PIF sets up agri and ecotourism firm Dan Company
RIYADH, SAUDI ARABIA - The Public Investment Fund (PIF) announced on Monday the establishment of Dan Company, specializing in agritourism...Business Economy Tourism
ITFC looks to ramp up green financing to 30% of its portfolio
Dubai, UAE-- The International Islamic Trade Finance Corporation (ITFC) is looking to ramp up its sustainable and green financing to...Economy Energy Climate Change
Kuwait loses $4b per year to corruption: Expert
According to Transparency International, Kuwait in 2020 ranked 78 out of 180 countries in the Corruption Perception Index.Kuwait Economic Society chairman Abdul Wahab Al Rasheed said failure to take the right decision at the right time was the worst form of corruption
He also called for urgent economic reform, without which the country’s budget deficit would equal its sovereign fund by 2035
Sports sector adds $1bn to Dubai economy each year
The growth in the sector is a result of the Dubai community’s increasing interest to participate in sports activities over...Around 1.5 million people regularly engage in sports and physical activities in the emirate, acccording to the Dubai Sports Council
This has led to an increase in the number of national and international sporting events being hosted in Dubai
GDP of OECD economies up by 1.6 percent in Q2
Despite the rise in the GDP of the Organization for Economic Co-operation and Development (OECD) economies to 1.6 percent in...The UK recorded the strongest growth (4.8%) followed by Italy (2.7%)
GDP also increased in the other Major Seven Economies, but to a lesser extent
ADX is the least expensive equity market in MENA
ADX has plans to get at least 10 companies as well as additional services such as derivatives trading by the...ADX has plans to get at least 10 companies as well as additional services such as derivatives trading by the end of 2021
The cost of execution includes several components and depends on the exchange
US stocks continue to advance
The S&P 500 and Nasdaq advanced after posting records at the close of trading FridayThe S&P 500 and Nasdaq advanced after posting records at the close of trading Friday
The broad-based S&P 500 was up 0.2 percent at 4,518.34 and the tech-rich Nasdaq Composite Index climbed 0.4 percent to 15,186.63
Foreign investment in Saudi markets rose 150% in Q2
The sectors in the country that attracted the most foreign investment were banking, basic items, energy, and communications.Saudi Arabia was granted membership of the World Trade Organization in 2005
This is opened up the country to ever-increasing investments from foreign parties
Iran to build 6 million homes for underprivileged
The decision came from the country’s Constitutional Council, which is tasked with finalizing parliament legislation.Iran’s new President Ebrahim Raisi has already promised to build 4 million houses until the end of his term in 2025
The government is expected to provide 60 percent of the funds needed to build a housing unit
Saudi net foreign assets dip by $4.4bn in July
Saudi Central Bank’s (SAMA) net foreign assets suffered a $4.4 billion drop in July, SAMA data showed on Sunday.Investments in foreign securities edge higher
A country’s net foreign assets are a vital indicator of its economic health and a measure of its ability to support its currency’s peg to the dollar..
Saudi exports leap up 40 percent to $6.2bn in June
Saudi non-oil exports recorded a 40 percent jump, the highest-ever monthly level, in June 2021, touching $6.2 billion.Exports in June went up by 40 percent from a year ago
According to the Saudi Export Development Authority (Saudi Exports) the number in June includes exports of products worth SR21 billion
UAE investing hub despite high starting cost
Starting a business in the Emirates makes a $7,444 hole in the pocket, but world-class infrastructure, excellent connectivity, business-friendly policies and...Having been pegged to the US Dollar since 1973, the AED is favorable to all business firms within the country due to its steadiness.
Saudi businesses in the past had to clear 13 procedures and required to have 1,057 percent of income per capita in the bank before starting a business.
