Middle East

Abu Dhabi’s Modon Holding, U.K. Candy Capital announce JV partnership in ultra-luxury real estate

The joint venture will deliver upscale residential, commercial, and hospitality projects

UAE gold prices flat, global rates dip as traders eye Fed’s latest meeting minutes, economic data

Investor focus now shifts to the Fed's latest policy meeting minutes due on Wednesday and inflation data due on Friday

Oil prices retreat amidst ongoing concerns over Middle East conflict, hurricane impact

Brent crude futures for December delivery dropped 0.6 percent to $80.42 a barrel

UAE-Jordan CEPA to expand bilateral investment flows currently at over $22.5 billion

In 2023, non-oil trade between the two countries exceeded $4.1 billion, a 46.1 percent increase compared to pre-pandemic levels

UAE, global gold prices ease as bets firm for smaller U.S. rate cut in November

Traders are currently pricing a 95.7 percent chance of a 25-basis-point rate cut in November

Oil prices dip on oversupply concerns amid rising Middle East tensions

Brent crude rose 8 percent last week, marking the largest weekly gain since January 2023

Double-digit growth for air cargo continues: IATA

Overall demand, measured by CTKs, increased by 11.4 percent in August 2023, with international operations up 12.4 percent 

$1.1 billion available for investment, funding requests from member countries: World Green Economy Organization

Funds are sourced from private sector investors and organizations eager to invest in green economy projects

UAE, global gold prices rise on safe-haven demand as U.S. payrolls data in focus

The dollar fell 0.1 percent from a month-long high, making gold priced in dollars more affordable for foreign buyers 

Oil prices remain stable as investors assess Middle East tensions, global supply dynamics

Brent crude futures fell by 8 cents, or 0.1 percent, settling at $77.54 a barrel

Emirates makes touchdown to Lagos, Nigeria

The daily service is strategically scheduled to optimize connections to key locations, enhancing business and leisure travel to and from Nigeria

OPEC+ maintains output cut policy in October as oil prices surge above $75

In September, oil prices slid below $70 per barrel for the first time since 2021

UAE, global gold prices down as investors eye key U.S. economic data, Mideast developments

The dollar index continued its rebound, gaining 0.10 percent to 101.78, and making gold more expensive for other currency holders

Oil prices surge amid fears of Middle East conflict disrupting crude shipments

Brent crude futures climbed by 80 cents, or 1.08 percent, reaching $74.70 a barrel

UAE, global gold prices dip as U.S. dollar index rebounds, Mideast tensions escalate

The U.S. dollar held onto its gains, rising 0.08 percent to 101.28, and making gold more expensive for other currency holders

Oil prices jump as Middle East concerns escalate, OPEC+ prepares for market review

Brent futures climbed by $1, or 1.36 percent, reaching $74.56 per barrel

Dubai’s EGA finalizes acquisition of majority stake in U.S. recycling company

This acquisition expands EGA's operations across four continents, from bauxite mining to aluminium recycling 

Abu Dhabi reports new record GDP of $80.86 billion, 4.1 percent increase in Q2 2024

This growth is driven by the development of non-oil sectors, showcasing the emirate's economic diversification efforts

UAE gold prices decline, global rates rise after Fed’s Powell signals smaller rate cuts

Amid the uncertain global economic and geopolitical landscape, bullion posted its best quarterly gain since 2016 on Monday

UAE strengthens position as global leader in AI through strategic investments, partnerships

The country ranks third worldwide in attracting AI experts, with a strong emphasis on cultivating a skilled workforce to drive digital transformation

Mastercard, Amazon Payment Services to enable digital payment acceptance across Middle East and Africa

The payment service provider will use Mastercard Gateway for quick, seamless, and secure transactions in the region

Saudi Arabia sees 656 percent surge in leisure tourists, welcoming 4.2 million in early 2024

The Kingdom welcomed 17.5 million international tourists from January to July 2024

UAE gold prices edge down, global rates fall despite rising Middle East tensions

Market attention turns toward comments from both Fed chair Jerome Powell and Fed governor Michelle Bowman later today