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Economics
Markets
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
Banking & Finance
UAE Central Bank’s gold reserves surge 19.7 percent YoY in May 2024 to $5.61 billion
In April 2024, CBUAE's gold reserves reached $5.54 billion
Bahrain
Bahrain’s economy posts solid 3.3 percent growth, lifting Q1 2024 GDP to $9.55 million
The oil sector grew by 3.4 percent and the non-oil sector by 3.3 percent at constant prices
Banking & Finance
Saudi Arabia’s non-oil sector maintains solid growth in July, PMI at 54.4 amid competitive dynamics
The start of Q3 saw both output and new orders expand to a lesser degree
Banking & Finance
Türkiye inflation eases for second month to 61.78 percent in July 2024, but policymakers remain vigilant
Challenges remain in education, housing, and hotels
Economy
Billion-dollar losses: What’s behind the unprecedented stock market collapse?
Can the Fed intervene to calm global markets?
Banking & Finance
UAE gross bank assets surge over 10.8 percent to $1.16 trillion in May 2024
Gross credit grew 0.7 percent from AED2.063 trillion in April 2024 to $565.47 billion
Energy
China’s maritime economy generates $678.55 billion in H1 2024, up 5.6 percent YoY
The sea area designated for use grew by 16.9 percent YoY, with ¥500 billion in projects
Banking & Finance
UAE and Azerbaijan deepening cooperation, unlocking opportunities in trade, tourism, and renewable energy
The two countries agreed to develop economic partnership
Markets
Oil prices head for fourth week of losses as demand worries outweigh supply risks
Brent oil futures for October delivery rose 0.4 percent to $79.84 per barrel
Bahrain
GCC, Indonesia initiate talks for comprehensive deal to boost trade and investment
The proposed agreement aims to enhance cooperation, streamline investment regulations, and create new jobs
Banking & Finance
Dubai Financial Market sees spike in new investor accounts, up 85 percent to 56,345
The growth is due to strong investor interest in recent high-profile listings like Parkin and Spinneys
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