Qatar expects 11.4% revenue dip in 2024 budget on lower oil prices
Finance Minister Ali bin Ahmed Al Kuwari attributed the decrease in revenues to the adoption of an average oil price...Economy
Saudi Arabia eyes $13 billion from media sector
Riyadh, Saudi Arabia - Saudi Arabia aims to increase the media sector's economic contribution, targeting a GDP share of 47...Economy
ADX proposes region’s first SPAC regulatory framework
The ADX and ADDED, in conjunction with legal and investment specialists, have worked together to produce the proposed SPAC regulations,...The regulatory framework proposed by ADX and ADDED will facilitate initial public offerings of SPACs, providing investors worldwide with access to unique growth opportunities
The proposed regulations will also allow sponsors outside of the UAE to apply for approval to list their SPACs on the ADX
AD Ports Group to develop multipurpose terminal at Egypt’s Safaga Port
A multipurpose terminal in Safaga Port of Egypt will be developed and operated by AD Ports Group. Under an MoU...AD Ports signed an MoU with the Egyptian Group for Multipurpose Terminals, the commercial arm of the Egyptian Ministry of Transportation.
Under the pact, AD Ports Group will explore investment opportunities and conduct feasibility and local market studies related to the project.
Dubai non-oil economy surges to two-year high in October
Dubai's non-oil economy continued to grow in October, courtesy of a sharp rebound in new orders and increased tourism activity...A sharp rebound in orders and Expo boost raise Purchasing Manager's Index.
Despite the growth of businesses, job hiring remained marginal. Overall expectations of firms at their highest since March 2020.
Saudi Arabia’s real GDP grows by 6.8 percent in Q3 on rising global oil demand
Saudi Arabia's GDP has risen by 6.8 percent in the third quarter of 2021 compared to Q3 2020, according to...The growth attributed to an increase in oil activities by 9 percent due to the rising global demand for crude oil.
Non-oil activities increased by 6.2 percent and government activities increased by 2.7 percent year-on-year.
UAE economy has passed recovery phase, on to growth path: Minister
According to the central bank's second-quarter review, the UAE economy is expected to grow 2,1% this year due to pandemic-mitigation...According to the central bank's second-quarter review, the UAE economy is expected to grow 2,1% this year due to pandemic-mitigation measures
In 2022, the economy is predicted to grow by 4.2 percent, higher than the previous forecast of 3.8 percent
39% of Sub-Saharan Africa firms lack anti-bribery controls: survey
The report surveyed risk and compliance professionals and business leaders across 47 countries in SSA.The report surveyed risk and compliance professionals and business leaders across 47 countries in SSA
More than 23 percent of the organisations have fallen victim to bribery and corruption over the past five years
Slow steps for Palestinian economic recovery: World Bank
The lack of progress towards peace and reconciliation and Covid-19 caused an unsustainable economic situation in the Palestinian territories.Palestine's economic growth is expected to reach 6 percent by the end of this year
Poverty rate in Palestine has risen to 59 percent from 43 percent
Where do Arab countries stand on fintech?
Financial technology, or fintech, automates and improves the delivery of financial services.Making technology an essential subject in educational curricula in schools is important to advance fintech in Arab countries
Arab Bank and the National Bank of Kuwait have the best technologies in fintech and online banking
RAK Finance Deptt signs Joint Strategic Charter with counterparts in other emirates
The charter aims to significantly enhance institutional and financial performance by setting frameworks for cooperation and boosting financial and institutional...The charter aims to significantly enhance institutional and financial performance by setting frameworks for cooperation and boosting financial and institutional performance
The charter will strengthen mechanisms for monitoring trends in the development of financial performance by designing a unified scorecard to track a set of indicators and standards
Dubai’s transport infrastructure projects saved AED220 billion: RTA
This was revealed by the Director-General, Chairman of the Board of Executive Directors of the Roads and Transport Authority (RTA)...In contrast, the total investment in the improvement of roads and transport was AED140 billion
The UAE has been ranked No. 1 in Road Quality Worldwide for 5 years in a row
