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Despite sanctions, Iran oil exports hit six-year high: report
Tehran, Iran - Iran managed to sell an average of 1.56 million barrels per day during the first quarter of...Economy
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Special economic zones are a new craze in Middle East
Vast swathes of land across the desert region are seeing the sprouting of new special zones to entice big business...Business Economy
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MENA startup investment surges in March 2023
Saudi startups were the biggest beneficiaries of LEAP24 tech conference, securing the lion's share of the total investment of S254...The gender gap in the MENA startup ecosystem remains a pressing issue. Male-founded startups secured nearly 90 percent of the deals.
March 2024 wasn't just about investments. The month witnessed several noteworthy mergers and acquisitions (M&A) deals.
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Iraqi Prime Minister unveils action plan to revitalize local banking sector
The Iraqi government, in collaboration with the Central Bank of Iraq, will provide support for local Iraqi banks through foreign...The Iraqi government, in collaboration with the Central Bank of Iraq, will provide support for local Iraqi banks through foreign institutions and banks
Consideration will be given to the credit rating of each bank in this process
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Saudi’s Modon attracts $3.8bn industrial investments in 2023
Saudi Authority for Industrial Cities and Technology Zones (Modon) has announced significant progress in attracting industrial and logistical investments for...New investments surged by 63 percent, with 891 local and foreign investments secured.
The number of factories rose to 6,443, alongside 7,946 industrial, logistical, and investment facilities
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Ramadan drives MENA online shopping boom, UAE takes the lead
As Eid Al-Fitr approaches, online shopping is expected to reach new heights, with anticipated growth in categories like flowers, cakes,...Flowwow has observed a 65% rise in online purchases from local UAE brands in March 2024 compared to last year
The preference extends to cosmetics and fragrances, with a notable rise in demand for handmade varieties
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UAE cements position as a top global investment hub in 2024
UAE ascends to 8th on Kearney's 2024 Foreign Direct Investment Confidence Index, affirming its appeal as a prime investment haven,...The Foreign Direct Investment Confidence Index,, now in its 26th iteration, continues to be an authoritative forecast of global FDI trends
The UAE economy has witnessed extraordinary growth across key sectors that have thrived as a direct result of the nation’s diversification policies
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‘Saudi Arabia leads its regional peers in construction growth’
The burgeoning construction sector in Saudi Arabia is fostering the expansion of its talent pool and consolidating its regional leadership,...The Red Sea Project, Diriyah Gate, Qiddiya Entertainment City, and NEOM have thrust the kingdom into the global limelight
NEOM has made waves for its revolutionary take on connectivity infrastructure, innovative city features, and sustainability
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DWTC welcomes 2.47m visitors in 2023, says EVP
DUBAI, UAE – Executive Vice President, Dubai World Trade Center (DWTC) Mahir Julfar said that the DWTC's performance in 2023...Over 722,000 were international visitors to various events, showcasing an unparalleled 60 percent growth rate year-on-year.
Flagship events such as GITEX Global and Gulfood maintained their leadership positions in their respective sectors.
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Jordanian industrialists call for export diversification
AMMAN, JORDAN – Jordanian industrialists have emphasized the imperative of strategic planning to bolster export diversification, underlining key measures such...They called for expanding outreach to foreign markets, fostering collaboration between the government and the industrial sector.
Jordan has taken several measures to stimulate domestic exports, improve market access and maximize the benefits of existing free trade agreements.
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Dubai, Abu Dhabi real estate market thrives in Q1 2024
“2024 has opened up to an interesting and promising phase of growth within our sector. As proptech leaders, we can...In Abu Dhabi, Q1 2024 recorded 814 residential transactions representing around 38% of the total transactions
Data from the Dubai Land Department showed a significant surge in total sales transactions in Q1 2024
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March sees GCC Index drop as heavyweight sectors lag
GCC equity markets experienced a March downturn, influenced by seasonal selling pressure during Ramadan, leading to a 3.0% drop in...The decline was mainly led by seasonal selling pressure during Ramadan as investors booked profits after last month’s healthy gains
Qatar suffered the steepest fall by 6.0%., Saudi Arabia was next with a slide of 1.8% while Kuwait and Dubai indices fell by 1.5%