Economy

Saudi Arabia’s foreign direct investment rises 5.6 percent to $2.53 billion in Q1 2024

This growth underscores Saudi Arabia's continued appeal to international investors

Renewable energy constitutes 44.7 percent of EU electricity production in 2023: Report

Electricity and gas bills decreased in the second half of 2023

Inflation in Oman rises 0.9 percent in May 2024

Oman's North Al Sharqiyah Governorate saw inflation rise to 2.1 percent, the highest increase regionally

Experts forecast robust growth for the UAE economy in 2024 amid global challenges

In 2023, the UAE's GDP reached AED1.68 trillion, growing by 3.6 percent

Dubai approves $6.8 billion FDI program to attract $176.96 billion in investments by 2033

New initiatives launched to make Dubai one of the world's top three urban economies by 2033.

Saudi Arabia encourages UK investors to enter Kingdom’s sports industry

The sports and entertainment industry in the Kingdom grew at an annual pace of 12 percent between 2018 and 2023

Britain’s GDP expands by 0.7 percent in Q1 2024, but long-term growth outlook remains fragile ahead of election

The economy had contracted for two consecutive quarters in the second half of 2023, indicating a recent recession

Egypt’s FDI inflows drop 13.7 percent in 2023, North Africa sees 12 percent drop: Report

A major FDI push in Africa is the increase in mega greenfield projects with six projects each at a value of over $5 billion

Fitch affirms UAE’s rating at ‘AA-‘; outlook stable

The agency expects non-oil growth of 4.3 percent in 2024

Chinese automakers set to capture 33 percent global market share by 2030: Report

By 2030, Chinese brands are likely to be dominant force around the world, selling nine million units outside China

U.S. GDP growth revised upwards to 1.4 percent for Q1 2024, consumer spending slows

Real GDP increased 3.4 percent in the fourth quarter of 2023

Egypt fulfills $25 billion debt obligations, representing 7 percent of GDP: IIF

Egypt targets 3.5 percent primary surplus, 80 percent debt-to-GDP by 2027

Dubai Chamber of Commerce launches Colombian Business Council

The chamber is working to increase the number of country-specific business councils to help promote Dubai's foreign trade

Fitch affirms Abu Dhabi’s ‘AA’ rating with stable outlook

Abu Dhabi's non-oil activity will remain dynamic, growing 5 percent this year after a 9.1 percent expansion in 2023

Natural gas shortage drives 54 percent surge in Egyptian fertilizer prices

Month-on-month prices reached up to $416.57 per ton in June, compared to $270.83 per ton previously

Capital market, IPO reforms spur growth in GCC asset management industry: Report

According to the report, the regulatory regime pertaining to investment funds is evolving in the GCC

Surviving the sharing economy trend: Strategic moves for the hospitality industry

The sharing economy in travel has seen remarkable growth, reaching a market size of $10.7 billion in the GCC alone by 2024

UAE’s CEPA with Georgia comes into effect

The agreement is expected to more than triple the total value of non-oil trade between the two countries

Egypt’s PM Mostafa Madbouly targets $100 billion exports by 2030

The meeting emphasized on several ways to make Egyptian products more competitive and increase their market share

CEPA council seeks to boost trade ties between UAE and Odisha in India

Trade in sectors such as gems and jewellery, drugs and pharmaceuticals, and fruits and vegetables has jumped following the UAE-India CEPA

11 reasons UAE is the ideal hub to start a business

Unmatched advantages and incentives for business owners make UAE the perfect launch pad

Dubai Business Forum–China to promote investments, bilateral relations

Forum to support both China's 'Made in China 2025' roadmap and the Dubai Economic Agenda

Unleashing the power of tourism: The engine of UAE’s thriving economy

International tourist arrivals expected to increase by 17.3 million between 2024 and 2029