Alhamdu lillahi allathee lahu ma fee assamawati wama fee al-ardi walahu alhamdu (surah Saba: 1)

Tafseer Tafheem-ul-Quran by Syed Abu-al-A'la Maududi

(34:1) All praise be to Allah to Whom belongs all that is in the heavens and all that is in the earth, *1 and all praise be to Him in the World to Come. *2 He is Most Wise, All-Aware. *3

Alhamdu lillaahil lazee lahoo maa fis samaawaati wa maa fil ardi wa lahul hamdu fil aakhirah; wa Huwal Hakeemul Khabeer

*1) The Arabic word hamd is used both for praise and for gratitude and both the meanings are implied here. When Allah alone is the Owner of the whole universe and of everything in it, then inevitably He alone deserves to be praised for every beauty, perfection, wisdom, power and excellent skill and design shown and manifested by it. Therefore, every inhabitant of the world must thank AIlah alone for any benefit and pleasure that he draws from anything here. For when no one else is a partner in the ownership of these things, no one else deserves to be praised or thanked.
*2) That is, "Just as every blessing in this world is granted by Allah alone, so in the Hereafter also whatever a person will get, he will get from His treasures and by His grace. Therefore, in the Hereafter too, Allah alone deserves to be praised as well as thanked. "
*3) That is, "All His works are based on perfect wisdom and knowledge. Whatever He dces, He does right. He has full knowledge about every creation of His as to where it is, in what state it is, what are its requirements, what precisely needs to be done for its well-being, what it has done so far and what it will do in the future. He is not unaware of the world created by Himself, but is fully aware of the condition and state of every particle in it. "