Skip to main content Skip to footer ![$7.2 billion revenue at Egypt’s Suez Canal marks $2.2 billion decline amid Red Sea attacks](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/07/SCZONE.jpeg/w=1024,h=683)
The canal's total tonnage fell by a third, and the number of transits declined by about 22 percent YoY
![UAE and Seychelles partner to promote local currency usage, interlink payment and messaging systems](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/07/UAE-Seychelles.jpeg/w=1024,h=684)
This includes developing the exchange market, facilitating bilateral trade and direct investment, and remittance settlement
![UAE’s Ajman property transactions top $2.45 billion in H1 2024](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/07/Ajman-real-estate.jpeg/w=1024,h=682)
This reflects a 33 percent increase compared to the same period in 2023
![UAE and global gold prices lose luster amid profit-taking, dollar strength](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/07/Gold-prices-1.jpg/w=1024,h=682)
In the UAE, gold prices fell with 24-carat gold inching up to AED293.50 per gram
![Widespread Microsoft outage cripples airports, businesses after CrowdStrike glitch](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/07/Windows-blackout-1-1-1.jpg/w=1024,h=683)
The issue appears to be related to software from the cybersecurity firm CrowdStrike
![ECB keeps interest rates unchanged, ‘wide open’ on September decision](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/07/ECB-interest.jpg/w=1024,h=683)
The Central Bank wants more evidence that inflation is still on track to reach the 2 percent target by the end of 2024
![Egypt’s Central Bank holds key rates amidst 2.2 percent GDP growth and 27.5 percent inflation](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/07/CBE-interest.jpg/w=1024,h=683)
The bank noted that "the current monetary stance is appropriate to support the sustained moderation of inflation."
![Oil prices retreat amid doubts about China’s demand outlook, signaling weekly losses](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/07/Oil-prices-14.jpg/w=1024,h=683)
Brent oil futures for September delivery shed 0.5 percent to $84.73 per barrel
![Dubai’s real estate transactions surge 35.7 percent to $33.5 billion in Q2 2024: Report](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/07/Dubai-real-estate-1-1-1.jpg/w=1024,h=683)
The total transaction volume saw a 60.06 percent year-on-year growth, with 48,220 transactions recorded
![Abu Dhabi, Hong Kong forge cooperative agreement to facilitate global trade, investment flows](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/07/Hong-Kong-Abu-Dhabi.jpg/w=1024,h=683)
The MoU outlines a pledge for mutual cooperation on investment promotion exchanges and support
![Indian travelers may soon make UPI payments in Qatar](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/07/India-UPI-QNB-1-1.jpg/w=1024,h=683)
New partnership will let Indian tourists use their preferred payment methods at retail, attractions, leisure, duty-free, and hotels
![Yas Island’s eco-friendly city earns top sustainable urban design rating in Abu Dhabi](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/07/Sustainable-City-YAs-Island.jpeg/w=1024,h=683)
The Estidama 5 Pearl rating signifies excellence in sustainable design