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![64 percent of consumers in Saudi Arabia regard Ramadan as opportune time for new purchases: Report](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20683'%3E%3C/svg%3E)
Appetite for spending in the Kingdom soared 46 percent ahead of Ramadan 2024
![UAE, Kenya conclude terms of CEPA to expand trade in multiple sectors](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20683'%3E%3C/svg%3E)
The deal focuses on key sectors, including logistics, healthcare, travel, and tourism
![Unprecedented growth in consumer products sector: Price increases drive surge, exceeding 10-year average](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20683'%3E%3C/svg%3E)
New report finds 75 percent of global growth was due to price increases in 2023
![Saxo Bank CEO in MENA predicts UAE’s economic growth to surpass 5.5 percent in 2024](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20683'%3E%3C/svg%3E)
Tech investments and financial services are driving growth in the country
![Türkiye: New Central Bank Governor holds interest rates steady at 45 percent](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20683'%3E%3C/svg%3E)
The decision was widely anticipated following eight consecutive months of rate hikes
![FedEx inaugurates $350.93 million hub at Dubai World Central](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20684'%3E%3C/svg%3E)
The new facility boasts AI-equipped high-speed X-ray machines
![Major Tesla supplier Forvia to cut 10,000 jobs in Europe](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20682'%3E%3C/svg%3E)
Job cuts will be distributed across France, Germany, Poland, Spain
![Saudi Arabia’s strategic reforms propel it to top spots in Kearney’s Global Retail Development Index](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20683'%3E%3C/svg%3E)
This positive development reflects the Kingdom's strategic shift away from oil dependence
![Saudi Arabia’s GDP soars from $693.27 billion to $1.06 trillion](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20683'%3E%3C/svg%3E)
Saudi Arabia is ahead of investment targets, Saudi Minister of Investment states
![GCC banks’ strong profitability provides robust shield against potential losses from cyber incidents](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20683'%3E%3C/svg%3E)
No significant losses from cyber incidents for rated GCC banks
![ADNOC L&S achieves $620 million in 2023 net profits](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20683'%3E%3C/svg%3E)
A 138 percent YoY increase
![113th Arab Economic & Social Council: UAE reiterates support for joint efforts to achieve sustainable economic development](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20683'%3E%3C/svg%3E)
H.E. Bin Touq highlights UAE’s keenness to strengthen Arab level cooperation in new economy sectors
![AD Ports Group reports $370.28 million in net profit for 2023](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20684'%3E%3C/svg%3E)
Growth primarily driven by the Maritime & Shipping, Ports, Logistics, and Digital Clusters
![Saudi Arabia’s 2023 budget generates $322.6 billion in revenues](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20683'%3E%3C/svg%3E)
Non-oil revenues in 2023 surged by 11 percent YoY
![Saudi Arabia closes February sukuk issuance at $2.09 billion](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20683'%3E%3C/svg%3E)
Issuance was divided into three tranches
![Air Arabia sees net profit rise 27 percent to $408 million in 2023](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20682'%3E%3C/svg%3E)
Driven by expanding operations, new routes fuel growth
![UAE, India forge trans-continental trade corridor agreement](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20684'%3E%3C/svg%3E)
Building bridges, expanding regional connectivity
![WGS 2024: Omar Al Olama launches Building Responsible Artificial Intelligence Forum](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20684'%3E%3C/svg%3E)
AI market to grow by 33 percent in 2024, reaching around $20 billion by 2025
![WGS 2024: OPEC fund commits $27 billion to support 4,000 development projects in 125 countries](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20683'%3E%3C/svg%3E)
UAE played key role in supporting OFID's sustainable development initiatives
![WGS 2024: UAE establishes investment and taxation cooperation agreements with Arab countries](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20683'%3E%3C/svg%3E)
UAE Ministry of Finance and World Bank renew advisory services agreement
![Diriyah project attracts $6 billion in private sector investments](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20683'%3E%3C/svg%3E)
Company to break ground on 11 new assets by the end of 2024
![Rua Al Madinah secures contracts worth over $79 million to drive hospitality industry forward](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20683'%3E%3C/svg%3E)
Deals were signed during PIF Private Sector Forum
![Qatar’s economic growth normalizing: IMF report highlights resilience, favorable outlook](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20683'%3E%3C/svg%3E)
Expansion in LNG production and reforms to drive average growth of 5.5 percent
![ADGM joins International Forum of Independent Audit Regulators](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20683'%3E%3C/svg%3E)
Strengthening regulatory ties across 56 jurisdictions