Category: Business

Gold prices drifted higher on Monday, aided by worries that the US could be headed for a recession and rising bets that the Federal Reserve will likely need to start cutting interest rates aggressively.

Spot gold rose 0.14 percent to USD 2,446.83 per…

The Central Bank of Kuwait (CBK) announced on Monday the allocation of issuance of bonds and tawarruq amounting to KD 160 million (about USD 528 million).

The CBK said in a statement carried by Kuwait news agency (KUNA), that the issuance period is t…

ABU DHABI: The value of transactions conducted in the banking sector within the country through the UAE Funds Transfer System (UAEFTS) rose to AED 7.9 trillion during the first five months of 2024, according to the latest statistics from the Central B…

The official price of Omani oil, for delivery in October, reached on Monday USD 74.55 per barrel, a decrease of USD 4.65 (5.78 percent) compared with Friday’s price, which was USD 79.20 per barrel.

It is noteworthy that the monthly average price of O…

Doha: Qatar’s non-energy private sector continued to expand at the start of the second half of 2024, according to the latest Purchasing Managers’ Index (PMI ) survey data from Qatar Financial Centre (QFC) compiled by S and P Global.

Output and new or…

ABU DHABI: ADNOC Drilling Company and Alpha Dhabi Holding announced today that their joint venture Enersol (JV) has agreed to acquire a 100% equity stake in EV Holdings Ltd. (EV) for approximately $45 million from UK-based private equity firm, Dunedin…

Qatari financial services companies recorded further sharp expansions in total business activity and new contracts in July, albeit at softer rates than in June. The seasonally adjusted Financial Services Business Activity and New Business Indexes post…

Oil futures extended losses in today’s session amid market volatility, as fears of a recession in the United States overshadowed concerns that escalating tensions in the Middle East could affect oil supplies.

Asian markets fell as investors abandoned…