Oman Raised to Investment Grade by Moody's as Debt Burden Falls
Oman's rating was lifted by one notch to Baa3 — the lowest in investment grade — on Friday, with the agency citing an improvement in the Gulf country's debt profile. The outlook was revised to stable from positive, signaling a change isn't expected in the next 12 months.
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Yahoo
an hour ago
- Yahoo
Key Industry Players Like SPACEX and Airbus Lead LEO Satellite Advancements
The global LEO satellite market is driven by increasing LEO satellite launches for commercial, government, and defense applications. The market offers opportunities for data and remote sensing service providers, investors, and technical service providers. With low costs, advanced mechanics, and ease of launch, LEO satellites see rising investments. The payloads segment is set to grow fastest, driven by demand for customizable, mission-specific instruments. The commercial segment, led by players like SPACEX and Amazon, will dominate by 2025, expanding global internet access. Middle East & Africa is the fastest-growing region, aided by government support and a need for improved connectivity. Key players like L3Harris Technologies, Lockheed Martin, and Northrop Grumman invest heavily in innovations, positioning the market for significant expansion. Dublin, Aug. 05, 2025 (GLOBE NEWSWIRE) -- The "LEO Satellite Market by Subsystem [Satellite Bus (Command & Data Handling, Electric Power System), Payload (Optical, Infrared, Radar), Solar Panel, Satellite Antenna], Satellite Mass, Application, End Use, Frequency, and Region - Global Forecast to 2030" has been added to offering. The LEO satellite market is poised to reach USD 20.69 billion by 2030, up from USD 11.81 billion in 2025. The surge in LEO satellite launches for commercial, government, and defense applications is anticipated to drive market growth. This sector provides vast opportunities for data service providers, satellite service providers, remote sensing service providers, technical service providers, and investors. Key factors such as versatility, low costs, advanced mechanics, ease of assembly and launch, mass production abilities, and short lifecycles have fostered increased investment in LEO satellites. As new technologies develop and satellite operations expand, the volume of satellite data and its applications are set to grow. The payloads segment is expected to exhibit the fastest growth during the forecast period. The LEO satellite market has been segmented based on subsystem types, including satellite buses, payloads, solar panels, satellite antennas, and others. Among these, payloads are predicted to grow the quickest due to rising demand for mission-specific instruments supporting diverse applications like climate monitoring and secure communications. The segment's expansion is fueled by the rise of data-driven services and the integration of AI-enabled payloads for onboard data processing. The demand for high-performance payloads is driven by sectors using small weather-monitoring satellites for tracking atmospheric conditions and Earth observation missions employing advanced imaging for urban planning and disaster response. This increase in application-specific functionality, coupled with cost reductions in payload miniaturization and demand from both commercial and governmental satellite constellations, is boosting growth. The commercial segment is estimated to acquire the highest share in 2025 The LEO satellite market is categorized by end use into commercial, government & military, and dual use. The commercial segment is projected to dominate in 2025, owing to the reduced costs and simplified processes of launching small satellites, which have made extending internet access to remote areas feasible. Companies like SPACEX (US) and Amazon (US) are investing heavily to expand global internet coverage. Advancing technologies are leading to smaller, cost-effective satellites, saving money and time for launches. Governments support these initiatives by offering permits and creating regulations that streamline operations, ensuring sustained growth for the commercial segment of the LEO satellite industry. The Middle East & Africa is expected to be the fastest-growing region during the forecast period The LEO satellite market is set for rapid expansion in the Middle East & Africa due to essential broadband internet access driven by digital transformation efforts. These regions, where geological conditions hinder traditional communication methods, see satellite technology as vital in bridging connectivity gaps. Governments are actively fostering space technology advancement through effective policies, regulatory frameworks, and investment incentives that encourage