According to sources, Kazakhstan has increased its oil exports by bypassing Russia.
Kazakhstan, a major oil producer in Central Asia, has increased its oil exports by bypassing Russia, traditionally a key transit country for the country’s crude.
A branch of Ray Dalio’s family office is set to be opened in Abu Dhabi.
Ray Dalio’s move to open a branch of his family office in Abu Dhabi is seen as reflective of his interest in the region and desire to have a positive impact on local communities.
Abu Dhabi Airport expects 500,000 passengers during Eid Al Fitr.
Eid Al Fitr is an important time for the Muslim world, marking the end of a month of fasting and spiritual reflection. Despite the challenges posed by the COVID-19 pandemic, Abu Dhabi International Airport remains open and operational, providing a vital link for travelers during this difficult time.
DAMAC, a UAE-based property developer, sold a $400 million Islamic bond.
DAMAC has successfully sold an Islamic bond worth $400 million, which was heavily oversubscribed and carries a profit rate of 7.25%.
Qatar’s economy growth will slow to 4% by 2023, Standard Chartered predicts.
Qatar has been working to diversify its economy in recent years, investing in sectors such as tourism and finance.
According to the IMF, Saudi Arabia is set to benefit from OPEC production cuts due to a boost in oil prices.
The OPEC+ alliance has been working to limit oil production since early 2017, in an effort to stabilize oil prices.
The Saudi Industrial Development Fund approved $233 million in loans by Q1-2023.
The Saudi Industrial Development Fund (SIDF) has approved loans worth $233 million in the first quarter of 2023.
Dubai Airports is providing assistance to Sudanese travelers impacted by the cancellation of their flights.
Sudanese travelers stranded in Dubai after their flights were canceled due to the political unrest in Sudan have expressed their gratitude for the assistance being provided by Dubai Airports.
Firm oil prices have resulted in a decline of the Indian rupee against the UAE dirham.
Dirham has been a cause for concern among investors in India as the decline in its value against the Indian rupee makes imports more expensive, which could lead to higher inflation and put pressure on the Reserve Bank of India to raise interest rates.
In Dubai, the price of gold has increased slightly due to a weaker US dollar.
The spot price of gold in dubai reached an all-time high of $2,063.47 per ounce in August 2020, before falling back slightly in the following months.