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Miscellaneous
UAE announces $216.31 million in pension payments for July 2024, benefiting 48,199 pensioners
This marks an increase compared to July 2023, when AED711,323,785.25 was allocated to 46,835 recipients
Economy
UAE, Indonesia to boost cooperation in public finance, debt management, and climate finance
The two countries enjoy thriving bilateral trade, with $4 billion in volume in 2023
Markets
Oil prices rebound after recent losses as industry data shows inventory drop, but surplus looms in 2025
Brent oil futures for September delivery rose 0.5 percent to $81.40 per barrel
Telecom
Dubai’s du posts 54.2 percent net profit surge to $322.35 million in H1 2024
In its Q2 2024 financial results report, du announced that its net profit reached AED581 million
Miscellaneous
Microsoft reports CrowdStrike software update affected 8.5 million Windows devices
The broad economic and societal impacts reflect the use of CrowdStrike by enterprises running critical services, Microsoft said
Energy
DEWA installs over a million smart water meters in Dubai
This is further aimed at enhancing operational efficiency, managing facilities and services through smart and integrated systems
Economy
Kuwait’s inflation slows to 2.8 percent in June, lowest since 2020, as food and rent costs cool
Price rises in the food & beverages sub-component eased to a still-elevated 5.6 percent down from 6.1 percent in May
Banking & Finance
Egypt’s external debt dips 8.4 percent to $153.86 billion in five months
Foreign currency inflows into the local market have jumped by about 200 percent
Industry
Surge in demand for industrial and logistics assets reaches 185 percent in Dubai, Abu Dhabi: Report
The Jebel Ali Industrial Area Second Category saw rents jump 38.5 percent to AED36 ($9.80) per sq ft.
Health
Dubai launches landmark $28.58 million mental health framework
The new framework features 10 key initiatives that will be launched over the next five years
Hospitality & Tourism
New luxury resort slated to debut in Saudi giga-project NEOM
The resort will include a long, bridge-like structure that spans 450 meters and is suspended 40 meters above a lagoon
Markets
Oil prices fall to 1.5-month low amid weak outlook and surplus concerns
Brent oil futures expiring in September fell 0.2 percent to $82.26 a barrel
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