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Markets
Oil prices slide on bearish inventory data, persistent global economic slowdown fears
Brent crude oil futures for October delivery fell 0.5 percent to $76.13 per barrel
Banking & Finance
Saudi PIF affiliate invests $1.5 billion in EV maker Lucid Group
The deal includes a $750 million convertible preferred investment and a $750 million unsecured term loan
Banking & Finance
Dubai’s Empower posts $368 million in revenues in H1 2024 with 10.3 percent growth over H1 2023
The company earned $116.52 million in profit before tax, a 6.3 percent increase from the same period in 2023
Banking & Finance
UAE Central Bank’s gold reserves surge 19.7 percent YoY in May 2024 to $5.61 billion
In April 2024, CBUAE's gold reserves reached $5.54 billion
Bahrain
Bahrain’s economy posts solid 3.3 percent growth, lifting Q1 2024 GDP to $9.55 million
The oil sector grew by 3.4 percent and the non-oil sector by 3.3 percent at constant prices
Banking & Finance
Saudi Arabia’s non-oil sector maintains solid growth in July, PMI at 54.4 amid competitive dynamics
The start of Q3 saw both output and new orders expand to a lesser degree
Banking & Finance
Türkiye inflation eases for second month to 61.78 percent in July 2024, but policymakers remain vigilant
Challenges remain in education, housing, and hotels
Economy
Billion-dollar losses: What’s behind the unprecedented stock market collapse?
Can the Fed intervene to calm global markets?
Banking & Finance
Dubai TECOM Group’s net profit rises to $164.17 million, revenue surges 9 percent to $299.48 million
The Group's top-line growth contributed to a 9 percent YoY surge in EBITDA, which reached $243.94 million
Energy
Dubai’s DEWA sees over 6.7 million digital transactions in H1 2024, up 11 percent
Customers carried out over 1.1 million digital transactions through the authority's website
Banking & Finance
UAE gross bank assets surge over 10.8 percent to $1.16 trillion in May 2024
Gross credit grew 0.7 percent from AED2.063 trillion in April 2024 to $565.47 billion
Energy
China’s maritime economy generates $678.55 billion in H1 2024, up 5.6 percent YoY
The sea area designated for use grew by 16.9 percent YoY, with ¥500 billion in projects
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