Economics

Saudi Arabia maintains steady inflation rate of 1.6 percent in April 2024

Inflation in April was driven by a 10.4 percent increase in rental prices, largely due to a 9.4 percent jump in villa rents

Oil prices rise amid weaker dollar, tighter supply expectations

Brent oil futures for July delivery rose 0.5 percent to $83.17 per barrel

UAE construction sector flourishes despite global challenges, holds $590 billion project pipeline: Report

$3.9 trillion is the estimated pipeline value of unawarded construction projects in MENA from 2024-28

Oil prices rise amid drop in U.S. inventories, inflation concerns

Brent oil futures expiring in July rose 0.4 percent to $82.70 a barrel

Oman’s public debt sees slight decline, reaches $39.23 billion

By the end of March, revenues amounted to around $7.27 billion, down from $8.31 billion in the same period of 2023

Oil prices surge as China’s fiscal stimulus, Canadian wildfires threaten supply

Brent oil futures, set to expire in July, rose by 0.3 percent to reach $83.59 per barrel

Unemployment rate in Saudi Arabia’s labor market at 8.6 percent, women’s participation reaches 34.2 percent

Over 1,000 government employees received training at international agencies, enhancing their work effectiveness

Investopia Europe 2024: UAE Economy Minister highlights strong strategic ties with EU, vows to deepen mutually beneficial relationship

H.E. Bin Touq meets with ministers and top EU officials to discuss prospects for enhancing economic cooperation

UAE, Mauritius to deepen cooperation in water, energy, sanitation

Areas of collaboration included renewable energy, hydrogen, liquefied natural gas

Oil prices inch lower on concerns about Chinese imports, U.S. inflation

Brent oil futures expiring in July fell 0.3 percent to $83.53 per barrel

Dubai’s investments in Vietnam surpass $76.2 million in 5 years, generating 4,500 job opportunities

Bilateral trade between Dubai and Vietnam surged to $8.6 billion in 2023

Egypt’s annual urban inflation rate decreases to 32.5 percent in April

Prices in April increased by 1.1 percent, up from 1.0 percent in March, on a month-on-month basis

UAE’s UAQ Department of Tourism signs agreement to develop tourism sector in the emirate

The deal seeks to facilitate the exchange of knowledge and expertise in the fields of tourism, hospitality, and entertainment

UAE’s ADNIC posts net profit of $27.4 million for Q1 2024

The solid performance is attributed to ADNIC's strong underwriting discipline and substantial growth in key metrics

BoE maintains rates at 5.25 percent but hints at summer cut

The cost of borrowing will continue to be at a 16-year high

UAE introduces new framework to boost public-private partnership projects

The law seeks to promote private sector investment and involvement in federal government-led infrastructure projects

UAE and New Zealand begin economic partnership negotiations to boost trade, investment

In 2023 alone, the total trade volume between the UAE and New Zealand reached an impressive $764.5 million

Oil prices up amidst global tensions, concerns about sluggish demand and reduced supplies

Brent oil futures expiring in July had risen by 0.5 percent to reach $83.73 per barrel

Egypt’s foreign currency reserves to surge by $16.2 billion in FY24/25: Report

The report forecasts a growth rate of 4.30 percent for the Egyptian economy in 2025/2026

UAE’s Sharjah announces discovery of new gas reserves in Al-Hadiba field

The gas field contains economically viable quantities of gas, according to the Sharjah Petroleum Council

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