Economy

French investments in Egypt reach $7.2 billion through 940 companies, says PM Madbouly

France to host the Egyptian-French Business Forum to support and enhance Egyptian exports to France

UK startups raise $6.8 billion in venture capital funding in 2024, lead in GenAI sector in Europe

Deal volume in the UK during January-May 2024 was in line with the global trend

GCC’s 2024 growth forecast lowered to 2.2 percent on extended oil output cuts

ICAEW has also lowered its 2024 inflation forecast for the GCC region to 2.2 percent this year and 2.1 percent next year

Oman’s producer prices decline 1.7 percent in Q1 2024

Decline in crude oil and natural gas prices prompts 1.4 percent decline in Oman's mining and quarrying sector prices

U.S. proposes regulations to restrain investments in China’s AI, tech sector

The executive order directed the regulation of specific US investments in semiconductors and microelectronics, AI and quantum computing

UAE Central Bank revises inflation forecast downwards to 2.3 percent in 2024

Dubai's headline consumer price index inflation averaged 3.4 percent annually in Q1 of 2024

World Bank announces $700 million in financing for Egypt

The support aims to boost Egypt's private sector, fiscal resilience, and green growth

UAE ranks 2nd in global greenfield projects, attracts $30.688 billion in FDI

In 2023, the United States emerged as the primary source of greenfield FDI inflows into the UAE at $3.78 billion

Asia’s developing economies home to 60 percent of world’s mega projects: Report

Total deals in West Asia increased to 94 in 2023 from 50 in 2022, with values growing by 32 percent to $57 billion

Bahrain attracts record FDI inflows of $6.8 billion in 2023, with UAE as third biggest contributor

Bahrain's FDI stocks relative to GDP stood at 99.7 percent as of the end of 2023

Global FDI down 2 percent to $1.3 trillion in 2023: Report

While prospects for 2024 remain challenging, modest growth for the year remains possible

UK’s BoE leaves 5.25 percent interest rate untouched, pound weakens below 1.27 against US. dollar

Seven MPC members voted to hold the 5.25 percent rate, while two preferred a 0.25 percentage point cut to 5 percent

Dubai DET appoints Dr. Marwan Alzarouni as Chief AI Officer

Upon his appointment, Dr. Alzarouni emphasized the goals of Dubai's AI Blueprint

Qatar rises to 11th place on 2024 World Competitiveness Booklet

Qatar ranked first globally in both the effectiveness of corporate boards and the migrant stock

UAE to welcome a record 6,700 millionaires in 2024, ranks 1st globally in millionaire inflows: Report

An unprecedented 128,000 millionaires are expected to relocate worldwide this year

UAE ranks 7th globally in 2024 World Competitiveness Report

The UAE is now ahead of Norway, Iceland, Japan, Canada and Finland

Global food import bill to exceed $2 trillion in 2024: Report

Favourable macroeconomic conditions, including steady global economic growth and lower food commodity prices, drive projections

UAE President Sheikh Mohamed arrives in Italy to attend G7 session on AI and energy

Visit underscores the UAE’s commitment to strengthening dialogue and international cooperation in addressing global challenges

Saudi Arabia’s GDP growth of 1.4 percent higher than G20 average in Q1 2024: Report

Türkiye recorded the highest growth at 2.4 percent in Q1 of 2024 followed by India at 1.9 percent

Dubai’s DMCC attracts over 160 new Indian businesses as bilateral trade up 16 percent in 2023

UAE expects bilateral trade with India to reach $100 billion within the next five years

UAE GDP growth to climb to 3.9 percent in 2024: Central Bank

The non-oil sector is expected to grow 5.4 percent during the year

Abu Dhabi Finance Week returns in December under the theme ‘Welcome to the Capital of Capital’

This year’s strategic theme aims to unravel the key facets of Abu Dhabi’s strength and value proposition

US Federal Reserve keeps interest rates steady

The Fed had set the benchmark policy rate in the 5.25-5.50 percent range last July