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Energy
ADNOC Gas awards $550 million contracts to expand UAE gas infrastructure, increase customer reach
The contracts were awarded to NMDC Energy P.J.S.C and Galfar Engineering & Contracting W.L.L Emirates
Markets
Oil prices steady amid strengthening dollar, concerns over weakening demand in China
Brent oil futures for September delivery recorded $85.10 per barrel
Sustainability
UAE expands EV charging network through Emirates Transport partnership, targeting 50 percent EV adoption by 2050
The deal will explore ways to make the public transport sector more sustainable
Energy
Emarat, Emirates airline sign first aviation fuel supply agreement for Al Maktoum Airport
The deal is part of a longstanding three-decade partnership between Emirates and Emarat
Sustainability
Sustainable investments could unlock $2 trillion for GCC countries by 2030: Report
Green finance is surging in the GCC, with over $8.5 billion in green and sustainable bonds and Sukuk issued in 2022
Banking & Finance
CBUAE’s foreign assets surge 2.55 percent to $204.27 billion in April 2024
The Central Bank has added more than AED176 billion to its foreign assets within a year
Hospitality & Tourism
Top summer 2024 travel destinations for UAE residents revealed
Data showed a significant uptick in both domestic and international travel
Markets
Oil prices rise on softer U.S. inflation, summer demand hopes
Brent oil futures for September delivery rose 0.1 percent to $85.52 per barrel
Technology
7th Sharjah Investment Forum to explore AI-driven opportunities and global economic trends on 18-19 September
Organized by Invest in Sharjah, the forum will take place under the theme “A Futuristic Vision for Smart Economies”
Economy
Fitch upgrades Etihad Airways to ‘A+’ citing stronger standalone credit profile
The outlook on the Issuer Default Rating is stable, the report noted
Hospitality & Tourism
Air Arabia expands Europe footprint with new Sharjah-Vienna route
The new service will commence operations on December 20, 2024, with a frequency of 4 non-stop weekly flights
Real Estate
Saudi Arabia’s Diriyah Company signs $2 billion development contract to develop new mixed-use district
The project involves the construction of advanced educational institutions, cultural venues, modern offices, and a luxury hotel
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