Economy

World Bank approves $146 million grant to restore electricity in Syria

The project will deliver technical assistance to help shape Syria’s electricity sector strategy

How fiscal policy, increased public spending are shaping GCC economic resilience in 2025

Total public spending in GCC countries is projected to reach $542.1 billion in 2025 

UAE Central Bank boosts gold reserves by 19.3 percent to $7.46 billion in Q1 2025

Demand deposit balances surpassed AED1.147 trillion, up from AED1.109 trillion in December 2024 

Fitch affirms UAE rating at AA-, Abu Dhabi at AA with stable outlook

Rating reflects the UAE's moderate consolidated government debt, strong net external asset position and high GDP per capita

Will the GCC introduce personal income tax after Oman makes the landmark policy shift?

Oman's decision marks a milestone for the region, where tax-free personal income has long been a defining feature of the social contract

Non-oil activities in Saudi Arabia surge by 5.3 percent in 2024, reports GASTAT

Non-oil growth indicates positive trends across various economic sectors in Saudi Arabia for 2024

Dubai Chamber of Commerce welcomes 4,543 new Indian businesses in Q1 2025

The wholesale and retail trade sector ranked first, accounting for 36.2 percent of new registrations

Oman becomes first GCC state to impose personal income tax starting 2028

The 5 percent tax will be imposed on a natural person whose total annual income exceeds OMR42,000

Sheikh Mohammed celebrates 25 years of The Executive Office in advancing Dubai’s strategic vision for global leadership

His Highness tours an exhibition highlighting key strategic projects and initiatives of The Executive Office

Bahrain and U.K. ink $2.7 billion strategic investment partnership for carbon reduction, sustainable development

Shaikh Salman bin Khalifa emphasized the enduring strength of relations between Bahrain and the U.K.

Egypt aims for 4.5 percent economic growth as parliament passes FY2025/26 development plan

Real GDP growth is projected to rise from 2.4 percent in FY2023/24 to 3.8 percent in FY2024/25, then to 4.2 percent and 4.6 percent in FY2025/26 and FY2026/27, respectively, according to World Bank projections

Turkey central bank holds interest rates at 46 percent amid geopolitical tensions

Market rates, such as the Turkish Lira Overnight Reference Rate (TLREF), have also aligned in the 46 percent range

Global FDI falls 11 percent in 2024 amid major slowdown in Europe, developed economies: UNCTAD

In too many economies, capital is stagnating or bypassing entirely the sectors that matter most, said UNCTAD

Saudi Arabia’s PIF launches new company to build, operate facilities of Expo 2030 Riyadh

Company plans to lead the transformation of the Expo’s gated area into a global village to serve as a multicultural hub

UAE attracts over $45 billion in FDI in 2024, aims for $354 billion in six years: Sheikh Mohammed

The UAE ranked second only to the U.S. in the number of new FDI projects launched last year

Google contributes over $5.9 billion to UAE economy in 2024: Report

Google’s AI tools significantly enhanced productivity for individuals and enterprises in the UAE 

Bank of England maintains interest rates at 4.25 percent citing a “highly unpredictable world”

Governor emphasized that interest rates are on a gradual downward path for the U.K.

World Bank projects stronger medium-term growth across GCC economies

The GCC's rebound is expected to be fueled by the phasing out of OPEC+ oil production cuts and continued expansion in non-hydrocarbon sectors

ADPIC signs MoUs with top UAE universities to boost infrastructure innovation

The partnerships underscore ADPIC's commitment to fostering innovation, developing local talent, and enhancing knowledge exchange

Future cities in focus: Key takeaways from the final day of ADIS 2025

ADIS 2025 has firmly positioned itself as a leading global forum for infrastructure dialogue, demonstrating Abu Dhabi’s bold and forward-looking urban development agenda

UAE central bank holds interest rates steady, in line with U.S. Fed

After keeping interest rates in the 4.25-4.50 percent range, Fed policymakers signaled that rate cuts are still likely to happen in 2025

UAE, Serbia Presidents discuss strengthening ties in economy, investment and development

Leaders reaffirmed their commitment to further strengthening UAE–Serbia relations and building sustainable economic partnership

UAE economy set to grow 4 percent annually through 2028: S&P Global

The UAE economy's growth is driven by non-oil sector activity and rising oil production

Investopia signs MoU with Uzbekistan to host global talks in Tashkent in 2026

First edition will connect investors and decision-makers in key sectors vital for Uzbekistan's growth