economy

Saudi Arabia’s M&A deal volume surges to $955 million in Q1 2024

The chemicals sector accounted for 52.4 percent of the total

World Bank announces $700 million in financing for Egypt

The support aims to boost Egypt's private sector, fiscal resilience, and green growth

Oil prices dip as dollar rises, investors await key inflation data

Brent oil futures expiring in August fell 0.4 percent to $84.88 a barrel

CBUAE’s gross written premiums up 18.5 percent YoY in Q1 2024 to $5.74 billion

Gross paid claims of all types of insurance plans increased by 18.3 percent YoY to AED8.4 billion in Q1 2024

Bahrain attracts record FDI inflows of $6.8 billion in 2023, with UAE as third biggest contributor

Bahrain's FDI stocks relative to GDP stood at 99.7 percent as of the end of 2023

Global FDI down 2 percent to $1.3 trillion in 2023: Report

While prospects for 2024 remain challenging, modest growth for the year remains possible

UK’s BoE leaves 5.25 percent interest rate untouched, pound weakens below 1.27 against US. dollar

Seven MPC members voted to hold the 5.25 percent rate, while two preferred a 0.25 percentage point cut to 5 percent

Oil prices hover around $85 amid global tensions, inventory shifts

Brent crude futures edged up 2 cents to $85.35 per barrel

Oil prices decline but remain on course for weekly gains amid OPEC optimism

Brent oil futures expiring in August fell 0.6 percent to $82.22 a barrel

UAE’s ADGM Academy, Ethara sign MoU to develop next-gen Emirati talent

ADGMA and Ethara aim to establish an educational hub that will develop comprehensive training programs

Oil prices dip amid rising U.S. inventories as Fed keeps interest rates steady

Brent oil futures expiring in August fell 0.5 percent to $82.24 a barrel

Egypt reports $17.23 billion primary budget surplus, reaching 5.87 percent of GDP from July 2023 to May 2024

This represents a significant increase compared to the previous fiscal year, when the surplus was only $2.43 billion

Saudi hospitality revenue to rise 7.5 percent in next 4 years, fueled by tourism and Vision 2030

The GCC hospitality sector's revenue is expected to reach $48.1 billion by 2028

UAE’s real GDP to grow by 3.9 percent in 2024, 4.1 percent in 2025: Report

The broader MENA region is expected to grow 2.8 percent in 2024 and accelerate to 4.2 percent in 2025

OPEC maintains forecast for 2.25 million bpd global oil demand growth in 2024, 1.85 million bpd in 2025

The organization forecasted 2.3 million bpd rise in world oil demand in the second half of 2024

AI Retreat 2024: Sheikh Hamdan plans to double AI’s positive impact to drive economic growth, improve quality of life in Dubai

H.H. said the retreat will serve as an annual platform to examine the transformative impact of AI across all sectors

Oil prices edge higher on declining U.S. inventories; investors await Fed announcement and inflation data

Brent crude futures for August delivery gained 0.2 percent to $82.09 per barrel

UAE Cabinet approves $457.9 million housing aid package for Eid

The Cabinet also approved the launch of the "Manzili" bundle, which offers 18 housing services through 24 government entities

Oman posts $6.7 billion trade surplus, merchandise exports reach $16.88 billion by end of March 2024

Total value of merchandise imports to the Sultanate amounted to $10.1 billion

Inflation in Egypt predicted to drop by 10 percent by end of June 2025: Report

The report cited the recent floating of the pound exchange rate and an enhanced IMF agreement

Saudi Arabia to prohibit working under the sun from 12pm to 3 pm starting June 15

The ban applies to private sector establishments and aims to protect workers from heat risks during the hottest hours

Saudi finance companies sector reports 13 percent growth in total assets, reaching $17.1 billion in 2023

The paid-up share capital for the finance companies sector increased by 6 percent to reach $4.13 billion

Qatar’s real estate trading volume reaches $346.41 million in May 2024

Data revealed that 322 real estate transactions were recorded during the month