Economics

UAE and Morocco finalize CEPA to boost goods and services trade through tariff cuts, regulatory reforms

In 2023, the two nations had $1.3 billion in non-oil trade, a 30 percent increase from 2022 and 83 percent more than in 2019

Oil prices steady on strong U.S. GDP, but headed for third weekly losses

Brent oil futures expiring in September were stable at $82.38 per barrel

Egypt’s economy growth to rebound to 4.99 percent in 2025/26 amid policy tightening 

The country’s growth is projected at 4 percent for FY 2024/2025

Kuwait’s real estate market reports $300.86 million in transactions, 14 percent rise week-over-week

The surge is equivalent to an additional KWD13 million compared to the previous week's trading value of KWD79 million 

Egypt sets sights on $5 billion investment goal with India by 2027

Through renewable energy, green hydrogen, and engineering initiatives

Oil prices slip amid concerns over China’s demand, pending U.S. economic data

Brent crude futures for September delivery slipped 0.5 percent to $81.26 per barrel

Dubai consolidates position as global business events hub, winning 175 bids in H1 2024

This marks a 24 percent increase compared to the same period last year

Kuwait sees deficit of $5.23 billion in FY 2023/24 despite non-oil revenue growth

The country's total revenue in fiscal year 2023-2024 was KWD23.645 billion

Türkiye terminates $5 billion deposit with Saudi Arabia to reduce external debt

The $5 billion deposit was made by Saudi Arabia before Türkiye's presidential and parliamentary elections last year

UAE announces $216.31 million in pension payments for July 2024, benefiting 48,199 pensioners

This marks an increase compared to July 2023, when AED711,323,785.25 was allocated to 46,835 recipients

UAE, Indonesia to boost cooperation in public finance, debt management, and climate finance

The two countries enjoy thriving bilateral trade, with $4 billion in volume in 2023