Gross banks’ assets jump to US$988 billion in November: CBUAE

• Gross credit increased due to 0.8 percent rise in domestic credit, overriding the 1.7 percent reduction in foreign credit
• Domestic credit grew because of 0.4 percent, 2.0 percent and 0.7 percent climbs in credit to the government sector, public sector (government related entities) and private sector

Central Bank of Bahrain’s treasury bills oversubscribed by 208%

• The bills, carrying a maturity of 91 days, are issued by the CBB, on behalf of the government of Bahrain
• The weighted average rate of interest is 5.84% compared to 5.88% of the previous issue on January 18

Oil prices retreat but remain buoyed by bullish China outlook

Hosting COP28 gives important message to the world: UK minister

• Grant Shapps, UK’s Secretary of State for Business, said British companies, such as BP، are helping the UAE with the transition to clean energy
• He said the UAE has invested already in wind power in the United Kingdom, which has built one of the world’s biggest wind power projects

First phase of ‘Sustainable City’ project sells out in a day

• Sales at the first phase of the sustainability-centric community reached over $272 million
• A total of 512 homes were available during the first phase of the project, with 76 percent of the units purchased by expatriates, of which 24 percent were overseas investors

Qatar and EU discuss ways to enhance economic and trade ties

• The two discussed the private sector's role in activating trade and investment exchange.
• Al Kuwari noted that there are mega Qatari investments in a number of European countries such as France, Germany, and others.

Investments in Jordan industrial estates rise 19 percent in 2022

• Jordan Industrial Estates Company said that 27 of the new investments were in the service sector, with a growth rate of 26 percent.
• The remaining 147 new investments were in the industrial sector, with a growth rate of 7 percent over the previous year, JIEC said.

Camel beauty contest season gets underway in Abu Dhabi

• The festival aims to preserve and develop heritage activities, and enable camel owners to continue the tradition of breeding and caring for camels
• The event will continue until February 2 at Madinat Zayed in Al Dhafra

QDB unveils green financing

• QDB Acting CEO said that supporting sustainability through this and other programs is part of the bank's strategy to support environmentally friendly projects
• QDB will finance 80 percent of a project's total cost for companies that will produce final green products with a positive and sustainable environmental impact

Masdar to build 5-gigawatt renewable energy projects in Africa

• The agreements were signed under the umbrella of the Etihad 7 initiative to invest in the development of Africa’s renewable energy sector
• Etihad 7 was launched at ADSW 2022 by Sheikh Shakhboot bin Nahyan bin Mubarak Al Nahyan, Minister of State, with the aim of achieving 20 GW capacity to supply 100 million people