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Economics
Economy
UAE’s MoEI, EtihadWE launch initiative to boost renewable energy adoption in Northern Emirates
Northern Emirates residents can now harness energy with rooftop solar panels
Banking & Finance
ADGM, DMT sign MoU to transfer real estate services on Al Reem Island
The agreement clarifies roles for smooth transition of Al Reem Island Real Estate from DMT to ADGM
Economy
Middle East set to achieve $75.6 billion in renewable energy investments: Report
These investments encompass 116 renewable energy are expected to become operational between 2025 and 2030
Banking & Finance
Bank investments in monetary bills, Islamic CD reach $61.7 billion by end of Q2 2024, says CBUAE
Investments in Shariah-compliant CDs hit $11.95 billion during this period
Economy
Oil prices fall as Fed meeting nears, driven by surprising U.S. inventory build and supply disruptions
Brent oil futures decreased by 0.4 percent, settling at $73.41 a barrel
Banking & Finance
UAE’s National Bank of Fujairah issues Additional Tier 1 capital securities at $275 million
This initiative aims to enhance capital structure and refinance $350 million in existing AT1 securities
Banking & Finance
Kuwait Central Bank issues bonds, tawarruq worth $792 million
These issuances have a maturity period of three months, with a yield of 4.375 percent
Bahrain
Saudi Maaden, Bahrain’s Alba ink non-binding deal to explore potential business merger
This collaboration aims to generate synergies that boost production, ESG performance, energy security, and shareholder value
Banking & Finance
Saudi-Egyptian investment protection deal to launch in two months, says PM Madbouly
The trade between Saudi Arabia and Egypt surpassed $33 billion during 2022 and 2023
Economy
Saudi Crown Prince and Egyptian Prime Minister discuss bilateral relations, aspects of cooperation
Several prominent figures from both sides were in attendance at the meeting
Economy
Oil prices see modest gains amid rate cut speculations, Hurricane Francine’s supply impact
Brent crude futures set to expire in November climbed 0.2 percent to $72.88 per barrel
Economy
UAE’s investment in clean energy reaches over $12.25 billion, says minister Al Mazrouei
The country has significantly increased its clean energy share to 27.83 percent in 2023, aiming for 32 percent by 2030
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