Press Dossier   By Date  04/09/2021
DGCX WTI Futures contract draws strong demand
The Dubai Gold and Commodities Exchange (DGCX) registered a high monthly Average Open Interest (AOI) of 161,259 contracts during August.
Oman posts budget deficit of $3.13b in July
Oman posted a year-to-date budget deficit of 1.2 billion rials ($3.13 billion) in July, a 22.2 per cent annual decline in its fiscal shortfall, the ministry of finance said, as the country starts reaping the benefits of fiscal consolidation reforms.
Wealth in Dubai grows by Dh143 billion to nearly Dh2 trillion
Dubai residents became richer by $39 billion (Dh143 billion) during the past year, reaching approximately Dh2 trillion at the end of June 2021.
Easing provisions drive solid recovery in UAE banks’ profits
Profits at large UAE banks surged during the first six months of 2021 after a modest improvement in the operating environment led to lower loan-loss provisions, Moody’s Investor Service said.
ADX signs agreement with Nasdaq on the path to launch derivatives market
Abu Dhabi Securities Exchange (ADX) announced on Wednesday that it has taken a key step toward launching a derivatives market this year by signing an agreement with Nasdaq to deliver marketplace technology solutions, including matching, real-time clearing and settlement technology.
Saudi PIF to become largest shareholder in Emaar the Economic City after debt swap
Saudi Arabia’s Public Investment Fund will own a 25 percent stake in Emaar the Economic City after the sovereign wealth fund took over debt in the company previously held by the Ministry of Finance that was then converted to shares.
Saudi Aramco to resume development of massive Jafurah gas field with $110bn investment, CNBC says
Saudi Aramco is preparing to restart development of the giant Jafurah gas field in the eastern region of the country with plans to invest about $110 billion in the project, according to CNBC Arabiya.
ADNOC secures $1.2bn credit facility with banks
Abu Dhabi National Oil Company (ADNOC) said on Thursday its trading arm has closed a $1.2 billion credit facility with a group of seven local and international banks.
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