economy

MBRGI commits $599 million to support 149 million people globally

H.H. Sheikh Mohammed bin Rashid chaired MBRGI Board of Trustees meeting

Trump, Sheikh Tahnoon discuss strengthening UAE-U.S. ties in key sectors

Both parties explored long-term collaboration opportunities in AI, healthcare, and industrial development

Oil prices dip to $70.25 on oversupply fears after Russia-Ukraine truce

Investors are cautious ahead of the Fed meeting, expecting rates to remain unchanged

GCC banking sector poised for growth in 2025 on strong capital levels

Banks in the UAE will maintain robust growth in their lending activities, bolstered by relaxed monetary policies and a favorable economic environment

Kuwait, China establish framework agreement for renewable energy technology

The agreement was the result of six months of negotiations and aims to enhance cooperation at all levels

Global GDP growth to slow from 3.2 percent in 2024 to 3.0 percent by 2026: OECD

OECD warned that increased trade restrictions will hurt global economic performance and raise inflationary pressures

Saudi Arabia’s IsDB commits over $1.4 billion to advance development goals across eight member countries

Approved projects in food security, health, education, and transportation support achieving the SDGs

U.S. Bitcoin ETFs record $5.4 billion in outflows in five weeks

Bitcoin has dropped 21 percent over the last three months

GCC economic growth to rise to 4 percent in 2025 despite trade headwinds: ICAEW

Gradual oil output hikes in the GCC region will generate oil-sector growth of 3.2 percent this year, following two years of contraction

Air Arabia shareholders approve 25 percent dividend after $435.6 million profit before tax

In 2024, Air Arabia added 31 new routes from its hubs in the UAE, Morocco, Egypt, and Pakistan

Kuwait central bank issues bonds valued at $792 million

The issuance is valid for three months, at an income rate of 4.125 percent

ADNOC Drilling greenlights $788 million 2024 dividend, boosts AI-driven expansion

The final shareholder-approved cash dividend payment for 2024 amounts to $394 million