Economics

Saudi Arabia achieves 203.2 percent growth in non-oil trade surplus exceeding $533.2 million

Total non-oil trade volume between Saudi Arabia and GCC countries reached SAR18.028 billion in April 

Tasama: New PIF company to support startups, boost business services growth across Saudi Arabia

Tasama offers a suite of services to support businesses through their startup and growth phases.

UAE’s SCA reveals 55 percent surge in new licenses, 230 percent growth in total assets

New committee aims to harmonize regulatory frameworks and enhance financial ecosystem resilience.

Saudi financial sector achieves 353 listings, 261 fintech companies, and 79 percent digital payment growth

FSDP's 2024 report highlights achievements that enhance resilience and growth in the financial sector 

EU delays retaliatory tariffs on $24.5 billion in U.S. exports amid ongoing trade tensions

EU's retaliatory tariffs on U.S. exports are now postponed until early August, announces von der Leyen

Dubai issues new law regulating contracting activities to enhance oversight, compliance, and transparency

Contractors must comply with new rules or face penalties ranging from AED1,000 to AED100,000

DP World signs 30-year $800 million agreement to revitalize Syria’s Port of Tartus and trade infrastructure

Tartus is Syria’s second-largest port, vital for trade routes across Europe and the Levant

Bitcoin reaches record high of $122k as institutional adoption accelerates ahead of Crypto Week

Institutional investors are adding Bitcoin to their portfolios, viewing it as a safe-haven asset 

Crude oil prices rise above $70.5 as investors watch U.S. sanctions, OPEC+ output

Brent crude futures reached $70.51, while WTI saw gains amid ongoing tariff uncertainty and sanctions

Dubai 24-carat gold price today hits three-week peak at AED404.50 as market reacts to trade fears

Gold prices soared as U.S. trade tensions prompted safe-haven demand among investors

OPEC projects $10.6 trillion investment needed for oil sector by 2040

OPEC Secretary General emphasized the need for balanced policies to achieve energy security and climate goals 

Moody’s upgrades Oman’s credit rating to Baa3 with stable outlook, citing improved debt metrics

Oman’s government debt burden fell to 35.5 percent of GDP, continuing an improvement trend since 2020