DUBAI/WAM DMCC—the world’s flagship free zone and Government of Dubai Authority on commodities trade and enterprise—has announced key performance results in H1 2024, recording 1,023 new member companies, bringing its total to almost 25,000 companies. DMCC now accounts for 15% of all foreign direct investment (FDI) in Dubai, up from 11% last year, and 7% of the emirate’s GDP. DMCC’s …

DUBAI/WAM Nasdaq Dubai has welcomed the listing of US$500 million Sustainable trust certificates issued by Warba Bank, a Kuwaiti Islamic Bank. This is the fourth listing under their $2 billion trust certificate issuance programme. In a statement on Monday, Nasdaq Dubai said, “This is a significant listing, as it marks the first-ever Sustainability Sukuk to be issued in Kuwait in …

VIENNA/WAM The Organisation of the Petroleum Exporting Countries (OPEC) said the UAE’s economy continues to demonstrate robust growth, particularly within non-oil sectors such as real estate, tourism, and manufacturing. In its Monthly Oil Market Report (MOMR) for August 2024, housing, water, electricity, gas, and other fuels – constituting over 40 percent of the Consumer Price Index (CPI) – saw a …