Economics

UAE approves consolidated financial statistics for 2023 with $39.2 billion government surplus 

Last year, the country attracted a record $30.49 billion in foreign direct investment, ranking second globally

SIF 2024 to launch on September 18, feature insights from industry experts on AI and business growth

Chris Do, Grant Cardone, Vusi Thembekwayo, and Aman Gupta among 80 industry leaders participating at the event

Algeria joins BRICS New Development Bank: A new era in economic collaboration

By joining the BRICS financial branch, Algeria is advancing its global financial integration

Oil prices plummet amid China’s economic slowdown, ongoing Libyan supply issues

Brent crude futures had fallen by 37 cents, or 0.48 percent, settling at $77.15 a barrel

Bahrain: Multinational enterprises required to pay new 15 percent minimum tax on profits starting January 1, 2025

This new framework for MNEs is fully in line with the guidelines set by the OECD

UAE to host major global events in September: All you need to know

The DIFC will host the inaugural Dubai AI & Web3 Festival on September 11-12 at Madinat Jumeirah

QatarEnergy to double urea production to 12.4 million tons by 2030

QatarEnergy plans to build a large urea production complex to boost global food and energy security

Moody’s upgrades Oman’s outlook to positive, citing improved debt metrics and strong fiscal management

The agency also retained its (P)Ba1 rating for the Government of Oman’s senior unsecured medium-term note program

UAE oil imports to Japan reach 31.07 million barrels in July 2024, 49.1 percent of total

Arab oil made up 97.8 percent of Japan's imports, totaling 61.92 million barrels

Kuwait Warba Bank’s $500 million sukuk issuance on London Stock Exchange draws $1.8 billion in 3.5x demand

These five-year sukuk support projects advancing ESG goals aligned with sustainability objectives