business

UAE’s ADNOC embraces AI for sustainability, drives $500 million in savings and 1 million tons of carbon cuts

Last year, ADNOC implemented over 30 AI tools to improve the efficiency of its projects

Saudi PIF’s revenues soar 100 percent to $88.22 billion in 2023

The fund swung to a profit of $36.81 billion in 2023, after posting a loss of $15.6 billion a year earlier

Oil prices rise as demand optimism builds ahead of U.S. inventory report

Brent crude futures rose 2 percent to $86.41 per barrel

Dubai launches new mixed-use development project ‘DIFC Square’

The project will expand DIFC's real estate with offices and retail, meeting the demand for prime office space in Dubai's financial district

Saudi Arabia posts record trade surplus of over $11 billion

This represents a 36 percent increase compared to the surplus of $8.1 billion recorded last year

Bahrain’s national non-oil exports reach $838.3 million in May

Saudi Arabia ranked first among export destinations, with BD64 million (20 percent) in national origin exports

Fitch affirms UAE’s rating at ‘AA-‘; outlook stable

The agency expects non-oil growth of 4.3 percent in 2024

Egypt fulfills $25 billion debt obligations, representing 7 percent of GDP: IIF

Egypt targets 3.5 percent primary surplus, 80 percent debt-to-GDP by 2027

Half of all emerging-market debt issued by GCC countries, Malaysia, Indonesia, and Türkiye: Report

In 2024, these countries accounted for 51 percent of U.S. dollar debt issued by EMs (excluding China)

Dubai’s mortgage market at 14-month high: Top areas seeing highest activity

Data indicates a growing trend of buyers, often younger individuals, seeking properties in popular lifestyle and social hubs

Bahrain exceeds global ICT development average, ranks fifth worldwide with score of 97.5

Bahrain's economic leadership and technological progress have catalyzed further innovation and development in this vital sector

Remittance flows to low-middle-income countries moderated in 2023, reaching $656 billion: World Bank

Remittances to LMICs are expected to grow 2.3 percent in 2024, but unevenly across regions