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Saudi Arabia's GDP contracted by 0.4 percent annually primarily driven by the 8.5 percent annual decline in oil activities
The CEPA also seeks to establish new investment and cooperation pathways, allowing private sectors to build partnerships
This investment signals the UAE's commitment to accelerating the growth and adoption of digital technologies across its economy
In 2023, the two nations had $1.3 billion in non-oil trade, a 30 percent increase from 2022 and 83 percent more than in 2019
International overnight visitors rose 9 percent compared to H1 2023
The UAE and India are among the fastest growing economies, with the UAE’s non-oil GDP growing by 6.2 percent in 2023
The country’s growth is projected at 4 percent for FY 2024/2025
If the PCE data reveals that inflation is slowing and the Fed can cut rates in September, gold prices will likely surge
In a bid to boost demand, India slashed import duties on gold and silver from 15 percent to 6 percent
The resort will include a long, bridge-like structure that spans 450 meters and is suspended 40 meters above a lagoon
Gold prices reached a record high of $2,483.60 last week as markets expected a 25-basis-point U.S. interest rate cut by September
The bank noted that "the current monetary stance is appropriate to support the sustained moderation of inflation."
For the Middle East and Central Asia, oil production and regional conflicts continue to weigh on prospects
Kuwait maintained crude oil production at 2.55 million barrels per day in line with its OPEC+ production cut obligations
OPEC raised its forecast for world economic growth this year to 2.9 percent from 2.8 percent
The dialogue seeks to boost bilateral trade and economic diversification initiatives
MENA startups raised $116 million in June 2024, bringing H1 total to $882 million
This growth was driven by a surge in non-oil activities, which recorded a value of OMR7.18 billion
Kuwait needs economic reforms for fiscal sustainability and diversifying non-oil revenues, says Minister
Outbound travelers from the Kingdom spent an estimated $5.59 billion
This marked the 19th contraction in the manufacturing sector over the last 20 months
In 2023, the UAE's GDP reached AED1.68 trillion, growing by 3.6 percent
The economy had contracted for two consecutive quarters in the second half of 2023, indicating a recent recession
The agency expects non-oil growth of 4.3 percent in 2024
