Payment landscape in Gulf countries is headed for a significant change, Ralf Wintergerst, Group CEO of G+D tells the TRENDS. "CBDC solves several challenges of today’s payment and crypto-currency world. There’s a multitude of payment options, be it cash or digital, as well as the emergence of new forms of...

Debt-ridden Tunisia unveiled a 2022 budget on Tuesday that will see it borrow almost $7 billion more, as it seeks to stimulate an economy battered by the coronavirus pandemic. The 2022 finance law boosts spending by over three percent year on year to 57.3 billion dinars ($19.8 billion, 17.6 billion...

Iraq's Ministry of Planning has said several positive economic indicators have risen during 2021 and several measures are being taken to activate the economy. Abdul Zahra Al-Hindawi, a spokesman for Iraq's Planning Ministry, said those who lost their jobs in 2020 returned to their jobs, which helped in the economic...

The board of governors at the Central Bank of Oman expressed satisfaction with the state of the 2021 FX reserves.

The Ministry of Planning has not prepared a report on economic indicators during the year 2021 but there is an improvement in many fields.

The total number of tourists coming to the Kingdom in the period has surpassed 2.1 million, while the number of overnight tourists has inched up by 8.9 percent.

London-based think-tank Cebr predicts the economic future of countries across the world and the outlook remains rosy for the Gulf region.

The preliminary results showed a surplus value for the capital and financial account amounting to $222 million, mainly caused by the surplus in the capital account which amounted to $114 million.

Jordan will distribute JD1 million to compensate those suffered losses due to the Al Waleh Dam draught and cross-border fires in the northern Jordan Valley.

Oman's capital Muscat will be the Arab Digital Capital for 2022, the Council of Arab Ministers for Communications and Information has announced following a decision at the 25thsession of the Arab minister's council. The event was hosted via videoconferencing by the Arab League’s technical secretariat general of Arab Ministers of...

Each year, UK charity Christian Aid calculates the cost of weather incidents like flooding, fires, and heat waves according to insurance claims. In 2020, it found the world's 10 costliest weather disasters caused $150 billion in damage, making this year's total an increase of 13 percent.

As ecommerce expands, companies are becoming more aware of the region's shifting consumer behavior and needs, say experts.

Dubai’s Department of Economy and Tourism (DET) has launched an online portal that provides a ‘One-Stop-Shop’ for timeshare operators to register and apply for permits and provide insights and guidance to customers and tourists. Local media reports said the Timeshare Portal supports the legal framework created by Dubai’s new Timeshare...

Spain and UAE have reviewed Dubai Electricity and Water Authority's achievements besides key projects and cooperation in the clean and renewable energy sectors. The two sides also discussed initiatives and programs that consolidate the transition towards a green economy and sustainability at a meeting in which said DEWA CEO Saeed...

Saudi Arabia’s overall merchandise exports increased by 90 percent in October 2021 compared to October 2020, when international trade was impacted by the lockdowns and the travel bans due to the breakdown of Covid-19 in many world countries. According to the international trade report for Oct. 2021, released by the...

With the worst of the repercussions of Covid-19 expected to be in the rearview mirror, there are some specific sectors Saudi Arabia is focusing on in 2022.

The International Energy Agency warned in May that an immediate halt to new investment in fossil projects is needed if the world is to reach net-zero carbon emissions by 2050 and to stand any chance of limiting warming to 1.5 degrees C.

Those wishing to request assistance from the fund can visit its website, and view, fill, and upload the required documents.

The two sides talked about Expo 2020 Dubai and the importance of the Arab countries' participation therein.

The Abu Dhabi index recorded a weekly loss of 4.8 percent, its deepest plunge since March 2020.

The economy of Iraq depends upon oil as it constitutes 45 percent of the GDP and affects about 80 percent of the growth of the economy, contributing to 93 percent of the government’s revenues.

An estimated one million people a year are expected to visit the aquarium housing marine animals in ten distinct habitats under the supervision of marine life experts.

UNRWA Commissioner-General Philippe Lazzarini has acknowledged that stagnating donor funding for close to a decade remained below the amount needed to provide quality services. At the same time, as the refugee population continued to grow, poverty and vulnerabilities skyrocketed.

The restrictions have dealt a punishing blow to the North African country's vital tourism sector.

The committee will be chaired by the Prime Minister and number of ministers, specialized officials, experts who have experience and expertise in public administration.

