Economics

UAE gold prices up AED1.5, global rates hit record high ahead of Fed decision

The Fed is expected to maintain interest rates at 4.5 percent amidst economic uncertainty

MBRGI commits $599 million to support 149 million people globally

H.H. Sheikh Mohammed bin Rashid chaired MBRGI Board of Trustees meeting

Trump, Sheikh Tahnoon discuss strengthening UAE-U.S. ties in key sectors

Both parties explored long-term collaboration opportunities in AI, healthcare, and industrial development

Oil prices dip to $70.25 on oversupply fears after Russia-Ukraine truce

Investors are cautious ahead of the Fed meeting, expecting rates to remain unchanged

Kuwait, China establish framework agreement for renewable energy technology

The agreement was the result of six months of negotiations and aims to enhance cooperation at all levels

Global GDP growth to slow from 3.2 percent in 2024 to 3.0 percent by 2026: OECD

OECD warned that increased trade restrictions will hurt global economic performance and raise inflationary pressures

Saudi Arabia’s IsDB commits over $1.4 billion to advance development goals across eight member countries

Approved projects in food security, health, education, and transportation support achieving the SDGs

U.S. Bitcoin ETFs record $5.4 billion in outflows in five weeks

Bitcoin has dropped 21 percent over the last three months

Air Arabia shareholders approve 25 percent dividend after $435.6 million profit before tax

In 2024, Air Arabia added 31 new routes from its hubs in the UAE, Morocco, Egypt, and Pakistan

Kuwait central bank issues bonds valued at $792 million

The issuance is valid for three months, at an income rate of 4.125 percent

ADNOC Drilling greenlights $788 million 2024 dividend, boosts AI-driven expansion

The final shareholder-approved cash dividend payment for 2024 amounts to $394 million

UAE gold prices surge AED2.25, global rates climb over $3,000 on tariff fears

Increased geopolitical tensions in the Middle East heightened the demand for safe havens