Economy

Who is Hussain Sajwani, the billionaire founder of DAMAC group?

Here's all you need to know about Emirati businessman Hussain Sajwani, who founded the DAMAC group in the 1980s

Sheikh Hamdan: Dubai’s enduring public-private partnerships key catalyst for economic growth, global competitiveness

H.H. reaffirmed Dubai's commitment to promoting business growth and sustainable development

78 million new jobs to be generated by 2030, but urgent upskilling needed: Report

Shifting global trends are projected to generate 170 million new jobs by 2030, while displacing 92 million others

Bahrain’s economy grows 2.1 percent in Q3 2024 on non-oil sector expansion

The contributions of non-oil activities to real GDP reached 86.4 percent in Q3 2024

UAE’s Patent Hive initiative to reduce patent registration time to only 6 months

Initiative seeks to reduce the time needed for patent registration from 42 months to only 6 months

Egypt targets 5-6 percent GDP contribution from mining sector

The minister announced plans to launch a Mineral Resources Portal and offer mining areas for investment in 2025 

Geopolitical tensions, instability put brakes on global cooperation: Report

AI and other emerging technologies are reshaping the global landscape and driving upheaval, according to a new report

Egypt’s net foreign reserves surge to $47.109 billion in December 2024

At the close of August 2024, Egypt's net international reserves reached $46.597 billion

BRICS bloc officially welcomes Indonesia as new member

Indonesia joining BRICS enhances collaboration with developing nations based on equality and sustainable development

GCC inflation rate increases 1.5 percent in September on rising housing prices

Among GCC countries, Kuwait recorded the highest annual inflation rate in September at 2.8 percent

How economic growth, rise of AI fuel dynamic labor market in UAE

The country sets a global standard in protecting workers' rights and providing a secure and stable work environment

UAE’s non-oil sector business activity hits 9-month high in December: PMI

The Dubai PMI rose from 53.9 in November to 55.5 in December

Saudi Arabia endorses 2025 annual borrowing plan with $37 billion funding target

This plan outlines key public debt developments for 2024, local market enhancements, and the 2025 funding strategy 

Türkiye’s inflation drops more than expected to 44.38 percent in December

The central bank expects inflation to fall to 21 percent by the end of 2025

Oman forecasts $29 billion public revenue for 2025, 1.5 percent increase from 2024

Projections were informed by critical factors and data, based on an average oil barrel price of $60

Egypt’s economy to grow between 3.5 percent and 4.5 percent in 2025: Report

The IMF expects Egypt's economic growth to increase during 2025-2029 to around 5 percent

Abu Dhabi’s Q3 2024 GDP expands 4.5 percent, marking record quarterly high of $82.2 billion

Non-oil sector grew 6.6 percent, showcasing the emirate's strong economic momentum

Saudi women’s labor force participation hits 36.2 percent in Q3 2024

Among Saudi nationals, the labor force participation grew by 0.7 percentage points in Q3 2024, reaching 51.5 percent

Kuwait Central Bank issues $792 million bond, tawarruq

CBK said that the issuance period is three months with a return rate of 4.125 percent

How UAE is leading in industrial growth and economic diversification

The sector has boosted sustainable growth, competitiveness, and contribution to the nation's GDP

Saudi Arabia’s net FDI inflows rise 37 percent to $4.26 billion in Q3 2024

Net FDI inflows declined 24 percent year-on-year from SAR21.1 billion during the third quarter of 2023

UAE’s real GDP grows 3.6 percent to $239.5 billion in H1 2024

The contribution of non-oil sectors to the country's GDP reached 75 percent

Qatar Tourism: Five million visitors welcomed in 2024

A 25 percent increase in international arrivals compared to 2023