Saudi Arabia is planning to invest US$36bn in logistics and aims to become a regional hub for the shipping sector, a position enjoyed by the UAE for many years.

President Sheikh Al Nahyan decrees that all ministries, government authorities and institutions should make these 10 Principles as guidelines in their directives and decisions. They should also work the implementation of these principles through their plans and strategies.

At least 136 countries have backed a landmark agreement to set a new minimum tax rate for companies around the world.

A drop in Saudi joblessness during the second quarter of the current fiscal year from 11.7 percent to 11.3 percent is seen as a sign of a healing economy, according to investment bank Jadwa.

"It brings me great joy and pleasure to officially announce the official launch of FTA negotiations between GCC countries and UK today," Zayed bin Rashid al-Zayani, Bahrain's minister of industry, commerce and tourism, said late Friday.

The region’s average real GDP per capita is forecast to increase by only 1.1 percent in 2021 after declining an estimated 5.4 percent in 2020.

This was the second consultation between the two countries' chief trade negotiators after relations were seriously damaged under former US president Donald Trump.

A Swiss newspaper claimed Riad Salameh struck out 14 pages of a 2016 IMF report that warned of economic crisis in Lebanon.

FedEx Express is a subsidiary of FedEx Corp.

The region’s per-capita GDP is forecast to grow by only 1.1 percent this year after declining by about 5 percent in 2020.

The national drive aims to achieve net-zero emissions by 2050, making the UAE the first MENA to do so.

The Abu Dhabi Development Fund received a delegation from the Central Bank of Egypt.

The investigation by law firm WilmerHale released last month found that during Georgieva’s time as World Bank CEO, she pressured staff into changing data to China's benefit

Saudi Arabia banned the major broadcaster, which holds the rights to the English Premier League (EPL) and other top competitions, in 2017 at the start of a diplomatic and transport blockade of Qatar which ended in January. "Saudi Arabia's 4.5-year illegal ban on beIN is going to be reversed," a...

The Muscat Stock Exchange closed on Wednesday, up 0.17%, or 6.9 points, from the previous trading session, which amounted to 3,947 points, after Cyclone Shaheen forced its closure.

With an improvement in global oil demand, the World Bank has predicted Saudi Arabia’s average gross domestic product to reach 2.4 percent in 2021 and 3.3 percent the next year.

Europe's reference Dutch TTF gas price hit 162.12 euros per megawatt hour and UK prices leapt to 407.82 pence per therm in morning deals.

The full report will be published next Tuesday and updates the estimates the IMF made in July, when it predicted inflation would return to pre-pandemic levels at some point next year. Prices worldwide have crept up throughout this year as economies bounce back from the sharp contraction the Covid-19 pandemic...

The total number of permits being granted by Israel to Palestinian labourers in Gaza is 7,000.

Telecom companies in Lebanon have joined the long list of at-risk industries and institutions because of the financial and economic crisis that has led to shortages of, among others, fuel to make electricity. Telecom services, including the internet, were intermittently suspended in several regions in recent months.

Jordan’s Ministry of Industry, Trade and Supply will be establishing these projects as part of its implementation of the government's economic priorities towards improving investment environment in the country. This requires a review of the current support and incentive program for industrial activities.

KUWAIT: A delegation from the Federation of UAE Chambers of Commerce and Industry and officials of the Kuwait Chamber of Commerce and Industry have discussed ways of boosting cooperation and promoting investment opportunities in the two countries. The discussion happened at a meeting attended by Abdullah Mohamed Al Mazrouei, Chairman...

A new electoral law in Iraq will mean that when Iraqis go to the polls on Sunday, they will vote for individuals rather than parties. This is the country’s fifth election since the US toppled the Saddam Hussien regime in 2003.

Bahrain plans to double its VAT rate to 10 percent, which is likely to drive its citizens to shop in the neighboring United Arab Emirates.

There has been a sharp growth in Saudi Arabia’s non-oil private sector in September, the fastest in seven years, according to HIS Markit.

