Economics

Kuwait’s inflation slows to 2.8 percent in June, lowest since 2020, as food and rent costs cool

Price rises in the food & beverages sub-component eased to a still-elevated 5.6 percent down from 6.1 percent in May

Egypt’s external debt dips 8.4 percent to $153.86 billion in five months

Foreign currency inflows into the local market have jumped by about 200 percent

Surge in demand for industrial and logistics assets reaches 185 percent in Dubai, Abu Dhabi: Report

The Jebel Ali Industrial Area Second Category saw rents jump 38.5 percent to AED36 ($9.80) per sq ft.

Dubai launches landmark $28.58 million mental health framework

The new framework features 10 key initiatives that will be launched over the next five years

Oil prices fall to 1.5-month low amid weak outlook and surplus concerns

Brent oil futures expiring in September fell 0.2 percent to $82.26 a barrel

$7.2 billion revenue at Egypt’s Suez Canal marks $2.2 billion decline amid Red Sea attacks

The canal's total tonnage fell by a third, and the number of transits declined by about 22 percent YoY

UAE and Seychelles partner to promote local currency usage, interlink payment and messaging systems

This includes developing the exchange market, facilitating bilateral trade and direct investment, and remittance settlement

UAE and global gold prices lose luster amid profit-taking, dollar strength

In the UAE, gold prices fell with 24-carat gold inching up to AED293.50 per gram

ECB keeps interest rates unchanged, ‘wide open’ on September decision

The Central Bank wants more evidence that inflation is still on track to reach the 2 percent target by the end of 2024

Egypt’s Central Bank holds key rates amidst 2.2 percent GDP growth and 27.5 percent inflation

The bank noted that "the current monetary stance is appropriate to support the sustained moderation of inflation."

Oil prices retreat amid doubts about China’s demand outlook, signaling weekly losses

Brent oil futures for September delivery shed 0.5 percent to $84.73 per barrel

Dubai’s real estate transactions surge 35.7 percent to $33.5 billion in Q2 2024: Report

The total transaction volume saw a 60.06 percent year-on-year growth, with 48,220 transactions recorded

Dubai launches sample constitution toolkit to empower family businesses

The launch of this comprehensive guide is part of the centre's efforts to provide practical support to family businesses

Oil prices rise amid declining U.S. crude inventories, Fed rate cut expectations

Brent futures, the global oil benchmark, rose 32 cents, or 0.4 percent, to $85.40 per barrel

UAE citizens can now claim VAT refunds for new home construction via new smart app

The move aims to provide the world's best government services by eliminating bureaucracy and adopting efficient models

Oman’s GDP expands 1.7 percent in Q1 2024, reaching $24.77 billion

Crude petroleum activities declined by 3.3 percent, recording OMR2.55 billion

Dubai Chambers, FTA collaborate to strengthen tax awareness among private sector

The workshop covered key taxes for UAE businesses, including Excise Tax and VAT, and the processes for tax returns

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

DIFC Courts records strong uptake of services in H1 2024, handles 480 cases worth $285.86 million

The Small Claims Tribunal (SCT) also saw strong operational capacity, with 265 claims filed, totaling AED27.2 million

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