economy

Saudi Arabia’s logistics master plan to be launched at the upcoming GLF 2024 in October

Over 10,000 participants, including heads of state, ministers, and industry leaders, will convene in Riyadh

Saudi Arabia’s PIF surpasses $765 billion in AUM, delivering 8.7 percent average annual shareholder return

Since its inception, PIF has achieved an average total shareholder return of 8.7 percent per year

Riyadh Air partners with CONCACAF to connect football fans worldwide

This partnership will boost brand awareness among a large, passionate audience, setting the stage for the 2025 launch

Oman’s trade balance booms with $7.76 billion surplus by May 2024, UAE key trading partner

Oman's commodity exports rose 5 percent YoY, reaching $25.16 billion during this period

Oil prices retreat as geopolitical concerns ease, demand concerns rise

Brent crude futures dropped 0.7 percent, or 53 cents, to $77.13 per barrel

11 UAE e-commerce giants pledge for safer online shopping

Amazon, Noon, Al-Futtaim Group among first companies to sign up to voluntary pledge

UAE’s DWTCA Free Zone reports 19 percent rise in registered companies to 2,818 in H1 2024

The number of direct jobs within the free zone also grew to 8,223, a 5 percent annual increase from  7,837 in H1 2023

DMCC seeks to expand UAE-U.S. trade, investment flows across key sectors

DMCC is currently home to over 45 percent of the 1,500 American businesses in the UAE

Global economic zones converge in Dubai in September for 10th World FZO World Congress

The event will highlight how these zones contribute to national economies by promoting trade, commerce, and the digital economy

Saudia leads world in on-time flights again

The airline achieved on-time arrival rate of 88.12 percent and on-time departure rate of 88.15 percent

Saudi central bank reports strong growth in reserve assets, reaching $467.4 billion in Q2 2024

The quarter saw a 2.7 percent quarterly increase, adding around SAR46.724 billion to the reserve

Abu Dhabi’s Masdar, Infinity Power to build 200-megawatt wind farm in Egypt

The MoU secures a long-term supply of renewable energy from a large onshore wind project in Ras Ghareb, Egypt

Accelerating growth: ADGM strengthens position as global financial hub

The UAE capital’s international financial center saw its AUM grow by 226 percent in H1 2024

Dubai Chambers, China Construction Bank partner to boost trade and investment cooperation

This deal will foster knowledge sharing and expertise exchange, strengthening support for businesses and investors

How global aircraft chartering is revolutionizing corporate travel 

Companies spend about $111.7 billion on business travel every year 

GCC’s aviation sector soars as a key economic driver 

Robust infrastructure, strategic location vital to the growth of the industry and the region’s economy

How the evolution of digital banking in the UAE is driving the sustainability agenda 

Country aims to mobilize over AED 1 trillion in sustainable financing by 2030 

Oil prices sink as China’s economic slowdown fuels demand concerns

Brent crude futures declined by 13 cents, or 0.2 percent, to $79.55 per barrel

Harnessing public-private partnerships to transform local economies  

PPPs attract investments, create jobs and develop new capabilities 

Efficient processes and enhanced investor appeal drive growth in Abu Dhabi 

Abu Dhabi Department of Economic Development recently unveiled the Unified Economic License, a key strategy driving the Emirate's growth 

Spreading her wings: Amira Sajwani on continuing a family legacy

Ventures into her own with innovative new ideas, while being deeply rooted in the family’s core business and strengths

Ajman Chamber launches strategy to attract investment, foster innovation, and drive economic growth

The Chamber aims for financial sustainability and efficient resource management

Egypt’s private sector fuels 37 percent of investment, driven by 293 reforms

The report shows that 64 percent of measures focused on boosting investment and industry

Oman hits 54 percent of employment target for H1 2024, 14,074 jobs created

The public sector has seen 6,963 individuals employed, representing 69.63 percent of the 10,000 target