Skip to main content Skip to footer ![Oil prices slide on rising U.S. inventories, easing Middle East tensions](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/08/Oil-prices-11.jpg/w=1024,h=683)
Brent crude futures declined by 0.1 percent, settling at $77.11 per barrel
![UAE banks add 15 ATMs in Q1 2024, reaching 4,669](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/08/CBUAE-ATMs.jpg/w=1024,h=683)
This growth is driven by technological advancements and changes in the financial sector, leading to greater security and efficiency
![DP World, British International Investment pump $35 million into Congo’s first deepwater port](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/08/British-International-Investment-DP-World.jpg/w=1024,h=683)
The project aims to unlock Congo's trade potential and boost its economy
![Turkish central bank holds interest rate steady at 50 percent for fifth month](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/08/Turkiye-interest-rates.jpg/w=1024,h=683)
This move reflects TCMB's commitment to a cautious monetary policy, balancing inflation control with economic risks
![Manufacturing sector’s 9.2 percent expansion boosts Oman’s economic growth in Q1 2024](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/08/Oman-manufacturing-sector.jpg/w=1024,h=683)
Oman's 10th Five-Year Plan aims to boost manufacturing's GDP contribution from 10 percent to 12.2 percent by 2025
![Oman’s Nizwa: A thriving industrial hub with $1.23 billion investment, 173 projects](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/08/Nizwa-Oman.jpg/w=1024,h=682)
A 78,000 square meter residential project is being planned and will be open for investment soon
![Saudi Arabia’s logistics master plan to be launched at the upcoming GLF 2024 in October](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/08/Saudi-Arabia-logistics-GLF-2024-1.jpg/w=1024,h=683)
Over 10,000 participants, including heads of state, ministers, and industry leaders, will convene in Riyadh
![Saudi Arabia’s PIF surpasses $765 billion in AUM, delivering 8.7 percent average annual shareholder return](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/08/PIF-AUM-1-1.jpg/w=1024,h=682)
Since its inception, PIF has achieved an average total shareholder return of 8.7 percent per year
![Riyadh Air partners with CONCACAF to connect football fans worldwide](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/08/Riyadh-Air-CONCACAF-1-1-1.jpeg/w=1024,h=680)
This partnership will boost brand awareness among a large, passionate audience, setting the stage for the 2025 launch
![Oman’s trade balance booms with $7.76 billion surplus by May 2024, UAE key trading partner](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/08/Oman-trade.jpg/w=1024,h=683)
Oman's commodity exports rose 5 percent YoY, reaching $25.16 billion during this period
![Oil prices retreat as geopolitical concerns ease, demand concerns rise](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/08/Oil-prices-1-3.jpg/w=1024,h=683)
Brent crude futures dropped 0.7 percent, or 53 cents, to $77.13 per barrel
![11 UAE e-commerce giants pledge for safer online shopping](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/08/MoIAT_01-1-1-1.jpg/w=1024,h=683)
Amazon, Noon, Al-Futtaim Group among first companies to sign up to voluntary pledge