Economy

Türkiye’s economic growth falls to 2.5 percent in Q2 2024 amid rising interest rates

Growth is stabilizing, the current account deficit is narrowing, risk premiums are down, says minister

Sharjah Airport welcomes first flights of Saudi Arabia’s flynas, boosting international connectivity in the UAE

flynas will operate seven weekly flights from Jeddah and two from Madinah to Sharjah Airport, using Boeing 737s

Sharjah Summer Promotions 2024 concludes with over $190 million in sales

Ceremony also featured the distribution of valuable gifts and an AED3 million prize pool awarded to over 200 winners

UAE-China Think Tank Forum in Beijing explores cooperation in trade, education and culture

Forum provides a platform for collaboration and dialogue between think tanks in both countries to explore opportunities for joint academic projects

UAE approves consolidated financial statistics for 2023 with $39.2 billion government surplus 

Last year, the country attracted a record $30.49 billion in foreign direct investment, ranking second globally

SIF 2024 to launch on September 18, feature insights from industry experts on AI and business growth

Chris Do, Grant Cardone, Vusi Thembekwayo, and Aman Gupta among 80 industry leaders participating at the event

Algeria joins BRICS New Development Bank: A new era in economic collaboration

By joining the BRICS financial branch, Algeria is advancing its global financial integration

Oil prices plummet amid China’s economic slowdown, ongoing Libyan supply issues

Brent crude futures had fallen by 37 cents, or 0.48 percent, settling at $77.15 a barrel

UAE’s BRICS membership fosters new growth opportunities, global development

BRICS now represents around 45 percent of the world's population and 25 percent of global exports

Bahrain: Multinational enterprises required to pay new 15 percent minimum tax on profits starting January 1, 2025

This new framework for MNEs is fully in line with the guidelines set by the OECD

UAE to host major global events in September: All you need to know

The DIFC will host the inaugural Dubai AI & Web3 Festival on September 11-12 at Madinat Jumeirah

QatarEnergy to double urea production to 12.4 million tons by 2030

QatarEnergy plans to build a large urea production complex to boost global food and energy security

Moody’s upgrades Oman’s outlook to positive, citing improved debt metrics and strong fiscal management

The agency also retained its (P)Ba1 rating for the Government of Oman’s senior unsecured medium-term note program

DP World’s Jebel Ali sets new record with 1.4 million TEUs in July 2024

In H1 2024, the port handled 7.3 million TEUs, a 3.9 percent YoY increase

UAE’s ADX sees $507.2 million in ETF trading value during eight months of 2024

Since the start of 2024, ETF trading volume has reached 450.7 million units

Listed firms in GCC report $60.7 billion in net profits, 8.1 percent QoQ growth

Dubai's YoY profit growth reached 30.9 percent in Q2 2024, totaling $6.7 billion

Global air cargo demand up 13.6 percent in July 2024, eighth month of double-digit growth: IATA

Air cargo demand reached record highs year-to-date in July, with robust growth across all regions, says director general

ADFW 2024 set to begin on December 9, to host 50 events

Last year’s edition of ADFW hosted over 3,300 directors and executives from leading global financial firms

Qatar Central Bank releases $1.23 billion in T-bills, attracts $3.58 billion in bids

The bills included QAR300 million for a 7-day term (Tap Issuance) at an interest rate of 5.7815 percent

Dubai’s wealth management sector sees 62 percent surge in authorized entities in H1 2024: DFSA

The DFSA facilitated the expansion of capital markets in the DIFC, which remains the world’s largest ESG sukuk market

Celebrating Emirati Women’s Day: Visa’s ‘She’s Next’ returns to UAE with third edition

The third edition supports women entrepreneurs in publishing, fashion, food, and more over several months

GCC listed banks post record $14.8 billion net profit in Q2 2024

Year-over-year, the growth was robust at 9.2 percent compared to Q2 2023