business

How China’s economic rise is strengthening the logistics transformation of the Middle East

Saudi Arabia and UAE are the Asian giant’s valuable trading partners

UAE’s non-oil private sector resilient in May, PMI holds steady at 55.4: Report

Firms in the UAE experienced a record increase in outstanding business levels in May, the report highlighted

OPEC oil output rises in May, reaching 26.63 million barrels per day

This represents an increase of 145,000 bpd from April

Oman’s foreign trade exchange surges 12.8 percent in Q1 2024, transactions reach $26.7 billion

Oman's trade balance rose 35 percent to $6.75 billion in the same quarter

Qatar’s non-oil private sector posts robust growth with 53.6 PMI in May

Output and new orders increased at the fastest rates since Q3 2023

Dubai invests over $844 million in Senegal over 13 years: CEO of Dubai Chambers

These investments have created more than 1,200 jobs in the Senegalese market

Egypt targets $30 billion in foreign direct investment in 2024/25 budget

The country's general budget indicators show that total revenues are expected to be EGP2.6 trillion

Bahrain’s women empowerment index rises 30.6 percent since 2018, 50 percent surge in workplace and pension indicators: Report

The Kingdom achieved a full 100 score on expert opinions related to women starting and running a business

Egypt’s economy forecast to grow by 4.2 percent in 2025 on increased investment, exports, and consumer spending

The pound devaluation and foreign investments alleviated the country’s currency crisis

UAE’s GDP reaches $457.38 billion in 2023, 3.6 percent growth from previous year: Minister

The non-oil GDP stood at $340.3 billion, up 6.2 percent compared to 2022

Egypt’s trade balance deficit falls 23.2 percent to $2.37 billion in March

The value of exports fell 10.9 percent year-over-year to $3.57 billion in March 2024

Saudi Arabia’s non-oil exports rise 3.3 percent to $18.6 billion in Q1 2024

The total value of commodity exports stood at $77.77 billion

Sharjah’s GDP surges 6.5 percent to $39.5 billion in 2023

Non-oil sectors also saw a significant 7.1 percent increase, reaching $38.79 billion in 2023

Fitch upgrades Ras Al Khaimah to ‘A+ with stable outlook, forecasts 6.2 percent growth in 2024

The revision reflects the emirate's improved credit metrics driven by stronger medium-term growth forecasts

Egypt welcomes 4.6 million tourists in first 4 months of 2024, generating $4.3 billion in revenues

In 2023, Egypt received a record-breaking number of tourists, reaching 14.906 million

Dubai World Trade Centre’s economic output soars 40 percent to $4.97 billion in 2023

DWTC hosted 76 events with 1.54 million attendees, 46 percent international

Qatar announces $549.2 million budget surplus for Q1 2024

MoF stated that this surplus was directed towards reducing public debt, and therefore there was no cash surplus

Four Egyptian banks receive positive outlook on improved foreign currency liquidity: Report

These revisions reflect reduced pressures on these banks' capital ratios in the upcoming FY2024/2025

Moody’s affirms Kuwait A1 rating, stable outlook

Solid budget and financial buffers, but reforms needed to reduce oil dependence

Egypt’s exports to Arab nations up 8.7 percent in 2023, reaching $13.6 billion

Saudi Arabia topped the list of Arab countries importing the most from Egypt during the year