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Economy
Saudi Arabia cancels hotel licensing fees to boost tourism investment
This change, effective September 4, aims to position the Kingdom as a global tourism leader
Energy
UAE’s ADNOC launches inaugural $4 billion notes offering under GMTN Program
The net proceeds from this issuance will be utilized by ADNOC Group for general corporate purposes.
Bahrain
GCC banks well positioned to continue strong run in 2024: Report
The report stated that high interest rates kept profit margins at 2.7 percent, with strong bank profitability in H1
Economy
Abu Dhabi set to host AIM Congress 2025 in April
The event will address economic challenges through collaborative investment strategies
Economy
Dubai to welcome 22 floors of sustainable luxury living with $54.4 million upcoming residential development
Loutraki International is investing in Dubai’s real estate market through the Santorini Residences project
Banking & Finance
Saudi Arabia and Türkiye central banks sign MoU to enhance economic cooperation, financial stability
The central banks will share expertise and resources to address challenges and boost economic development
Economy
Softlogic partners with Daikin to advance UAE’s commercial air conditioning industry
The partnership is formed amidst a booming UAE air conditioning market worth over $650 million, driven by real estate growth
Economy
Oil prices gain slightly as OPEC weighs output delay amid falling U.S. stockpiles
Brent crude futures for November rose by 15 cents, or 0.1 percent, to $72.85
Economy
Dubai welcomes 10.62 million international tourists in first 7 months of 2024
Western European countries topped the list of tourists to Dubai, with about 2.086 million visitors
Banking & Finance
National banks in the UAE invest $1.19 billion in local stock markets in 12 months: CBUAE
By the end of May, these banks had elevated their equity investments to AED16.1 billion
Banking & Finance
Abu Dhabi’s Masdar’s $1 billion green bond issuance drew $4.6 billion in demand, oversubscribed 4.6x
In July 2024, Masdar successfully raised $1 billion through its green bond issuance under its Green Finance Framework
Logistics
Dubai RTA completes 4.6 km Umm Suqeim improvement project, reducing traffic by 40 percent during peak hours
The authority launched 200 new temporary parking slots and a 500-meter roadway
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