economy

Oil prices climb on China’s economic growth, Middle East tensions

Brent crude futures for June delivery gained 48 cents, or 0.5 percent, settling at $90.58 per barrel

World Bank raises forecast for UAE’s real GDP growth to 3.9 percent in 2024; 4.1 percent in 2025

The report indicates the UAE's current account surplus is expected to reach 8.4 percent in 2024 and 8.3 percent in 2025

The World Bank: MENA can be an engine for change, partner for sustainable future

Region must tackle important structural reform agenda to ensure peace and stability

Qatar Central Bank’s foreign reserves surge 5.2 percent to $67.9 billion in March

The official reserves at the end of March 2024 increased by $3.11 billion

Egypt’s budget surplus soars to $8.74 billion in first nine months of FY 2023/2024

This marks a substantial growth compared to $1.05 billion in the same period in FY 2022/2023

Bahrain’s GDP grows by 2.4 percent to $36.08 billion in 2023

This represents an increase from $35 billion in the previous year

Oil prices surge amid escalating Middle East tensions, economic data in focus

Brent oil futures expiring in June rose by 0.6 percent to reach $90.89 per barrel

Egypt’s inflation rate decelerates to 33.3 percent in March

Month-on-month, prices rose by 1.0 percent in March, down from 11.4 percent in February

Egypt to raise minimum wage for private-sector workers

The minimum wage increase reflects commitment to safeguarding workers' interests

Travel and tourism industry set to surpass $11.1 trillion in global economic contribution in 2024: Report

The sector will surpass its previous record by an additional $770 billion, the report says

Abu Dhabi’s private sector achieves 35 percent growth, surpassing $92 billion in 2023

Significant contribution of family-owned businesses to this growth

Oil prices surge above $90, reaching highest level since October

The rise in prices is fueled by geopolitical tension and supply concerns

Eurozone inflation drops to four-month low of 2.4 percent in March 2024

The market anticipates four ECB rate cuts, first in June

Türkiye’s inflation climbs to 68.5% as rate hikes fail to stem price rise

Education again saw the highest cost inflation at 104 percent year-on-year

Manufacturing sector in China sees growth in March, ending 6-month contraction

PMI data shows growth in export orders, slow employment decline

Oil prices surge on positive economic outlook, geopolitical concerns

China and U.S. demand boost prices amid Middle East conflict

UAE, Kenya to forge digital corridor, partner on AI, data centers, and digitalization

The data center projects will boast a total capacity of up to 1,000 megawatts

UAE dominates the entrepreneurship scene for third year in a row: Report

The UAE's historic score of 7.7 sets a new record, making it the highest in the history of the report

Saudi Arabia’s greenfield FDI inflows surge over two-fold to $28.78 billion

This figure surpassed the previous peak of $17.57 billion in 2018