Skip to main content Skip to footer ![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
![UAE’s DWTCA Free Zone reports 19 percent rise in registered companies to 2,818 in H1 2024](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/08/DWTCA.jpg/w=1024,h=683)
The number of direct jobs within the free zone also grew to 8,223, a 5 percent annual increase from 7,837 in H1 2023
![DMCC seeks to expand UAE-U.S. trade, investment flows across key sectors](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/08/DMCC.jpg/w=1024,h=683)
DMCC is currently home to over 45 percent of the 1,500 American businesses in the UAE
![Global economic zones converge in Dubai in September for 10th World FZO World Congress](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/08/Dubai-World-Congress-of-the-World-Free-Zones-Organization.jpg/w=1024,h=683)
The event will highlight how these zones contribute to national economies by promoting trade, commerce, and the digital economy
![Saudia leads world in on-time flights again](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/08/Saudia.jpeg/w=1024,h=683)
The airline achieved on-time arrival rate of 88.12 percent and on-time departure rate of 88.15 percent
![Saudi central bank reports strong growth in reserve assets, reaching $467.4 billion in Q2 2024](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/08/SAMA-assets.jpg/w=1024,h=683)
The quarter saw a 2.7 percent quarterly increase, adding around SAR46.724 billion to the reserve
![Abu Dhabi’s Masdar, Infinity Power to build 200-megawatt wind farm in Egypt](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/08/Masdar-Infinity.jpg/w=1024,h=683)
The MoU secures a long-term supply of renewable energy from a large onshore wind project in Ras Ghareb, Egypt
![Accelerating growth: ADGM strengthens position as global financial hub](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/08/Arvind-Ramamurthy-chief-of-market-development-ADGM.jpg/w=1024,h=683)
The UAE capital’s international financial center saw its AUM grow by 226 percent in H1 2024
![Dubai Chambers, China Construction Bank partner to boost trade and investment cooperation](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/08/Dubai-Chambers-China.jpeg/w=1024,h=683)
This deal will foster knowledge sharing and expertise exchange, strengthening support for businesses and investors
![How global aircraft chartering is revolutionizing corporate travel](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/08/Global-corporate-travel.jpg/w=1024,h=683)
Companies spend about $111.7 billion on business travel every year
![GCC’s aviation sector soars as a key economic driver](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/08/GCC-Aviation.jpg/w=1024,h=683)
Robust infrastructure, strategic location vital to the growth of the industry and the region’s economy