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Economy Middle East Summit 2025
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Economy Middle East Summit 2025
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Energy
Oil prices surge to $81.22 due to potential supply disruptions, cold weather
Crude oil WTI Futures expiring in March increased by 1.7 percent, hitting $77.06 a barrel
Energy
Oil prices rise by 0.4 percent driven by increased heating fuel demand, cold weather across U.S.
Brent oil futures set to expire in March climbed by 0.4 percent to reach $77.22 per barrel
Banking & Finance
Mastercard Crypto Credential launches in UAE and Kazakhstan, simplifying cryptocurrency transactions
Verifying cryptocurrency interactions with blockchain
Banking & Finance
Egypt’s net foreign reserves surge to $47.109 billion in December 2024
At the close of August 2024, Egypt's net international reserves reached $46.597 billion
Banking & Finance
Egypt receives first $1.03 billion EU funding installment
Discussions are currently in progress to approve a second tranche of $4.14 billion
Banking & Finance
Egypt approves $131 million agreement with AfDB for private sector development
This approval follows a EUR1 billion EU support initiative endorsement
Markets
UAE gold prices stable at AED315.15 amid thin year-end trading, set for strong annual gains
22-carat gold stood at AED 292.25, 21-carat gold was priced at AED 283, while 18-carat gold was at AED 242.50
Energy
Oil prices rise to $74.51 following Chinese manufacturing data, but set for yearly decline
WTI futures for February delivery also saw a 0.7 percent increase, reaching $71.05 per barrel
Energy
Oil prices dip 6 cents with Brent at $74.11 as investors watch for China and U.S. data
U.S. West Texas Intermediate crude saw an 8-cent decline, bringing it to $70.52 a barrel
Economy
UAE-Croatia bilateral trade surges to $78.9 million in H1 2024, up 44.8 percent
UAE non-oil trade with Croatia reaches $110.7 million in 2023
Technology
Italy fines OpenAI $15.59 million for privacy violations
Last year, Italy became the first Western country to block OpenAI's ChatGPT over privacy concerns
Economy
Bank of England maintains 4.75 percent interest rate, hints at future gradual cuts
The Bank indicated that the economy underperformed, reporting no growth from October to December
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