economy

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

National banks in the UAE invest $1.19 billion in local stock markets in 12 months: CBUAE

By the end of May, these banks had elevated their equity investments to AED16.1 billion

Abu Dhabi’s Masdar’s $1 billion green bond issuance drew $4.6 billion in demand, oversubscribed 4.6x

In July 2024, Masdar successfully raised $1 billion through its green bond issuance under its Green Finance Framework

Dubai RTA completes 4.6 km Umm Suqeim improvement project, reducing traffic by 40 percent during peak hours

The authority launched 200 new temporary parking slots and a 500-meter roadway

Türkiye’s inflation drops to 51.97 percent in August 2024 as disinflation continues

Consumer price inflation (CPI) rose 2.47 percent in August, driven by higher gas prices

Italy’s Saipem secures $1 billion in two major offshore contracts with Saudi Aramco

Saipem will be responsible for the EPCI three production deck modules, 33 km of subsea pipelines, and 34 km of power cables

UAE, Kuwait strengthen bilateral ties with MoUs on standardization, infrastructure, and cybersecurity

Other notable agreements included collaboration in communications and information technology

flynas launches inaugural flight at Zayed International Airport, linking Saudi Arabia and UAE with affordable travel

This new route will benefit business and leisure travelers, boosting tourism and trade between the two countries

UAE gold prices rise, global rates up as market awaits U.S. payrolls data

So far this year, gold prices have gained over 29 percent, rising to a record high of $2,531.60 on August 20

Oil prices decline amid potential return of Libyan supply to the market

Brent Oil Futures fell by 4.9 percent, closing at $73.75 per barrel

Abu Dhabi’s Yahsat approves interim dividend of $55.79 million for H1 2024

Dividends will be distributed to shareholders registered by the end of the business day on September 12

Travel industry set to add record $11 trillion to global GDP in 2024

The industry's contribution to global GDP is expected to rise by 12.1 percent year-over-year