economy

Dubai approves $6.8 billion FDI program to attract $176.96 billion in investments by 2033

New initiatives launched to make Dubai one of the world's top three urban economies by 2033.

Saudi Arabia posts record trade surplus of over $11 billion

This represents a 36 percent increase compared to the surplus of $8.1 billion recorded last year

Britain’s GDP expands by 0.7 percent in Q1 2024, but long-term growth outlook remains fragile ahead of election

The economy had contracted for two consecutive quarters in the second half of 2023, indicating a recent recession

Bahrain’s national non-oil exports reach $838.3 million in May

Saudi Arabia ranked first among export destinations, with BD64 million (20 percent) in national origin exports

Fitch affirms UAE’s rating at ‘AA-‘; outlook stable

The agency expects non-oil growth of 4.3 percent in 2024

Oil prices surge on fears of disruptions in Russia and Middle East, defying inventory build

Brent oil futures expiring in August rose 0.4 percent to $86.73 a barrel

Egypt fulfills $25 billion debt obligations, representing 7 percent of GDP: IIF

Egypt targets 3.5 percent primary surplus, 80 percent debt-to-GDP by 2027

Half of all emerging-market debt issued by GCC countries, Malaysia, Indonesia, and Türkiye: Report

In 2024, these countries accounted for 51 percent of U.S. dollar debt issued by EMs (excluding China)

Dubai’s mortgage market at 14-month high: Top areas seeing highest activity

Data indicates a growing trend of buyers, often younger individuals, seeking properties in popular lifestyle and social hubs

Bahrain exceeds global ICT development average, ranks fifth worldwide with score of 97.5

Bahrain's economic leadership and technological progress have catalyzed further innovation and development in this vital sector

Remittance flows to low-middle-income countries moderated in 2023, reaching $656 billion: World Bank

Remittances to LMICs are expected to grow 2.3 percent in 2024, but unevenly across regions

Surviving the sharing economy trend: Strategic moves for the hospitality industry

The sharing economy in travel has seen remarkable growth, reaching a market size of $10.7 billion in the GCC alone by 2024

Japanese yen tumbles to 160 against dollar, hitting 37-year low

The strong U.S. dollar is driven by expectations the Fed will keep rates high due to a robust economy

Oil prices fall amid dollar strength; U.S. inventory build spurs demand fears

Brent oil futures for August delivery dropped 0.4 percent to $84.91 per barrel

Top 10 most spoken languages in the world in 2024

Mastering these top languages can open doors to unparalleled personal and professional opportunities

Saudi real estate sector contributes 5.9 percent to GDP, hits $169.5 billion in transactions

The sector recorded more than 280,000 transactions since the beginning of 2024

Dubai Airports leverages AI to streamline inventory management, enhance airport operations

The MRP tool boosted forecast accuracy 30 percent, enabling precise inventory planning and cutting excess stock 12 percent

UAE’s MoF issues Public-Private Partnership Manual, defines priority sectors for first phase

The manual aims to leverage private sector expertise to benefit the government

Oil prices dip amid lingering demand concerns, U.S. inventory build

Brent oil futures expiring in August fell 0.1 percent to $84.90 per barrel

Dubai secures 12th spot in global wealth and lifestyle report, solidifying position as premier luxury destination

The emirate emerged as the 6th most expensive city in EMEA, attracting wealthy residents with its flourishing economy

Oil prices edge higher on hopes of summer demand surge, potential supply disruptions

Brent crude oil futures for August delivery rose 0.1 percent to $86.07 per barrel,

Egypt secures $2 billion in budget support from key development partners to boost private sector

During the Egyptian-European Investment Conference, Egypt secured a $1.069 billion agreement with the EU

Saudi Arabia boosts maritime sustainability with new multimillion-dollar waste recycling plant in Jeddah

The project, valued at $8 million, will cover an area of 10,000 square meters