Economics

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

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

Qatar reports $711.58 million budget surplus on $16.39 billion total revenues for Q2 2024

The surplus was directed towards reducing public debt, and therefore there is no cash surplus

G20 pushes for great fortunes tax to fund climate disaster preparedness 

The G20 DRRWG meeting focused on the critical importance of financing for resilient infrastructure and early disaster risk warnings

Oil price rallies amid Middle East tensions and OPEC+ meeting, China concerns linger

Brent oil futures expiring in October rose 0.5 percent to $81.24 a barrel

Saudi Arabia’s foreign assets rise 5.5 percent to $467.5 billion in June 2024

Data showed that the bank's net foreign assets in June were around SAR1.670 trillion

UAE-Chile CEPA set to take effect in six months, promises $73 million national economic boost by 2031: Al Zeyoudi

The agreement aims to liberate trade between both countries, empower women in commerce

DIFC sees rapid expansion, adds 820 companies in H1 2024, AUM reaches $700 billion

Over 370 wealth and asset management firms, including more than 50 pure-play hedge funds, are now based in the Centre

Oman to expand LNG production capacity to 15.2 million tons per year with new 3.8 million ton train

LNG production trains allow the government to improve operational efficiency, maximize the use of existing facilities

IMF completes third review for extended arrangement with Egypt, approves $820 million disbursement

The decision follows a positive economic assessment since the program's launch in December 2022

Dubai Financial Market announces 74 percent rise in pre-tax net profit to $53.19 million in H1 2024

The first half of 2024 saw a surge in trading activity, higher trade values, and an influx of new investor

Oil prices slide to two-month low ahead of OPEC meeting, Fed policy decisions

Brent oil futures expiring in September fell 0.2 percent to $79.63 per barrel