economy

UAE-Chile CEPA set to take effect in six months, promises $73 million national economic boost by 2031: Al Zeyoudi

The agreement aims to liberate trade between both countries, empower women in commerce

DIFC sees rapid expansion, adds 820 companies in H1 2024, AUM reaches $700 billion

Over 370 wealth and asset management firms, including more than 50 pure-play hedge funds, are now based in the Centre

Oman to expand LNG production capacity to 15.2 million tons per year with new 3.8 million ton train

LNG production trains allow the government to improve operational efficiency, maximize the use of existing facilities

IMF completes third review for extended arrangement with Egypt, approves $820 million disbursement

The decision follows a positive economic assessment since the program's launch in December 2022

Dubai Financial Market announces 74 percent rise in pre-tax net profit to $53.19 million in H1 2024

The first half of 2024 saw a surge in trading activity, higher trade values, and an influx of new investor

UAE, Chile CEPA to boost non-oil bilateral trade to $750 million by 2030

Deal will also likely boost the value of UAE exports by $247 million by 2030, according to official UAE estimates

Oil prices slide to two-month low ahead of OPEC meeting, Fed policy decisions

Brent oil futures expiring in September fell 0.2 percent to $79.63 per barrel

Ethereum ETFs approved: Another win for cryptocurrencies

Traditional investors can now buy Ethereum without directly dabbling in cryptos

UAE, Chile sign CEPA to boost non-oil trade through tariff cuts and eased barriers

The CEPA also seeks to establish new investment and cooperation pathways, allowing private sectors to build partnerships

G20: UAE to double digital economy’s GDP contribution to 19.4 percent with $20 billion investment

This investment signals the UAE's commitment to accelerating the growth and adoption of digital technologies across its economy

UAE and Morocco finalize CEPA to boost goods and services trade through tariff cuts, regulatory reforms

In 2023, the two nations had $1.3 billion in non-oil trade, a 30 percent increase from 2022 and 83 percent more than in 2019

Five Saudi cities shine on IMD Smart City Index 2024: Report

Smart cities in the Kingdom have relied on AI and IoT technologies to enhance quality of life

Oil prices steady on strong U.S. GDP, but headed for third weekly losses

Brent oil futures expiring in September were stable at $82.38 per barrel

Egypt’s economy growth to rebound to 4.99 percent in 2025/26 amid policy tightening 

The country’s growth is projected at 4 percent for FY 2024/2025

Kuwait’s real estate market reports $300.86 million in transactions, 14 percent rise week-over-week

The surge is equivalent to an additional KWD13 million compared to the previous week's trading value of KWD79 million 

Egypt sets sights on $5 billion investment goal with India by 2027

Through renewable energy, green hydrogen, and engineering initiatives

Saudi Arabia’s NEOM awarded $27.7 million cement supply deal with Al Jouf, Webuild

The contract duration is 41 months from the date of signing and is subject to increased quantities

Oil prices slip amid concerns over China’s demand, pending U.S. economic data

Brent crude futures for September delivery slipped 0.5 percent to $81.26 per barrel

CrowdStrike outage: Why hasn’t the issue been fixed yet?

The problem has been identified, and a fix has been issued. But why isn't everything back on track yet?

Dubai consolidates position as global business events hub, winning 175 bids in H1 2024

This marks a 24 percent increase compared to the same period last year

Kuwait sees deficit of $5.23 billion in FY 2023/24 despite non-oil revenue growth

The country's total revenue in fiscal year 2023-2024 was KWD23.645 billion