Economics

Gross banks’ assets surpass $1.16 trillion by end of June 2024, reports UAE Central Bank

Gross credit rose by 1.1 percent to AED2,100.9 billion by the end of June 2024

Kuwait-India non-oil trade surpassed $2 billion in 2022, says Chamber

The Chamber highlighted that Kuwait and India's relationship extends beyond business due to their historical ties

UAE’s AD Ports awards $114.34 million crane contracts to ZPMC for terminal projects in Africa

Terminals will get three Super Post-Panamax STS cranes, servicing 21 container rows over 60 meters

AI to contribute $100 billion to UAE’s GDP by 2030

The UAE is solidifying its status as a leading player in the global AI landscape, says Astra Tech founder

Oil prices surge amid hurricane Francine concerns, yet demand worries temper gains

Brent crude futures for November rose by 40 cents, or 0.6 percent, reaching $71.01 per barrel

Egypt’s annual inflation rate stands at 25.6 percent in August 2024, says CAPMAS

The general CPI rose to 231.1 points in August 2024, reflecting a monthly inflation rate of 1.9 percent  

OPEC highlights UAE’s robust non-oil sector driven by consumer and business recovery

The report indicates that Dubai attracted 10.62 million international visitors from January to July 

Abu Dhabi Crown Prince wraps up visit to India, reinforces bilateral bonds

Sheikh Khaled emphasized the robust historical, social, and economic connections that the two nations share

Oil prices rebound as tropical storm Francine raises concerns over supply disruptions amidst mixed demand signals

Brent crude futures increased by 39 cents, or 0.6 percent, reaching $69.58 a barrel

Oman Central Bank issues treasury bills worth $77.93 million

The bills have a maturity period of 28 days amounted to OMR300,000, with an average acceptable price of OMR99.650 

Saudi Arabia’s Citizen Account deposits $906.2 million into 10.8 eligible beneficiaries’ accounts in September

Deposits will continue until today end of day, and beneficiaries can check their amounts in the program's app

Kuwait Central Bank issues bonds, tawarruq worth $792 million

On August 19, KCB announced a similar allocation of bonds and tawarruq for three months at the same value and return rate