business

Saudi PIF’s revenues soar 100 percent to $88.22 billion in 2023

The fund swung to a profit of $36.81 billion in 2023, after posting a loss of $15.6 billion a year earlier

Oil prices rise as demand optimism builds ahead of U.S. inventory report

Brent crude futures rose 2 percent to $86.41 per barrel

Dubai launches new mixed-use development project ‘DIFC Square’

The project will expand DIFC's real estate with offices and retail, meeting the demand for prime office space in Dubai's financial district

Saudi Arabia posts record trade surplus of over $11 billion

This represents a 36 percent increase compared to the surplus of $8.1 billion recorded last year

Bahrain’s national non-oil exports reach $838.3 million in May

Saudi Arabia ranked first among export destinations, with BD64 million (20 percent) in national origin exports

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

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

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

Half of all emerging-market debt issued by GCC countries, Malaysia, Indonesia, and Türkiye: Report

In 2024, these countries accounted for 51 percent of U.S. dollar debt issued by EMs (excluding China)

Dubai’s mortgage market at 14-month high: Top areas seeing highest activity

Data indicates a growing trend of buyers, often younger individuals, seeking properties in popular lifestyle and social hubs

Bahrain exceeds global ICT development average, ranks fifth worldwide with score of 97.5

Bahrain's economic leadership and technological progress have catalyzed further innovation and development in this vital sector

Remittance flows to low-middle-income countries moderated in 2023, reaching $656 billion: World Bank

Remittances to LMICs are expected to grow 2.3 percent in 2024, but unevenly across regions

Japanese yen tumbles to 160 against dollar, hitting 37-year low

The strong U.S. dollar is driven by expectations the Fed will keep rates high due to a robust economy

Oil prices fall amid dollar strength; U.S. inventory build spurs demand fears

Brent oil futures for August delivery dropped 0.4 percent to $84.91 per barrel

Top 10 most spoken languages in the world in 2024

Mastering these top languages can open doors to unparalleled personal and professional opportunities

Saudi real estate sector contributes 5.9 percent to GDP, hits $169.5 billion in transactions

The sector recorded more than 280,000 transactions since the beginning of 2024

UAE’s MoF issues Public-Private Partnership Manual, defines priority sectors for first phase

The manual aims to leverage private sector expertise to benefit the government

Dubai secures 12th spot in global wealth and lifestyle report, solidifying position as premier luxury destination

The emirate emerged as the 6th most expensive city in EMEA, attracting wealthy residents with its flourishing economy

Egypt secures $2 billion in budget support from key development partners to boost private sector

During the Egyptian-European Investment Conference, Egypt secured a $1.069 billion agreement with the EU

Saudi Arabia boosts maritime sustainability with new multimillion-dollar waste recycling plant in Jeddah

The project, valued at $8 million, will cover an area of 10,000 square meters

Saudi Arabia’s M&A deal volume surges to $955 million in Q1 2024

The chemicals sector accounted for 52.4 percent of the total

Oil prices dip as dollar rises, investors await key inflation data

Brent oil futures expiring in August fell 0.4 percent to $84.88 a barrel

CBUAE’s gross written premiums up 18.5 percent YoY in Q1 2024 to $5.74 billion

Gross paid claims of all types of insurance plans increased by 18.3 percent YoY to AED8.4 billion in Q1 2024

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