Economy - TRENDS MENA

The commercial exchange between Saudi Arabia and Austria has grown from around SAR 1.8 billion ($479 million) in 2005 to...
The commercial exchange between Saudi Arabia and Austria has grown from around SAR 1.8 billion ($479 million) in 2005 to almost SAR 3.3 billion in 2020.
An Austrian delegation of companies specialized in various economic, industrial, agricultural, tourist and other sectors visited the Asharqia Chamber.
The retail electronics sector has proliferated in GCC countries, with demand rising not only due to the urge to own...
In 2020, the global consumer electronics market was expected to generate revenues of $1.4 bn, with a CAGR of 4.6%
The retail electronics market reached over $1 bn globally in 2022, and is expected to grow by 1.82% annually
The bank said the policy rate adjustments are consistent with its objectives of maintaining monetary stability.
The repo rate is being changed by 0.25 percentage point from 1 percent to 1.25 percent
The reverse repo rate is being raised by 0.25 percentage point from 0.5 percent to 0.75 percent
Under the Virtual Asset Regulatory Authority (VARA) initial regulatory phase, Binance will be permitted to extend limited exchange products and...
Under the Virtual Asset Regulatory Authority (VARA) initial regulatory phase, Binance will be permitted to extend limited exchange products and services to pre-qualified investors
The VARA issued Virtual Asset Exchange License ensures Binance will be able to operate its regional business from Dubai in the newly announced regulatory ecosystem
The new rates are said to be effective from Thursday, March 17.
The base rate is anchored to the US Federal Reserve’s IORB
It signals the general stance of the CBUAE’s monetary policy
Markets are expecting a total of seven rate hikes this year, and while the US Federal Reserve’s Open Market Committee...
At the conclusion of its two-day meeting, the Fed’s Open Market Committee announced a quarter-point rate hike
This is the first increase in interest rates since 2018 and since it cut the rate to zero at the start of the Covid-19 pandemic
OPEC Monthly Oil Market Report has predicted the UAE's economic growth to quicken in 2022.
OPEC released the reports on Tuesday where it credited tourism as one of a factor for the economic growth
Further, the rise in crude oil prices would also be a reason for rapid economic growth, said the OPEC reports
The International Energy Agency cut its world oil demand forecast for 2022 on Wednesday, warning that sanctions against Russia over...
Russia, the world's biggest exporter of oil, has been hit with a slew of international sanctions over the war in Ukraine, which sent oil prices soaring.
While the measures exclude the energy market, the IEA said major oil companies, trading houses, shipping firms and banks have "backed away from doing business with the country".
It is a first-of-its-kind center in King Abdullah Financial District.
This follows an increased number of fintech companies in the region
Saudi had witnessed a massive jump in venture capital investments in the fintech sector
Dozens of Western countries have banned Russian planes from their airspace while some carriers operating flights to Russia have had...
Dozens of Western countries have banned Russian planes from their airspace while some carriers operating flights to Russia have had their insurance policies cancelled
Some Turkish holiday operators have cited the impact of Western sanctions when cancelling the plans of their Russian clients