private sector participation. Satellite demand is also influenced by the need for remote education, e-government services, and smart city development-positioning the Middle East & Africa as a strategic hub for continental trade and communication. The partnership between regional telecom operators and global satellite vendors helps make satellite services more accessible and affordable. Major players in the LEO satellite market include L3Harris Technologies (US), Lockheed Martin Corporation (US), Northrop Grumman Corporation (US), Airbus Defence and Space (Netherlands), and SPACEX (US). Research Coverage This study examines the LEO satellite market across various segments and subsegments, aiming to estimate market size and growth potential through an analysis of factors like satellite mass, subsystems, applications, end users, frequency bands, and regions. The study also includes a thorough competitive analysis of key players. The report provides insights on the following: Analysis of key drivers such as the rising demand for satellite internet services, the need for earth observation imagery, expanding satellite networks for internet access in underserved areas, and increasing launches of CubeSats Product Development: In-depth innovation and development analysis by companies across various regions Market Development: Comprehensive information about lucrative markets Market Diversification: Exhaustive information on new solutions, untapped geographies, recent developments, and investments in the LEO satellite market Competitive Assessment: Detailed assessment of market shares, strategies, and product offerings of leading players like L3Harris Technologies, Lockheed Martin Corporation, Northrop Grumman Corporation, Airbus Defence and Space, and SPACEX, among others Key Topics Covered: Market Dynamics Drivers Elevated Demand for Satellite Internet Services Need for Earth Observation Imagery and Analytics Increasing Launches of Cubesats Restraints Stringent Government Policies Limited Coverage and Complexity of Leo Satellites Opportunities Potential Applications of Laser Beam Pointing Technology Technological Advances in Electric Propulsion Systems, Antennas, and Ground Stations High Adoption of Software-Defined Technology Booming 3D Printing Technology Challenges Concerns Over Growing Space Debris Complex Supply Chain Management Case Study Analysis IoT and Communication Satellites Space-based Wireless Monitoring Systems Measurement of Magnetic and Electric Fields in Ionosphere Real-Time Data for Emergency Systems Satellite Radiation Hardness Test Company Profiles Key Players Spacex Lockheed Martin Corporation Airbus Defence and Space Northrop Grumman L3Harris Technologies, Inc. Thales Alenia Space Oneweb Surrey Satellite Technology Ltd. Planet Labs Pbc Sierra Nevada Corporation Maxar Technologies Gomspace Mitsubishi Electric Corporation Exolaunch GmbH China Aerospace Science and Technology Corporation Bae Systems RTX OHB SE The Aerospace Corporation Millennium Space Systems, Inc. Kuiper Systems LLC Other Players MDA AAC Clyde Space Aselsan A.S. Pumpkin Inc. Alba Orbital Limited Endurosat Earth-I Ltd. Nanoavionics Alen Space Nearspace Launch, Inc. For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Forbes
an hour ago
- Forbes
Dubai's Luxury Hotel Openings: Rosewood Joins The Race
Many luxury hotels announced new openings in Dubai within a few years. getty Rosewood Hotels & Resorts just announced plans for its first Dubai property by 2029. This marks a significant milestone for the luxury hotel brand in the Gulf. But Rosewood is not alone. In a market long favored by global luxury players, Aman, Baccarat, SHA Wellness and MGM are also racing to secure long-term footholds in Dubai's ultra-luxury hospitality and branded residences sector. Here's a look at who's entering the market—and why now. Rosewood just announced it will open in Dubai with a 195-key hotel and eight private garden villas. Rosewood Rosewood Hotels & Resorts is the latest global player to enter the Dubai market, announcing plans for a landmark debut in the emirate by 2029. The project will include a 195-key hotel, eight villas and 63 branded residences overlooking the Dubai Canal. The site is located within the Peninsula development in Business Bay, a billion-dollar waterfront district by Bright Start—the real estate investment firm also behind Bvlgari Resort Dubai and Aman Dubai. The announcement follows a string of successful, high-profile openings for Rosewood, including new flagships in Amsterdam and Munich. Last summer, the brand also restored and reopen Austria's historic Schloss Fuschl, delivering one of Europe's most impressive hotel revivals. Rosewood already operates hotels in Abu Dhabi, Jeddah in Saudi Arabia, and Qatar's Doha. With