SMEs drive economic innovation and growth in UAE
SMEs are contributing 63.5% to the UAE's non-oil GDP and are at the forefront of innovation and growth, Ayham Gorani,...Economy
US Fed rate cuts become question of when, not if
Washington, United States -- The US Federal Reserve is widely expected to start cutting interest rates in the coming months, as...Economy
No need to change exchange rate of dinar against US dollar: Iraq
The Central Bank of Iraq said Sunday that there is no reason for changing the exchange rate of the Iraqi...Economic conditions will determine the appropriate decision on exchange rate, official of the Iraqi central bank said
The official said that changing the exchange rate remains within the monetary authority's policy
Abu Dhabi Chamber holds session on Emiratization in private sector
The Abu Dhabi Chamber of Commerce and Industry has organized an awareness session on increasing Emiratization rates in the private...A number of topics were discussed during the session including encouraging young Emirati talents to join the private sector
The UAE government has announced a comprehensive federal program 'Nafis' for increasing Emiratization rates in the private sector
Saudi Arabia’s Industrial Production Index grows by 24 percent in May
Saudi Arabia’s Industrial Production Index (IPI) grew by 24 percent in May 2022 compared to the same period last year....The growth is the third highest rise in the last three years, according to the kingdom’s General Authority for Statistics (GASTAT).
GASTAT said the growth of the IPI turned positive in May 2021 after a long period of negative growth rates in 2019 and 2020, partly impacted by Covid 19.
World population set to reach 8bn this year, says UN
The world's population is expected to hit eight billion on November 15, the UN forecast Monday in a report that...The forecast by the UN Department of Economic and Social Affairs said the world's population is growing at its slowest pace since 1950
It should hit 8.5 billion in 2030 and 9.7 billion in 2050, peaking at around 10.4 billion people in the 2080s before steadying at that level until 2100
Three first phase buildings of Grove District sell out: Aldar
37% of sales were completed by non resident investors, 27% by expatriate residents, and the remainder by UAE nationals.37% of sales were completed by non resident investors, 27% by expatriate residents, and the remainder by UAE nationals
Due to increased demand, apartments at Grove Gallery Views are now available for purchase by buyers of all nationalities
Fear of global slowdown worries Gulf economies
The global economic stagnation is expected to impact the GCC growth due to the decline in industrial and economic activities...Economic stagnation has been a concern in many countries worldwide, especially in the Gulf states
Economic stagnation is a concern in light of the growing inflation, rise in interest rates and disruption in supply chains
What led to Sri Lanka’s economic ruin and what lies in store?
Under the rule of the Rajapaksa clan, Sri Lanka moved closer to China and borrowed billions of dollars for vanity...Even with help from India and others, in April the country defaulted on its $51-billion foreign debt pile.
Unofficial inflation rates are second only to those of Zimbabwe, making many goods -- if they can be found -- too expensive for many people to afford.
Dubai tourism achieves robust growth in 2022
The sector recovered fast in the emirate after the easing of Covid-19 restrictions, registering a 203 percent increase in the...The increased flow of tourists helped improve hotel occupancy across the emirate, which reached 76 per cent during the period, the highest globally in Q1.
Successful handling of the pandemic, a safe environment for travelers and world-class infrastructure have contributed towards the rising tourist inflow.
Regional projects vital for future, says Jordan’s King Abdullah
King Abdullah spoke about Jordan's Economic Modernization Vision for the next decade which seeks to sustain recovery the COVID-19 pandemic....King Abdullah spoke about Jordan's Economic Modernization Vision for the next decade which seeks to sustain recovery from the COVID pandemic.
The vision plans for the coming years by capitalizing on opportunities in the Kingdom, especially amid the impact of the Ukrainian crisis.
Reforms crucial to revive pandemic-hit culture sector
The sector also saw a decline of 25 percent of its Gross Value Added in 2020. However, while most of...The culture was one of the most seriously impacted sectors globally due to COVID-19 pandemic, with more than 10 million jobs lost in 2020 alone
Revenues from the digital creative economy totalled US$2.7 billion globally in 2020, over a quarter of the sector’s overall revenue, says a report
