business

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

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

FII8 conference concludes with global launches, investments and initiatives

World leaders and decision-makers convene to share insights into initiatives that address critical challenges and improve the lives of citizens

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

UAE joins U.S. Global Entry program to facilitate travel for Emiratis

Addition makes the UAE one of 23 partner countries to allow its citizens to apply for Global Entry membership

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

stc Group’s tali ventures leads $10 million investment in Series B funding for NorthLadder

This funding round was spearheaded by tali ventures, with additional contributions from the Dutch Founders Fund and Crescent Ventures

S&P predict robust growth in UAE Islamic finance driven by non-oil economy, $6.1 billion sukuk surge 

The agency notes a rise in foreign currency sukuk issuance, particularly in real estate and finance, to attract foreign investment 

Binghatti launches $1.36 billion Skyrise project in Business Bay

This launch further aligns with Binghatti's ambitious goal to expand its project portfolio to exceed AED100 billion within the next 18 months

FII8: Non-oil GDP now represents 52 percent of Saudi economy, Aljadaan says

The Minister noted that women's participation in the workforce has reached 35 percent, surpassing the vision's target of 30 percent 

FII8: stc Group joins hands with three new partners for Sustainability Champions program

The Group further reinforces its commitment to sustainability, connectivity, and technological advancement at FII8

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