MENA

ADIPEC 2024: Microsoft supports energy transition towards more sustainable future 

The booth features a Surface Zone and demo arena for attendees to explore Microsoft’s solutions for operational and environmental goals 

ADIPEC 2024: ADNOC, AIQ developing first-of-a-kind agentic AI solution for global energy transformation

ENERGYai combines large language models with specialized ‘agentic’ AI agents for tasks across ADNOC’s value chain 

DAE signs lease agreements with Hainan Airlines for four new Boeing 737-8 Aircraft

The inclusion of these cutting-edge Boeing 737-8 aircraft will aid Hainan Airlines in achieving its growth and operational goals. 

Qatar affirmed at ‘AA/A-1+’; outlook stable: S&P

Growth momentum is expected to strengthen from 2026, supported by the North Field Expansion (NFE) LNG project

Lulu Retail IPO size increased to 30 percent on ADX

The offer price range remains unchanged, set between AED1.94 and AED2.04 per share

Fitch raises Egypt’s long-term foreign-currency rating to ‘B’ with stable outlook

The agency highlighted improvements in external finances driven by notable foreign investments and strengthened policy initiatives 

Ras Al Khaimah, U.K. Government strengthen partnerships across key trade, investment sectors

The partnership aims to enhance industrial cooperation and facilitate two-way trade between Ras Al Khaimah and the U.K.

OPEC+ extends voluntary oil output cuts until the end of the year

The group is currently cutting 5.86 million barrels per day of output, equal to about 5.7 percent of global demand

IMF to review Egypt’s loan program on Tuesday with GDP growth projected at 4.2 percent for FY2025

Georgieva noted that Egypt's inflation reached 37 percent in 2023 but has decreased to between 25 percent and 26 percent

Sheikh Hamdan reviews RTA’s $4.35 billion 2024-2027 Main Roads Development Plan

The plan will introduce 22 projects throughout Dubai’s growing road network

ADGM launches new ‘Path to Forward’ brand identity

The new brand resonates with the financial centre’s growth, resilience, and optimism 

Oil prices rise as OPEC+ extends production cuts, impacting U.S. election and Chinese stimulus expectations

Brent futures had risen by $1.18 per barrel, translating to a 1.61 percent increase, reaching $74.28 per barrel

Sheikh Hamdan meets Google’s president, emphasizes AI for $27.2 billion annual growth

The discussions centered on enhancing the collaboration with this leading global technology firm

Alpha Dhabi records $3 billion net profit in 9 months

The Group achieved revenue of $12 billion, representing a 36 percent year-on-year increase 

81.4 percent of Japan’s oil imports sourced from UAE, Saudi Arabia in September 

UAE stood out with 31.33 million barrels, while Saudi contributed 27.98 million barrels 

Sharjah real estate sees 69,078 transactions worth $7.62 billion in 9 months

UAE nationals contributed $3.72 billion through the purchase of 22,908 properties 

UAE’s non-oil sector projected to grow between 4 percent and 5 percent in 2025: IMF

The country's economic growth is projected to lead region in 2025, says Dr. Azour

Sheikh Mohammed bin Rashid issues Decree on Board of Dubai Electronic Security Centre

As per the Decree, Tamim Mohammed Al Muhairi will serve as Vice Chairman

764 major deals drive $15.79 billion in Abu Dhabi, Dubai bourses this year

At ADX, there were 549 transactions, encompassing 16.6 billion shares valued at AED55.4 billion

Global climate investment gap projected at $2.7 trillion annually by 2030, warns Moody’s

The report noted that investment has risen since the Paris Agreement, but reaching net zero by 2050 needs much more effort 

Oil prices surge as OPEC+ weighs production delays and U.S. gasoline stockpiles drop to two-year low

Brent crude futures, now reflecting the January contract, increased by $1.41, or 2 percent, reaching $74.22 a barrel

Google launches AI Opportunity Initiative for MENA region with $15 million funding

New initiative aims to further empower half a million individuals within two years with critical AI skills