Economics

China’s property giant Evergrande ordered to liquidate by Hong Kong court

China’s property giant Evergrande ordered to liquidate by Hong Kong court

As debt talks fail

Egypt explores issuing bonds in Emirati dirhams and Indian rupees, minister says

Egypt explores issuing bonds in Emirati dirhams and Indian rupees, minister says

Part of strategy to diversify financing options by targeting multiple markets

Omani banks’ net profits surge 18.6 percent to $1.17 billion in 2023

Banking & Finance

Omani banks’ net profits surge 18.6 percent to $1.17 billion in 2023

Favorable local indicators drive positive outcome

Dubai launches $136 million initiative to boost SMEs’ global expansion

Banking & Finance

Dubai launches $136 million initiative to boost SMEs’ global expansion

Initiative to offer competitive financing for local SMEs at competitive rates

Wall Street braces for a testing week

Wall Street braces for a testing week

Fed’s decision, companies' profits, and economic data all in focus

Egypt’s foreign-currency position under further strain due to Red Sea crisis: S&P

Egypt’s foreign-currency position under further strain due to Red Sea crisis: S&P

Anticipated devaluation of the pound beyond the current exchange rate

Davos: UAE ranks fourth globally in infrastructure quality

Davos: UAE ranks fourth globally in infrastructure quality

Country set to invest $2.45 billion to develop 127 projects over next 5 years

Saudi Arabia’s National Biotechnology Strategy launched with a projected cumulative GDP impact of $34.66 bn

Saudi Arabia’s National Biotechnology Strategy launched with a projected cumulative GDP impact of $34.66 bn

Strategy seeks to localize vaccine manufacturing, protect the environment

Qatar’s credit rating upgraded to Aa2 by Moody’s on strong LNG demand, fiscal improvement

Qatar’s credit rating upgraded to Aa2 by Moody’s on strong LNG demand, fiscal improvement

First upgrade since 2007

U.S. economy grows more than expected despite high interest rates

U.S. economy grows more than expected despite high interest rates

Consumer spending remains strong

Red Sea disturbances impact shipping, raise prices

Red Sea disturbances impact shipping, raise prices

Shipping costs skyrocketed by 200 percent, projected to experience further rises

Trade volume between UAE, Hong Kong surpassed $16 billion in 2023

Trade volume between UAE, Hong Kong surpassed $16 billion in 2023

Hong Kong recognizes UAE as a major trading partner

Mitigating China’s economic crisis: Emphasizing proactive measures over remedial strategies

Mitigating China’s economic crisis: Emphasizing proactive measures over remedial strategies

Concerns rise among Beijing policymakers over declining prices

UAE’s used car market witnesses unprecedented growth in 2023

UAE’s used car market witnesses unprecedented growth in 2023

Exploring the driving forces behind the UAE's thriving pre-owned car market

Russia and India partner to create a digital economy in BRICS expansion

Russia and India partner to create a digital economy in BRICS expansion

Both countries are also exploring a native BRICS currency

Moody’s affirms ratings of five Egyptian banks, changes outlook to negative

Moody’s affirms ratings of five Egyptian banks, changes outlook to negative

Egypt's overall classification was affirmed at Caa1 in October 2023

Saudi Arabia tops GCC ranking in Statistical Performance Index: World Bank

Saudi Arabia tops GCC ranking in Statistical Performance Index: World Bank

Jumping 25 places

India’s equity market surpasses Hong Kong with $4.33 trillion market capitalization

India’s equity market surpasses Hong Kong with $4.33 trillion market capitalization

Becomes fourth-largest stock market globally

UAE office spaces set to expand with 44,000 sq. m. of quality additions to Dubai by 2024: Report

UAE office spaces set to expand with 44,000 sq. m. of quality additions to Dubai by 2024: Report

Dubai received 92,000 sq.m. of office spaces in 2023

UAE gears up to host next World Government Summit

UAE gears up to host next World Government Summit

High international representation expected as 4,000 participants set to attend summit

Egypt, Qatar to forge new investment joint strategy

Egypt, Qatar to forge new investment joint strategy

Ongoing collaboration for the Egyptian-Qatari Business Forum

Saudi nationals employed in real estate surge 116 percent

Saudi nationals employed in real estate surge 116 percent

Saudi citizens working in the private sector reached 2.3 million in 2023

PwC: 73 percent of regional CEOs confident in GenAI’s game-changing influence on business landscape

PwC: 73 percent of regional CEOs confident in GenAI’s game-changing influence on business landscape

81 percent of GCC CEOs foresee improved economic growth

Saudi Arabia aims for 150 million visitors by 2030, eyes $200 billion boost to economy

Hospitality & Tourism

Saudi Arabia aims for 150 million visitors by 2030, eyes $200 billion boost to economy

Tourism sector's contribution to the GDP increased by 4.5 percent year-on-year