MENA

AD Ports Group assigned new A1 Credit Rating by Moody’s

The A1 rating is the fifth-highest on Moody’s scale, indicating upper-medium investment grade and low credit risk 

Abu Dhabi Finance Week (ADFW) 2024: ADIO and PGIM to establish RealAssetX Innovation Centre in Abu Dhabi

Integrating local institutions with global research leaders to advance sustainability, AI and Deep Tech for real assets

Saudi Arabia’s PIF launches Adeera to develop new homegrown hospitality brands

A comprehensive initiative to transform the Saudi hospitality sector and enhance local talent

Oil prices surge modestly amid China’s stimulus optimism and U.S. economic indicators

Brent crude futures for February delivery ascended by 0.4 percent to $72.47 a barrel

Qatari economy grows 0.8 percent to $48.5 billion in Q2 2024

GVA of non-mining sector activities reached $33.23 billion during this period

Red Sea Global partners with Jetex to operate private jet terminal at Red Sea International Airport

This partnership was formalized between Jetex and daa International, marking a new era in luxury aviation on Saudi Arabia’s western coast

Dubai’s talabat shares climb over 7 percent upon listing on DFM

The company will trade under the ticker symbol “TALABAT”

RTA completes rail grinding and overhauls 79 Dubai Metro trains

This initiative enhances the efficiency, safety, and sustainability of Dubai Metro, aligning with RTA’s Strategic Plan 2030

Central Bank of Kuwait allocates $792 million bonds, securitization

The bank specified that this issuance has a maturity period of three months and an interest rate of 4.125 percent

Oil prices slip as market reacts to China’s stimulus and Middle East instability

Brent oil futures for February delivery decreased by 0.2 percent, settling at $72.00 per barrel

Sheikh Mohammed appoints Marwan bin Ghalita as new acting director-general for Dubai Municipality

Marwan bin Ghalita will take on this role while continuing with his existing responsibilities

ADBW 2024: Abu Dhabi announces Golden Vendor list to boost local procurement in industrial sector

Products and services that are part of the Golden Vendor List will now be integrated into the Abu Dhabi Government's tendering process

Abu Dhabi’s Hub71 secures $1.9 billion in funding for startups

The global tech hub generated revenues surpassing $1.08 billion

Abu Dhabi’s NMDC LTS signs definitive agreement to acquire 70 percent equity stake in Emdad

The acquisition, pending regulatory approvals, will allow NMDC to expand into oilfield services

ADBW 2024: Abu Dhabi Chamber launches 2025-2027 Roadmap with five pillars for innovation and growth

The new roadmap guides the enhancement of the emirate’s economy, building on ADCCI’s successes over the next three years 

What to expect at the 30th Dubai Shopping Festival this December

DSF offers concerts, fireworks, drone displays, shopping, and raffles, enchanting visitors daily across Dubai, from sunrise to sunrise

Oil prices decline as OPEC+ prolongs supply cuts

Brent crude futures for February delivery fell by 0.4 percent to $71.80 a barrel

Optimism in Saudi real estate fueled by lower rates and strong transparency: Report

The Kingdom’s commitment to economic diversification under Vision 2030 support growth and boost investor confidence 

dnata Logistics breaks ground on $27.2 million Dubai South warehouse

The new warehouse will handle 400,000 tons of cargo annually, boosting storage capacity by 50 percent and creating over 50 jobs 

Dubai CommerCity launches autonomous delivery robots trial for enhanced last-mile logistics

The free zone will designate areas for robot parking and charging during the trial to enable seamless operations 

COP16 Riyadh: Arab Coordination Group commits $10 billion by 2030 to combat desertification, land degradation

This commitment aims to enhance land restoration, climate resilience, and nature-positive development

Dubai Duty Free reports $1.94 billion in sales by end of November 2024

November 30 set a new daily sales record for the year at $8.46 million

AI in sports forecasted to hit $19.2 billion by 2030: Report

AI expected to generate $8.5 billion for GCC media and entertainment by 2030

Oil prices edge up amid U.S. inventory draw, OPEC+ meeting in view

Brent crude futures, set to expire in February, climbed by 0.1 percent to $72.37 a barrel