economy

Saudi Aramco to acquire 25 percent stake in Unioil Petroleum Philippines

The agreement, subject to standard conditions, supports the company's strategy to expand its global retail network

Etihad Airways reports $6.9 billion revenue, 25 percent year-on-year growth

This growth was fueled by remarkable performance in both passenger and cargo sectors

Oman earns 8th place in Global Entrepreneurship Index 2024, scoring 5.7

Oman's ranking results from ASMED's efforts with public and private partners through strategic initiatives

Ras Al Khaimah real estate transactions grow 118 percent to over $4 billion in 2024

The emirate recorded a total of 2,985 sales transactions last year, surpassing AED6 billion in value

Saudi Arabia’s ACWA Power secures $693 million deal to acquire power and water assets in Kuwait, Bahrain

This deal includes a 4.6-gigawatt power generation portfolio and 1.114 million cubic meters of desalination

Saudi Arabia’s labor regulations amendments take effect to enhance job stability, market efficiency

The amendments modify 38 articles, remove 7, and introduce 2 new articles to the regulations

Saudi Crown Prince meets Russian Direct Investment Fund Chief, discuss bilateral investment coordination

Riyadh hosted on Tuesday discussions between Russian and U.S. representatives

Saudi Tadawul launches Capital Management System to boost efficiency, transparency in IPOs

The system allows investors to subscribe directly through portfolios, eliminating the need for new accounts

UAE gold prices surge AED2.25 amid global decline, Russia-Ukraine peace talk hopes

Spot gold dropped 0.2 percent to $2,928.52, while U.S. gold futures fell 0.1 percent

Oil prices rise 0.3 percent to $76.04 amid supply disruptions, U.S.-Russia talks

West Texas Intermediate crude futures also experienced a 0.3 percent rise, reaching $72.03 per barrel

Oman’s GDP rose 1.9 percent in H1 2024, fueled by 3.6 percent non-oil growth: Central Bank

Despite global challenges, the Omani economy has demonstrated resilience in handling various economic shocks

Dubai Industrial City draws over $95 million F&B investments in 2024

This substantial investment underscores the burgeoning growth within the regional sector