economy

Oman climbs five spots in 2024 Competitive Industrial Performance Index

Oman's tech investments, automation, and supply chain consolidation have driven economic improvement

Saudi Arabia’s current account surplus surges to $7.6 billion in Q1 2024, driven by strong service exports

Services exports in the three months to the end of March hit $15.64 billion, the second-highest quarterly figure on record

Tadweer Group launches four new subsidiaries to enhance waste recycling, conversion in Abu Dhabi

Tadweer Environmental Services and Solutions will focus on public waste collection activities

Oil prices slide as weak U.S. economic data raises demand concerns

Brent crude futures were down 48 cents, or 0.55 percent, at $86.86 a barrel

Emerging economies set to dominate future agricultural growth over next decade: Report

India and Southeast Asian countries are projected to account for 31 percent of global consumption growth by 2033.

South Korea’s foreign reserves fall $620 million in June amid currency swap, bond payments

As of the end of June, the country’s foreign reserves stood at $412.21 billion

UAE’s 7X reveals expansion plans to strengthen diversified portfolio, global presence

As a member of the Universal Postal Union representing 192 countries, 7X can facilitate access to a global postal network

UAE’s ADIB releases comprehensive ESG report, highlights $1.51 billion in sustainable finance and net zero commitments

The bank reduced Scope 1 emissions by 65 percent compared to 2022 and set 2030 emissions reduction targets for six portfolio sectors

Dubai’s Q2 residential real estate market soars with 35,310 transactions and 20.5 percent YoY growth

The surge was driven by the rising popularity of customizable units and stable investment returns

Oil prices hold near two-month high as inventory draw offsets hurricane worries, dollar weakness

Brent crude futures for September delivery rose 0.2 percent to $86.41 per barrel

U.S. manufacturing PMI slips below 50 in June as demand remains subdued

This marked the 19th contraction in the manufacturing sector over the last 20 months

Saudi PIF’s revenues soar 100 percent to $88.22 billion in 2023

The fund swung to a profit of $36.81 billion in 2023, after posting a loss of $15.6 billion a year earlier

Oil prices rise as demand optimism builds ahead of U.S. inventory report

Brent crude futures rose 2 percent to $86.41 per barrel

Saudi Arabia’s foreign direct investment rises 5.6 percent to $2.53 billion in Q1 2024

This growth underscores Saudi Arabia's continued appeal to international investors

Diving into Seychelles’ tourism progress: A paradise with a purpose

Discover the country’s sustainability and conservation efforts

e& UAE, Khalifa Fund for Enterprise Development partner to accelerate local startup growth

Khalifa Fund members will gain access to special offers and tailored telecommunications and digital solutions from e& UAE through a dedicated online portal

From Middle East to Africa, travel sector reaches new heights in 2024: Report

UAE ranked among the top 10 global travel destinations in the past year

Dubai launches new mixed-use development project ‘DIFC Square’

The project will expand DIFC's real estate with offices and retail, meeting the demand for prime office space in Dubai's financial district

Experts forecast robust growth for the UAE economy in 2024 amid global challenges

In 2023, the UAE's GDP reached AED1.68 trillion, growing by 3.6 percent

Oil prices surge amid weaker dollar, rate cut bets

Brent oil futures for September delivery increased 0.3 percent to $85.29 per barrel

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.