Industry

Saudi Arabia trade balance surplus grows 30 percent to $5.5 billion in October 2024

This represents an increase of over $1.06 billion compared to September

Egypt’s food exports surge to $5.5 billion in first 11 months of 2024

Surpassing the total exports for the entirety of 2023, which were recorded at $5.068 billion 

How UAE is leading in industrial growth and economic diversification

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

Qatar: Private sector exports hit $701.6 million in Q3 2024

This reflects a modest decline of 2.5 percent from QAR2.62 billion ($718 million) in Q2 2024

Egypt reveals $589.8 million initiative to enhance industrial growth, equip private sector

The program targets enterprises in pharmaceuticals, food, engineering, chemicals, textiles, mining, and construction

Saudi Arabia, Oman explore enhancing cooperation in industrial integration, trade

The two countries underscored the importance of advancing economic cooperation and strategic integration between them

CBUAE forecasts real GDP growth: 4 percent in 2024, rising to 5.5 percent by 2026

Non-oil GDP growth is projected to remain robust at 4.9 percent in 2024 and 5.0 percent in 2025

DP World launches Middle East’s first $100 million blue bond to fund sustainable marine transport

Eligible initiatives include reducing maritime pollution, sustainable ports, and water quality

AD Ports appoints Egyptian contractor to build infrastructure for Noatum Ports – Safaga Terminal

The terminal will handle 450,000 TEUs, 5 million tons of dry bulk, and 1 million tons of liquid bulk

ADNOC’s XRG to become new majority shareholder of Covestro

XRG expects the transaction to close in the second half of 2025

DP World begins maritime works on $1.2 billion Senegal port

An economic zone is set to be established near the Ndayane port and Blaise Diagne International Airport

UAE launches unified numbers project to enhance data utilization in policy-making

The initiative provides accurate data on GDP, inflation, foreign investment, and infrastructure rankings 

Space42 signs $5.1 billion contract with UAE government for satellite services

Contract includes the procurement of Al Yah 4 and Al Yah 5 advanced satellites

EMSTEEL takes lead in embracing sustainability

UAE’s leading steel and building materials manufacturer was recently appointed as co-chair of the Alliance for Industry Decarbonization

GASTAT: Industrial Production Index in Saudi Arabia increases by 5 percent in October 2024

This growth is largely attributed to heightened activity in various sectors, including mining and quarrying

AD Ports Group assigned new A1 Credit Rating by Moody’s

The A1 rating is the fifth-highest on Moody’s scale, indicating upper-medium investment grade and low credit risk 

$5.4 trillion in mineral investments needed for energy transition by 2035: Report

Over 70 percent of mineral capital investments are needed for coal, iron ore, copper and gold

UAE surges to 5th place in quality infrastructure for sustainable development index 2024

The UAE also emerged as the second highest-ranking country in the Middle East

ADBW 2024: Abu Dhabi announces Golden Vendor list to boost local procurement in industrial sector

Products and services that are part of the Golden Vendor List will now be integrated into the Abu Dhabi Government's tendering process

Global trade set to reach record $33 trillion in 2024: UNCTAD

This represents a 3.3 percent annual growth rate, showcasing the resilience of international trade amid ongoing challenges

Abu Dhabi’s NMDC LTS signs definitive agreement to acquire 70 percent equity stake in Emdad

The acquisition, pending regulatory approvals, will allow NMDC to expand into oilfield services

dnata Logistics breaks ground on $27.2 million Dubai South warehouse

The new warehouse will handle 400,000 tons of cargo annually, boosting storage capacity by 50 percent and creating over 50 jobs