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Economics
Hospitality & Tourism
UAE’s travel and tourism sector anticipated to contribute $64.25 billion to GDP in 2024: Report
According to the report, the number of jobs in the sector will increase by over 23,500, reaching nearly 833,000
Economy
China leaves benchmark lending rates unchanged in line with market expectations
The country kept one-year LPR at 3.45 percent, five-year LPR at 3.95 percent
Economy
Sri Lanka’s inflation plummets to 2.5 percent in March driven by a 22 percent reduction in power tariffs
Food prices remained unchanged at 5 percent in March compared to February
Markets
Oil prices rebound by 27 cents, Brent crude reaches $87.27 per barrel
Investors fueled the increase as they continued to assess geopolitical concerns in the Middle East
Economy
UNCTAD forecasts 2.6 percent global economic growth in 2024, warns of urgent issues beyond inflation
This marks the third straight year of growth below the pre-pandemic average of 3.2 percent from 2015-2019
Economy
World Bank secures $11 billion backing for new financial instruments to boost lending capacity
WBG's leveraging capability enables 6-8x multiplication of hybrid capital and guarantee platform funds over 10 years
Egypt
Egypt’s SCZONE attracts 128 projects worth over $3 billion, Chinese firms contribute 40 percent
SCZONE inked 14 agreements with major Chinese companies to boost investment
Markets
Oil prices drop as Middle East tensions ease, market sentiment shifts to fundamentals and macroeconomics
Brent crude futures declined to $86.62 per barrel, WTI crude futures dropping to $82.51 per barrel
Economy
Egypt to ensure foreign currency availability through maintaining flexible exchange rate
This represents a key condition for Egypt's $8 billion loan program signed with the IMF
Economy
Private sector employment in Saudi Arabia sees record growth in Q4 2023, surpassing 11.2 million employees
The unemployment rate among Saudis reached its lowest level of 7.7 percent in the last quarter of 2023
Economy
IMF’s Georgieva urges China to address economic slowdown, enhance productivity
The Managing Director highlighted concerns over the country's property crisis, called for domestic growth strategies
Economy
Egypt’s GDP expected to reach 4 percent in FY 2024/2025: Ministry of Finance report
The report predicts an 18.1 percent average annual headline inflation rate
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