Economics

Oil prices steady amid mixed economic signals from China, strong U.S. retail sales data

Brent crude futures had risen by 8 cents, or 0.1 percent, to $74.53 a barrel

Oman’s OQEP raises $2 billion in IPO

Global institutional support in the Category I offering exceeded OMR1.0 billion (excluding anchors)

ADNH Catering raises $235.2 million in IPO

ADNH Catering offered 900 million shares, or 40 percent of its capital 

Oil prices modestly recover amid unexpected U.S. inventory draw, Middle East tensions

Brent crude futures for December delivery increased by 0.6 percent to $74.67 per barrel

ADQ, Bank Audi sign definitive agreement to acquire 96 percent of Odea Bank

This move would accelerate Odeabank’s growth and drive tech advancements in financial services

DP World secures 47,000 TEUs to enhance capacity and customer experience

This acquisition reflects its dedication to offering customers dependable and efficient equipment

Expand North Star 2024 draws 65 unicorns valued at $400 billion

CEOs of unicorns noted that Dubai is an ideal gateway for launching global digital initiatives

Oil prices recover modestly amid Middle East stability concerns, weak demand

Brent crude futures for December delivery rose zero point four percent to $74.55 per barrel

AWS and e& sign $1 billion agreement to enhance cloud solutions, support AI for digital transformation

The focus will be on cloud services like storage, computing, networking, cybersecurity, and AI/ML advancements

RAK Properties collaborates with Commercial Bank of Dubai on $544.5 million financing agreement

The funding will support RAK Properties' projects, including luxury hotels and residential communities in Mina Al Arab

Expand North Star 2024: Dubai Chamber of Digital Economy highlights emirate’s business environment advantages

The emirate is fostering digital companies, boosting its reputation as a global digital economy capital

Saudi Arabia, Egypt ink maritime connectivity agreement to enhance passenger transport and expertise exchange

The collaboration areas include yacht and marine passenger transport, plus passenger ferries