Studies indicating Omicron infections are less likely to result in hospitalisation have increased confidence that the pandemic will have less impact on the economy.

The country is aiming for a budget surplus for the first time in eight years amidst increasing oil prices and the gradual opening of global markets, say market research firms.

UBP Senior Portfolio Manager Fares Benouari has predicted that 2022 would see greater exposure to ESG, automation, and fintech in investment strategies.

Jordan’s persistently high levels of unemployment are driven by the limited capacity of its private sector to create more and better jobs. The private sector generates far fewer jobs than the number of new entrants into the labor force, and the public sector is not able to make up for...

China has launched a sweeping state crackdown on tax evasion and perceived immoral behavior in the entertainment industry. The move has already targeted some of the country's biggest stars, with actors like Fan Bingbing seeing her career on halt since 2018.

The technology could help the UAE grow more crops within its boundaries, ensuring food security, says Dake Rechsand CEO and Founder Chandra Dake.

The queues are a worrying sight for Turkey's veteran President Recep Tayyip Erdogan, who is trying to fight inflation by slashing interest rates, a policy that doesn't seem to be working.

Top company leaders highlight priorities for MENA governments at CEO Dialogue Leaders of top regional and international companies in the Middle East and North Africa region highlighted crucial priorities for governments and the cooperation needed with international organizations and the private sector for promoting a sustainable economy. They were speaking...

Yemen has been devastated by a civil war between the Saudi-backed government and Iran-backed Huthi rebels since 2014.

What makes Dubai a tourist hub and an essential market for sustainable surfing is the region’s proximity to the sea? Okahina Wave's CEO Laurent Hequily has answers.

European and UK gas prices rocketed Tuesday to all-time highs on strong winter demand and simmering geopolitical tensions between key supplier Russia and consumer nations. Europe's reference Dutch TTF gas price jumped nearly 20 percent from Monday to hit 175.00 euros per megawatt hour in early afternoon trading. Meanwhile, UK...

Lebanon needs to receive 12 to 15 billion dollars from its partners to kickstart its economic recovery and shore up fast-diminishing foreign currency reserves, Central Bank Governor Riad Salameh said Tuesday. Lebanon is grappling with an unprecedented economic crisis branded by the World Bank as one of the planet's worst...

Local traders say that the number of foreign shoppers has risen four to fivefold. Turkey's lira has crashed after Erdogan pushed the central bank to slash interest rates in fervently-held belief that this will finally cure Turkey's chronic inflation problem.

The OECD rules will ensure that multinational corporations pay a minimum 15% tax rate from 2023.

China Mobile is set to raise $7.64 billion in share listing.

The main reason for high inflation rates in the GCC countries is a rebound in prices in the sectors that were affected the hardest during the Covid-19 crisis, Chief Economist at Oxford Economics Middle East, Scott Livermore, tells TRENDS in an interview.

Turkey's troubled lira on Monday pared back some of its historic losses after President Recep Tayyip Erdogan announced new currency support measures that analysts interpreted as an indirect interest rate hike. Erdogan has pushed the central bank to sharply lower borrowing costs despite the annual rate of inflation soaring to...

The most common way to quantify the economic health of a country is by calculating its gross domestic product (GDP).

The high-powered meeting scheduled for January 17-21, which usually draws leading figures from business, politics and diplomacy, will instead be held in "early summer", the organizers said. Last year's edition was canceled because of the pandemic.

Lawmakers from Israel also approved the health ministry recommendation to bar Israelis from travel to France, Ireland, Norway, Spain, Finland, Sweden, and the United Arab Emirates.

Lebanon is in the throes of an economic meltdown that has been called by the World Bank as among the planet's worst since the 1850s. The crisis is widely blamed on nepotism and corruption among the country's ruling class.

The insights from the Dubai Chamber study were released during a business seminar titled The Road Ahead: UAE and Dubai Economic Outlook and Opportunities in Dubai Exports. They pointed to a positive and robust recovery for the UAE economy over the next five years.

Nayef Steitieh told field managers in his ministry and across governorates to also look to replace expatriate workers with those from Jordan.

Turkey has been rattled by a currency collapse that accelerated by President Recep Tayyip Erdogan’s last-month steps that defy conventional policies.

The Saudi Public Health Authority has also announced new precautions for travelers entering the country.