Economy - TRENDS MENA

Ceer will design, manufacture and sell a range of vehicles in Saudi Arabia and the MENA region, including sedans and...
Ceer is projected to directly contribute US$8 billion to Saudi Arabia’s GDP by 2034, the PIF said. Ceer vehicles are scheduled to be available in 2025.
Each vehicle will be designed and manufactured in Saudi Arabia, and tested to the highest global automotive quality control and safety standards.
Europe must act immediately to prevent a shortage of natural gas next year as Russia slashes deliveries in the wake...
IEA Executive Director Fatih Birol said he would hold talks on Friday with several European governments.
He said that Europe needs to take immediate action to avoid risks of natural gas shortage next year.
UAE and Indonesia have signed a Declaration of Intent to boost economic and social development between the two countries and...
The declaration was signed between the UAE Ministry of Energy and Infrastructure and the Indonesian Ministry of Energy and Mineral Resources.
It was signed during a joint meeting between the two countries at the Abu Dhabi International Petroleum Exhibition Conference ‘ADIPEC 2022.
Bank announced a share buyback of US$1.4 billion.
The bank said its Polish unit took a US$334 million hit from new regulations allowing borrowers to suspend mortgage loan payments.
ING said that it benefited from higher interest rates, which central banks have been hiking aggressively in efforts to tame inflation.
Profit was due to high demand for pricier luxury models.
Car deliveries were down nearly one percent over the period as the industry continues to grapple with supply chain disruptions.
BMW said higher prices for its premium vehicles had helped deliver a solid third quarter.
Fastening weapons or drugs to livestock to cross borders is an age-old smuggling trick. Latin American cartels took this a...
The creativity of smugglers continues to astound the authorities, with seizures more often the result of tip-offs than the technological prowess of customs checks
More than 5.3 million pills were found by the Saudi authorities in a large shipment of pomegranates in April 2021, with the drugs stuffed inside some of the fruit
Central banks worldwide are raising borrowing costs in efforts to tame soaring consumer prices, but Turkey has bucked the global...
Last month, Turkey's central bank cut its policy rate for a third consecutive time, bringing it down to 10.5 percent from 12 percent
On Wednesday, Erdogan praised the state of the economy, in an address to his ruling AKP lawmakers in the parliament
Most of the GCC states have raised their key interest rates in the wake of the Federal Reserve's decision to...
The impact of higher interest rates among Gulf oil exporters in 2022 has so far been limited
The IMF said higher oil prices are likely to lead to fiscal surpluses and growing foreign reserves for Gulf economies, which will reduce the need for governments to borrow
The two leaders highlighted the just announced comprehensive UAE-US initiative to accelerate the energy transition.
The two leaders highlighted the just announced comprehensive UAE-US initiative to accelerate the energy transition
UAE president briefed Biden on the UAE’s funding and assistance for clean energy projects on six continents
Struggling to bring down the runaway inflation, the Bank of England is expected to hike its key interest rate on...
The expected hike would mirror aggressive rate-tightening by central banks worldwide as economies battle the highest prices in decades
The US Federal Reserve on Wednesday announced a fourth consecutive hike of 0.75 percentage points, taking its benchmark lending rate to 3.75-4.0 percent