Qatar's sukuk issuances increased by an impressive 122% in the first half of 2024, reaching $500 million, according to Fitch Ratings. With bond issuance also up by 59% year-on-year to $12.4 billion, the debt capital market is expected to stay stable thanks to ongoing government debt repayments. This surge is partly driven by the Qatar Central Bank's ESG strategy, aiming to boost sustainable finance, bringing ESG debt to $3.8 billion by mid-2024.

Meanwhile, in Saudi Arabia, the Ministry of Commerce has shut down a perfume retailer for using prohibited names and prominent figures in their marketing. The violations, which occurred both in physical stores and on social media, prompted legal penalties and the removal of infractions. Such breaches of e-commerce laws can lead to fines of up to one million Saudi riyals and potential business closures.

On another note, the General Directorate of Civil Defense in Saudi Arabia has issued a warning about significant rainfall and potential flash floods. Thunderstorms are expected to bring heavy rain from Monday through Friday, affecting several regions including Makkah, Taif, Maysan, Al-Baha, Asir, Jazan, and Najran. The public is urged to stay safe, avoid flood-prone areas, and follow safety instructions disseminated via media and social platforms.

In related news, Saudi authorities have conducted a series of drug-related arrests and confiscations across the Kingdom. Border Guard patrols in Jazan intercepted 320 kg of qat, and arrests in Asir included Ethiopians smuggling regulated medical tablets and firearms. Seizures in Hail, Jouf, and Jeddah involved hashish and amphetamine tablets, with all suspects and confiscated items handed over to the authorities.

Across the Red Sea, Egypt's Foreign Minister has called on the UN for a more active role in resolving the Gaza crisis. Speaking at the 79th UN General Assembly, Badr Abdelatty stressed Egypt's opposition to any solution displacing Palestinians and called for a renewed effort towards a two-state solution. He also urged UN agencies to deliver aid to Gaza and ensure the protection of Palestinian rights through adherence to international law.

Lastly, the United Nations has echoed calls to address the dire humanitarian crisis in Gaza, where the ongoing conflict has caused immense suffering. UN officials emphasized the need for safe humanitarian access, noting over 500 attacks on healthcare and nearly 300 aid workers killed since the conflict began. With over 41,000 Palestinians dead and 2.1 million in urgent need of food and healthcare, the call for immediate action in Gaza is clear.