Economics

Oil prices rise as U.S. stockpiles shrink, Fed rate cut bets grow

Brent crude oil futures for the October delivery rose 0.5 percent to $81.09 per barrel

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