Iran, Armenia eye $3 billion bilateral trade volume
Tehran, Iran – Deputy Prime Minister of Armenia Mher Grigoryan on Thursday said that Iran and Armenia have the potential...
Geostrategy
Saudi budget records $10 billion deficit in Q4 2023
Riyadh, Saudi Arabia - Saudi Arabia's general budget recorded a deficit of $9.86 billion in the fourth quarter of 2023,...
Economy
Saudi stocks lead GCC region in losses
Tadawul All Share Index (TASI) loses 62.37 points and drops as much as 0.57% Trading valued amounted to around US$3.08...
Qatar could make $20 billion from hosting soccer World Cup next year
The figure of $20 billion represented 11 percent of the country’s gross domestic product in 2019 The construction and...
UAE GDP projected to grow by 2.4% in 2021, 3.8% in 2022
*Non-oil GDP to expand by about 4 percent in both years *Central Bank report finds TES Scheme helped distressed individuals,...
UAE ninth most competitive country globally
The Emirates also ranked third among 64 countries for government efficiency Vice-President Al-Maktoum: 'We did not stand still during the...
Saudi Arabia to auction mining licenses in 2022
World’s biggest oil exporter looks for foreign investments into a sector that has $1.3 trillion in untapped potential reserve value...
AFD approves €83M loan to Egypt for electricity sector
Loan meant to fund Egypt's second phase of Electricity and Green Growth Support Program The program will advance the provision...
Turkey leaves its interest rate unchanged at 19 percent for third month to support lira
The decision needed to support the country’s depreciating currency An annual inflation rate of 16.6 percent has contributed to a...
Saudi economy to grow much faster: Goldman Sachs
Goldman raises Saudi growth forecast for GDP to 4.5% this year, compared to an earlier 2.5% Kingdom's overall economic activity...
To give fillip to key sectors, UAE Central Bank doles out $12 billion in credit in 2020
The credit is intended to give a boost to sectors critical to the overall economy of the United Arab...
Easing of restrictions triggers strong rebound in Middle East economies: ICAEW
ICAEW-commissioned report finds business confidence in the region has strengthened Higher oil revenues give Middle East governments more scope...
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Iran, Armenia eye $3 billion bilateral trade volume
Tehran, Iran – Deputy Prime Minister of Armenia Mher Grigoryan on Thursday said that Iran and Armenia have the potential...
Geostrategy
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Business
Latest News
European Central Bank raises rates for eighth consecutive time
The hike was the highest since 2001, despite a darkening economic outlook. The ECB increased rates by another 25 basis...
Economy
Saudi inflation in May rises slightly to 2.8% on higher rents
Dubai, UAE -- Saudi Arabia’s inflation increased by 2.8%, compared to May 2022, slightly higher than April 2023 (2.7 percent),...
Economy
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Economy
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...
- The minister exhorted the council to approach conflicts through a climate-sensitive lens, strengthening the capacity of relevant peace operations
- Chairing presidency of the UN Security Council for June, the UAE held the debate under the title "threats to international peace and security"
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...
- The kingdom's growth was driven by oil, which contributed 15.4 percent to the overall GDP growth, while non-oil activities also made a positive contribution of 5.4%
- In 2023, stable commodity and food prices are expected to limit upward pressure on imported goods as the dollar continues to gain strength
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...
- The establishment of monetary and banking relations between Doha and Tehran will drive the volume of trade between the two countries significantly
- Referring to Tehran-Doha joint cooperation, Qatar's central bank governor said that there are many opportunities to increase trade between Qatar and Iran