GCC
MoF stated that this surplus was directed towards reducing public debt, and therefore there was no cash surplus
These revisions reflect reduced pressures on these banks' capital ratios in the upcoming FY2024/2025
Solid budget and financial buffers, but reforms needed to reduce oil dependence
This represents a 58.4 percent growth compared to 2022
Losses from rate cuts to reach around $2.8 billion or 1.9 percent of GCC banks' total equity
Agreements to boost existing and future investments in Oman and Kuwait in key sectors
Notable market gains included MBC Group Co and Avalon Pharma
The new visa initiative supports emirate’s tourism strategy, which aims to targeting 39.3 million visitors by 2030
Market value of the Abu Dhabi Securities Exchange reached $754.7 billion in April
With this expansion, the total number of countries eligible for the E-visa has increased to 66
Egypt targets attracting 30 million tourists by 2028 in light of additional funding for more tourism development projects
