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economy
Banking & Finance
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
Economy
World Bank announces $700 million in financing for Egypt
The support aims to boost Egypt's private sector, fiscal resilience, and green growth
Markets
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
Banking & Finance
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
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
Economy
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
Economy
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
Markets
Oil prices hover around $85 amid global tensions, inventory shifts
Brent crude futures edged up 2 cents to $85.35 per barrel
Markets
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
Markets
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
Banking & Finance
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
Hospitality & Tourism
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
Economy
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
Energy
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
Technology
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
Markets
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
Real Estate
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
Logistics
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
Economy
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
Miscellaneous
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
Banking & Finance
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
Miscellaneous
UAE launches Phase 2 of ’Work Bundle’, simplifies work with digital platform, cutting 25 million steps, 2 million visits, 62 million working days
The platform reduces procedures from 20-30 days to 5 days
Qatar
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
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