economy

Oil prices inch lower on concerns about Chinese imports, U.S. inflation

Brent oil futures expiring in July fell 0.3 percent to $83.53 per barrel

Dubai’s investments in Vietnam surpass $76.2 million in 5 years, generating 4,500 job opportunities

Bilateral trade between Dubai and Vietnam surged to $8.6 billion in 2023

Egypt’s annual urban inflation rate decreases to 32.5 percent in April

Prices in April increased by 1.1 percent, up from 1.0 percent in March, on a month-on-month basis

UAE’s UAQ Department of Tourism signs agreement to develop tourism sector in the emirate

The deal seeks to facilitate the exchange of knowledge and expertise in the fields of tourism, hospitality, and entertainment

UAE’s ADNIC posts net profit of $27.4 million for Q1 2024

The solid performance is attributed to ADNIC's strong underwriting discipline and substantial growth in key metrics

BoE maintains rates at 5.25 percent but hints at summer cut

The cost of borrowing will continue to be at a 16-year high

UAE introduces new framework to boost public-private partnership projects

The law seeks to promote private sector investment and involvement in federal government-led infrastructure projects

UAE and New Zealand begin economic partnership negotiations to boost trade, investment

In 2023 alone, the total trade volume between the UAE and New Zealand reached an impressive $764.5 million

Oil prices up amidst global tensions, concerns about sluggish demand and reduced supplies

Brent oil futures expiring in July had risen by 0.5 percent to reach $83.73 per barrel

Egypt’s foreign currency reserves to surge by $16.2 billion in FY24/25: Report

The report forecasts a growth rate of 4.30 percent for the Egyptian economy in 2025/2026

UAE’s Sharjah announces discovery of new gas reserves in Al-Hadiba field

The gas field contains economically viable quantities of gas, according to the Sharjah Petroleum Council

Driving economic growth through technology

Harnessing Artificial Intelligence (AI) to combat global economic disruptions and achieve sustainable progress

IHG thrives in the Middle East’s booming travel and tourism market

Leading hospitality brand to open 70 hotels in the region in the next few years

Miral: Championing Abu Dhabi’s tourism aspirations with group CEO Mohamed Al Zaabi

The company is behind the innovative and immersive experiences on Yas and Saadiyat Islands

Pillars to boost Abu Dhabi tourism onward and upward with H.E. Saleh Al Geziry

Emirate is committed to celebrating its rich and unique cultural heritage and prioritizing authentic experiences

The Middle East: Rise of a tourism powerhouse

Middle Eastern destinations, including Dubai, Abu Dhabi, and emerging hotspots like Riyadh and Ras Al Khaimah, saw significant tourist inflows in 2023

Saudi Arabia set to increase assets under management to 29.4 percent of GDP by 2024

The Kingdom surpassed 2023 targets with 216 fintech companies in operation and the launch of two digital banks

Abu Dhabi signs MoU with Chile to boost trade, investment

The MoU aims to collaborate in sectors like renewable energy, mining, infrastructure, technology, and more

UAE and Austria discuss strategic partnership developments, boosting cooperation

The UAE-Austria non-oil trade volume grew 18 percent YoY, hitting $1 billion in the first nine months of 2023

Oman forges industrial economic alliances with Saudi Arabia, Japan, and U.S.

The agreements aim to promote private sector involvement in the country's economic growth

Oil prices surge amid U.S. economic data disappointment, supply risks due to geopolitical risk

Brent crude futures saw a gain of 31 cents, equivalent to 0.4 percent, reaching $89.32 per barrel

Saudi Arabia’s non-oil exports surge by 4.4 percent to $5.82 billion in February

Rubber and plastic product exports in February fueled the rise in non-oil shipments

South Korea’s GDP grows 1.3 percent in Q1 2024 driven by export recovery

The country achieved its most rapid economic growth in more than two years

IMF establishes new regional office in Saudi Arabia, hosts joint conference on industrial policy for diversification

The IMF aims to boost its involvement with regional institutions, governments, and stakeholders by setting up this office