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Economy Middle East Summit 2025
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Economy Middle East Summit 2025
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Banking & Finance
stc reports 85.7 percent surge in net profit to $6.6 billion in 2024, revenues hit $20.2 billion
Revenue increased 5.7 percent compared to 2023
Energy
Oil prices up 0.3 percent to $73.27, recovering from 2-month low; economic concerns persist
West Texas Intermediate (WTI) crude futures climbed 0.4 percent to $69.17 a barrel
Markets
ADX daily trading volumes climb 27.5 percent with 30 percent boost in investor count since start of 2025
ADX launched the "New ADX Group" to enhance market infrastructure and trading efficiency with two entities
Economy
UAE, Italy ink 3 investment memoranda to facilitate cooperation in pharmaceuticals, minerals, data centers, AI
In 2023, Italian exports to the UAE were $7.22 billion; UAE exports to Italy were $1.57 billion
Banking & Finance
UAE: FTA registers intellectual property for ‘Muwafaq’ package
The package aims to boost innovation in taxes, enhancing SME empowerment and tax compliance
Economy
New business success index identifies key factors for thriving in Saudi Arabia amid 33 percent expansion urgency
18 percent increase in international companies entering Saudi Arabia from outside MENAT
Markets
UAE gold prices decline AED0.25, global rates hit new record high on tariff worries and exchange-traded fund inflows
Spot gold experienced a slight increase of 0.1 percent, reaching $2,939.15 an ounce
Energy
Oil prices rise 0.6 percent to $75.19 as new U.S. sanctions on Iran ignite supply concerns
West Texas Intermediate (WTI) crude futures increased by 0.7 percent to $70.92 per barrel
Markets
Oman launches electronic system for issuing securities (E-IPO) to enhance transparency in financial transactions
The electronic system for issuing securities will streamline procedures, reducing time and effort for stakeholders
Economy
UAE to invest $40 billion in Italy across key sectors, over 40 new agreements signed
Non-oil trade between the two countries grew to $11.7 billion in 2023
Economy
UAE joins Kuwait in celebrating 64th National Day as bilateral trade reaches $13.6 billion
The UAE imports 22 percent of Kuwait's non-oil exports, ranking third after China and U.S.
Economy
ADGM completes Al Reem Island integration, adds over 1,100 entities to jurisdiction
Since the expansion was announced in April 2023, more than 600 new businesses have set up on Al Reem Island
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