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Economics
Economy
Point-of-sale spending in Saudi Arabia reaches $3.1 billion: Report
The largest share of spending (15 percent) was on beverages and food, amounted to $471.94 million
Economy
Türkiye holds interest rates steady at 50 percent amid persistent inflationary pressures
The country's annual inflation rate rose from 68.5 percent in March to 69.8 percent in April
Economy
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
Sustainability
Clean tech manufacturing investments reach $200 billion in 2023, up 70 percent: Report
China accounted for three-quarters of the total investments in this field, according to the report
Logistics
UAE’s Etihad Credit Insurance sees 21-fold growth in gross exposure over 5 years, reaching $2.6 billion
ECI covered 3.1 percent of UAE’s non-oil exports of $120 billion in 2023
Economy
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
Markets
Oil prices continue downward slide amid rising U.S. stockpiles, jitters over interest rate hikes
Brent crude oil futures expiring in July slid 0.6 percent to $82.40 per barrel
Egypt
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
Economy
Saudi Arabia’s e-commerce market projected to hit $44 billion by 2030
The sector is predicted to experience a 13.5 percent annual growth, surpassing the global average of 11.2 percent
Economy
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
Markets
Oil prices dip amid fears on U.S. inflation, higher interest rates dampening demand
Brent crude futures fell 44 cents, or 0.53 percent, to $83.27 a barrel
Industry
Qatar’s industrial production index reaches 100.2 points in March 2024, increasing by 4.7 percent
Data showed a 4.8 percent increase in the mining sector compared to February 2024
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