business

Softlogic partners with Daikin to advance UAE’s commercial air conditioning industry

The partnership is formed amidst a booming UAE air conditioning market worth over $650 million, driven by real estate growth

Oil prices gain slightly as OPEC weighs output delay amid falling U.S. stockpiles

Brent crude futures for November rose by 15 cents, or 0.1 percent, to $72.85

Dubai welcomes 10.62 million international tourists in first 7 months of 2024

Western European countries topped the list of tourists to Dubai, with about 2.086 million visitors

National banks in the UAE invest $1.19 billion in local stock markets in 12 months: CBUAE

By the end of May, these banks had elevated their equity investments to AED16.1 billion

Abu Dhabi’s Masdar’s $1 billion green bond issuance drew $4.6 billion in demand, oversubscribed 4.6x

In July 2024, Masdar successfully raised $1 billion through its green bond issuance under its Green Finance Framework

Dubai RTA completes 4.6 km Umm Suqeim improvement project, reducing traffic by 40 percent during peak hours

The authority launched 200 new temporary parking slots and a 500-meter roadway

Türkiye’s inflation drops to 51.97 percent in August 2024 as disinflation continues

Consumer price inflation (CPI) rose 2.47 percent in August, driven by higher gas prices

Italy’s Saipem secures $1 billion in two major offshore contracts with Saudi Aramco

Saipem will be responsible for the EPCI three production deck modules, 33 km of subsea pipelines, and 34 km of power cables

UAE, Kuwait strengthen bilateral ties with MoUs on standardization, infrastructure, and cybersecurity

Other notable agreements included collaboration in communications and information technology

flynas launches inaugural flight at Zayed International Airport, linking Saudi Arabia and UAE with affordable travel

This new route will benefit business and leisure travelers, boosting tourism and trade between the two countries

Oil prices decline amid potential return of Libyan supply to the market

Brent Oil Futures fell by 4.9 percent, closing at $73.75 per barrel

Abu Dhabi’s Yahsat approves interim dividend of $55.79 million for H1 2024

Dividends will be distributed to shareholders registered by the end of the business day on September 12