Middle East

Oil prices rebound as tropical storm Francine raises concerns over supply disruptions amidst mixed demand signals

Brent crude futures increased by 39 cents, or 0.6 percent, reaching $69.58 a barrel

UAE’s ADNOC to supply LNG to Indian Oil Corporation for 15 years

The LNG will primarily be sourced from ADNOC's Ruwais LNG project

Oil prices face pressure from sluggish Chinese demand, anticipated supply challenges from tropical storm Francine

Brent crude futures fell by 4 cents, or 0.06 percent, settling at $72.80 a barrel

Unlocking MENA’s thriving investment opportunities at the EFG Hermes 10th Annual London Investor Conference

Leaders will convene from September 9 to 12 to discuss innovations in capital markets and regulatory developments

Oman’s Salalah Free Zone draws $11.95 billion in investment by June 2024

In H1 2024, the Salalah Free Zone added 13 projects in frankincense, packaging, air conditioning, and textiles

UAE, Egypt strengthen economic ties in key sectors at Arab Economic and Social Council meeting

The UAE is the top Arab investor in Egypt and the third largest globally

UAE targets $27.2 billion in tourism investments by 2031, increasing GDP contribution to $122.5 billion 

In 2023, tourism accounted for 11.7 percent of the UAE’s GDP, amounting to $59.9 billion

Oil prices surge as hurricane threatens U.S. Gulf coast amid market recovery from disappointing jobs data

Brent crude futures rose by 99 cents, or 1.39 percent, to $72.05 per barrel

Oil prices rise as OPEC+ members agree to extend voluntary production cuts

Brent was on track to drop nearly 8 percent this week, while WTI was headed for almost a 6 percent decline

Softlogic partners with Daikin to advance UAE’s commercial air conditioning industry

The partnership is formed amidst a booming UAE air conditioning market worth over $650 million, driven by real estate growth