Saudi Arabia’s trade surplus remains stable at $26bn
Riyadh, Saudi Arabia - Saudi Arabia's trade surplus remained stable at SR97 billion ($25.8 billion) in the fourth quarter of...
Economy
Over 6,000 F&B companies join Dubai Chamber of Commerce in 2023
DUBAI, UAE – President and CEO of Dubai Chambers Mohammad Ali Rashed Lootah has revealed that 6,478 new Food and...
Business
Saudi Arabia to remain stable as oil prices boost economy: Fitch
Thanks to a boost it received from higher oil prices, Fitch has revised its outlook for Saudi Arabia from negative...
Global economy to grow fastest in 40 years in 2021: Report
Advanced economies, especially the US, drive forecast upgrade as they are expected to grow by 5% in 2021
Lebanese economy in a fix as PM-designate Hariri steps down
Lebanon's prime minister-designate Saad Hariri stepped down Thursday, saying he was unable to form a government, nine months after accepting...
High cost of food, fuel lifts inflation in Saudi Arabia to 6.2%
Accelerated mostly by the cost of food and fuel, inflation in Saudi Arabia has surged to 6.2 percent in June,...
Inflation delays start of Turkey’s rate cuts
Turkey's central bank has left its policy rate unchanged for the fourth month running as a spike in inflation to...
ADFD provides $15 million concessionary loan to Rwanda
Rwanda has signed a loan agreement with ADFD to get a loan of AED55 million, or around $15 million, for...
World hunger surges to 15-year high as COVID-19 stifles food access
As many as 811 million people – about a 10th of the global population – were undernourished in 2020, a...
Qatar takes key step to control own airspace
Qatar said on Tuesday that it has been given a preliminary green light by a UN body on a proposal...
Foreign envoys in Lebanon seek reforms for bailout cash, get no response
Donors want the establishment of a new government to enact urgently needed reforms Foreign donors have over the past year...
Syria govt raises bread, diesel prices as crisis deepens
The price of diesel fuel nearly triples and the price of bread doubles The move brings more pain for civilians...
Saudi Arabia’s trade surplus remains stable at $26bn
Riyadh, Saudi Arabia - Saudi Arabia's trade surplus remained stable at SR97 billion ($25.8 billion) in the fourth quarter of...
Economy
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Oman’s SMEs leading the way in transition to a low carbon economy: report
Muscat, Oman - The small and medium-sized enterprises (SMEs) are playing a critical role in ushering in Oman's shift towards...
Economy
UAE’s foreign trade records 17% jump to US$607bn in 2022
The boost in foreign trade comes on the back of the signing of the comprehensive economic partnership agreements that the...
Economy
Sheikh Mohammed inaugurates 5th phase of Mohammed bin Rashid Al Maktoum Solar Park
DUBAI, UAE - Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of...
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Business
Dubai Chamber of Digital Economy launches report on the emirate’s economyÂ
DUBAI, UAE - Dubai Chamber of Digital Economy, one of the three chambers operating under Dubai Chambers, has launched its...
- Dubai's Venture Capital Ecosystem provides an overview of the investor landscape backing start-ups and scale-ups in the MENA region.
- Dubai Chamber of Digital Economy is tasked with attracting leading tech firms, start-ups and scale-ups that can support the Emirate's digital ambitions.
Economy
Arab League urges action to confront drought, desertification
Cairo, Egypt--The Arab League has called for efforts to confront drought and desertification in light of number of Arab countries...
- The statement from Arab League came on the occasion of the 29th World Day to combat desertification and drought, themed "her land, her rights"
- The Arab League, according to the statement, will concentrate on women's land rights as a vital part to achieve the global goal of gender equality
Economy
Saudi Arabia’s international reserve assets up first time in 6 months
Foreign currency reserves, representing 94 percent of total assets, fell nearly 2 percent year-on-year in May to SAR 1.56 trillion...
- The other major currencies held by Saudi Arabia include euros, Japanese yen, and British pounds. Special drawing rights (SDRs) grew 1 percent YoY.
- SAMA uses the country's reserve assets to support the Saudi riyal, to finance the government's budget deficit, and to invest in foreign assets.