Middle East

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

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