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Economy Middle East Summit 2025
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Economy Middle East Summit 2025
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economy
Banking & Finance
Brands For Less sells 35 percent stake to TJX for $360 million
This transaction values BFL at $1.2 billion
Energy
Oil prices weaken on U.S. labor data, demand outlook uncertain
Brent oil futures fell 0.1 percent to $75.95 a barrel
Economy
Qatar’s economy to double by 2031 fueled by LNG boom, diversification: Report
Qatar's gas production will stay steady for 140 years before a major boom
Banking & Finance
Kuwaiti banks turn to M&A amidst strong fundamentals: Report
The paper noted that banks in Kuwait have strong capital and liquidity despite growth constraints
Bahrain
Aluminum and iron ore drive Bahrain’s $894.31 million export surge in July 2024
China emerged as the leading import partner, contributing BHD73 million (16 percent) to Bahrain's import basket
Banking & Finance
UAE’s top banks post strong Q2 2024 growth on higher profits, improved asset quality: Report
Banks saw a 3.2 percent rise in loans and advances, outpacing the 0.4 percent growth in deposits
Bahrain
Abu Dhabi Chamber sees 23.8 percent year-on-year growth in certificates of origin
This growth underscores the chamber's efforts to boost trade opportunities and enhance the UAE's international trade footprint
Economy
Abu Dhabi’s hotel revenue soars to $865.79 million in first five months of 2024, welcoming 2.4 million guests
By the end of May, Abu Dhabi boasted 169 hotel establishments, offering a total of 34,079 rooms
Miscellaneous
UAE’s ADQ, ne’ma join forces to combat food waste from farm to table
ne'ma aims to reduce food loss and waste by 50 percent by 2030, in line with U.N. Sustainable Development Goal 12.3
Banking & Finance
Qatar Airways acquires 25 percent stake in Airlink, expanding African reach
Qatar Airways will expand its reach to 45 destinations across 15 African countries
Energy
Oil prices slide on rising U.S. inventories, easing Middle East tensions
Brent crude futures declined by 0.1 percent, settling at $77.11 per barrel
Banking & Finance
UAE banks add 15 ATMs in Q1 2024, reaching 4,669
This growth is driven by technological advancements and changes in the financial sector, leading to greater security and efficiency
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