts are also self-reported by the platforms and change constantly.

The Dubai finding survives those questions better than most. The city leads on both measures at once, and it does so against capitals that have had a hundred years’ head start on accumulating images. The Burj Khalifa did the same thing at landmark level in sixteen years.

  • 3 min read
Kuwait $6 billion bond sale
  • Kuwait

The Kuwait $6 billion bond sale closed this week with an order book the finance ministry calls one of the largest for a multi-tranche sovereign deal in 2026. Three tranches went out. Investors took $3 billion in three-year paper, $1.5 billion in five-year notes and $1.5 billion at 10 years. Final spreads landed at 70, 75 and 85 basis points over US Treasuries. It was the country’s first international issuance since October last year.

Pricing tells you more here than the headline number does. Kuwait tightened 25 basis points across all three tranches from its opening levels, according to a person familiar with the deal cited by Bloomberg. Buyers do not give up that much yield to a borrower they distrust.

Demand for the Kuwait $6 billion bond sale came in two versions. The finance ministry put total orders above $18 billion, more than three times the issue size. Bloomberg reported books near $14.8 billion at final terms. Peak interest and final interest are different numbers, and both can be accurate.

Who bought the Kuwait $6 billion bond sale?

American accounts took 48 percent of the allocation. The UK and Europe followed with 28 percent, then the Middle East and North Africa at 16 percent. Asia took 4 percent, and other international markets took the rest. Finance minister Yaqoub Al-Refaei said the result shows investor confidence in Kuwait’s credit position and financial standing.

The short end did the heavy lifting. Half the total sat in the three-year tranche, which points to buyers who want yield without long duration risk. Five- and 10-year paper gives other Kuwaiti borrowers a benchmark to price against.

Geography matters more than usual on this one. JPMorgan reclassified Kuwait as a developed market in February 2025 and removed it from its emerging market bond index. That move stripped out index-driven demand the country once attracted by default. Pulling almost half the book from the Americas without that support is a real result for a Kuwait sovereign bond issuance.

War risk barely moved the price

Iranian attacks have hit US military assets in Kuwait and Bahrain in recent weeks. Fixed income desks priced the three-tranche bond sale anyway. Gulf sovereign bonds already went through this test once, falling to lows in mid-March before climbing back through late April. Traders have a reference point now, and they used it.

Why Kuwait keeps borrowing

The arithmetic is plain. Kuwait’s 2026-27 budget forecasts revenue of KD16.3 billion against spending of KD26.1 billion. That leaves a Kuwait budget deficit of KD9.8 billion, up from KD6.3 billion the year before. Oil was expected to supply close to 80 percent of budgeted revenue, so disruption around Hormuz cuts straight into the top line.

Access came back through legislation. The Kuwait public debt law, approved in March 2025, set the borrowing ceiling at KD30 billion, roughly $97.4 billion, and allowed maturities out to 50 years. Political gridlock had kept the country out of the sovereign market for eight years before that. Since the law passed, Kuwait raised $11.25 billion in October 2025 and another $2 billion in May.

Kuwait is building a yield curve, and curves need repeat business. Each deal hands domestic banks and corporate borrowers a pricing reference they did not have. I read the Kuwait $6 billion bond sale as a curve-building exercise first and a cash-raising one second. The deficit is real. So is the sovereign wealth sitting behind it. What global investors bought this week was the legal framework and the balance sheet, not the news cycle.

  • 3 min read
DXB launched new Smart Gates service
  • Dubai Airports

Dubai Airports launched a new Smart Gates service on Friday, letting travellers run a Smart Gates eligibility check before they reach passport control. Dubai Airports developed the tool with the General Directorate of Identity and Foreigners Affairs in Dubai. The operator calls it the Smart Gates Eligibility Pre-Check. Passengers reach it through the Pocket Flights app or by scanning QR codes placed across every terminal and gate.

A traveller scans a passport and gets an answer in seconds. Those who clear it can head straight for the automated lanes. Anyone who does not can plan for a staffed counter instead. Dubai Airports said the point of the change is “making the journey through the airport more seamless for our guests.”

GDRFA runs the gates themselves. Dubai International Airport biometric gates read facial and passport data at the barrier, so there is no stamp and no officer check. Eligible groups include UAE and GCC citizens, UAE residents, and visa-on-arrival guests with biometric passports. Many travellers are enrolled the first time they pass through immigration at DXB, which means some queue at the counters without knowing they already qualify. Anyone wanting a second confirmation can use the GDRFA Dubai smart gate registration inquiry on the directorate website, entering an Emirates ID, a file number, or a passport number with nationality.

Why Dubai Airports launched new Smart Gates services

Record volume explains why DXB launched new Smart Gates service now. Dubai International handled 95.2 million passengers in 2025, up 3.1 percent year on year, the highest annual international traffic recorded at any airport. The operator forecasts 99.5 million for 2026. By the end of last year, the airport connected to 291 destinations across 110 countries, served by 108 international airlines.

DXB passport control has held up so far. In 2025, 99.35 percent of departing passengers cleared it in under ten minutes, and 98.8 percent of arriving passengers were processed within 15 minutes. Paul Griffiths, chief executive of Dubai Airports, said in February that record traffic had become part of the airport’s operating reality rather than an exception.

What the pre-check is meant to solve

Passport control is one of the parts of an airport that cannot be widened quickly. Halls are fixed, gate counts are fixed, and staffing has limits. So the operator is working on how passengers sort themselves before they arrive at the hall. A traveller who knows the answer in advance picks the right lane the first time. Across close to 100 million journeys a year, small gains of that kind carry weight.

Capacity beyond DXB

The larger answer sits at Al Maktoum International, where Dubai is building a terminal project valued at about 35 billion dollars. First-phase capacity is expected by 2032, at 150 million passengers a year. Full build-out would take the site to 260 million. Until that capacity arrives, DXB has to find room inside the space it already uses.

DXB launched a new Smart Gates service as part of that pattern. The operator has spent recent years moving checks earlier in the journey and cutting the number of decisions a passenger makes inside the terminal. DXB launched the new Smart Gates service without changing the gates, the enrolment rules, or the biometric system behind them. It changed what the traveller knows before walking up to them.

Adnan Al-Jaziri covers the Gulf economy for ICN.live, with nearly a decade of reporting on finance and economic transformation across the region.

  • 3 min read
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