Record high Gold prices amidst expected September FED rate cut
Gold prices continued to notch new records Wednesday, lifted by increasing conviction that the Federal Reserve will cut interest rates...
Economy
Top Middle East sovereign wealth funds invested $38.2 billion in 58 deals
Investments in H1 2024 led by the top Middle East sovereign wealth funds reached$38.2 billion in 58 different deals, according...
Economy
Geostrategy
Russian agricultural products embargo to cause food crisis, says UN
Russian fertilizers and agricultural products must be able to reach world markets "unimpeded" or a global food crisis could strike...
- UN said it is important that all governments and the private sector cooperate to bring Russian agricultural products to market
- The UN chief vowed that his organization would try to "step up" grain exports from Ukraine before the onset of winter
Business
Jordanian, Algerian businesses aim for better trade relations
The Jordanian and Algerian business community agreed to a new vision for the two countries' economic relations, aiming to open...
- The Jordanian, Algerian sides stress on the need to develop action mechanisms to overcome difficulties that mutual trade faces.
- The two sides agree to intensify meetings and exchange delegations' visits to get acquainted with available economic opportunities.
Geostrategy
Two more grain ships leave Ukraine, says Turkey
Two more ships carrying grain have left Ukraine's Chornomorsk port, Turkey's Defense Ministry said on Saturday, bringing the number of...
- Ukraine's Sea Ports Authority said three seaports had begun loading food onto seven ships which would deliver 66,500 tonnes of wheat, corn and sunflower oil.
- The Authority said Ukrainian-origin food would be delivered to France, Sudan, Turkey and the Netherlands.
Market Report
ADX tops Arab region in market value increase, says AMF
The Abu Dhabi Securities Exchange was the leading Arab financial market in terms of performance last week, as its index...
- The AMF said that the market value of Arab stock exchanges rose by 2.5 percent, equivalent to some $110.64 billion at the end of trading last week
- The market value of the 13 Arab stock exchanges listed in the AMF’s database rose to $4.58 trillion at the end of last week
Economy
Arab Monetary Fund forecasts 4.4% GDP growth for Qatar in 2022
The fund said in a report released today that it expect inflation in Qatar will record about 4.3 percent during...
- The fund said in a report released today that it expect inflation in Qatar will record about 4.3 percent during the current year
- The report also expected that the growth rate of Arab economies would collectively about 5.4 percent in 2022
Economy
S&P upgrades Ukraine’s credit score of foreign debt
S&P Global Ratings said that boosting the country's credit score of foreign debt to CCC+ "reflects strong committed international financial...
- S&P's upgrade is based on the assumptions that donors like the US and European Union will continue to provide funding to Kyiv in coming months
- A potential loan agreement with the IMF could also lower pressures on Ukraine
Economy
Qatar’s oil and gas revenues rise 67% in H1 of 2022
Data released from the Ministry of Finance showed that oil and gas revenues increased to $32 billion, compared to $19...
- Data released from the Ministry of Finance showed that oil and gas revenues increased to $32 billion, compared to $19 billion in the first half of 2021
- Total revenues achieved, during the first half of this year, reached $41 billion, with $23 billion coming in the second quarter
Geostrategy
Putin, Macron call for IAEA inspection of Ukraine nuclear plant
Russian President Vladimir Putin and his French counterpart Emmanuel Macron called for independent inspections at the Moscow-occupied Zaporizhzhia nuclear plant,...
- Putin "stressed that the systematic shelling by the Ukrainian military of the territory of the Zaporizhzhia nuclear power plant creates the danger of a large-scale catastrophe.
- As per the Kremlin, both leaders called for experts of the International Atomic Energy Agency (IAEA) to inspect the plant "as soon as possible" and "assess the real situation.
Business
Listed insurance firms’ in UAE net profits at $222m in H1 2022
The total premiums of insurance companies listed in local financial markets in the first half of 2022 increased by 7.64...
- The total premiums of insurance firms listed in local financial markets in H1 2022 increased by 7.64 percent year-on-year to $302 million
- The total net profits of insurance companies listed in local financial markets in H1 2022 totaled $222 million
Business
Weeklong real estate transactions in Dubai amount to $2.8bn
The real estate and properties transactions valued at $2.8 billion (AED10.3 billion) in total during the week ending 19 August...
- A total of 344 plots were sold for $694 million, 2,239 apartments and villas were sold for $1.07 billion
- The top two transactions were a land in Al Wasl sold for $108 million, followed by a land sold for $55 million in Hadaeq Sheikh Mohammed Bin Rashid
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Record high Gold prices amidst expected September FED rate cut
Gold prices continued to notch new records Wednesday, lifted by increasing conviction that the Federal Reserve will cut interest rates...
Economy
Company News
Asian markets swing as US jobs data disappoint
Market Report
Latest News
FAB H1 2023 net profit $2.2bn
Business
Israel sells Arrow 3 missile defense system to Germany for US$3.5bn
TEL AVIV, ISRAEL - Israel's US$3.5-billion sale of its Arrow 3 missile defense system to Germany, sparked by security fears after...
Geostrategy
UAE markets top Arab stock exchanges in trading, says AMF
ABU DHABI, UAE - The financial markets of the United Arab Emirates topped the Arab stock exchanges during last week's...
Market Report
Technical glitch stifles production at Volkswagen
According to financial daily Handelsblatt, production came to a complete standstill in Wolfsburg and at the company's plants in Emden,...
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Business
Masdar and PLN NP to triple size of Southeast Asia’s largest floating solar plant
Abu Dhabi, UAE--Masdar and PLN Nusantara Power (PLN NP) have signed an agreement to develop Phase II of the successful...
- The clean energy partnership between the UAE and Indonesia saw further consolidation when the two companies signed the deal to expand FPV plant
- The UAE company has developed the region’s largest floating solar facility, the 145 MW Cirata floating solar PV plant in a joint ventre with PT PJB, now PLN NP
Business
Markets mostly up but US rate outlook feeds uncertainty
With inflation still sitting well above the central bank's target and the labor market showing few signs of softening, decision-makers...
- All three main indexes on Wall Street tanked Tuesday, shedding more than one percent apiece.
- Asia started on the back foot but most markets managed to eke out gains following a painful start to the week.
Economy
Russian economy to grow 1.5 percent this year, says key European bank
After having forecast a contraction earlier this year in Russia's economy, the European Bank for Reconstruction and Development is now...
- it said the outlook for 2024 will depend heavily on how the war on Ukraine and the related economic sanctions evolve
- Russia's central bank has forecast the country's economy to grow between 1.5 and 2.5% this year and between 0.5 and 1.5% in 2024