Middle East

Oil prices surge amid rising Middle East tensions, anticipation of Fed rate cuts

Brent oil futures for November rose 0.5 percent to $74.83 per barrel

Arab stock exchanges’ market cap grows 0.52 percent to $4.268 trillion in August

The Egyptian stock exchange led the Arab stock exchanges with the largest monthly increase of 4.64 percent

Dubai’s Emirates launches luxurious new lounge at London Stansted Airport 

This new lounge is Emirates' sixth in the U.K., alongside those at Heathrow, Gatwick, Birmingham, Glasgow, and Manchester 

International tourism reaches 96 percent of pre-pandemic levels with 790 million travelers in early 2024 

The surge was fueled by robust demand in Europe and the reopening of markets in Asia and the Pacific 

Sharjah Investment Forum 2024 attracts 5,000+ attendees, paving path to smart economies

The event highlighted Sharjah’s strategic role as a prime destination for FDI

UAE gold prices surge, global rates set for weekly gain following Fed rate cut

The dollar index fell 0.05 percent to 100.56, making gold less expensive for other currency holders

Oil prices slip as traders lock in profits, weekly rise boosted by U.S. rate cut

Brent oil futures, set to expire in November, dropped 0.4 percent to $74.60 per barrel

Non-hydrocarbon sectors poised to drive strong GCC economic growth this year: Report

Deal-making in the region remained active, with 214 transactions recorded in H1 2024

GCC economic growth to more than double to 4.4 percent in 2025, says ICAEW report

Global GDP growth to reach 2.7 percent both this year and the next

Middle East set to achieve $75.6 billion in renewable energy investments: Report

These investments encompass 116 renewable energy are expected to become operational between 2025 and 2030

Saudi Arabia’s Crown Prince pledges $5 billion investment in Egypt through PIF

Saudi Arabia to provide additional facilities for companies operating in the new and renewable energy sector in Egypt

UAE gold prices down, global rates dip ahead of Fed’s policy rate decision

India's August gold imports surged to $10.06 billion, compared with $3.13 billion in July