economy

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

Egypt maintains position as Africa’s top investment destination for second consecutive year: UNCTAD

Egypt accounted for 18.6 percent of Africa's total investments, which amounted to $52.6 billion in 2023

Kuwait announces massive oil and gas discovery estimated at 3.2 billion barrels

This discovery has raised hopes of finding additional hydrocarbons to boost the country's energy resources

Dubai’s RTA launches trials of world’s first 3D printed abra, reducing manufacturing time by 90 percent

The 3D-printed abra can carry 20 passengers and was designed to retain the traditional abra identity

ADNOC Gas awards $550 million contracts to expand UAE gas infrastructure, increase customer reach

The contracts were awarded to NMDC Energy P.J.S.C and Galfar Engineering & Contracting W.L.L Emirates

Oil prices steady amid strengthening dollar, concerns over weakening demand in China

Brent oil futures for September delivery recorded $85.10 per barrel