Skip to main content Skip to footer ![Saudi Arabia and Türkiye central banks sign MoU to enhance economic cooperation, financial stability](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/09/SAMA-TCMB-1.jpeg/w=1024,h=683)
The central banks will share expertise and resources to address challenges and boost economic development
![Oil prices gain slightly as OPEC weighs output delay amid falling U.S. stockpiles](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/09/Oil-prices-1-1.jpg/w=1024,h=682)
Brent crude futures for November rose by 15 cents, or 0.1 percent, to $72.85
![National banks in the UAE invest $1.19 billion in local stock markets in 12 months: CBUAE](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/09/UAE-Banks-stock-market-CBUAE.jpg/w=1024,h=684)
By the end of May, these banks had elevated their equity investments to AED16.1 billion
![Abu Dhabi’s Masdar’s $1 billion green bond issuance drew $4.6 billion in demand, oversubscribed 4.6x](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/09/ADX-Masdar.jpg/w=1024,h=684)
In July 2024, Masdar successfully raised $1 billion through its green bond issuance under its Green Finance Framework
![Dubai RTA completes 4.6 km Umm Suqeim improvement project, reducing traffic by 40 percent during peak hours](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/09/RTA-Umm-Suqeim.jpg/w=1024,h=684)
The authority launched 200 new temporary parking slots and a 500-meter roadway
![Türkiye’s inflation drops to 51.97 percent in August 2024 as disinflation continues](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/09/Turkiye-inflation.jpg/w=1024,h=684)
Consumer price inflation (CPI) rose 2.47 percent in August, driven by higher gas prices
![Italy’s Saipem secures $1 billion in two major offshore contracts with Saudi Aramco](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/09/Aramco-Saipem.jpg/w=1024,h=683)
Saipem will be responsible for the EPCI three production deck modules, 33 km of subsea pipelines, and 34 km of power cables
![UAE, Kuwait strengthen bilateral ties with MoUs on standardization, infrastructure, and cybersecurity](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/09/Kuwait-UAE-MoUs.jpg/w=1024,h=682)
Other notable agreements included collaboration in communications and information technology
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Brent Oil Futures fell by 4.9 percent, closing at $73.75 per barrel
![Abu Dhabi’s Yahsat approves interim dividend of $55.79 million for H1 2024](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/09/Yahsat.jpg/w=1024,h=683)
Dividends will be distributed to shareholders registered by the end of the business day on September 12
![Travel industry set to add record $11 trillion to global GDP in 2024](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/09/Travel-GDP.jpg/w=1024,h=684)
The industry's contribution to global GDP is expected to rise by 12.1 percent year-over-year
![Türkiye’s economic growth falls to 2.5 percent in Q2 2024 amid rising interest rates](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/09/Turkiye-economy.jpg/w=1024,h=684)
Growth is stabilizing, the current account deficit is narrowing, risk premiums are down, says minister