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Energy
UAE’s DEWA invests $42.85 million in new 60-million gallon water reservoir in Lusaily
The new reservoir has been constructed adjacent to an existing reservoir with a capacity of 120 MIG of desalinated water
Hospitality & Tourism
Sharjah Airport reports 8.3 million passengers in H1 2024, achieving 12.4 percent growth
The airport saw a 12.2 percent growth in aviation movements, totaling 52,702 flight operations
Markets
Oil prices stabilize amid declining U.S. reserves, slower China demand
Brent crude oil futures were down by 4 cents to $83.69 per barrel
Banking & Finance
Oman Central Bank issues T-bills worth over $80.93 million
The value of the 28-day maturity treasury bills allocated was $38.97 million
Economy
Saudi Arabia’s annual inflation rate rises to 1.5 percent in June 2024: GASTAT
Food and beverage prices increased by 1.1 percent, driven by a 6.5 percent rise in vegetable prices
Economy
UAE Central Bank’s gold holdings reach $5.54 billion by April end, up 12 percent year-on-year
Reserves increased on a monthly basis by 3.5 percent from AED19.615 billion in March 2024
Miscellaneous
ADNOC, Mubadala collaborate to cultivate Emirati talent for UAE’s sustainable future
The move aims to develop Emirati talent for crucial sectors through advanced training
Markets
Oil prices dip amidst Chinese economic slowdown, anticipation of Fed interest rate cuts
Brent crude futures fell 21 cents, or 0.25 percent, to $84.64 per barrel
Banking & Finance
Saudi central bank launches new digital platform for streamlining government financial transactions
This initiative is part of SAMA's strategy to provide banking services to government agencies and support digital development
Economy
Egypt maintains position as Africa’s top investment destination for second consecutive year: UNCTAD
Egypt accounted for 18.6 percent of Africa's total investments, which amounted to $52.6 billion in 2023
Energy
Kuwait announces massive oil and gas discovery estimated at 3.2 billion barrels
This discovery has raised hopes of finding additional hydrocarbons to boost the country's energy resources
Logistics
Dubai’s RTA launches trials of world’s first 3D printed abra, reducing manufacturing time by 90 percent
The 3D-printed abra can carry 20 passengers and was designed to retain the traditional abra identity
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