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...
Economy
Gold hits fresh record above $2,300 as Fed hints at easing monetary policy
On Thursday, bullion touched $2,304.96 per ounce, according to Bloomberg News, after Fed boss Jerome Powell said it would likely...
Business
Saudi Arabia, Seychelles to expand cooperation in tourism sector
Saudi Arabia and Seychelles will form a partnership to boost cooperation and exchange expertize in tourism sector which includes planning,...
- Saudi’s tourism ministry signed an MoU with the Ministry of Foreign Affairs and Tourism of Seychelles.
- The MoU aims at supporting the efforts of tourism institutions and associations via holding conferences.
Geostrategy
Iraq seeks to enhance global trade relations: official
Iraq seeks to enhance economic and commercial relations with the international community, said Hamid Al-Ghazi, the Iraqi Secretary-General of the...
- Iraq seeks to enhance economic and commercial relations with the international community, said Hamid Al-Ghazi, the Iraqi Secretary-General of the Council of Ministers
- Spanish ambassador Pedro Martinez said his government will support Iraq in all fields, especially in climate change
Economy
Israel signs free trade deal with UAE; its first in GCC, third in Middle East
The UAE has signed a Comprehensive Economic Partnership Agreement (CEPA) with Israel. Dr Thani bin Ahmed Al Zeyoudi, UAE Minister...
- The agreement builds on the strong foundations laid by the Abraham Accords, says UAE Minister of State for Foreign Trade Dr Thani bin Ahmed Al Zeyoudi
- Talks for a free trade agreement began in November and concluded after four rounds of negotiations
Geostrategy
EU leaders ban most Russian oil, as Moscow advances in Donbas
European Union leaders have agreed to ban more than two-thirds of Russian oil imports, tightening economic screws on the country...
- EU chief Ursula von der Leyen said the ban will effectively cut around 90 percent of oil imports from Russia to the EU by the end of the year
- Participants in Monday's EU summit, however, hatched a compromise deal that exempts deliveries by pipeline from the oil import ban
Economy
GCC, Pakistan launch 3rd round of free trade negotiations
The Chairman of the GCC Negotiating Team, Abdulrahman bin Ahmed Al-Harbi, stressed the importance of pursuing negotiations with Pakistan.
- The Chairman of the GCC Negotiating Team, Abdulrahman bin Ahmed Al-Harbi, stressed the importance of pursuing negotiations with Pakistan
- Free trade negotiations with Pakistan are part of GCC countries' effort to strengthen cooperation with their international partners
Investigation
Fuel costs, falling pay add to UAE gig workers’ woes
Nothing changes for delivery workers of online food delivery aggregator platforms even as they resume work after protest against low...
- Even as social media was flooded with comments demanding better treatment and fair pay for the riders, nothing changed and they eventually went back to work
- The gig economy is coming under pressure from governments around the world as they look to enact protective policies and regulations, says a food critic and blogger
Infographics
UAE and Qatar top 2021 GCC economies
The two Gulf countries score high consistently on all seven parameters used to measure the status of an economy.
- The GCC comprises six countries—Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates.
- The World Bank has said the economies of the Gulf Cooperation Council (GCC) are projected to expand by 5.9 percent overall in 2022.
Economy
US Central Bank needs to hike interest rates till inflation drops : Governor
The US central bank needs to keep raising interest rates in big steps until inflation starts to come down, Federal...
- The Fed early this month announced the biggest increase in the benchmark interest rate since 2000.
- Markets could tighten by a total of 2.5 percentage points this year, including the 0.75 point of increases.
Economy
Qatar’s Export Unit Value Index surges by 61 percent in Q1
Qatar’s Export Unit Value Index (EXUVI) has increased by 61.05 percent in Q1 2022 compared to Q1 2021. The Planning...
- The Planning and Statistics Authority (PSA) released its Quarterly EXUVI for Q1 2022 as a new chain is added to statistical indicators calculated by PSA.
- The addition is as per the policy of PSA in providing accurate statistical information and data that support the decision-maker.
Economy
Qatar government, banks behind its strong economic show: CEOs
The measures adopted by Qatar’s government and Qatar Central Bank proved decisive in countering the negative impacts of pandemic and...
- The CEOs focused on various issues like environmental and social practices, corporate governance.
- Future prospects of Qatar's economy are stable, as its banking sector enjoys flexibility and quality with high capital and liquidity, said Qatar National Bank CEO.
Most Read
Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
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...
Economy
Company News
Latest News
China’s industrial sector posts robust growth in 2023
Beijing, China--China has reported robust progress in its industrial development this year, marked by significant milestones in several sectors, according...
Economy
Iran reports 15% surge in gasoline output
Tehran, Iran - Iran has reported a 15% surge in its gasoline output this year compared to last year. The...
Economy
Qatari economy records 2.7% growth in Q1 2023
Doha, Qatar – The Qatari economy has reported a growth rate of 2.7 percent during the first quarter of 2023...
Economy
Most Read
Economy
Saudi Arabia and Singapore pledge to ramp up economic ties
Singapore-- Saudi Arabia and Singapore have pledged to enhance economic cooperation between the two countries and also reviewed the challenges...
- The two sidies reviewed the state of their economic relations and also discussed the progress of Saudi Vision 2030 and its key programs
- The Saudi finance minister met with an array of private sector players and Singaporean government agencies and discussed financial cooperation
Opinion
Logistics delivers boom with value-added services
"A top-tier, industry-specific enterprise resource planning (ERP) solution is vital for efficiently delivering these value-added services. Distributors grapple with supply...
- The Middle East and African freight and logistics market is predicted to record a compound annual growth rate of about 6% between 2023 and 2028
- To tap into growth opportunities in the region and for better results, distributors must consider incorporating value-added services into their strategies
Geostrategy
Grain deal in focus as Putin, Erdogan all set to meet
MOSCOW, RUSSIA - Russian President Vladimir Putin will host his Turkish counterpart Recep Tayyip Erdogan on Monday, the Kremlin said, amid...
- Russia pulled out from the UN-backed grain agreement that Turkey helped broker in July, effectively revoking safe navigation for civilian ships sailing through the Black Sea.
- Turkey's foreign minister Hakan Fidan said on a visit to Moscow on Thursday that reviving the deal to ship Ukrainian grain across the Black Sea was "critical" for food security.