Worldwide

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.

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

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

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 

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

FII8: PIF and Google Cloud to launch global AI hub in Saudi Arabia to support ICT goals, foster tech partnerships

This partnership grants customers access to Google Cloud’s technology, boosting growth and AI delivery 

Oil prices soar on optimism over U.S. demand, potential OPEC+ output delays

Brent crude futures were up by 47 cents, or 0.65 percent, reaching $73.02 a barrel

Air Arabia Abu Dhabi to introduce new direct flights to Russia’s Yekaterinburg starting December 27

This new non-stop service will run twice weekly, offering convenient access between Zayed International Airport and Koltsovo International Airport

UAE gold prices soar, global rates hit record high ahead of Diwali

Markets are also bracing for a series of economic indicators in the coming days 

Oil prices climb following unexpected draw in U.S. oil stocks, anticipation of key economic data

Brent oil futures for December delivery climbed 0.5 percent to $71.50 per barrel

Emirates strengthens connectivity, expands travel options through new MoUs with Vietnam Airlines and VietJet

The MoUs were formalized during the Vietnam - UAE Business Forum, which took place recently at the Hilton Dubai Palm Jumeirah 

Emirates resumes daily service to Australia’s Adelaide with Boeing 777-200LR

This renewed service provides travelers with more than 4,200 seats weekly, linking Dubai with the capital of South Australia 

Sheikh Mohammed and Vietnam PM discuss enhancing bilateral cooperation, sign CEPA

CEPA facilitates UAE service providers' access to various sectors in Vietnam, including business, finance, and tourism

Sharjah Airport and Air Arabia launch daily flights to Maldives, boosting tourism and connectivity

Air Arabia will provide daily flights between Sharjah Airport and Velana International Airport in Malé, Maldives, utilizing Airbus A320 aircraft

Oil prices plummet as Middle East tensions ease, demand outlook weakens

Brent Oil Futures set to expire in December decreased by 4.1 percent, closing at $72.97 a barrel

World Bank advances Gender Strategy 2030 to empower 300 million women

Strategy aims to support 250 million women with social protection programs

UAE signs two agreements with IMF to support PRGT, RST funds

At the October 2023 IMFC meeting in Marrakech, the UAE announced a $200 million co-financing initiative for the PRGT

Oil prices surge with notable weekly gains as traders react to supply concerns, mixed economic signals

Brent crude futures for December delivery rose 0.4 percent to $74.70 per barrel

UAE drives regional economic growth: Insights from LSE Deputy CEO

The country has successfully completed 37 bond issues amounting to a total of $18.51 billion