World economies reel from Trump’s tariffs
The tariffs are a demonstration of raw economic power that Trump sees putting US exporters in a stronger position while...
Economy
IMF lifts 2025 global growth forecast on ‘fragile’ easing in trade tensions
Looking ahead, the IMF expects the world economy to expand 3.1 percent next year, an improvement from the 3.0 percent...
Economy
Economy
Saudi Arabia to compete for 17-title categories at 15th Arab Games
Riyadh, Saudi Arabia--Saudi Arabia will take part in the 15th Arab Games, "Algeria 2023," which is set to commence next...
- The games to be held in Algeria will see the kingdom players taking part in disciplines as diverse as football, fencing, badminton, swimming and many other sports
- Although the male representation will form the biggest component of the Saudi team at 79 percent, there will be nearly 21 percent women in the team too
Business
Iran makes US$54 billion in revenue from export of oil in 2022
Tehran, Iran-- Iran has earned revenue to the tune of $54 billion last year from the export of oil, according...
- According to the estimate, Saudi Arabia earned the highest net oil export revenue among OPEC members in 2022, standing at $311 billion
- Iraq came second at $131 billion, followed by the United Arab Emirates with $119 billion, and Kuwait came fourth at $98 billion
Economy
Oman’s GDP climbs up 4.7 percent to touch US$22.59bn in Q1
Muscat, Oman--Oman's gross domestic product (GDP) at constant prices recorded an increase of 4.7 per cent to reach $22.59 billion...
- The jump has mainly resulted from the growth of non-oil activities, climbing up by 4.6 percent to $17.55 billion at the end of the first quarter of 2023
- The country has seen oil activities at the end of Q1 grow by 3.5 percent to $7.32 billion as against $7.09 billion at the end of the first quarter of 2022
Business
DFM adds new investor accounts
The brokerage firms added 26,953 new accounts in H1.
- The new investor accounts at the bourse climbed more than 48 percent during the first five months of this year as against 18,204 last year
- Since the listing of companies such as DEWA, TECOM Group and many others, the market has witnessed significant momentum
Economy
51% techies satisfied with their pay in Middle East
Middle Eastern technology professionals are more open to office-based roles than their counterparts in Central Eastern Europe, Southern Europe, and...
- Middle Eastern tech professionals are more open to office-based roles than their counterparts in Central Eastern Europe, Southern Europe, and France and Benelux, says a report
- Career development remains a top priority for Middle East tech professionals, with 51% ranking it in their top three considerations for a new role, adds the latest report by Hays
Business
Jordan medical, pharmaceutical exports see 30% growth in first 5 months of 2023
AMMAN, JORDAN Â -Â The pharmaceutical and medical supplies sector of Jordan has experienced an impressive 29.7 percent growth in exports...
- Jordan's exports from the pharmaceutical, medical supplies sector for the first five months of 2023 reached approximately US$375 million.
- The growth has been possible due to regularization, recovery of supply chains, and uninterrupted supply of raw materials and production inputs.
Business
Botswana inks new deal with De Beers
GABORONE, BOTSWANA -  Botswana has reached an eleventh-hour deal with diamond giant De Beers after months of tense negotiations that saw...
- The agreement provides for a new 10-year agreement to sell the rough diamonds produced by Debswana.
- Debswana is a JV equally owned by the government and De Beers - and a 25-year extension of its mining licenses.
Economy
Confront inconvenient truths to fight global inflation
"Now is the time to face the three uncomfortable truths ... Inflation remains sticky; financial stresses could make price and...
- Stubborn inflation is linked to factors such as tight labor markets, strong wage growth, and pent-up demand, despite hikes in interest rates, says an IMF official
- Monetary policy strategies and tools like forward guidance and quantitative easing may require adjustments to handle these risks effectively, adds Gita Gopinath
Geostrategy
Violence and looting rage in France after police shot teenager
Nanterre, France--Sporadic violence and looting hit several cities across France in a fourth night of protests after the fatal police shooting...
- In the wake of the death of 17-year-old Nahel at a traffic stop in Paris, France has deployed 45,000 officers backed by light armored vehicles to quell violence
- The violence set off by the killing of Nahel has brought out into the open longstanding grievances about policing and racial profiling in the country's multi-ethnic suburbs
Economy
Jordan’s exports to non-Arab Asian countries climb to US$1.16bn in Q1
Amman, Jordan-- Trade between Jordan and non-Arab Asian countries has shot up in the first quarter of 2023, with the...
- The kingdom's exports to the Greater Arab Free Trade Area increased by 1 percent in Q1 of 2023 to touch $1.14 bn as against $1.13bn in the same period of the last year
- Its exports to the American Free Trade Agreement countries rose by 2.6 per cent in Q1, touching nearly $898 million, compared to $876 million for the same period last year
World economies reel from Trump’s tariffs
The tariffs are a demonstration of raw economic power that Trump sees putting US exporters in a stronger position while...
Economy
Company News
Paris stocks hit record thanks to luxury
Market Report
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Qatar real estate trading volume amounts to US$382m in February 2024
DOHA, QATAR – The volume of real estate trading in sale contracts registered with the Real Estate Registration Department at...
Business
US consumer inflation in Feb up as Federal Reserve mulls rate cut
The annual consumer price index (CPI) came in at 3.2 percent last month, the Labor Department said, while the "core"...
Economy
Baghdad, Tehran in talks to import gas from Turkmenistan
Tehran, Iran - Baghdad and Tehran are currently engaged in negotiations to facilitate the import of gas from Turkmenistan, with...
Economy
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Economy
UAE financial system more secure and efficient than before, says CBUAE
Abu Dhabi, UAE--The technological and structural advancements in the UAE financial sector continues to enhance security, operational efficiency, accessibility of...
- According to a CBUAE report, the UAE financial system is more secure because of the implementation of technology throughout the economy
- The number of locally incorporated banks (excluding investment banks), at the end of the fourth quarter of 2023, remain constant at 22 banks
Economy
Ajman eyes endowment-driven growth, social solidarity
"Reports with statistics on the number, types, values, and uses of endowments enable us to make appropriate decisions regarding endowment...
- Ajman's 2023 endowment report reveals $541.6 million across 222 endowments, benefiting education, welfare, and mosque affairs.
- The latest report notes high trust in endowment management, with 79 percent of endowments managed by related entities.
Economy
$2bn earmarked for Saudi real estate by Muslim global HWNIs
Riyadh, Saudi Arabia - Muslim global high net worth individuals (HNWI) are prepared to spend US$ 1.96 billion on real...
- Makkah (30%) has emerged as the top wish list city by Muslim HNWI for real estate purchases in Saudi, while Riyadh (25%) ranks second
- Prices in Makkah have risen by an average of 5.5% over the last 3 years, compared to 5% in Madinah over the same period