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Economics
Markets
Oil prices edge higher on declining U.S. inventories; investors await Fed announcement and inflation data
Brent crude futures for August delivery gained 0.2 percent to $82.09 per barrel
Real Estate
UAE Cabinet approves $457.9 million housing aid package for Eid
The Cabinet also approved the launch of the "Manzili" bundle, which offers 18 housing services through 24 government entities
Logistics
Oman posts $6.7 billion trade surplus, merchandise exports reach $16.88 billion by end of March 2024
Total value of merchandise imports to the Sultanate amounted to $10.1 billion
Economy
Inflation in Egypt predicted to drop by 10 percent by end of June 2025: Report
The report cited the recent floating of the pound exchange rate and an enhanced IMF agreement
Miscellaneous
Saudi Arabia to prohibit working under the sun from 12pm to 3 pm starting June 15
The ban applies to private sector establishments and aims to protect workers from heat risks during the hottest hours
Banking & Finance
Saudi finance companies sector reports 13 percent growth in total assets, reaching $17.1 billion in 2023
The paid-up share capital for the finance companies sector increased by 6 percent to reach $4.13 billion
Miscellaneous
UAE launches Phase 2 of ’Work Bundle’, simplifies work with digital platform, cutting 25 million steps, 2 million visits, 62 million working days
The platform reduces procedures from 20-30 days to 5 days
Qatar
Qatar’s real estate trading volume reaches $346.41 million in May 2024
Data revealed that 322 real estate transactions were recorded during the month
Markets
Oil prices dip ahead of key Fed meeting, U.S. inflation data release
Brent crude futures fell 11 cents, or 0.13 percent, to $81.52 per barrel
Economy
UAE’s ADGM, Bermuda Monetary Authority sign MoU to boost collaboration on digital asset regulation and supervision
The framework also encompasses investigative assistance, and capacity enhancement initiatives
Banking & Finance
Sharjah rises to 4th in GCC region, 7th in MENA in 2024 Global Startup Ecosystem Rankings
Sharjah also featured in the Top 15 rankings for both the Knowledge and Performance categories
Economy
Kuwait’s robust financial assets, projected at 418 percent of GDP, underpin ‘A+’ sovereign rating, stable outlook: Report
The report highlighted the ongoing structural and financial reforms in the country
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