business

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

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

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

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

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

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

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

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

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

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

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

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