business

UAE’s ADIB releases comprehensive ESG report, highlights $1.51 billion in sustainable finance and net zero commitments

The bank reduced Scope 1 emissions by 65 percent compared to 2022 and set 2030 emissions reduction targets for six portfolio sectors

Dubai’s Q2 residential real estate market soars with 35,310 transactions and 20.5 percent YoY growth

The surge was driven by the rising popularity of customizable units and stable investment returns

Oil prices hold near two-month high as inventory draw offsets hurricane worries, dollar weakness

Brent crude futures for September delivery rose 0.2 percent to $86.41 per barrel

U.S. manufacturing PMI slips below 50 in June as demand remains subdued

This marked the 19th contraction in the manufacturing sector over the last 20 months

UAE’s ADNOC embraces AI for sustainability, drives $500 million in savings and 1 million tons of carbon cuts

Last year, ADNOC implemented over 30 AI tools to improve the efficiency of its projects

Saudi PIF’s revenues soar 100 percent to $88.22 billion in 2023

The fund swung to a profit of $36.81 billion in 2023, after posting a loss of $15.6 billion a year earlier

Oil prices rise as demand optimism builds ahead of U.S. inventory report

Brent crude futures rose 2 percent to $86.41 per barrel

Dubai launches new mixed-use development project ‘DIFC Square’

The project will expand DIFC's real estate with offices and retail, meeting the demand for prime office space in Dubai's financial district

Saudi Arabia posts record trade surplus of over $11 billion

This represents a 36 percent increase compared to the surplus of $8.1 billion recorded last year

Bahrain’s national non-oil exports reach $838.3 million in May

Saudi Arabia ranked first among export destinations, with BD64 million (20 percent) in national origin exports

Fitch affirms UAE’s rating at ‘AA-‘; outlook stable

The agency expects non-oil growth of 4.3 percent in 2024