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Tahawultech is proud to announce that Padam Sundar Kafle from Aster Hospitals will be a panellist at our upcoming CIO Leadership Awards 2025 for a session on 'Validating GEN AI'.
Learn more below.
https://www.tahawultech.com/cio/2025/
#CIOLeadershipAwards2025 #tahawultech #AsterHospitals
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Arabian Business
an hour ago
- Arabian Business
UAE midday work ban to begin June 15, Minister inspects Dubai site
UAE businesses will introduce the summer outdoor work ban from Sunday, June 15. Dr. Abdulrahman Al Awar, UAE Minister of Human Resources and Emiratisation and Acting Minister of Higher Education and Scientific Research, visited a Dubai construction site ahead of the implementation of the annual Midday Break. Now in its 21st consecutive year, the Midday Break prohibits outdoor work under direct sunlight between 12.30pm and 3pm daily until September 15, as part of the UAE's commitment to worker welfare and occupational safety. UAE outdoor work ban During the site inspection, Dr. Al Awar, accompanied by senior officials, reviewed Khansaheb Civil Engineering's initiatives to comply with the summer safety mandate. Chairman Tariq Khansaheb detailed the company's measures, including shaded rest zones, cooling devices, and cold drinking water — all designed to safeguard labourers from the effects of extreme heat. Dr. Al Awar praised the company's commitment to corporate social responsibility (CSR) and highlighted the vital role of the private sector in boosting the UAE's global labour competitiveness. The visit also included representatives from Abu Dhabi Islamic Bank, Aster DM Healthcare, and National Food Product Company (NFPC), who contributed by offering workers medical check-ups, gifts, refreshments, and awareness sessions on heat exhaustion prevention. The Ministry of Human Resources and Emiratisation (MoHRE) reiterated that employers must provide shaded areas, adequate hydration, first-aid kits, and cooling solutions at job sites during the break. The ministry encourages community members to report any violations or non-compliance through the MoHRE call centre on 600590000, the official website, or the smart app.
Economy ME
2 hours ago
- Economy ME
Dubai gold prices rise AED3.75, global rates hit near 2-month high on Middle East tensions
Gold prices surged to their highest in nearly two months on Friday, and were on track for a weekly gain as investors sought safe-haven assets after heightened Middle East tensions. In Dubai, gold rates surged, with 24-carat gold gaining AED3.75 to AED412.5 and 22-carat gold rising AED3.25 to AED381.75. Additionally, 21-carat gold increased by AED3.75 to 366.5, while 18-carat gold inched up AED2.75 to AED313.75. Globally, spot gold climbed 1.38 percent to $3,426.01 at 4:07 GMT, after hitting its highest since April 22 earlier in the session. Bullion has gained more than 3.5 percent so far this week. Meanwhile, U.S. gold futures rose 1.40 percent to $3,449.95. Investor focus shifts to safe-haven assets Gold prices surged as geopolitical tensions in the Middle East escalated after Israel targeted Iran's nuclear facilities. Rising tensions in the region have shifted investor focus from trade negotiations as they head towards safe-haven assets in response. Gold prices have surged over their resistance around $3,400 on news of the airstrikes, and further upside is expected if tensions escalate further. Fed to cut rates earlier as labor market cools Elsewhere, new data signaled a cooling in the U.S. labor market and subdued inflation pressures. New applications for unemployment benefits held at an eight-month high last week, while slowing domestic demand helped restrain producer prices in May. The data, released a day after the Labor Department reported a moderate rise in consumer prices in May, bolstered expectations of an earlier rate cut by the Federal Reserve. Traders are now expecting a Fed interest rate cut of 55 basis points by the end of the year, starting in September rather than October as previously expected. Read: Boeing shares plunge 8 percent following India plane crash Other precious metals As gold prices surged to a near two-month high, the precious metals market was largely down. Spot silver fell 0.23 percent to $36.29 per ounce, platinum dipped 0.83 percent to $1,284.44, after hovering near a more than 4-year high in the previous session, while palladium was down 0.15 percent to $1,053.99.
The National
3 hours ago
- The National
Global stocks dive as Iran retaliates after Israel air strikes
Stock markets around the world plunged on Friday, while oil and gold prices rose, as Tehran conducted retaliatory attacks after Israel launched air strikes on Iran. The Dow Jones Industrial Averaged tumbled 769.83 points, or 1.79 per cent, as tensions between Israel and Iran escalated. The S&P 500 and tech-heavy Nasdaq Composite fell 1.13 and 1.30 per cent, respectively. Gold prices rose 1.43 per cent to about $3,450.90 an ounce as investors rushed to safe-haven assets after the escalation of hostilities in the Middle East. Japan's Nikkei 225 lost 0.89 per cent, South Korea's Kospi dropped 0.87 per cent and Hong Kong's Hang Seng index shed 0.59 per cent when markets closed on Friday. In other markets in Asia, China's Shanghai Composite and Shanghai A share index were both down 0.75 per cent. The Shenzhen A share index and Shenzhen component index were also trading lower. Taiwan's Taiex index was down 0.96 per cent. In India, the BSE 100 fell 0.65 per cent, while Australia's S&P/ASX 200 index declined 0.2 per cent. European stock markets were also trading lower amid geopolitical tensions in the Middle East. In London, the FTSE 100 was down 0.39 per cent, while Paris's CAC 40 fell 1.04 per cent and Frankfurt's DAX shed 1.07 cent. In the Middle East, Dubai's DFM general index closed 1.85 per cent lower, while Abu Dhabi's FTSE ADX general index was down 1.47 per cent. Iran launched retaliatory strikes on Israel on Friday, shooting a barrage of missiles at Tel Aviv after Iran's supreme leader Ayatollah Ali Khamenei pledged to strike back against the country. Global stock markets were already under pressure as a result of tariffs announced by the US President Donald Trump. The rising tension in the Middle East was expected to add another layer of uncertainty to markets. 'Rising geopolitical tensions are powering haven assets,' said Ipek Ozkardeskaya, a senior analyst at Swissquote Bank. She added that oil and defence stocks were likely to benefit. Market volatility is likely to 'remain elevated,' amid the rise in tensions in the Middle East, Vijay Valecha, chief investment officer at Century Financial told The National. 'The sell-off was broad-based, reflecting investor unease over potential escalation and retaliation by Iran, which has promised a forceful and proportional response,' he said. Rate cut optimism by the Fed following the recent soft inflation data in the US is also supporting gold prices, he added. Nigel Green, chief executive of deVere Group, also expects market volatility to persist in the short term. However, 'time and again, we've seen markets overreact to geopolitical events – only to recover once the initial panic fades. This is not a systemic crisis, and fundamentals across most sectors remain intact', he said. Meanwhile, the US dollar strengthened against major currencies after the attacks. The Israeli shekel was also trading lower against it. 'The US dollar has been the clear winner, recovering around half of its week-to-date losses, with the yen and the Swiss franc also outperforming,' said Matthew Ryan, head of market strategy at global financial services firm Ebury.
