Economy

World Bank sees growth on the horizon in the GCC

The report highlights Oman’s fiscal consolidation as a noteworthy example despite it having one of the lowest projected growth rates in the region

Sheikh Mohammed launches AI-driven strategic planning cycle to achieve ‘We the UAE 2031 Vision’ 

H.H. highlighted proactiveness and future readiness as pillars of effective governance 

Abu Dhabi’s Crown Prince to lead UAE delegation at 17th BRICS Summit on July 6-7

UAE joined BRICS in August 2023, enhancing its foreign and economic policy landscape significantly 

Trump’s tariff delay sparks market reactions, hints at trade clarity: Saxo Bank

A 90-day delay on tariffs provides time for negotiations, aiming for clarity in trade deals

UAE and Bahrain discuss strengthening bilateral ties, commitment to development and prosperity

The dialogue focused on enduring cooperation, exploring ways to strengthen relationships for mutual progress

Abu Dhabi’s GDP grows 3.4 percent to $79.2 billion in Q1 2025, driven by 56.2 percent from non-oil sector

Manufacturing sector led non-oil economy with over $7.75 billion value added during the quarter

Dubai’s AI revolution: What are the jobs of tomorrow and those being left behind?

As Dubai accelerates its embrace of AI and digital transformation, several traditional job roles are poised for significant disruption

Kuwait’s non-oil PMI sees record employment growth amid increasing new orders

The S&P Global PMI fell to 53.1, indicating solid improvement in Kuwait's non-oil sector

Saudi Arabia’s non-oil PMI climbs to three-month high of 57.2 in June as hiring growth surges

Employment levels surged sharply, marking the fastest rate of job creation since May 2011 

UAE’s non-oil sector grows in June despite regional tensions impacting supply chains: PMI

The UAE's PMI rose from 53.3 in May to 53.5 in June, indicating a solid improvement in the sector's health

More than 4,000 benefit from Qatar’s tax exemptions worth $247 million, says tax authority

Initiative was launched to support business growth and national economic policies

Abu Dhabi’s SME Champions Program facilitates over 650 deals worth $183 million in 2024

The number of registered companies grew from 835 in 2023 to 2,235 in 2024, with the strategic partner count increasing to 20

BlackRock releases 2025 Midyear Global Outlook amid market uncertainty

BlackRock believes this era offers better opportunities than the relatively static conditions of the past decade

Mohammed Bin Rashid Innovation Fund launches new headquarters to boost government innovation

To date, the fund has issued government-backed guarantees exceeding AED43 million to help members scale their ventures

Fed’s Powell sparks July rate cut hopes with ambiguous comments

When asked whether July was too soon for a rate cut, Powell responded that he "can't say"

Oman and Egypt sign seven agreements to boost cooperation in trade, investment, labor

Talks aimed at strengthening bilateral relations align with directives from leaders of both nations

Economic recessions: What are the causes, consequences, and recovery strategies?

Rising tariffs and inflation pose significant risks to economic stability in the coming years

UAE, Korea Presidents discuss strengthening special strategic partnership

Leaders seek stronger cooperation in economy, investment, energy, education, defense, technology and sustainability

ADIO, DMT announce tender for development of new community markets in Al Dhafra

The four locations set for development in Al Dhafra include Al Marfa, Bayah Al Sila, Madinat Zayed and Ghayathi

Average inflation in GCC countries declines to 1.7 percent reflecting effective economic policies

Economic policies effectively managed inflationary pressures, contributing to stability in the region 

Qatar reports $49.85 billion GDP growth driven by non-hydrocarbon activities in Q1 2025

Non-hydrocarbon economy contributed 63.6 percent to GDP, showcasing strong diversification efforts

Amazon UAE and 7X join forces to accelerate sustainable last-mile delivery

The initiative is designed to address the rising demand for rapid access to everyday essentials such as groceries, personal care items, electronics, and household goods

MENA business travel to grow 6.1 percent in 2025, market to hit $270.8 billion by 2030

April and May were the busiest months in the first half of the year, largely due to the return of business travel after Ramadan

How does the IMF finance itself? $1 trillion lending capacity’s impact on global economy

The IMF's administrative expenses are fully covered by income from lending and investments