Economy - TRENDS MENA

The company’s revenue rose to AED 3.9 billion.
AD Ports Group has evolved into a vertically integrated ecosystem of businesses that include Economic Cities & Free Zones, Ports, Logistics, Maritime, and Digital services
As a strategic gateway to Abu Dhabi, AD Ports Group generated 21 percent of all non-oil related GDP in the Emirate, according to Oxford Economics
The economy of Saudi Arabia is forecast to grow 7.7 percent this year propelled by the expansion of the kingdom's...
The firm sees the oil sector increasing by 15.5 percent, but it also estimates the level of ‘non-oil activities’ to grow by 3.4 percent
It made the forecast as it revealed the Kingdom’s non-oil Purchasing Managers' Index hit its highest level for three months
ENOWA, the energy, water and hydrogen subsidiary of NEOM, has established the region's first Hydrogen and Innovation Development Center (HIDC)....
The Hydrogen and Innovation Development Center will be a testing ground for new technologies in the clean energy industry.
The Center will also be a collaborative learning community for research institutions focused on hydrogen and the circular carbon economy.
Israel described as "historic" the deal abolishing customs duties on "95 percent of the products" exchanged between the Jewish state...
Talks for a free trade agreement were concluded Friday after four rounds of negotiations, including last month in Egypt between Israeli PM and Abu Dhabi Crown Prince.
The deal was now "ready for signature", the UAE's Minister of State for Foreign Trade Thani al-Zeyoudi said.
Lebanon's electricity company is charging $16 million to supply power on the day of the May 15 parliamentary polls, a sum...
The state-owned Electricite du Liban (EDL) presented a quote of $16 million to the government, which is trying to provide just half a day's worth of power to polling stations
"I held several meetings with EDL, which apparently couldn't provide electricity except at a very high cost," Interior Minister Bassam Mawlawi said
Developing and import-dependent countries have been heavily impacted by Russia's invasion of Ukraine -- the two countries that account for...
Among those affected are Egypt, Lebanon, Tunisia and war-torn Yemen, whose humanitarian crisis is already considered the world's worst.
Net food importers will suffer the most from the effects of the war, according to UNCTAD, which lists 36 countries as highly dependent on wheat imports from Ukraine, Russia.
President Joe Biden will announce later on Thursday the release of a record million barrels of oil a day for...
President Joe Biden will announce later on Thursday the release of a record million barrels of oil a day for about 180 days from US strategic stockpiles
Crude prices have spiked in recent weeks over fears of a major supply shortfall after Russia — the world’s second biggest exporter of oil after Saudi Arabia
Abu Dhabi and San Marino will explore new avenues of economic cooperation and boosting trade. Saeed Ghumran Al Remeithi, Deputy...
Saeed Ghumran Al Remeithi, Deputy Treasurer of Abu Dhabi Chamber, met with Fabio Righi, San Marino’s Minister of Industry.
Remeithi noted Chamber's readiness to provide all the necessary support to investors and entrepreneurs from San Marino.
To achieve development goals, the MENA region must create three hundred million jobs, according to President of the World Bank...
Malpass noted that MENA countries often fail to rise to developmental challenges, and it could have “serious implications for livelihoods"
According to Malpass, Gulf Cooperation Council countries were initially concerned about the global community’s desire to shift away from oil
The 13 members of the Saudi-led OPEC and 10 countries spearheaded by Russia backed an increase of 432,000 barrels per...
While OPEC refused to budge, the United States said it would tap its strategic stockpile by a record amount in a bid to cool soaring prices.
Berlin and the International Energy Agency, which advises developed countries, have also urged producers to boost production to bring relief to the market.