Middle East

Oil prices surge as OPEC+ weighs production delays and U.S. gasoline stockpiles drop to two-year low

Brent crude futures, now reflecting the January contract, increased by $1.41, or 2 percent, reaching $74.22 a barrel

Google launches AI Opportunity Initiative for MENA region with $15 million funding

New initiative aims to further empower half a million individuals within two years with critical AI skills

FII8: PIF and Google Cloud to launch global AI hub in Saudi Arabia to support ICT goals, foster tech partnerships

This partnership grants customers access to Google Cloud’s technology, boosting growth and AI delivery 

Gold prices hit new record high of $2,790.15, set for best month since March

Gold prices have gained close to 5 percent so far this month and almost 41 percent in the past year

Oil prices soar on optimism over U.S. demand, potential OPEC+ output delays

Brent crude futures were up by 47 cents, or 0.65 percent, reaching $73.02 a barrel

Dubai Internet City: 25 years of transforming Middle East’s digital landscape, empowering global tech firms

Dubai Internet City’s ecosystem has grown in 2024 to include multinational corporations, start-ups, and Fortune 500 companies 

UAE gold prices soar, global rates hit record high ahead of Diwali

Markets are also bracing for a series of economic indicators in the coming days 

Oil prices climb following unexpected draw in U.S. oil stocks, anticipation of key economic data

Brent oil futures for December delivery climbed 0.5 percent to $71.50 per barrel

QatarEnergy partners with TotalEnergies on major 1.25 GW solar project in Iraq

This project aims to be one of the world's largest, featuring 2 million high-efficiency bifacial solar panels on single-axis trackers

Orange Middle East and Africa, Mastercard collaborate to digitize payments for millions across Africa by 2025

Partnership to empower millions of Orange Money wallets with digital payments by 2025, boosting financial inclusion in seven countries

UAE gold prices surge, global rates near record high as U.S. election nears

Uncertainty over the outcome of the U.S. election kept traders largely biased towards safe havens such as the dollar and gold

Oman’s OQEP shares listed on MSX as largest company with over $7.79 billion capitalization

This underscores efforts to diversify MSX by adding key players from various sectors of Oman’s economy

UAE’s GDP projected to grow over 5 percent by 2025 amidst shifting global dynamics: UBS

Global factors, especially oil production and OPEC decisions, influence growth expectations for GCC economies

UAE, global gold prices edge down on stronger dollar

Recent gains place the dollar on track for its best month since April 2022

Oil prices plummet as Middle East tensions ease, demand outlook weakens

Brent Oil Futures set to expire in December decreased by 4.1 percent, closing at $72.97 a barrel

UAE gold prices dip, global rates set for weekly gain as geopolitical risks raise demand

U.S election, along with Middle East tensions, might continue to act as a tailwind for gold prices

Oil prices surge with notable weekly gains as traders react to supply concerns, mixed economic signals

Brent crude futures for December delivery rose 0.4 percent to $74.70 per barrel

Middle East economic confidence improves: Non-oil economies driving growth amid global volatility

New survey highlights marked improvements in the region’s Capital Expenditure and Employment indices

CBUAE reports banks extend $22.1 billion in financial support to SMEs by mid-2024

SME loans made up 9.5 percent of 232.9 billion in financial facilities for commercial and industrial sectors as of June 

UAE gold prices dip, global rates rise as demand offsets stronger dollar

Analysts expect gold prices to reach over $2,800 this year and $3,000 in 2025

Saudi Arabia’s Crown Prince Mohammed bin Salman meets King of Jordan to enhance cooperation

The meeting also saw the participation of Crown Prince Al-Hussein bin Abdullah II

Gold prices hit new record high of $2,752.38, UAE rates up

Market awaits the upcoming release of U.S. existing home sales data, which will provide additional insight into the health of the economy

Oil prices decline amid rising U.S. inventories, ongoing Middle East tensions

Brent crude futures for December fell 0.4 percent, settling at $75.75 per barre