additional properties underway in Saudi Arabia (Riyadh, Shura Island, Amaala)—and now Dubai—the brand is steadily expanding its footprint in the Middle East. Aman Dubai will combine the tranquillity of an Aman resort with Arab hospitality when it opens in 2027. Aman Aman Dubai (2027) Set on 1.4 million square feet of beachfront land in Jumeirah 2—an exclusive, low-rise neighborhood just north of the Burj Al Arab—Aman Dubai will include only 80 suites and a private Aman Club. Developed by Bright Start, the same real estate investment company behind Rosewood's development, the project reflects Aman's signature low-density, high-cost approach. With room rates projected to exceed $3,000 per night, Aman Dubai could become the most expensive hotel per key in the UAE. Mandarin Oriental Downtown Dubai will have 259 rooms and suites and 224 exclusive residences. Copyright Mandarin Oriental Alex Jeffries Mandarin Oriental Downtown (October 2025) Mandarin Oriental announced yesterday that its Dubai property will open in October 2025, marking the brand's second property in the city. Set within the architecturally striking (because of its ceramic twisting façade) Wasl Tower on Sheikh Zayed Road, it will include 259 rooms, 224 branded residences, and a rooftop helipad. The structure features the region's tallest ceramic façade and advanced energy-efficient systems, contributing to Dubai's urban sustainability goals. The gigantic MGM resort is set to open in Dubai in 2027. MGM MGM Resorts (2027) MGM Resorts has spent nearly two decades trying to enter the UAE. After several failed attempts, the company now announced it will open in Dubai in late 2027. 'The Island' will bring the Aria, Bellagio and MGM brand into a 1,400-room beachfront development. Aside from hotels, MGM's project will have a full-scale entertainment district. Plans feature a performance sphere (similar to the version in Las Vegas) and retail promenade, with space that could one day accommodate gaming. Whether gaming will be allowed depends on regulatory developments: So far, only the Wynn resort in the neighboring Ras Al Khaimah emirate has received a UAE casino license. A rendering of Corinthia's planned luxury hotel opening in one of the world's tallest towers. Corinthia Corinthia Meydan Beach Dubai (2030) The luxury Maltese brand makes its Middle East debut with a 55-story beachfront tower in Dubai Marina that will rise along Sheikh Zayed Road near the Museum of the Future, occupying a two-tower structure connected by a sky lobby 656 feet above ground. Fun fact: It will feature the world's highest outdoor sky pool, suspended more than 1,640 feet in the air with 360-degree views of Dubai. The world's first island for healthy living and longevity: Sha Wellness Island. SHA Wellness Island SHA Wellness Island (2026) Located halfway between Dubai and Abu Dhabi along the Sahel Al Emarat Coast, this man-made wellness island is part of the massive AlJurf development. It will house a SHA Wellness hotel, clinic, spa, and branded residences—the first of their kind globally. Marketed as the world's first 'healthy living island,' the project signals a new direction for luxury wellness and a focus on longevity in the Gulf region. Shiny tower, shiny happy people? The upcoming Six Senses Residences Dubai Marina will rise 122 stories above the city. Six Senses Six Senses Dubai Marina (2028) The brand is behind what's set to become the tallest residential tower in the world: the 122-story Six Senses Residences Dubai Marina, slated for completion in 2028. The US$1 billion project will include outdoor yoga decks, a sky-high lap pool, and full-scale fitness facilities—more than 100 floors above ground. On-site services will mirror those offered at Six Senses' ultra-luxury resorts, tailored for residents who want wellness without leaving home. Why Dubai—And Why Now? Dubai's rise as a luxury capital is about long-term planning, regulatory ease, and knowing how to attract people with money. And not just for a quick visit, but as return customers or for good. In 2024, the city pulled in $2 billion in foreign direct investment into tourism—14% of all FDI that year. That same year, it welcomed 18.7 million international visitors, up 9% from 2023. In the first half of 2025 alone, 9.88 million international overnight guests arrived—putting the city on track for another record year. That kind of growth requires actions, of course. Al Maktoum International Airport (DWC) is now undergoing a $35 billion expansion that will make it the largest airport in the world. New Airplanes For Emirates Airlines Emirates is upgrading its fleet with 300+ new aircraft and $4 billion in retrofits. Six of those upgraded 777s will serve U.S. routes to cities like Chicago, Seattle and Miami. And hotels are