Business
– Oil prices climbed sharply on Friday, with Brent crude touching $110 a barrel for the first time since May. Worries that escalating Middle East tensions could further tighten supplies drove the rally. Brent for December delivery settled up $3.94,
– Egypt received a record $33.9 billion in remittances from citizens working abroad during the first eight months of 2026. The Central Bank of Egypt said on Tuesday, October 13, that inflows rose 27.2% from $26.6 billion a year earlier.
– Oman’s electricity production increased 4.3% year on year during the first eight months of 2026. Total output reached 37,481.8 gigawatt-hours, compared with 35,935.3 GWh in the same period of 2025. The increase amounted to about 1,546.5 GWh. Preliminary figures
– The African Union has formally launched the Africa Credit Rating Agency, known as AfCRA, in Mauritius. The agency will provide credit assessments for African sovereigns, companies, financial institutions and other issuers. Its launch took place in Port Louis during
– Pakistan’s federal state-owned enterprises held about $36.5 billion in debt at the end of December 2025. The total increased 14.3% from a year earlier, adding roughly $4.7 billion at current exchange rates. Pakistan’s Ministry of Finance reported the figures
– The UAE recorded $63.353 billion in outward foreign direct investment during 2025, according to UN Trade and Development. The country’s total outward FDI stock reached $402.729 billion at the end of the year. That figure stood at $55.560 billion