economy

Oil prices retreat amidst ongoing concerns over Middle East conflict, hurricane impact

Brent crude futures for December delivery dropped 0.6 percent to $80.42 a barrel

Oil prices dip on oversupply concerns amid rising Middle East tensions

Brent crude rose 8 percent last week, marking the largest weekly gain since January 2023

Egypt’s external debt falls by $15 billion in six-month period, says PM Madbouly

Egypt's external debt stood at $168 billion in December 2023 and fell to $152.8 billion by last June

Double-digit growth for air cargo continues: IATA

Overall demand, measured by CTKs, increased by 11.4 percent in August 2023, with international operations up 12.4 percent 

Qatar Central Bank issues T-bills worth $1.2 billion, bids reach $3.56 billion

T-bills have maturities of 7 days, 28 days, 91 days, 182 days, 301 days, and 364 days

$1.1 billion available for investment, funding requests from member countries: World Green Economy Organization

Funds are sourced from private sector investors and organizations eager to invest in green economy projects

Dubai’s Parkin announces first interim dividend of $54.1 million

Cash dividend will be paid to shareholders at the end of October

DoH – Abu Dhabi, Ma’an raise over $4 million for Abu Dhabi health Research and Innovation Grant

This initiative supports DoH’s mission to transform the regional healthcare landscape through science and technology 

UAE, global gold prices rise on safe-haven demand as U.S. payrolls data in focus

The dollar fell 0.1 percent from a month-long high, making gold priced in dollars more affordable for foreign buyers 

Oil prices remain stable as investors assess Middle East tensions, global supply dynamics

Brent crude futures fell by 8 cents, or 0.1 percent, settling at $77.54 a barrel

Growth of low-emissions hydrogen projects outpaces policy support: Report

Urgent policies are needed to boost demand in heavy industry, refining, and long-distance transportation 

UAE’s DMCC, CV VC collaborate to enhance regional Web3 ecosystem growth

Both organizations will enhance their ecosystems through collaboration, including workshops, resource sharing, and joint events 

Etihad, DCT Abu Dhabi ‘stopover’ initiative sees 242 percent surge in travelers

The initiative's relaunch has surpassed expectations and significantly boosted the emirate's tourism industry

UAE’s Etihad Rail launches new corporate identity with revamped logo, strategic vision

The new logo design draws inspiration from the falcon’s eye, the silhouette of a train, and the railway track

Emirates makes touchdown to Lagos, Nigeria

The daily service is strategically scheduled to optimize connections to key locations, enhancing business and leisure travel to and from Nigeria

WEF introduces innovative digital platform to boost clean energy investments in emerging markets

The platform outlines 100 policy measures, financial mechanisms, and de-risking strategies from the past two decades

ADX records 15 major deals on ADNOC Gas and Modon valued at $724.2 million

The first transaction involved 505.8 million shares of Modon Holding for AED2.44 billion across six deals at AED4.83 per share 

Moody’s projects 5.5 percent growth for Saudi Arabia’s non-oil sector

The agency forecasts government spending will remain high at 30 to 32 percent of GDP over the next three years 

UAE President, Sheikh Mohammed bin Rashid meet to discuss strategies for enhancing national welfare and development 

The leaders discussed the UAE's development and strategies for national growth and prosperity

Oil prices surge amid fears of Middle East conflict disrupting crude shipments

Brent crude futures climbed by 80 cents, or 1.08 percent, reaching $74.70 a barrel

UAE, Saudi Arabia top Arab region with $32 billion in gross written premiums 

Global gross written premiums totaled about $6.78 trillion at the close of 2022

UAE insurance sector profits reach $680.6 million in 2023, reports CBUAE

The total number of insurance policies written across all types in the UAE surged to 14.6 million 

$19.55 billion of Islamic bonds, sukuk listings on Abu Dhabi market: UAE’s SCA

The listings comprise 10 conventional tranches and 6 additional issues categorized as green bonds and sukuk focused on sustainability 

Abu Dhabi sets new mortgage records in Q3 with $3.67 billion in 2,594 transactions 

This represents the highest quarterly volume seen in recent years