Economics

Bank of England maintains interest rate at 5.25 percent, but cut looms near

The bank’s committee is worried as wage growth outpaces inflation at 6 percent

UAE’s overseas investments surpass $2.5 trillion mark in early 2024

One such landmark deal is the historic $35 billion investment agreement with Egypt for the development of Ras Al Hekma

UAE industrial exports surge to $50.9 billion in 2023, marking 61 percent growth

Sheikh Mohammed bin Rashid chaired UAE Cabinet meeting, reviewing accomplishments of industrial sector

Bitcoin: Is the cryptocurrency really back?

From abysmal lows to historic highs and rapid descends, Bitcoin is doing what it does best

Qatar’s Consumer Price Index drops by 0.34 percent in February 2024

CPI rose YoY by 2.70 percent compared to February 2023

Kuwait maintains strong credit ratings with AA- affirmation, stable outlook: Report

The rating reflects minimal default risk, strong ability to meet financial obligations

UAE Central Bank’s effective strategies to fuel banking sector’s continued growth in 2024

The CBUAE has demonstrated its commitment to promoting economic and financial stability within the country

Oil prices extend gains ahead of anticipated Fed meeting, rising supply risks

The recent attacks on refineries added a risk premium of $2-$3 per barrel to crude prices

EU commits $8 billion aid package to Egypt for migration management, trade expansion

Under the aid package, Egypt will receive a combination of grants and loans over the next three years

Economic and social reforms bolster Saudi Arabia’s stable credit ratings: Report

The non-oil sector investment is key to sustaining 3.3 percent annual GDP growth over 2024-2027, the report says