economy

IMF considers new funding for Egypt amid rising costs

Cairo currently benefits from an $8 billion IMF financing agreement expanded in 2022 for economic support

DIFC launches Dubai Financial Experts Program to develop next generation of national leaders in financial services

The initiative aims to boost Emirati knowledge, skills, and leadership in financial services

Central Bank of Oman launches 73rd issue of Government Development Bonds sized at $259.7 million

New offering has a maturity period of five years and a coupon rate of 4.60 percent per annum

UAE aviation sector sees 10 percent growth in passenger traffic to 147.8 million in 2024

In 2024, the country welcomed 41.6 million inbound passengers, while 41.7 million departed

Dubai Chambers, U.S Chamber of Commerce partner to enhance trade, investment ties

Partnership will strengthen trade relations and enhance the ties between the business communities of Dubai and the United States

UAE, French Presidents witness signing of UAE-France Framework for Cooperation in Artificial Intelligence in Paris

The two leaders emphasized a strategic AI partnership, focusing on collaboration, investment, and Virtual Data Embassies

Oil prices gain 0.51 percent but are set for third successive weekly decline amid trade war concerns

Brent crude prices gained 0.51 percent to $74.67 but were set to fall 2.8 percent this week

Dubai’s GDP grows 3.1 percent to $92.4 billion in first nine months of 2024

Trade, Transportation and Storage, and Finance and Insurance emerge as the leading sectors driving growth

Oman’s real estate sector grows 29.5 percent in 2024, hitting $8.6 billion

Real estate activities contributed $2.1 billion to the Sultanate’s GDP

Saudi Arabia launches King Salman Automotive Cluster, targeting $24.5 billion GDP boost by 2035

The hub will drive Kingdom's economic diversification and serve as a catalyst for sustainable transportation

Egypt welcomes 15.78 million tourists in 2024, aims for 30 million annually in coming years

The country received 8.7 million tourists in the first half of the current fiscal year

LEAP 2025 to highlight innovation through culture, entertainment and heritage

Program will span a week, continuing until February 13, at various locations throughout Riyadh