Middle East Archives - International Finance

OPEC+ agrees to delay December 2024 output hike for one month

IFM CorrespondentNovember 6, 2024

by IFM CorrespondentNovember 6, 2024

Due to a combination of rising supplies, weak demand, and declining prices, OPEC+ had already postponed the increase from October 2024...

Economy Featured

IMF projects 4% growth rebound in MENA in 2025 amid geopolitical worries

IFM CorrespondentNovember 5, 2024

by IFM CorrespondentNovember 5, 2024

The IMF has approved USD 13.4 billion in new funding to Middle East and Central Asian countries since January 2024, including for programmes in Egypt, Jordan and Pakistan...

Featured Islamic Finance

S&P, FTSE reports bring cheers for UAE as Islamic Finance witnesses further growth

IFM CorrespondentNovember 5, 2024

by IFM CorrespondentNovember 5, 2024

Dr. Mohamed Damak stated that S&P expects the Islamic Finance sector to grow at a high single-digit rate through 2024 and 2025, fuelled by financing needs in key countries...

Featured Markets

UAE retail giant Lulu sets IPO price range amid Vietnam expansion prospects

IFM CorrespondentOctober 29, 2024October 29, 2024

by IFM CorrespondentOctober 29, 2024October 29, 2024

Lulu, as of October 2024, has an extensive supermarket chain network in over 23 countries, including the Middle East, Asia, and Europe...

Featured Technology

Omani group to set up USD 450 million data centre in Suez Canal zone

IFM CorrespondentOctober 15, 2024

by IFM CorrespondentOctober 15, 2024

Oman Data Park is contributing commercial services to the project, managing the centre's daily operations, supervising the design, and offering advice on construction...

Featured Oil & Gas

Oil slumps 17% in Q3 as Middle East conflict offset by slowing demand

IFM CorrespondentOctober 10, 2024October 10, 2024

by IFM CorrespondentOctober 10, 2024October 10, 2024

The world's second-biggest economy and top oil importer, China, announced fiscal stimulus measures recently, but the impact on oil prices was muted...

Featured Markets

UAE IPOs raise USD 890 million in Q2 2024: Report

IFM CorrespondentAugust 27, 2024August 27, 2024

by IFM CorrespondentAugust 27, 2024August 27, 2024

Notable IPOs on the Saudi Arabia stock market during the quarter included the IPO of Dr. Soliman Abdel Kader Fakeeh Hospital Company, which raised USD 763 million on the Tadawul stock exchange...

Economy Featured

Growth in MENA region to reach 2.2% in 2024: IMF

IFM CorrespondentJuly 23, 2024

by IFM CorrespondentJuly 23, 2024

The IMF report states that these figures have been revised lower than those that were released in April of 2023, which indicated growth of 2.7% in 2024 and 4.2% in 2025...