Economy

Qatar’s non-oil private sector hits fastest growth in a year and a half, PMI reaches 55.9 in June

Companies continued to expand employment and the 12-month outlook remained strong

Dubai to get mega 20 million sq.ft. car market

‘Dubai Car Market’ will be connected with 77 ports managed by DP World around the globe, enhancing its capacity and doubling its current sales of $1.85 billion

Egypt’s non-oil sector sees new business growth for first time in three years, says PMI

June PMI reading confirmed that inflationary pressures on businesses had been greatly suppressed in Q2 of 2024

Eurozone composite PMI drops to 50.9 in June as business growth slows sharply

A strong expansion in the dominant services industry failed to offset a further deterioration in manufacturing

Cost of living in Dubai in 2024: Is it an expensive place for expats?

Despite being a key hub for millionaires, startups and a booming property market, Dubai is affordable compared to other global metropolises

Middle East private jet market makes waves

Private jet provides time efficiency and convenience that commercial airlines don't

Saudi Arabia announces $10 million in aid for Lebanon, inks agreement for 28 projects

Since its launch, KSrelief launched more than 7,000 humanitarian projects with a total value of $129.68 billion in 169 countries

Employment in Kuwait’s non-oil sector grows at the fastest pace since 2018 in June: PMI

New business from abroad also contributed to the rise in total new orders to the highest in seven years

Emerging economies set to dominate future agricultural growth over next decade: Report

India and Southeast Asian countries are projected to account for 31 percent of global consumption growth by 2033.

South Korea’s foreign reserves fall $620 million in June amid currency swap, bond payments

As of the end of June, the country’s foreign reserves stood at $412.21 billion

Economic growth stable but several risks could destroy ‘sandcastle economy’: Saxo Bank

Saxo Bank expects U.S. and European sovereign bond yields to remain range-bound in Q3 2024

U.S. manufacturing PMI slips below 50 in June as demand remains subdued

This marked the 19th contraction in the manufacturing sector over the last 20 months

Saudi Arabia ranks 3rd globally in remittance outflows in 2023: World Bank

Remittances to the Middle East and North Africa (MENA) region declined by 15 percent to $55 billion in 2023

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