Jordan sees decrease in number of tourists over Gaza war
Amman, Jordan -- Jordan has seen a decrease in the number of tourists visiting its famed ancient city of Petra...
Business
Saudi Arabia’s real GDP up by 3.9 percent in Q2 2025: GASTAT
Riyadh, Saudi Arabia -- Saudi Arabia's real Gross Domestic Product (GDP) grew by 3.9 percent in the second quarter of...
Business
Business
Markets down after Chinese data flops, EU oil prices decline
London, United Kingdom - Stock markets retreated Wednesday on poorly-received Chinese data, as investors looked ahead to the reopening of Wall...
- All eyes later will be on the release of minutes from the US Federal Reserve's June policy meeting.
- The minutes will be followed Friday by closely-watched US jobs data, a key guide to the state of the world's top economy.
Business
UAE FDI inflows record highest ever jump in 2022: UN report
The country received the fourth largest number of greenfield projects (997), an 84 per cent increase, behind only India (1008),...
- In West Asia, FDI fell by 14 per cent to $48 billion, despite strong activity in greenfield projects and cross-border Mergers and Acquisitions (M&S).
- Global foreign direct investment (FDI) flows in 2022 declined by 12Â percent to $1.3Â trillion, after nosediving in 2020 and rebounding in 2021.
Economy
Turkey’s inflation rate slows to 38.2 percent in June
According to the TUIK state statics agency, the rate slowed from 39.6% in May. But a separate study released by...
- Many economists are warning that inflation will start growing faster because of the spending pledges made by President Erdogan during May's election
- Since Erdogan extended his rule into a third decade in a hard-fought runoff election on May 28, the lira has lost more than 23% of its value against the dollar
Business
SRTIP-SOTI merger to boost UAE’s knowledge economy
"The time is right to reach higher and underscore Sharjah’s position as a leading global destination for innovation, business, and...
- Merger of SRTIP and SOTI will form an independent Free Zone Authority, enhancing the UAE's knowledge economy and entrepreneurial status
- The merger will unlock the potential of Sharjah's technology and innovation sector and solidify the UAE as a global business and entrepreneurship destination
Geostrategy
Iraqi president presses for closer trade and energy ties with Iran
Baghdad, Iraq-- Iraqi President Abdul Latif Rashid has emphasized the need for reinforcing partnership with Iran in the fields of...
- Iraq's president highlighted the importance of forging closer ties with Iran in a meeting with an Iranian delegation visiting Baghdad
- He applauded Iran for the restoration of ties with countries in the Middle East and the resumption of diplomatic relations with Saudi Arabia
Economy
Egypt to pour US$1.8bn into offshore gas exploration program
Vienna, Austria-- Egypt plans to drill new gas wells in the Mediterranean Sea and the Nile Delta as part of...
- According to its petroleum minister, Egypt will develop fields in the Mediterranean Sea, Nile Delta, and Western Desert to boost its production capacity
- The offshore exploration involves companies such as Eni, Chevron, ExxonMobil, Shell and BP, aiming to drill 35 exploratory gas wells until July 2025
Economy
Central Bank of Bahrain Sukuk Al-Ijara oversubscribed
Manama, Bahrain - The Central Bank of Bahrain (CBB) has announced that the monthly issue of the short-term Islamic leasing...
- The Sukuk Al-Ijara has a maturity period of 182 days, starting on July 6, 2023 and maturing on January 4, 2024
- Earlier in June, the CBB said that the issue of the 4-year Government Development Bond was oversubscribed by 415 percent
Economy
Sheikh Hamdan launches first phase of waste-to-energy project
Making a strong push for transition to a green economy by building a clean energy infrastructure, Dubai saw the launch...
- The world's largest and most efficient plant built at a cost of $1.08 billion features advanced technologies with no adverse environmental impact
- Sheikh Hamdan said Dubai's has speeded up its transition to a green economy and transform itself into one of the world's most sustainable cities
Investigation
Egyptians caught in devastating economic storm
Egypt's economy is grappling with a myriad of challenges, including rising inflation, currency depreciation and high debt. TRENDS delves into...
- Egypt's economy is grappling with a myriad of challenges, including rising inflation, currency depreciation and high debt. TRENDS delves into the depths of the crisis
- While external factors like Russia-Ukraine crisis have hit Egypt, GCC countries have extended support, emphasizing the need for structural reforms and privatization
Economy
Egyptians caught in devastating economic storm
Egypt's economy is grappling with a myriad of challenges, including rising inflation, currency depreciation and high debt. TRENDS delves into...
- Egypt's economy is grappling with a myriad of challenges, including rising inflation, currency depreciation and high debt. TRENDS delves into the depths of the crisis
- While external factors like Russia-Ukraine crisis have hit Egypt, GCC countries have extended support, emphasizing the need for structural reforms and privatization
Jordan sees decrease in number of tourists over Gaza war
Amman, Jordan -- Jordan has seen a decrease in the number of tourists visiting its famed ancient city of Petra...
Business
Company News
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Middle East leads way in global methane mitigation
The Middle East is emerging as an important region in the battle against methane emissions, crucial for curbing global warming....
Economy
Saudi Arabia takes part in global mineral and mining meet in Canada
RIYADH, SAUDI ARABIA – A delegation comprising several entities from the Kingdom’s industry and mineral resources' system participated in PDAC...
Business
S&P affirms Saudi Arabia’s A/A-1Â credit rating
Riyadh, Saudi Arabia - The international credit rating agency S&P Global Rating affirmed its foreign and local currency sovereign credit...
Economy
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Economy
Non-oil sectors contribute 50% to Saudi Arabia’s real GDP in 2023
RIYADH, SAUDI ARABIA – Non-oil activities in the Kingdom have achieved a historic milestone, reaching a 50 percent share of...
- This translates to a non-oil economy valued at US$$453 billion (SAR1.7 trillion) at constant prices.
- Non-oil economy is valued at $$453 billion at constant prices, fueled by growth in investment, consumer spending and exports.
Iran’s aluminum ingot output up 7% in Feb 2024
Tehran, Iran - Iran’s production of aluminum ingot in the country registered a 7% growth in the first 11th month...
- Iran’s four major aluminum production companies produced 54,893 tons of aluminum ingots in February 2024
- The Iran Alumina Company produced more than 537,000 tons of bauxite from March 21, 2023, to February 22, 2024
Economy
Saudi inflation rises to 1.8% in February
RIYADH, SAUDI ARABIA – Saudi Arabia’s inflation accelerated to 1.8 percent in February compared to January 2024, according to data by the General...
- The cost-of-living index for February rose to 110.64 points, according to the base year 2018, from 108.67 points in the same month a year earlier.
- Inflation is measured by the percentage change in the cost of living between the current period and the corresponding period of the previous year.