Author: Steven Sahiounie

Demand for rental properties remains high, mainly in expat-friendly locales, the report said The total value of real estate transactions in Bahrain rose 1.9% to 814 million Bahraini dinars ($2.16 billion), supported by a 5.1% rise in volume in the first nine months of 2023, Knight Frank said in its latest report, “Bahrain Real Estate Market Review – Autumn 2023.” The higher growth in transaction volumes compared to transaction values suggests a decline in prices, Faisal Durrani, Partner – Head of Research, said in a report. “Villa developments have continued to captivate buyers, with average sales prices in the mid-end…

Iranian FM Hossein Amir-Abdollahian says the visas were issued at 1:00 a.m. today which made it impossible to attend the UNSC meeting this morning. Iranian Foreign Minister Hossein Amir-Abdollahian told IRNA on Wednesday that the Iranian delegation was unable to attend the United Nations Security Council’s (UNSC) meeting on the Israeli aggression on Gaza as a result of the US impeding the issuance of visas for Iranian diplomats. Amir-Abdollahian stated that the visas were issued at 1:00 a.m. today which made it impossible to attend the UNSC meeting this morning. He noted that the efforts to sustain the ceasefire in Gaza continue and stressed…

The Qatari index was down for a sixth consecutive session and ended 0.2% lower Most stock markets in the Gulf were subdued on Wednesday amid volatile oil prices, as investors remained cautious ahead of a crucial OPEC+ meeting to decide output policy in the coming months. Oil prices – a key catalyst for the Gulf’s financial markets – rose 1.2% on Wednesday with Brent trading at $82.69 a barrel by 1340 GMT, as supply disruption caused by a storm in the Black Sea and lower U.S. inventories drove buying. The OPEC+ group comprising the Organization of the Petroleum Exporting Countries…

According to Recep Tayyip Erdogan, Turkey “will use all available means to hold the Israeli government accountable to international law and the conscience of humanity” Israeli Prime Minister Benjamin Netanyahu has gone down in history as the “butcher of Gaza,” Turkish President Recep Tayyip Erdogan said. “Since October 7, our brothers and sisters in Gaza have been subjected to the most treacherous attacks in human history. Their mosques have been bombed. Their schools have been reduced to rubble. The refugee camps where they have sought shelter have been deliberately targeted. Netanyahu has went down in history as the butcher of…

The grouping of developed industrialised countries said it sees global growth slowing to 2.7 percent next year The world economy is likely headed for a soft landing next year, the OECD said Wednesday as it pared back its growth forecast, but warned the Israel-Hamas conflict could throw a spanner in the works. In its latest economic outlook, the Organisation for Economic Co-operation and Development trimmed its forecast for global growth this year to 2.9 percent, down from the 3.0 percent it forecast in September. The grouping of developed industrialised countries said it sees global growth slowing to 2.7 percent next…

Spot gold fell 0.1% to $2,039.69 per ounce by 1215 GMT, after hitting its highest since May 5 Gold prices edged lower on Wednesday due to a slight uptick in the dollar, although hopes that the U.S. Federal Reserve would likely cut interest rates by the first half of next year kept bullion near a seven-month peak. Spot gold fell 0.1% to $2,039.69 per ounce by 1215 GMT, after hitting its highest since May 5. U.S. gold futures for December delivery were up 0.1% at $2,040.90 per ounce. “A weaker US dollar and lower interest rates following slightly more dovish…

Comments from Fed official Christopher Waller flagging a possible rate cut in the months ahead sent U.S. bond yields and the dollar sliding on Tuesday The U.S. dollar rose slightly on Wednesday after falling to its lowest in more than three months on hopes that the Federal Reserve will soon cut rates, while the euro slipped as data showed European inflation cooled in November. Comments from Fed official Christopher Waller flagging a possible rate cut in the months ahead sent U.S. bond yields and the dollar sliding on Tuesday. “(Waller’s) relatively hawkish, historically speaking, so if his attitude is turning…

The program targets boosting Dana Gas’ production in Egypt by about 30 million cubic feet of natural gas per day Dana Gas will inject investments worth around $43 million into the Egyptian market in 2024, CEO Richard Hall revealed. The planned investments come as part of the company’s drilling program for next year, under which it plans to drill 11 development wells and three discovery ones. The program targets boosting Dana Gas’ production in Egypt by about 30 million cubic feet of natural gas per day. This came during a meeting between Minister of Petroleum and Mineral Resources Tarek El-Molla…

The world could witness an average annual increase in GDP of 1.5% by 2050 under the 1.5°C pathway compliant with the Paris Agreement, IRENA said The energy transition is expected to create 40 million additional jobs in the energy sector by 2050, with 18 million more jobs globally in renewables alone, according to the International Renewable Energy Agency (IRENA). Also, the world could witness an average annual increase in GDP of 1.5% by 2050 under the 1.5°C pathway compliant with the Paris Agreement, when compared to the Planned Energy Scenario, IRENA said in a new report released ahead of the…

C4IR UAE is a product of collaboration between the Dubai Future Foundation and the World Economic Forum The UAE Centre for the Fourth Industrial Revolution (C4IR UAE) today hosted an influential gathering of leaders from 11 global C4IR networks for the first time in Dubai, marking a significant milestone in the collaborative efforts of the C4IR network. C4IR UAE is a product of collaboration between the Dubai Future Foundation and the World Economic Forum. In attendance were representatives from the global C4IR networks and delegates from the World Economic Forum. Khalfan Belhoul, CEO of Dubai Future Foundation, which oversees C4IR…