MENA

World Bank partners with ADGM Academy to boost financial literacy, economic knowledge

The collaboration will create an environment that equips individuals, businesses, and governments with the skills to thrive in the evolving financial landscape

Abu Dhabi’s TAQA, JERA and Al Bawani to develop two new highly efficient power plants in Saudi Arabia

These agreements will enable two new CCGT projects in Saudi Arabia with over 3.6 gigawatts capacity 

ADX executes $40.56 million deal in IHC shares

This transaction consisted of 360,000 IHC shares, each priced at AED414

UAE sustains role as key regional hub for trade, business, travel: World Bank

This prominence is due to the country's successful economic diversification and reduced reliance on oil 

DXB welcomes 68.6 million travelers in nine months, up 6.3 percent over last year

In Q3, over 111,300 flights were managed, totaling 327,700 flight movements for the first nine months

Arab stock exchanges’ market cap rises 2.54 percent to $4.3 trillion in Q3 2024: Report

The Beirut Stock Exchange led the upward movement among Arab stock exchanges, with its index increasing by 29.03 percent

MENA region sees 522 M&A deals valued at $71 billion in 9M 2024: Report

MENA M&A market is extremely buoyant and is expected to end the year with more than 700 deals, close to the historic five-year high of 750 deals

UAE joins Oman in National Day celebrations

Non-oil trade between the two countries reached AED51 billion last year, up from AED48.7 billion in 2022

EFG Hermes launches $300 million Saudi Education Fund, acquires Britus Education portfolio of 7 schools

After having created the leading K-12 operator in Egypt, EFG Hermes aims to replicate its success story in the Saudi market

Dubai’s RTA improves access in four neighborhoods for 400,000 residents

Once completed, these improvements are anticipated to boost capacity by 50 percent to 80 percent

Lebanon sees $8.5 billion in physical damages, economic losses amid conflict: World Bank

Damages to physical structures alone amount to $3.4 billion while economic losses have reached $5.1 billion

Profitability, asset quality to boost GCC banking sector resilience in 2025: S&P

Brent oil price will average $75 per barrel in the fourth quarter of 2024 and over 2025-2027, which will be helpful for most GCC countries

Global South presents sustainable investment opportunities for Middle East sovereign wealth funds: Report

In the Global South, critical areas like water and sanitation, food security, education, forestry, and biodiversity conservation, remain largely untapped

Oil prices rise modestly but stay near two-week lows after OPEC’s demand growth downgrade

Brent futures had climbed by 17 cents, or 0.24 percent, reaching $72.06 a barrel

DIFC successfully repays $700 million sukuk on schedule

The Sukuk was issued to fund the Centre’s expansion, including Gate Avenue

COP29 begins in Baku with active, effective participation from UAE

COP29's mission is to restrict global warming to 1.5°C, highlighting the critical necessity for investment in climate initiatives

Dubai’s Spinneys announces record $626.2 million revenue for nine months, pre-tax profit climbs to $55.3 million

Adjusted EBITDA up 8.8 percent YoY with an industry-leading EBITDA margin of 18.3 percent

ADNH Catering reports $326.7 million revenue for nine months, confirms $16.3 million dividend for FY 2024

The pro forma net profit reached AED110 million, showcasing a robust net profit margin of 9 percent

DFM records $10.5 million in major trades on Al Ansari, Ajman Bank

29.1 million shares of Al Ansari were traded for AED28.5 million at AED0.97 each 

ADIPEC 2024: ADNOC awards $196.2 million contracts to 11 companies for manufacturing in UAE 

Awards for a wide range of products enabled by the company's In-Country Value (ICV) program

ADIPEC 2024 sets new records, unites industries to drive sustainable socioeconomic advancement

Under the theme ‘Connecting Minds. Transforming Energy,’ ADIPEC 2024 drew a record 205,139 participants from 172 countries 

UAE’s banking sector net international reserves up 11 percent to $346.58 billion by end July 2024

CBUAE’s gold reserves grew by 23.5 percent YoY, reaching AED21.28 billion by the end of July