The wire
ADGM's recognition of Tether Gold as an accepted spot commodity marks a significant regulatory step for digital-asset trading in the Gulf. On the cost-of-living front, Dubai's June inflation held at 5.7%, though Emirates NBD expects the rate to ease from here. Meanwhile, Saudi banks are on track for another quarter of record profits, supported by lower funding costs and improving deposit ratios — broadly positive news for GCC banking customers and investors.
Top stories
Gulf Business
ADGM recognises Tether Gold under spot commodities framework
Abu Dhabi Global Market has classified Tether Gold (XAU₮) as an Accepted Spot Commodity, opening the door for authorised firms to trade it within the free zone.
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Enterprise AM
Dubai inflation hits 5.7% in June; Emirates NBD sees peak passed
Dubai's headline inflation rate reached 5.7% in June, driven by fuel and airfares, but Emirates NBD says the monthly pace is the slowest since February and expects a gradual easing ahead.
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Arabian Business
Saudi banks on track for record Q2 profits on lower funding costs
EFG Hermes forecasts 5% annual growth in combined Q2 net profit for Saudi Arabia's listed banks, with lower funding costs and improving loan-to-deposit ratios supporting margins.
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