economy

Rising bank credit demand in the UAE amid positive economic outlook, says Central Bank

In Q2, demand for trade credit remained strong, with a greater appetite for lending 

Saudi Arabia cancels hotel licensing fees to boost tourism investment 

This change, effective September 4, aims to position the Kingdom as a global tourism leader

UAE’s ADNOC launches inaugural $4 billion notes offering under GMTN Program

The net proceeds from this issuance will be utilized by ADNOC Group for general corporate purposes.

GCC banks well positioned to continue strong run in 2024: Report

The report stated that high interest rates kept profit margins at 2.7 percent, with strong bank profitability in H1

Abu Dhabi set to host AIM Congress 2025 in April

The event will address economic challenges through collaborative investment strategies

Dubai to welcome 22 floors of sustainable luxury living with $54.4 million upcoming residential development

Loutraki International is investing in Dubai’s real estate market through the Santorini Residences project

Saudi Arabia and Türkiye central banks sign MoU to enhance economic cooperation, financial stability 

The central banks will share expertise and resources to address challenges and boost economic development

Softlogic partners with Daikin to advance UAE’s commercial air conditioning industry

The partnership is formed amidst a booming UAE air conditioning market worth over $650 million, driven by real estate growth

Oil prices gain slightly as OPEC weighs output delay amid falling U.S. stockpiles

Brent crude futures for November rose by 15 cents, or 0.1 percent, to $72.85

Dubai welcomes 10.62 million international tourists in first 7 months of 2024

Western European countries topped the list of tourists to Dubai, with about 2.086 million visitors