UAE Minister of State Ahmed Ali Al Sayegh recently met with Australian Minister for Trade, Tourism and Investment Dan Tehan for discussions.

The DFSA set up the Innovation Testing Licence (ITL) Programme to encourage innovation in the Dubai International Financial Centre and protect the market against risks.

Saudi Arabia had achieved contactless payment adoption of 94 percent, which is higher than even the EU.

The law to include features of gold-standard data protection regulations such as Europe's GDPR (General Data Protection Regulation), the UK's Data Protection Act, the DIFC's Data Protection Regulation and the ADGM's Data Protection Regulation.

Supply-side issues such as semiconductor scarcity and port backlogs may strain supply chains and weigh on trade in particular areas, but they are unlikely to have large impacts on global aggregates. The biggest downside risks come from the pandemic itself.

Jordan’s King Abdullah II on Sunday received World Bank Group President David Malpass at the Basman Palace.

Raging political crises across the region have negatively impacted the economies of several countries. Consequently, spending on research has barely increased since 2014.

S&P has revised up Oman’s credit outlook to positive from stable on the expectation that the sultanate’s reform program will limit increases in government debt in the coming years.

Saudi Arabia is confident that it will have budget surpluses from 2023 with the kingdom’s economy showing a “noticeable and anticipated uptick.”

Fahad Hejji, the First Secretary of the Permanent Mission of the State of Kuwait to the United Nations, has said at the UN that women from his country play a significant role in the development and modernization of society, and they have offered invaluable contributions to the national efforts to...

Saudi authorities will require people to have double immunization starting at 6 am on October 10 if they are to go to places.

UNRWA Commissioner-General Philippe Lazzarini told reporters at the UN headquarters in New York that the organization needed "predictability" for its operations.

World’s proven crude oil reserves stood at 1,549 billion barrels in 2020, increasing by 0.2 percent from the level of 1,546 billion barrels recorded in 2019, according to the 2021 edition of its Annual Statistical Bulletin. The publication contains time-series data detailing key aspects of the petroleum industry, such as...

The Middle East has 25% of the worldwide gaming audience, followed by Latin America 13.9%, the Asia Pacific 9.2%, Western Europe 4.8%, and North America 4%.

Al-Rajhi Capital believes that Saudi oil revenues will touch $145.3 billion at the end of 2021, while total state revenues could go up to $246 billion. The assessment was made on the Saudi budget forecast released on Thursday.

Jordanian Prime Minister Bishr Khasawneh met his Lebanese counterpart Najib Mikati to discuss cooperation and help Lebanon.

The Saudi delegation of the trade system was headed by Minister of Commerce Majid Al-Qasabi.

The full expo site has opened its doors to exhibitors from almost 200 countries.

The event, sponsored by the Arab League and organised by Terrapinn, was held at the Dubai World Trade Centre.

Robert Clark praised the UAE for transforming “the sands of the desert into a thriving World’s Fair site, complete with spaces for 192 nations to connect.

DUBAI: Kuwait's participation at Expo 2020 Dubai is "biggest" in terms of pavilion size and range of activities, the pavilion's director said on Thursday. A total 200 government and private bodies across a diverse array of sectors are set to contribute to the booth over the coming six months, Bader...

Digital transformation brought about by COVID-19 has made banks more open to branchless and cashless banking enabling them to perform better in H1 2021 than they did in the same period last year.

Kuwait will nudge job seekers in the country toward the private sector in order to reduce state wage bill. The country’s cabinet has asked its Manpower Authority to get another 100,000 citizens working in the private sector in the next four years.

Heavily in debt, with spiraling inflation and widespread unemployment worsened by the coronavirus pandemic, Tunisia is hoping for a bailout package from the IMF. But talks have been suspended since President Kais Saied on July 25 sacked the government.

Saudi Arabia expects to post a deficit of 2.7% of gross domestic product this year and to reduce it further next year, to 1.6% of GDP, it said in a preliminary budget statement for 2022.