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Data showed a 4.8 percent increase in the mining sector compared to February 2024
MoF stated that this surplus was directed towards reducing public debt, and therefore there was no cash surplus
These revisions reflect reduced pressures on these banks' capital ratios in the upcoming FY2024/2025
Solid budget and financial buffers, but reforms needed to reduce oil dependence
This represents a 58.4 percent growth compared to 2022
Losses from rate cuts to reach around $2.8 billion or 1.9 percent of GCC banks' total equity
Agreements to boost existing and future investments in Oman and Kuwait in key sectors
Notable market gains included MBC Group Co and Avalon Pharma
The new visa initiative supports emirate’s tourism strategy, which aims to targeting 39.3 million visitors by 2030
Market value of the Abu Dhabi Securities Exchange reached $754.7 billion in April
With this expansion, the total number of countries eligible for the E-visa has increased to 66
Egypt targets attracting 30 million tourists by 2028 in light of additional funding for more tourism development projects
Inbound visitors from Arab countries rise by 54 percent in 2024
Balance between collaboration and competition among GCC destinations promotes tourism growth
The average duration of hotel stays also showed a positive trend, with a 5 percent increase
Innovative offers – from jet to yacht experience – continue to excite guests from around the world
Middle Eastern destinations, including Dubai, Abu Dhabi, and emerging hotspots like Riyadh and Ras Al Khaimah, saw significant tourist inflows in 2023
The joint venture aims to develop wind projects in Bahrain with a capacity of up to 2 gigawatts
Al-Jubeir noted the increase in new startups that Saudi youth have founded, and their contributions to the job market
In light of COP28, several national oil companies in the region updated their sustainability strategies
The IMF expects growth to strengthen by 4.2 percent in 2025
Sectors such as finance, property development and tourism continue to drive the UAE's non-oil economy
During March, a total of 9,950 flights operated to and from Kuwait's airport
Dr. Al-Otaibi highlighted Kuwait's endeavors to raise renewable energy production from 15 to 30 percent by 2030
