GCC

GCC banks well positioned to continue strong run in 2024: Report

The report stated that high interest rates kept profit margins at 2.7 percent, with strong bank profitability in H1

UAE, Kuwait strengthen bilateral ties with MoUs on standardization, infrastructure, and cybersecurity

Other notable agreements included collaboration in communications and information technology

Qatar cultural events in September: New attractions, events, performances and concerts

Qatar recorded 2.6 million visitors, with a notable 43 percent coming from GCC countries during the first six months of 2024

Saudi Arabia-GCC non-oil trade balance exceeds $1.8 billion in Q2 2024

The UAE led with exports valued at SAR15.070 billion, approximately 61.8 percent of total Saudi non-oil commodity trade among GCC countries

Bahrain: Multinational enterprises required to pay new 15 percent minimum tax on profits starting January 1, 2025

This new framework for MNEs is fully in line with the guidelines set by the OECD

QatarEnergy to double urea production to 12.4 million tons by 2030

QatarEnergy plans to build a large urea production complex to boost global food and energy security

Moodyโ€™s upgrades Omanโ€™s outlook to positive, citing improved debt metrics and strong fiscal management

The agency also retained its (P)Ba1 rating for the Government of Omanโ€™s senior unsecured medium-term note program

UAE oil imports to Japan reach 31.07 million barrels in July 2024, 49.1 percent of total

Arab oil made up 97.8 percent of Japan's imports, totaling 61.92 million barrels

Kuwait Warba Bankโ€™s $500 million sukuk issuance on London Stock Exchange draws $1.8 billion in 3.5x demand

These five-year sukuk support projects advancing ESG goals aligned with sustainability objectives

UAEโ€™s ADX sees $507.2 million in ETF trading value during eight months of 2024

Since the start of 2024, ETF trading volume has reached 450.7 million units