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economy
Qatar
Qatar real estate sector sees 285 deals worth $304.1 million in June 2024
A recent report projected the country's real estate sector to reach QAR155.7 billion by 2028
Markets
Oil prices rise on larger-than-expected U.S. inventory draw, offsetting distillate stockpile build
Brent crude futures rose 0.2 percent to $84.84 per barrel
Economy
Egypt’s economic reforms boost remittances: 26.6 percent monthly rise to $2.7 billion in May 2024
The remittances in May 2023 amounted to around $1.6 billion, as reported by CBE
Economy
E-commerce in Saudi Arabia sees 17.47 percent surge with 40,697 new records in Q2 2024
Riyadh topped the regions in Saudi Arabia for issuing e-commerce records, with 16,535 commercial records
Logistics
Dubai Chambers, VFS Global to accelerate global expansion of local companies, boost trade development
The deal facilitates global expansion of Dubai firms by reducing entry barriers and enabling quicker access to opportunities
Miscellaneous
Mohammed Bin Rashid Library to host first Dubai International Library Conference 2024 from 15-17 November 2024
Discussions will include the preservation and restoration of archives, AI, intellectual property, copyright laws
Economy
UAE work permit cancellation to take just 45 seconds with zero documents
The new process eliminates the previous requirement of two documents
Banking & Finance
UAE-based startups lead MENA region in funding in June, securing $82.5 million across 15 deals
MENA startups raised $116 million in June 2024, bringing H1 total to $882 million
Hospitality & Tourism
Saudi’s flynas launches first direct flight between Riyadh and Egypt’s El-Alamein
flynas already connects Egypt to Saudi Arabia with more than 120 weekly direct flights
Miscellaneous
UAE doubles passport validity to 10 years for citizens aged 21 and above
The move aims to reduce bureaucracy and save time for citizens
Markets
Oil prices stabilize as market monitors tropical storm Beryl, geopolitical developments
Brent oil futures for September delivery hovered around $85.72 per barrel
Economy
Oman’s Q1 2024 GDP rises to $27.15 billion driven by non-oil sector growth
This growth was driven by a surge in non-oil activities, which recorded a value of OMR7.18 billion
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