Quiet and not-so-quiet luxury at Paris Fashion Week
PARIS, FRANCE - The Paris Fashion Week menswear shows draw to a close on Sunday. Here are some of the highlights...Business Economy
Dubai GDP growth up 3.3 percent in nine months of 2023
Real estate soared by 4 percent, while financial and insurance activities surged 2.7 percent. The knowledge economy improved with a...Economy
UAE strengthens ties, strategic partnership with South Korea
The UAE Minister held a series of high-level meetings with government and business leaders in South Korea to strengthen bilateral...The UAE Minister held a series of meetings with govt leaders in South Korea
The Minister held meetings with business leaders in South Korea
MEASA has world’s highest growth potential but untapped largely: Report
Middle East, Africa and Southern Asia (MEASA) has the world’s highest growth potential, according to a report by the New...Over the last decade, MEASA GDP per capita has almost doubled in real terms, outpacing the growth of the rest of the world.
However, while this century's entire world population growth projected will originate from MEASA, yet it accounts only for 15 percent of global GDP.
Saudi Arabia inks investment deals worth $4bn in Q1
Saudi Arabia finalized investment worth SR15.2 billion ($4 billion) in the first quarter of 2022 and closed 101 investment deal...The country finalized 101 investment deals in the first quarter of 2022
The investments reflect a 225 percent increase from the same period last year
Iraq approves $17bn to pay Iran gas debt and buy grain
Iraq passed Wednesday an emergency finance bill to pay debts to Iran to ensure gas supplies and forestall worsening power...Iraq's agricultural sector contracted by 17.5 percent last year "following severe droughts, energy outages, and the rising global price of inputs", according to the World Bank
Despite its immense oil and gas reserves, Iraq remains dependent on imports to meet energy needs
Women in MENA workforce could hike GDP by $2 trillion: Study
World Bank data indicates only 40% of working-age women in the GCC are employed, even though they are increasingly better...World Bank data indicates only 40% of working-age women in the GCC are employed, even though they are increasingly better educated
Young women face an “expectations vs. reality” gap between their ambitions and their experiences of employers
European sanctions will wipe out Russia’s 15 years of economic gains
Sanctions imposed on Moscow over the invasion of Ukraine are rolling back more than a decade of economic progress and...According to IIF report, Russian economy will contract by 15 percent in 2022 and another three percent in 2023
The damage will make it more costly for Russian president Vladimir Putin to continue the war
With inflation on rise, ECB readies tougher action
The European Central Bank is set to announce the end date to its bond-buying stimulus on Thursday, as concerns over...Inflation in the eurozone rose to 8.1 percent in May, the highest level in the history of the currency club and well above the ECB's own two-percent target
The surge has largely been driven by the war in Ukraine, which has decisively pushed up the cost of energy, food and raw materials
Sharjah sees Dh6bn in real estate deals in Q1
The emirate is currently witnessing the launch of related commercial, industrial and residential projects in various cities.The emirate is currently witnessing the launch of related commercial, industrial and residential projects in various cities
Al Shamsi also highlighted the importance of the acres real estate exhibition, which the Sharjah Real Estate Registration Department organises annually
UAE Central Bank predicts country’s GDP to grow by 4.2 percent in 2023
The CBUAE projected the real GDP growth to reach 5.4 percent in 2022, after the growth jumped to 3.8 percent...In its Annual Report for 2021, the CBUAE estimated the non-oil GDP growth to reach 3.9 percent in 2023.
The oil GDP growth will reach 5 percent in 2023, compared with earlier estimates of 3.4 percent.
World economy will pay a ‘hefty price’ for Ukraine crisis: OECD
The OECD warned Wednesday that the world economy will pay a "hefty price" for Russia's invasion of Ukraine as it...The Paris-based organization, which represents 38 mostly developed countries, is the latest institution to predict lower GDP growth due to the conflict.
The OECD noted that commodity prices had risen, hitting real income and spending, "particularly for the most vulnerable households".
