Dubai, UAE: With capabilities of AI advancing every year, its potential to address challenges once thought unsolvable is rapidly expanding,...
The non-oil economy expanded 6.6 percent year-on-year to AED174.1 billion — the highest quarterly value on record — and accounted...
Riyadh, Saudi Arabia-- Foreign direct investment (FDI) into Saudi Arabia amounted to $32.52 billion in 2022, revised upwards from $8...The IMF-endorsed methodology relies on analyzing individual financial statements to realize highly accurate annual statistics
The new methodology and figures for FDI was invented after nearly 18 months of work between the Ministry of Investment, GASTAT and SAMA
The company attributes the growth to surge in demand.Operating revenues went up to $15.19 billion, marking a 2.2% increase compared to the same period in the previous year
The company attributed the revenue growth primarily to a surge in demand for electrical energy during the summer season
The UN called for an overhaul of the global financial system to help the world's poorest countries and their struggle...The 46 so-called least developed countries, or LDCs, suffered a sharp economic slowdown in the first years of the COVID-19 pandemic.
As a consequence of the economic slowdown, an additional 15 million people have been pushed into extreme poverty, the UN body said.
ABU DHABI, UAE - The United Arab Emirates, represented by the Ministry of Finance (MoF) as the issuer, in collaboration...The fifth auction of the UAE T-Sukuks program witnessed strong demand through with bids received worth US$1.57 billion.
The success is reflected in the market-driven prices, which was achieved by a spread of 4 to 11 bps over US Treasuries with similar maturities.
Beijing, China - The International Monetary Fund on Tuesday raised its 2023 economic growth forecast for China, citing stronger consumption and...The economy grew 4.9 percent in July-September, slower than the previous quarter but a lot better than expected and a little shy of the government's goal of 5%
China's economy expanded just 3.0 percent last year -- well below the official target of 5.5 percent -- as it was choked by draconian Covid-19 measures
ABU DHABI, UAE - A recent report revealed that 29 initial public offerings (IPOs) were recorded in the Middle East...The report indicated that the MENA region witnessed six IPOs during the third quarter of this year with proceeds of US$523 million.
The report described plans to list shares for IPO in the fourth quarter of 2023 and early 2024 as still promising.
- GENEVA, SWITZERLAND - Global patenting activity soared to new records in 2022, fueled by Indian and Chinese innovators, but an...
China, the US, Japan, Republic of Korea and Germany were the countries with the highest numbers of patent filings in 2022.
innovators from around the world submitted 3.46 million patent applications in 2022, marking a third consecutive year of growth.
Riyadh, Saudi Arabia - Saudi Arabia has revealed plans for a remarkable megacity project named Marafy, following in the footsteps...Marafy is set to become an urban center located to the north of Jeddah, offering a stunning waterfront reminiscent of London's iconic landscape
The city will follow the ongoing construction of Neom on the Red Sea coast, spearheaded by Crown Prince Mohammed bin Salman
- Crunching data compiled on Chinese financing of almost 21,000 projects across 165 countries, AidData said Beijing had now committed aid...
Beijing says upwards of 150 countries stretching from Uruguay to Sri Lanka have signed up to the BRI, a global infrastructure push unveiled by President Xi Jinping a decade ago
The first decade of the initiative saw China distribute huge loans to fund the construction of bridges, ports and highways in low and middle-income countries
"Nations must take action to establish measures for detecting the physical cross-border movement of currency and negotiable instruments to combat...MENAFATF Executive Secretary Suliman bin Rashid Al Jabrin lauds Qatar's adherence to global anti-money laundering standards.
Highlighting the FATF's goals to block terrorists' cross-border funding, Al Jabrin urges strong measures against currency smuggling.
