Middle East

UAE gold prices steady, global rates set for weekly gain on second rate cut bets

Market focus now shifts to the U.S. core personal consumption expenditures price index data due later today

Oil prices decline as Libya and OPEC+ boost output, while China’s stimulus offers support

Brent crude futures decreased by 20 cents, or 0.28 percent, settling at $71.40 per barrel

UAE Central Bank raises country’s GDP growth forecast for 2024 to 4 percent, 6 percent for 2025

Growth in 2025 will be fueled by strong non-hydrocarbon momentum and a rise in hydrocarbon production 

Oil prices steady amid Libyan production hopes, strong U.S. demand

Brent oil futures for November rose by 0.1 percent to $73.51 per barrel

UAE gold prices up, global rates hover near all-time high ahead of Fed chair Powell’s comments

Market awaits Federal chair Jerome Powell's remarks due later in the day, along with U.S. inflation data due on Friday

Sheikh Mohamed strengthens UAE-U.S. relations through key dialogues with U.S. senators on shared interests, global challenges

Key focus areas included the economy, trade, climate action, AI, renewable energy, and sustainability

Investec expands presence in Middle East with new office at Dubai International Financial Centre

The DIFC office will connect HNWIs, family offices, and financial institutions in the GCC, providing advisory services in private banking and wealth management.

Gold prices extend record high to $2,670.15 on weaker dollar, UAE rates surge

Traders now await Fed chair Jerome Powell’s remarks on Thursday and U.S. inflation data on Friday for further policy cues

Oil prices dip slightly as market reacts to China’s stimulus measures, supply disruptions

Brent oil futures for November delivery dropped 0.1 percent to $75.12 per barrel

UAE, IRENA forge partnership to boost climate ambitions in 20 developing nations

The partnership aims to leverage the UAE’s climate leadership and IRENA’s role in NDC development and sustainable energy transition 

Abu Dhabi’s Masdar secures $159 million for 154 MW Čibuk 2 wind farm, powering 62,000 households

Non-recourse financing has been secured from lenders UniCredit and Erste Bank Serbia