economy

Oil prices surge with notable weekly gains as traders react to supply concerns, mixed economic signals

Brent crude futures for December delivery rose 0.4 percent to $74.70 per barrel

Middle East economic confidence improves: Non-oil economies driving growth amid global volatility

New survey highlights marked improvements in the region’s Capital Expenditure and Employment indices

CBUAE reports banks extend $22.1 billion in financial support to SMEs by mid-2024

SME loans made up 9.5 percent of 232.9 billion in financial facilities for commercial and industrial sectors as of June 

UAE drives regional economic growth: Insights from LSE Deputy CEO

The country has successfully completed 37 bond issues amounting to a total of $18.51 billion 

Abu Dhabi Commercial Bank announces H1 2024 net profit after tax of $1.2 billion

Customer deposits in current and savings accounts totaled AED169 billion by the end of September 2024 

Dubai reveals #ZayedAndRashid campaign: A celebration of national unity, cultural heritage across emirates

The campaign coincides with UAE Flag Day and 53rd Eid Al Etihad celebrations

Islamic treasury bonds auction for October 2024 attracts $1.96 billion in bids

The auction attracted interest from eight primary dealers for both tranches maturing in May 2027 and September 2029

UAE President engages with world leaders on trade and development at BRICS Summit

The summit, which runs until October 24, is themed 'Strengthening Multilateralism for Equitable Global Development and Security,’

Oil prices rise amid Middle East tensions and U.S. election uncertainty, recovering previous losses

Brent crude futures increased by 95 cents, or 1.27 percent, reaching $75.91

UAE, Rajasthan sign investment agreement to pursue 60 GW renewable energy project in India

Both nations have set ambitious clean energy targets in recent years

UAE President Sheikh Mohamed attends 16th BRICS Summit in Kazan, Russia

Extending until October 24, the 16th BRICS Summit will focus on key issues including financing, technology, food trade and expanding the union’s membership

UAE maintains leadership in global labor market competitiveness indicators

The country secured the top position globally in four key indicators from the Institute for Management Development World Competitiveness Yearbook 2024

UAE’s real GDP expected to expand by 5.1 percent in 2025, according to IMF

Globally, growth is expected to remain stable but lackluster, with projections of 3.2 percent for both 2024 and 2025 

Oil prices decline amid rising U.S. inventories, ongoing Middle East tensions

Brent crude futures for December fell 0.4 percent, settling at $75.75 per barre

Finance House to invest $81.67 million in Abu Dhabi capital market

This collaboration seeks to enhance market liquidity and financial stability, aligning with the ADX’s vision 

Sharjah Chamber hosts Japanese delegation, discusses enhancing economic cooperation

The Chamber seeks to boost knowledge exchange and collaboration between investors from both nations

Abu Dhabi, Dubai crowned top cities for expats’ ease of entry globally

Dubai, Abu Dhabi, Riyadh, and Dammam demonstrated adaptability in the face of global economic and geopolitical challenges

Mohammed Bin Rashid Aerospace Hub, IER MRO Industries partner to open MRO and engine test facility at Dubai South

The new 880,000-square-foot facility will offer gas turbine engine component manufacturing, repairs, and overhauls

Oil prices slide amid Middle East tensions, Chinese demand concerns

Brent crude futures for December delivery fell by 19 cents, or 0.3 percent, settling at $74.10 a barrel

Sharjah Islamic Bank profit before tax up 29 percent to $270.1 million for nine months ending September

The bank is diversifying its financing portfolio, with total customer financing at AED36.6 billion

Emirates optimizes commercial portfolios to position for global growth

Emirates recently announced new appointments in its commercial team for key markets in the Middle East and Africa

Etihad Airways enhances European connectivity: Daily services to Düsseldorf and Copenhagen start in 2025

The Düsseldorf route will experience a significant boost as it transitions from its current schedule to daily service