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Oil and gas
Energy
Oil prices rise as U.S. stockpiles shrink, Fed rate cut bets grow
Brent crude oil futures for the October delivery rose 0.5 percent to $81.09 per barrel
Energy
UAE’s ADNOC Drilling to join MSCI flagship indexes, boosting global visibility and investor appeal
The company will become the 12th member of the MSCI UAE index after meeting the necessary criteria
Economy
UAE’s diversified economy maintains robust growth in real estate, tourism, and manufacturing: OPEC
OPEC reported that the housing, utilities, and fuels sector rose to 6.7 percent YoY in June, up from 6.6 percent in May
Energy
Oil prices decline as OPEC lowers 2024 demand forecast amid China slowdown
Global benchmark Brent crude futures dipped 78 cents, or 0.95 percent, to $81.52 a barrel
Energy
Oil prices hold steady amid positive economic data, poised for first weekly gain in five
Brent oil futures slipped 0.1 percent to $79.11 a barrel
Energy
ADNOC Distribution net profit rises 12.9 percent to $170 million in Q2 2024
Company's non-fuel retail gross profit increased by 13.5 percent annually in Q2 2024 to $56 million
Banking & Finance
Fueled by oil prices, government spending, Saudi banks poised for continued success: Report
The operating environment score for the sector has been rated 'bbb+'
Markets
Oil prices inch higher amid tightening U.S. supplies, potential Middle East disruptions
Brent crude futures rose 23 cents, or 0.3 percent, to $78.56 per barrel
Banking & Finance
UAE’s ADNOC L&S reports $401 million net profit in H1 2024, sustained by 42 percent growth in revenues
This represents 31 percent increase YoY
Markets
Oil prices slide on bearish inventory data, persistent global economic slowdown fears
Brent crude oil futures for October delivery fell 0.5 percent to $76.13 per barrel
Energy
Saudi Aramco profits hit $56.3 billion in H1 2024, dividends to reach $124.2 billion
Oil company's revenues reached $220.73 billion in H1, up 0.9 percent from $214.38 billion during the first half of 2023
Banking & Finance
Saudi Arabia’s non-oil sector maintains solid growth in July, PMI at 54.4 amid competitive dynamics
The start of Q3 saw both output and new orders expand to a lesser degree
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