also keeping pace. In 2024, Dubai added 4,255 new rooms—70% of them luxury. Another 4,620 are expected this year. Occupancy hit 80.6% in H1 2025, with 22.24 million room nights sold. ADR rose 5%, RevPAR 7%. Beyond infrastructure, the city is also becoming easier to access. A new Unified Tourist Visa will allow visitors to move freely between the UAE, Saudi Arabia, Qatar, Bahrain, Kuwait, and Oman. For travelers basing themselves in Dubai, the entire region is about to feel a lot closer. Add in tax-friendly regulations, elite schools, and strong real estate gains—and Dubai is where high-net-worth travelers are setting up base. No wonder so many hotel brands want a permanent address here. MORE FROM FORBES: Forbes How $400 Million Built The Maldives' Most Family-Friendly Resort By Katharina Kotrba Forbes Inside Europe's Most Beautiful Hotel Restorations By Katharina Kotrba Forbes What To Do In Dubai: New Restaurants, Bars And Fun Experiences By Katharina Kotrba Forbes Inside Dubai's Soon-To-Open Luxury Resort Jumeirah Marsa Al Arab By Katharina Kotrba
Forbes
2 hours ago
- Forbes
Saudi Aramco Profit Dips For 10th Quarter In A Row
Energy giant Saudi Aramco (TADAWUL: 2222) posted its tenth successive decline quarterly profits on Tuesday, following reduced takings in the face of lower oil prices. In an announcement to the Saudi Stock Exchange Tadawul, Aramco declared an adjusted net income of 92.04 billion Saudi riyal (or $24.5 billion) over the three months to the end of June, down from $26 billion in the previous quarter. Second quarter revenues dropped to $101 billion Saudi riyal, from $116 billion Saudi riyal in the same period of the previous year. The latest drop in quarterly profits extended a run of drops dating back to the first quarter of 2023. 'The decrease in revenue was mainly due to lower crude oil prices and lower refined and chemical products prices,' Aramco noted in its quarterly report. The slump has not gone unnoticed by the market. Following the publication of its results Aramco shares ended trading at 24.02 riyals ($6.4) per share on the Tadawul on Tuesday, nearly 12% below the 27.35 riyals price of its secondary share offering in 2024. The majority government-owned company's market valuation has also suffered a steady decline from a peak of $2.4 trillion in 2022, at the height of the energy price spike in the wake of the Russia-Ukraine war, to around $1.6 trillion, thereby shedding a third of its market value to date. Aramco listed on the Saudi exchange in 2019 in an eye-catching move selling 1.7% of its shares at $29.4 billion, earning the floatation a tag of the world's biggest initial public offering. In June last year, a secondary offering of 0.64% of its issued shares raised a further $11.2 billion. The company has also transferred a 16% stake to the Saudi Public Investment Fund, the primary wealth vehicle spearheading much of Crown Prince Mohammed bin Salman Al Saud's signature Vision 2030 program. Reasons To Be Upbeat However, Aramco president and CEO Amin Nasser remained upbeat and predicted higher demand for the rest of the trading year. 'Market fundamentals remain strong and we anticipate oil demand in the second half of 2025 to be more than two million barrels per day higher than the first half,' he said in a statement accompanying the report. "Our long-term strategy is consistent with our belief that hydrocarbons will continue to play a vital role in global energy and chemicals markets, and we are ready to play our part in meeting customer demand over the short and the long-term. 'We continue to invest in various initiatives, such as new energies and digital innovation with a focus on AI – aiming to leverage our scale, low cost, and technological advancements for long-term success.' Dividend, Cost Savings And Natural Gas Aramco declared a base dividend of $21.1 billion along with a performance-linked dividend of $0.2 billion in the third quarter.2 In a later call with analysts, the company's chief financial officer Ziad Al-Murshed emphasized efforts to lower costs across the board. 'Across our upstream and across our downstream, we're going through transformations that are not only focused on cost cutting, but cost cutting is the major component of it,' Al-Murshed said. 'So every asset that we have across our upstream portfolio and every asset that we have across our downstream portfolio has been undergoing for the past couple of years, these transformational initiatives, and a lot of it is focused on cutting costs.' The company is also seriously turning its focus to natural gas, with a target for a more than 60% increase by 2030 compared to baseline 2021 levels. The development of Saudi Aramco's flagship Jafurah gas field on its home patch is expected to be a major part of that.
