MENA

QatarEnergy to build 6 new QC-Max LNG vessels at China’s Hudong-Zhonghua Shipyard

The QC-Max vessels are the largest LNG carriers, each with a 271,000 cubic meter capacity 

Kuwait Central Bank issues bonds, tawarruq worth $792 million

On August 19, KCB announced a similar allocation of bonds and tawarruq for three months at the same value and return rate 

Dubai’s dnata secures multi-year ground handling agreement with EasyJet at Zurich Airport

dnata will provide a full range of safe and reliable passenger, ramp, and baggage services for the low-cost airline

UAE’s ADNOC to supply LNG to Indian Oil Corporation for 15 years

The LNG will primarily be sourced from ADNOC's Ruwais LNG project

Unlocking MENA’s thriving investment opportunities at the EFG Hermes 10th Annual London Investor Conference

Leaders will convene from September 9 to 12 to discuss innovations in capital markets and regulatory developments

Microsoft and partners to generate $24 billion in Saudi Arabia over next four years, says IDC study

Microsoft’s partner ecosystem will earn roughly $8 for every $1 of revenue generated by Microsoft’s cloud services

Oman’s Salalah Free Zone draws $11.95 billion in investment by June 2024

In H1 2024, the Salalah Free Zone added 13 projects in frankincense, packaging, air conditioning, and textiles

Central Bank of Egypt forecasts easing inflation amid continued maintenance of interest rates

The MPC noted that domestic real GDP growth had moderated to 2.2 percent in the first quarter of 2024

Saudi private sector employment surges to over 11.5 million workers in August 2024

The number of residents employed in the private sector stood at 9,202,580, with 8,812,758 men and 389,822 women

Saudi Arabia to cut export and import customs fees starting October 6

Changes introduced to streamline trade processes and support business operations

Dubai Metro marks 15 years of success: Over 2.4 billion passengers and 4.3 million trips with 99.7 percent punctuality

Currently, the metro serves around 730,000 passengers daily, making it the preferred transportation choice for many

Rising bank credit demand in the UAE amid positive economic outlook, says Central Bank

In Q2, demand for trade credit remained strong, with a greater appetite for lending 

Egypt-Türkiye trade exchange declines 19 percent to $3 billion in H1 2024

Türkiye and Egypt aim to increase their bilateral trade volume by 50 percent, from $10 billion to $15 billion

Saudi Arabia cancels hotel licensing fees to boost tourism investment 

This change, effective September 4, aims to position the Kingdom as a global tourism leader

UAE’s ADNOC launches inaugural $4 billion notes offering under GMTN Program

The net proceeds from this issuance will be utilized by ADNOC Group for general corporate purposes.

GCC markets’ net foreign inflows cross $50 billion for first time in August: Report

In August, GCC equity markets saw strong net foreign inflows of $892 million

GCC banks well positioned to continue strong run in 2024: Report

The report stated that high interest rates kept profit margins at 2.7 percent, with strong bank profitability in H1

Abu Dhabi set to host AIM Congress 2025 in April

The event will address economic challenges through collaborative investment strategies

UAE, Jordan sign $2.3 billion investment agreement to boost railway sector

Investment memorandum follows a $2 billion agreement that the UAE and Jordan signed in 2023

Saudi Arabia and Türkiye central banks sign MoU to enhance economic cooperation, financial stability 

The central banks will share expertise and resources to address challenges and boost economic development

Softlogic partners with Daikin to advance UAE’s commercial air conditioning industry

The partnership is formed amidst a booming UAE air conditioning market worth over $650 million, driven by real estate growth