economy

Oman’s GDP expands 1.7 percent in Q1 2024, reaching $24.77 billion

Crude petroleum activities declined by 3.3 percent, recording OMR2.55 billion

Dubai Chambers, FTA collaborate to strengthen tax awareness among private sector

The workshop covered key taxes for UAE businesses, including Excise Tax and VAT, and the processes for tax returns

UAE’s DEWA invests $42.85 million in new 60-million gallon water reservoir in Lusaily

The new reservoir has been constructed adjacent to an existing reservoir with a capacity of 120 MIG of desalinated water

Sharjah Airport reports 8.3 million passengers in H1 2024, achieving 12.4 percent growth

The airport saw a 12.2 percent growth in aviation movements, totaling 52,702 flight operations

Oil prices stabilize amid declining U.S. reserves, slower China demand

Brent crude oil futures were down by 4 cents to $83.69 per barrel

Oman Central Bank issues T-bills worth over $80.93 million

The value of the 28-day maturity treasury bills allocated was $38.97 million

Saudi Arabia’s annual inflation rate rises to 1.5 percent in June 2024: GASTAT

Food and beverage prices increased by 1.1 percent, driven by a 6.5 percent rise in vegetable prices

UAE Central Bank’s gold holdings reach $5.54 billion by April end, up 12 percent year-on-year

Reserves increased on a monthly basis by 3.5 percent from AED19.615 billion in March 2024

ADNOC, Mubadala collaborate to cultivate Emirati talent for UAE’s sustainable future

The move aims to develop Emirati talent for crucial sectors through advanced training

DIFC Courts records strong uptake of services in H1 2024, handles 480 cases worth $285.86 million

The Small Claims Tribunal (SCT) also saw strong operational capacity, with 265 claims filed, totaling AED27.2 million

Oil prices dip amidst Chinese economic slowdown, anticipation of Fed interest rate cuts

Brent crude futures fell 21 cents, or 0.25 percent, to $84.64 per barrel

Saudi central bank launches new digital platform for streamlining government financial transactions

This initiative is part of SAMA's strategy to provide banking services to government agencies and support digital development