economy

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

Türkiye’s economic growth falls to 2.5 percent in Q2 2024 amid rising interest rates

Growth is stabilizing, the current account deficit is narrowing, risk premiums are down, says minister

Sharjah Airport welcomes first flights of Saudi Arabia’s flynas, boosting international connectivity in the UAE

flynas will operate seven weekly flights from Jeddah and two from Madinah to Sharjah Airport, using Boeing 737s

Sharjah Summer Promotions 2024 concludes with over $190 million in sales

Ceremony also featured the distribution of valuable gifts and an AED3 million prize pool awarded to over 200 winners

UAE-China Think Tank Forum in Beijing explores cooperation in trade, education and culture

Forum provides a platform for collaboration and dialogue between think tanks in both countries to explore opportunities for joint academic projects

UAE approves consolidated financial statistics for 2023 with $39.2 billion government surplus 

Last year, the country attracted a record $30.49 billion in foreign direct investment, ranking second globally

SIF 2024 to launch on September 18, feature insights from industry experts on AI and business growth

Chris Do, Grant Cardone, Vusi Thembekwayo, and Aman Gupta among 80 industry leaders participating at the event

Algeria joins BRICS New Development Bank: A new era in economic collaboration

By joining the BRICS financial branch, Algeria is advancing its global financial integration

UAE gold prices ease, global rates dip as traders await U.S. economic data

Gold prices may rally if reports signal a weaker economy and the Fed considers a larger rate cut

Oil prices plummet amid China’s economic slowdown, ongoing Libyan supply issues

Brent crude futures had fallen by 37 cents, or 0.48 percent, settling at $77.15 a barrel

Bahrain: Multinational enterprises required to pay new 15 percent minimum tax on profits starting January 1, 2025

This new framework for MNEs is fully in line with the guidelines set by the OECD

UAE to host major global events in September: All you need to know

The DIFC will host the inaugural Dubai AI & Web3 Festival on September 11-12 at Madinat Jumeirah

QatarEnergy to double urea production to 12.4 million tons by 2030

QatarEnergy plans to build a large urea production complex to boost global food and energy security

Moody’s upgrades Oman’s outlook to positive, citing improved debt metrics and strong fiscal management

The agency also retained its (P)Ba1 rating for the Government of Oman’s senior unsecured medium-term note program

UAE oil imports to Japan reach 31.07 million barrels in July 2024, 49.1 percent of total

Arab oil made up 97.8 percent of Japan's imports, totaling 61.92 million barrels

Kuwait Warba Bank’s $500 million sukuk issuance on London Stock Exchange draws $1.8 billion in 3.5x demand

These five-year sukuk support projects advancing ESG goals aligned with sustainability objectives

Dubai RTA opens two new major bridges on Al Khail Road, travel time to be cut by 30 percent

These newly completed bridges stretch 1,350 meters and can accommodate approximately 8,000 vehicles per hour

DP World’s Jebel Ali sets new record with 1.4 million TEUs in July 2024

In H1 2024, the port handled 7.3 million TEUs, a 3.9 percent YoY increase