Economics

Global climate investment gap projected at $2.7 trillion annually by 2030, warns Moody’s

The report noted that investment has risen since the Paris Agreement, but reaching net zero by 2050 needs much more effort 

Oil prices surge as OPEC+ weighs production delays and U.S. gasoline stockpiles drop to two-year low

Brent crude futures, now reflecting the January contract, increased by $1.41, or 2 percent, reaching $74.22 a barrel

stc Group’s tali ventures leads $10 million investment in Series B funding for NorthLadder

This funding round was spearheaded by tali ventures, with additional contributions from the Dutch Founders Fund and Crescent Ventures

S&P predict robust growth in UAE Islamic finance driven by non-oil economy, $6.1 billion sukuk surge 

The agency notes a rise in foreign currency sukuk issuance, particularly in real estate and finance, to attract foreign investment 

FII8: Non-oil GDP now represents 52 percent of Saudi economy, Aljadaan says

The Minister noted that women's participation in the workforce has reached 35 percent, surpassing the vision's target of 30 percent 

Oil prices soar on optimism over U.S. demand, potential OPEC+ output delays

Brent crude futures were up by 47 cents, or 0.65 percent, reaching $73.02 a barrel

Egypt signs MoU with DP World to explore development of 500-acre public free zone 

This initiative aims to target key industries such as electronics, automotive, apparel, and footwear

FII8 conference explores geoeconomics and future investments

Highlighting the need for investment, development support, and strong legal frameworks to attract international investors 

UAE gold prices soar, global rates hit record high ahead of Diwali

Markets are also bracing for a series of economic indicators in the coming days 

Oil prices climb following unexpected draw in U.S. oil stocks, anticipation of key economic data

Brent oil futures for December delivery climbed 0.5 percent to $71.50 per barrel

Sheikh Mohammed approves Dubai’s largest ever budget for 2025-2027 with $82.2 billion expected revenue

For FY 2025, estimated expenditures are set at AED86.26 billion, with anticipated revenues of AED97.66 billion

Modon Holding partners with LuLu to develop retail facilities in UAE, Egypt

The two entities will identify prime retail locations, implement smart innovations, enhance logistics, and improve customer experiences