Middle East

UAE President, King of Jordan discuss bilateral ties and regional developments in Abu Dhabi

Both leaders affirmed support for Lebanon's unity and sovereignty, expressing solidarity with its people

Gold prices rise for fourth day straight as Russia-Ukraine tensions escalate

The U.S. dollar index fell 0.11 percent to 106.57, making gold prices more appealing for other currency holders

UAE sustains role as key regional hub for trade, business, travel: World Bank

This prominence is due to the country's successful economic diversification and reduced reliance on oil 

Gold prices at one-week high on softer dollar

Geopolitical risks stemming from the Russia-Ukraine war and the ongoing conflicts in the Middle East continue to raise safe-haven demand for gold

UAE, Brazil strengthening bilateral relations and collaboration in G20 for global development

The UAE is Brazil's largest Middle Eastern partner, with trade at AED13.28 billion in the first eight months

Lebanon sees $8.5 billion in physical damages, economic losses amid conflict: World Bank

Damages to physical structures alone amount to $3.4 billion while economic losses have reached $5.1 billion

Gold prices set for worst week in over three years

Data on Thursday showed that U.S. producer prices picked up in October, adding to signs that progress toward lower inflation was stalling

Profitability, asset quality to boost GCC banking sector resilience in 2025: S&P

Brent oil price will average $75 per barrel in the fourth quarter of 2024 and over 2025-2027, which will be helpful for most GCC countries

Global South presents sustainable investment opportunities for Middle East sovereign wealth funds: Report

In the Global South, critical areas like water and sanitation, food security, education, forestry, and biodiversity conservation, remain largely untapped

Sheikh Maktoum, Visa’s Oliver Jenkyn meet to advance innovation in fintech and digital financial services

This meeting underscores the UAE's commitment to collaborating with global fintech leaders to foster innovation 

OPEC and IEA diverge widely on oil demand projections through 2050

OPEC has lowered its 2024 oil demand growth forecast to below 2 million bpd, while the IEA projects even lower demand growth at under 1 million bpd

Binghatti’s AED40 billion portfolio boasts lifestyle-centric projects

Keen on carving its own niche in Dubai’s highly competitive real estate market

UAE, global gold prices dip as market awaits key U.S. data, Fed comments

The dollar gained 0.08 percent to 105.08 on Monday after marking significant gains following the U.S. Presidential election

September 2024 passenger demand soars with 7.1 percent growth in RPKs: IATA

In terms of total capacity, evaluated through available seat kilometers (ASK), there was a year-on-year increase of 5.8 percent 

Lulu Retail’s IPO raises $1.72 billion, share price set at $0.56

The offering garnered aggregate demand exceeding $37 billion from local, regional, and international investors

Mastercard joins Buna to facilitate seamless cross-border payments into and out of MENA region

The move will allow global financial institutions to send fast, cost-efficient payments to Buna via Mastercard Move

Air Arabia launches Sharjah-Yanbu flights, bringing UAE-Saudi routes to 12

The new route underscores carrier’s swift growth throughout the Kingdom as tourism and business travel climb 

ADIPEC 2024: UAE plans to invest over $54 billion to meet sustainable energy demand over next six years, says Suhail Al Mazrouei

This initiative is part of the country's commitment to decarbonising the economy and achieving net-zero emissions by 2050 

OPEC+ extends voluntary oil output cuts until the end of the year

The group is currently cutting 5.86 million barrels per day of output, equal to about 5.7 percent of global demand

UAE gold prices rise ahead of U.S. election, Fed rate cut

Uncertainty surrounding the election and the U.S. central bank's policy decision could support gold prices this week

Oil prices rise as OPEC+ extends production cuts, impacting U.S. election and Chinese stimulus expectations

Brent futures had risen by $1.18 per barrel, translating to a 1.61 percent increase, reaching $74.28 per barrel

FII8: Saudi Arabia’s ministry of investment announces five deals in key sectors

SBI Holdings and BIM Ventures aim to attract over $200 million in foreign direct investment and manage assets exceeding $2 billion

UAE gold prices fall by AED3 after Diwali, global rates rise ahead of U.S. payrolls data

Gold prices have gained over 4 percent in October amid safe-haven flows spurred by Mideast tensions and U.S. election uncertainty