Middle East

Oil prices rise amid Middle East tensions, upcoming Fed insights on monetary policy

Brent crude futures for November delivery rose by 51 cents, or 0.71 percent, reaching $72.49 a barrel

48,735 pensioners and beneficiaries to receive $220 million in September: Date of disbursement revealed by UAE’s GPSSA

This amount reflects a notable increase of AED91,728,008 ($25 million) compared to the same month in 2023

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

Global gold prices set new record high at $2,639.49 on rising Mideast tensions, UAE rates up

Market focus this week remains on Fed members' comments and the release of the U.S. PCE data on Friday

Oil prices surge as China launches economic stimulus amid Middle East tensions, hurricane threat

Brent crude futures for November climbed by 69 cents, or 0.93 percent, reaching $74.59 a barrel

Abu Dhabi’s Jubail Island awards $108.9 million construction contract for Jubail Town Centre

The contract covers four office buildings and two residential structures—Jubail Terraces 7 and 8 

Arcapita and Dgpays consortium acquires majority stake in NEOPAY from Dubai’s Mashreq

The transaction values NEOPAY at approximately $385 million, pending regulatory approvals

Global gold prices set new record high of $2,631.09 on rising geopolitical tensions, UAE rates up

Declining interest rates globally, rising geopolitical tensions in the Middle East and the upcoming U.S. election boost gold to new high

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