Economics

Oil prices edge lower but set for weekly gains on U.S. optimism

Brent crude futures, expiring in October, fell 0.1 percent to $80.94 a barrel

Growing GCC interest drives $3.66 billion real estate market in Oman

The number of properties registered to GCC citizens surged by 5.2 percent to 666, compared to 633 in 2023 

Container volumes fuel $9.33 billion revenue for DP World in H1 2024

The port operator invested $994 million in capital expenditures during the period

What does Egypt’s new carbon market mean for the future of climate finance?

The move is a step towards a mandatory market, requiring carbon reduction projects and emissions calculations

UAE IPOs surge in Q2 2024, raising $890 million: Report

Sharia-compliant financial products are in high demand, with Sukuk issuances exceeding $10 billion in Q2

Abu Dhabi’s Etihad Cargo’s strategic expansion drives 17 percent tonnage growth in H1 2024

The company has experienced remarkable growth, especially in the East, with a 19 percent increase in tonnage

Abu Dhabi Bayanat’s smart solutions power strong H1 2024 with $74.32 million revenue

The company's gross profit for H1 2024 reached $22.86 million, translating to a gross margin of 31 percent

SIF 2024 in September to highlight youth and women’s participation in the smart economy

The event seeks to leverage AI to enhance public services, health, and education

Oil prices rise as U.S. stockpiles shrink, Fed rate cut bets grow

Brent crude oil futures for the October delivery rose 0.5 percent to $81.09 per barrel

UAE nationals receive $691.53 million in home construction tax refunds from FTA

This covers the period since the service was launched and until the end of the first half of 2024

UAE’s diversified economy maintains robust growth in real estate, tourism, and manufacturing: OPEC

OPEC reported that the housing, utilities, and fuels sector rose to 6.7 percent YoY in June, up from 6.6 percent in May

Oil prices decline as OPEC lowers 2024 demand forecast amid China slowdown

Global benchmark Brent crude futures dipped 78 cents, or 0.95 percent, to $81.52 a barrel

Türkiye enters ‘disinflation’ as CBRT hikes rates to 50 percent, 2024 inflation forecast at 38 percent

CBRT governor cited $26.5 billion increase in reserves, 50 percent target for lira deposits amid global volatility

Egypt targets sub-10 percent inflation by 2025-2026 as CAPMAS data shows easing price pressures

The country’s annual urban consumer price inflation slid to 25.7 percent in July from 26.5 percent in June

Fueled by oil prices, government spending, Saudi banks poised for continued success: Report

The operating environment score for the sector has been rated 'bbb+' 

Egypt’s overseas workers send home $7.5 billion in Q2 2024, signaling success of IMF-inspired currency reform

Before the March reforms, the pound was officially pegged at 30.85 to the U.S. dollar, but traded as low as 74 on the black market

Oil prices inch higher amid tightening U.S. supplies, potential Middle East disruptions

Brent crude futures rose 23 cents, or 0.3 percent, to $78.56 per barrel

Oil prices slide on bearish inventory data, persistent global economic slowdown fears

Brent crude oil futures for October delivery fell 0.5 percent to $76.13 per barrel

Bahrain’s economy posts solid 3.3 percent growth, lifting Q1 2024 GDP to $9.55 million

The oil sector grew by 3.4 percent and the non-oil sector by 3.3 percent at constant prices