economy

Saudi Aramco signs MoUs to collaborate on advanced AI, supercomputing solutions 

Aramco has also launched initiatives to enhance advanced digital solutions in its operations 

Qatar, Armenia formalize agreement to strengthen labor sector cooperation

This agreement aims to attract skilled workers, boost their local presence 

OPEC highlights UAE’s robust non-oil sector driven by consumer and business recovery

The report indicates that Dubai attracted 10.62 million international visitors from January to July 

UAE’s DMCC launches AI Centre to propel global AI solutions

The AI Centre will be part of a newly integrated hub that also includes the DMCC Crypto Centre and DMCC Gaming Centre

Abu Dhabi Crown Prince wraps up visit to India, reinforces bilateral bonds

Sheikh Khaled emphasized the robust historical, social, and economic connections that the two nations share

Oil prices rebound as tropical storm Francine raises concerns over supply disruptions amidst mixed demand signals

Brent crude futures increased by 39 cents, or 0.6 percent, reaching $69.58 a barrel

Crypto fraud losses surge to over $5.6 billion in 2023, 45 percent increase from 2022: Report

Scammers have increasingly taken advantage of the swift and irreversible characteristics of digital asset transactions, says FBI

Dubai South grants $40.83 million construction contract for ‘South Living’ project

The project is set for completion by Q1 2027, with 209 units, including studios and 1- to 3-bedroom apartments 

Abu Dhabi’s ADQ launches Q Mobility to improve transportation services in Abu Dhabi

The initiative focuses on sustainable and integrated solutions to support the Emirate's growth 

Oman Central Bank issues treasury bills worth $77.93 million

The bills have a maturity period of 28 days amounted to OMR300,000, with an average acceptable price of OMR99.650 

Saudi Arabia’s Citizen Account deposits $906.2 million into 10.8 eligible beneficiaries’ accounts in September

Deposits will continue until today end of day, and beneficiaries can check their amounts in the program's app

QatarEnergy to build 6 new QC-Max LNG vessels at China’s Hudong-Zhonghua Shipyard

The QC-Max vessels are the largest LNG carriers, each with a 271,000 cubic meter capacity 

Kuwait Central Bank issues bonds, tawarruq worth $792 million

On August 19, KCB announced a similar allocation of bonds and tawarruq for three months at the same value and return rate 

Dubai’s dnata secures multi-year ground handling agreement with EasyJet at Zurich Airport

dnata will provide a full range of safe and reliable passenger, ramp, and baggage services for the low-cost airline

UAE’s ADNOC to supply LNG to Indian Oil Corporation for 15 years

The LNG will primarily be sourced from ADNOC's Ruwais LNG project

Abu Dhabi Crown Prince in India: Discussing bonds of friendship and cooperative ties with President Murmu

Sheikh Khaled signed the guestbook at Rashtrapati Bhavan, highlighting the historical UAE-India friendship

Oil prices face pressure from sluggish Chinese demand, anticipated supply challenges from tropical storm Francine

Brent crude futures fell by 4 cents, or 0.06 percent, settling at $72.80 a barrel

Unlocking MENA’s thriving investment opportunities at the EFG Hermes 10th Annual London Investor Conference

Leaders will convene from September 9 to 12 to discuss innovations in capital markets and regulatory developments

Microsoft and partners to generate $24 billion in Saudi Arabia over next four years, says IDC study

Microsoft’s partner ecosystem will earn roughly $8 for every $1 of revenue generated by Microsoft’s cloud services

Oman’s Salalah Free Zone draws $11.95 billion in investment by June 2024

In H1 2024, the Salalah Free Zone added 13 projects in frankincense, packaging, air conditioning, and textiles

Central Bank of Egypt forecasts easing inflation amid continued maintenance of interest rates

The MPC noted that domestic real GDP growth had moderated to 2.2 percent in the first quarter of 2024

Saudi private sector employment surges to over 11.5 million workers in August 2024

The number of residents employed in the private sector stood at 9,202,580, with 8,812,758 men and 389,822 women

UAE, Egypt strengthen economic ties in key sectors at Arab Economic and Social Council meeting

The UAE is the top Arab investor in Egypt and the third largest globally