Abu Dhabi, UAE--The MENA region's commercial aircraft services market will more than double in value by 2042, according to Airbus’ latest Global Services Forecast (GSF). Growing to US$28 billion from US$12 billion, and registering a 4.4 percent average annual growth, the regional expansion will surpass the global average growth of...
Faster hydrogen production needed for energy transition: WTO
Abu Dhabi, UAE-- In order to speed up the energy transition there must be a fast increase in the production of green hydrogen, according to a joint report by the International Renewable Energy Agency (IRENA) and World Trade Organisation (WTO). The report published on December 9 provides insights into global...IMF forecasts UAE GDP growth of 3.4% in 2023
MARRAKESH, MOROCCO - The International Monetary Fund (IMF) has forecast that the UAE's real Gross Domestic Product (GDP) will grow by 3.4 percent in 2023 and 4 percent in 2024. The IMF's forecast is in line with that of the World Bank, which released a similar estimate two days ago. The...
Russian economy to grow 1.5 percent this year, says key European bank
After having forecast a contraction earlier this year in Russia's economy, the European Bank for Reconstruction and Development is now expecting the country's economy to grow in 2023 thanks to rising oil prices. The bank said in May it expected Western sanctions against Russia"to be more effective in constraining the...
EU’s imports in high-tech products worth $524bn in 2022
BRUSSELS, BELGIUM - The EU imported US$524 billion (€482 billion) worth of high-tech products from extra-EU countries in 2022 (+22 percent compared with 2021), according to an estimate published by Eurostat, the statistical office of the European Union . Exports to these countries reached US$485 billion (€446 billion) (+16 percent...
British economy performs better in late 2022: official data
London, United Kingdom--The British economy performed slightly better than previously estimated in the final quarter of last year as it expanded by 0.1 percent, revised official data showed Friday. The Office for National Statistics (ONS) initially said growth had been flat in the October-December period. Either way, the UK narrowly avoided...
Saudi Cement Q2 revenue up 17%
It registered revenue of SR348 million ($92.8 million) in Q2.
