In Middle East, ‘manufacturing’ is a new buzzword
From Saudi Arabia to the UAE and Qatar to Kuwait, governments across the region compete to jumpstart industrial sector but...
Arab countries public expenditure climbs to US$957.5bn in 2022: AMF
Abu Dhabi, UAE--The total public expenditure of Arab countries combined jumped by 9.8% to $957.5 billion in 2022, compared to...
Economy
Iran ups non-oil exports by 50% in Q1
Iran’s non-oil exports rose by 50% in the first quarter of the current Iranian year, its Minister of Industry, Mines...
Covid-19 variant: Saudi suspends UAE flights
The move comes seven weeks after the oil-rich kingdom permitted fully immunised citizens to travel abroad The UAE is a...
Dubai Chamber board adopts 90-day plan for business growth
The event eyes 100,000 business leaders Key challenges facing companies discussed The newly formed board of Dubai Chamber of Commerce...
Oil-producing countries postpone decision on output increase
UAE objects to extending of cuts to the end of 2022 as it seeks to grow production Members consider whether...
Yemen gets $150-million World Bank aid for food, water, healthcare
Yemen is plagued by conflict that started with Houthi insurgence Some 80 percent of Yemenis are dependent on aid To...
UAE launches work permits for Golden Residency holders
Golden Residency visa was created last year for professionals, specialized degree holders HR ministry lays down criteria for work permits...
Covid-19 tourism losses could cut Middle East GDP by 3.1 percent: UN
Pandemic-induced economic impact on tourism could top $4 trillion Lack of widespread vaccination in developing countries leading to mounting losses...
Unemployment in Saudi Arabia drops, more women enter workforce
Labor force participation rate for women rose to 33.6% in Q1 2021 94 percent of the unemployed open to taking...
MENA facing new financial risk challenges due to pandemic: Refinitiv report
25 percent say that a data breach poses the most significant risk to business operations Refinitiv expert says deploying advanced...
Austria to welcome more GCC travelers from July 1
Austria will open border for tourists from all across the world, including GCC, from July 1 The move comes as...
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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
In Middle East, ‘manufacturing’ is a new buzzword
From Saudi Arabia to the UAE and Qatar to Kuwait, governments across the region compete to jumpstart industrial sector but...
Company News
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Zain KSA posts record profit
Business
At UN, UAE plays up link between climate change and peace
Exhorting the Security Council to adopt what she called as innovative attempts to address the interplay between climate change, peace...
Economy
High oil prices fuel Saudi Arabia’s economy as GDP grows to 8.7% in 2022
Riyadh, Saudi Arabia-- Saudi Arabia has recorded an 8.7 percent increase in gross domestic product (GDP) in 2022, as against...
Economy
Qatar and Iran look to boost monetary, banking ties to propel trade
Tehran, Iran--Qatar and Iran are looking to boost monetary and banking cooperation that would propel all-round development of trade between...
Economy
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Business
Private sector share in UAE GDP rise to over 70%
Geneva, UAE - The private sector has increased its contribution to the UAE GDP to more than 70 percent, making...
- The UAE economy grew by 7.6 percent in 2022 and the total economic licences registered in the country reached over 1,014,000 licences
- The country will discuss enhancing the resilience of the global economy to face crises and climate change at this COP28 later this year
Economy
Peak in oil demand ‘in sight’ before end of decade: IEA
"The shift to a clean energy economy is picking up pace, with a peak in global oil demand in sight...
- IEA forecast in its Oil 2023 medium-term market report that annual demand growth would slow sharply over the next five years
- Energy prices soared last year after Russia, a major exporter of fossil fuels, invaded Ukraine and cut deliveries of natural gas to Europe
Economy
Investments focus as KSA gets Civil Transactions Law
The new law seeks to provide a robust legal framework governing all contracts and transactions, instilling confidence in business sector...
- The new law seeks to provide a robust legal framework governing all contracts and transactions, instilling confidence in business sector and fostering growth across industries
- To ensure fairness and transparency in business dealings, the Saudi law brings clarity and consistency to the legal landscape while increasing the ability to predict judgments