Content creation key to awareness, culture, human development: Dubai ruler
Dubai, UAE -- Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai, attended part of...Business Economy
Saudi Arabia plans to sustain borrowing spree to fund major projects beyond oil: report
Saudi Arabia secured a $2.5 billion revolving credit facility from Abu Dhabi Islamic Bank, Credit Agricole SA, and Dubai Islamic...Economy
48 Middle East and North Africa IPOs raise $10.7bn in 2023: Report
Five listings, mainly in the energy and logistics sectors, contributed 58 percent towards the total IPO proceeds raised, said the...During Q4 2023, 19 IPOs raised US$4.9bn in proceeds. ADES Holding Company raise the most funds and contributed 25% to the overall IPO in Q4.
Saudi Arabia dominated IPO activity in the region with 14 of the 19 listings in Q4 2023. ADES was the biggest with US$1.2bn in proceeds.
Total M&A market drops to US$3.2trn in 2023, says report
DUBAI, UAE - The total M&A market dropped 15 percent, to US$3.2 trillion, the lowest level in a decade, as...Many of the assets that did not come to market last year will fuel active dealmaking in 2024.
The collapse of technology M&A has been the biggest drag on strategic mergers and acquisitions.
GCC ministers hold discussion on food security in the region
Riyadh, Saudi Arabia--Jasem Mohamed Albudaiwi, Secretary General of the Gulf Cooperation Council (GCC), held a virtual meeting with ministers from...The GCC secretary-general said that food security in the GCC countries receives great attention from the leaders of the GCC countries
He lay stress on involving all sectors of Gulf society, including the government, private sector, and civil society, to tailor the strategy
GCC leaps into healthy aging with tech and policy
In the Gulf countries, a transformative journey toward healthy aging is underway, fueled by technological advancements and government initiatives, says...In the Gulf countries, a transformative journey toward healthy aging is underway, fueled by technological advancements and government initiatives, says an expert.
With the UAE leading in longevity research and AI revolutionizing healthcare, the region is on a promising path to ensure longer, healthier, and more fulfilling lifespans.
Number of visitors to Qatar rises 31.9 percent in December, says report
DOHA, QATAR - The total number of inbound visitors to the country reached about 519 thousand in December 2023, recording...Qatar Monthly Statistics bulletin said the highest number of visitors was from the Gulf Cooperation Counci at 33 percent.
According to the bulletin, the total number of registered new vehicles in December 2023 has reached 3,390 new vehicles.
Saudi Arabia sets $54m threshold for public-private partnership projects
Riyadh, Saudi Arabia - Saudi Arabia has revised the regulations of its Privatization Law, setting the minimum limit for a...The amendments consist of 169 articles covering principles of privatization, minimum project values, and criteria for applying the system to privatization projects
Saudi Arabia initiated the privatization program in 2018 to boost the national economy, enhance the private sector's role, and allocate government assets efficiently
OPEC Fund offered US$1.7 bn in development funding in 2023
Vienna, Austria - The OPEC Fund for International Development allocated US$1.7 billion across 55 projects globally in 2023, providing funding...The largest share in last year’s lending program was dedicated to policy-based-lending (31 percent).
The transport and storage sector received the major share of OPEC Fund’s support (14 percent)
Saudi Central Bank Governor discusses global economy in meeting with ECB chief
Riyadh, Saudi Arabia - The Saudi Central Bank Governor (SAMA) Ayman Al-Sayari discussed the recent developments in central banking and...Several events were organized on the sidelines of the visit including a high-level panel discussion titled “Interconnectedness and Increasing Capital Flow.”
In addition, a seminar on "Women’s Empowerment within Central Banks” was conducted and featured speeches by SAMA’s governor and the ECB president
Ex-Amazon economist to head Turkey’s central bank
Erkan resigned just a week after completing a historic series of interest rate hikes that have pushed the baseline rate...Fatih Karahan's appointment follows the resignation of Hafize Gaye Erkan after less than a year in office over a media scandal involving her family
The reshuffle appears to keep in place Erdogan's newfound commitment to market economics following years of financial turmoil
IMF upgrades Saudi Arabia’s 2025 economic growth prediction to 5.5%
Riyadh, Saudi Arabia - The International Monetary Fund (IMF) has revised its growth projections for Saudi Arabia's economy, revealing a...The IMF envisions a 3.1% global economic growth in 2024, followed by a further increase to 3.2% in 2025
The upgraded forecast reflects the continuous economic growth and prosperity in the Kingdom
