Oil may rise to $100, gold to hit $3,000 by 2025, says Citi
ABU DHABI, UAE - Oil prices could rise to $100 per barrel and gold prices could reach $3,000 per ounce...
Economy
Construction in China-Saudi Arabia ethylene project begins
FUZHOU, CHINA - Construction of the main complex of a joint-investment ethylene project, which involves petrochemicals giant Saudi Basic Industries...
Business
Business
UAE, China discuss strategic ties, common concerns
The two countries also reviewed bilateral partnership and cooperation in confronting the Covid-19 pandemic.
- Sheikh Abdullah bin Zayed Al Nahyan, the Minister of Foreign Affairs and International Cooperation attended the discussions for the UAE
- He spoke on the phone with Wang Yi, State Councilor and Foreign Minister of China
Economy
Non-oil sectors fuel Saudi economic growth
Amidst forecast of economic recovery of Saudi Arabia, a few sectors that have driven the Kingdom's Q2 growth include real...
- The overall Saudi Arabia's GDP in Q2 of 2021, according to the General Authority for Statistics, has been 1.8 percent
- The robust growth was witnessed in real estate (12 percent), non-oil manufacturing (15 percent), and wholesale, retail trade restaurants, and hotels (16.9 percent)
Business
Innovation, partnerships put Dubai at forefront of financial markets: Analysis
DUBAI: Innovative initiatives and partnerships along with a series of regulatory reforms have placed the financial markets industry in Dubai...
- Dubai Competitiveness Office cited DIFC's example, which was ranked amongst the top 15 global financial centers consistently.
- Financial market ecosystem in the emirate is well-positioned to enable capital flows.
Business
Saudi Arabia reaches out to France for stronger economic ties
The move aims to further enhance bilateral investment relations by making use of the opportunities offered by Saudi Vision 2030.
- The Minister of Investment of Saudi Arabia, Khalid bin Abdulaziz Al-Falih, is on an official visit to France
- He is accompanied by a high-level Saudi delegation from government agencies, national companies, and representatives of the private sector
Economy
Lebanon’s only suicide hotline inundated
There are dozens of such calls every day, and around 1,100 a month, in a nation that has seen an...
- There are dozens of such calls every day, and around 1,100 a month, in a nation that has seen an exodus of healthcare specialists to treat anxiety, depression and psychosis
- The number of children phoning in has also risen, with people under the age of 18 accounting for 15 percent of callers in July, up from less than 10 percent in previous months
Economy
US, EU step up Yemen aid but UN warns millions face hunger
The United States promised an additional $290 million but said the ultimate solution was to end the war
- The United States promised an additional $290 million but said the ultimate solution was to end the war
- Oxfam said around $600 million was pledged in total, although the UN plea for $3.9 billion to help Yemen was still underfunded by around $1 billion
Business
Dubai records $327m realty deals in week ending Wednesday
The deals consisted of 266 real estate sales transactions worth AED849.88 million.
- August 2021 was the second-highest month since December 2013 in terms of the number of sales transactions in one month.
- The real estate market in Dubai is seeing sustained growth in the run-up to Expo 2020 Dubai.
Economy
UAE, India talk on Economic Partnership Agreement
It is the second deal that Dr. Al Zeyoudi is pursuing this month, following negotiations with Indonesia, as the UAE...
- Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, is in New Delhi to discuss trade and investment relations
- It is the second CEPA deal that Dr. Al Zeyoudi is pursuing this month, following negotiations with Indonesia, as the UAE accelerates its global trade agenda
Economy
Dubai approves $17.7 billion over 20 years for citizens’ housing
The outlay is for the next 20 years, Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum said.
- The government intends to increase the number of beneficiaries fourfold.
- In 2020, Abu Dhabi government announced $2 billion worth of housing loans, homes and land to more than 6,100 citizens.
Business
Iraqi cement-makers angry at fuel subsidy cut
The oil ministry earlier this month raised the price of fuel sold to cement manufacturers from 150 dinars per litre...
- The measure has caused industry outrage in the crisis-hit country, where some regions are still waiting for post-war reconstruction
- The subsidised fuel price for cement manufacturers was originally approved in exchange for their commitment to cap the price of cement
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Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
Oil may rise to $100, gold to hit $3,000 by 2025, says Citi
ABU DHABI, UAE - Oil prices could rise to $100 per barrel and gold prices could reach $3,000 per ounce...
Economy
Company News
Latest News
Availability of government sukuks boosts investment options for Islamic banks: Fitch
Doha, Qatar--The increasing availability of government sukuk and Islamic liquidity management tools by the Qatar Central Bank supports liquidity management...
Economy
International Security Alliance seizes drugs worth US$750mn in global operation
Abu Dhabi, UAE--The International Security Alliance (ISA) has seized narcotics estimated to be worth US$750 million from a large transnational...
Geostrategy
Qatar Chamber signs MoU with Argentina Chamber to boost economic ties
Doha, Qatar-- Qatar and Argentina are looking to bolster ties and in this regard Qatar Chamber of Commerce and Industry...
Economy
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Economy
Top Abu Dhabi firms to attend Europe’s asset and wealth management conference
Abu Dhabi, UAE-- Prominent Abu Dhabi companies are taking part in Impower Fund Forum, the largest asset and wealth management...
- Set to take place in Monte Carlo, Monaco, it is considered to be the largest asset and wealth managment conference in Europe
- The forum will be an opportune platform for Abu Dhabi companies to showcase their accomplishments and engage with industy players
Economy
UAE national banks provide $11bn in financing to commercial, industrial sectors
Dubai, UAE - National banks in the UAE have increased their credit financing to the business and industrial sectors by...
- The data reveals that the UAE banks provided a total of $201 billion to the business and industrial sectors by April 2023
- Traditional banks were the primary source of credit financing for these sectors, providing $184 billion or 82.5 percent of the total
Economy
HNWIs’ wealth in Middle East grows despite slowdown
Despite a global economic slowdown in 2022, high-net-worth individual wealth in the region experienced growth on the back of strong...
- Despite a global economic slowdown in 2022, high-net-worth individual wealth in the region experienced growth on the back of strong earnings in the oil and gas sectors
- Globally, HNWI wealth and population declined, with North America experiencing the sharpest decline. HNWIs have shifted focus to value and prioritized wealth preservation