Economics

UAE nationals receive $691.53 million in home construction tax refunds from FTA

This covers the period since the service was launched and until the end of the first half of 2024

UAE’s diversified economy maintains robust growth in real estate, tourism, and manufacturing: OPEC

OPEC reported that the housing, utilities, and fuels sector rose to 6.7 percent YoY in June, up from 6.6 percent in May

Oil prices decline as OPEC lowers 2024 demand forecast amid China slowdown

Global benchmark Brent crude futures dipped 78 cents, or 0.95 percent, to $81.52 a barrel

Türkiye enters ‘disinflation’ as CBRT hikes rates to 50 percent, 2024 inflation forecast at 38 percent

CBRT governor cited $26.5 billion increase in reserves, 50 percent target for lira deposits amid global volatility

Egypt targets sub-10 percent inflation by 2025-2026 as CAPMAS data shows easing price pressures

The country’s annual urban consumer price inflation slid to 25.7 percent in July from 26.5 percent in June

Egypt’s overseas workers send home $7.5 billion in Q2 2024, signaling success of IMF-inspired currency reform

Before the March reforms, the pound was officially pegged at 30.85 to the U.S. dollar, but traded as low as 74 on the black market

Oil prices inch higher amid tightening U.S. supplies, potential Middle East disruptions

Brent crude futures rose 23 cents, or 0.3 percent, to $78.56 per barrel

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

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

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

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

Oil prices head for fourth week of losses as demand worries outweigh supply risks

Brent oil futures for October delivery rose 0.4 percent to $79.84 per barrel

GCC, Indonesia initiate talks for comprehensive deal to boost trade and investment

The proposed agreement aims to enhance cooperation, streamline investment regulations, and create new jobs

Dubai Financial Market sees spike in new investor accounts, up 85 percent to 56,345

The growth is due to strong investor interest in recent high-profile listings like Parkin and Spinneys

Qatar reports $711.58 million budget surplus on $16.39 billion total revenues for Q2 2024

The surplus was directed towards reducing public debt, and therefore there is no cash surplus

G20 pushes for great fortunes tax to fund climate disaster preparedness 

The G20 DRRWG meeting focused on the critical importance of financing for resilient infrastructure and early disaster risk warnings