Middle East

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

Oil prices gain slightly as OPEC weighs output delay amid falling U.S. stockpiles

Brent crude futures for November rose by 15 cents, or 0.1 percent, to $72.85

Dubai welcomes 10.62 million international tourists in first 7 months of 2024

Western European countries topped the list of tourists to Dubai, with about 2.086 million visitors

Oil prices decline amid potential return of Libyan supply to the market

Brent Oil Futures fell by 4.9 percent, closing at $73.75 per barrel

Travel industry set to add record $11 trillion to global GDP in 2024

The industry's contribution to global GDP is expected to rise by 12.1 percent year-over-year

Air Arabia to launch five weekly non-stop flights to Warsaw starting December 20, 2024

This addition makes Warsaw the second city in Poland to be served by Air Arabia, following Krakow

Oil prices plummet amid China’s economic slowdown, ongoing Libyan supply issues

Brent crude futures had fallen by 37 cents, or 0.48 percent, settling at $77.15 a barrel

MENA information security spending to grow 14 percent to $3.2 billion in 2025: Gartner

Gartner expects global information security end-user spending to reach $183.9 billion this year

UAE gold prices flat, global rates down on smaller Fed rate cut bets

The U.S. personal consumption expenditures (PCE) price index rose 0.2 percent in July, in line with expectations

Oil prices drop as OPEC+ production rises, demand weakens

Brent crude futures dropped by 61 cents, or 0.8 percent, settling at $76.32 a barrel

Global video game market expected to reach $257 billion by 2028: Key trends and insights

Over 25 percent of revenue invested in marketing by companies under $1 billion

Dubai, Abu Dhabi ranked best destinations for executive digital nomads: Report

The two cities attract hybrid finance and consultancy executives with excellent connectivity and high living standards

UAE gold prices down, global rates set for monthly gain as focus shifts to U.S. economic data

Gold prices gained almost 3 percent in the last 30 days, marking their second consecutive monthly gain

UAE gold prices up, global rates rise as traders await U.S. jobs, inflation data

Traders priced in a 65.5 percent chance of a 25-basis-point cut and a 34.5 percent chance of a bigger 50-basis-point reduction

Oil prices steady amid smaller U.S. inventory draw, Libya’s supply concerns

Brent oil futures for October delivery dipped slightly to $78.62 a barrel

$2.3 trillion crypto market reaches new heights, 95 percent more millionaires: Report

The count of Bitcoin millionaires has surged by 111 percent to reach 85,400

Oil prices rise on strong API data, ongoing supply concerns

Brent crude futures set to expire in October rose by 0.5 percent to $79.92 a barrel