"Growth is still projected to increase in 2025 and 2026, but at a considerably slower pace than anticipated last October," the IMF said in its regional report.

UNCTAD report '"Trade and Development Foresights 2025 – Under pressure: Uncertainty reshapes global economic prospects” cited mounting threats including trade policy shocks, financial volatility and a surge in uncertainty that risk derailing the global outlook.

Muscat, Oman -- Travel and tourism sector's contribution to the Gulf's GDP by the end of 2024 reached approximately 11.4 percent, with a value of $247.1 billion. The latest data released by the Statistical Centre for the Cooperation Council for the Arab Countries of the Gulf (GCC-Stat) indicated that the growth rate...

Dubai, UAE -- The UAE’s real GDP increased by 3.8 percent during the first nine months of 2024 compared to the same period in 2023, reaching AED 1.322 trillion. This growth was driven by a strong expansion in non-oil sectors, which grew by 4.5 percent to AED 987 billion, reflecting...

The region, fueled by ambition and massive investment, is rapidly advancing in technology and infrastructure, aiming to secure a leading role in the 4IR.

Dubai, UAE -- The International Monterey Fund (IMF) has projected global growth to remain at 3.3 percent this year and the next, before slowing to just above 3 percent over the next five years, well below the historical average.IMF Managing Director Kristalina Georgieva said that growth in the Middle East...

The Dubai College of Tourism (DCT) is driving innovation in hospitality training through technology, vocational education, and industry collaborations. With digital platforms like ‘Dubai Way’ and partnerships with Coursera and top hotels, DCT is equipping a skilled workforce to support Dubai’s growth as a global tourism hub.

Abu Dhabi, UAE - The UAE’s technology industry is set to achieve record growth in 2025, driven by significant expansion in digital innovation and the adoption of cutting-edge technologies. This growth further solidifies the UAE’s stature as a global hub for innovation and an international beacon for tech companies.The UAE...

The World Economic Situation and Prospects (WESP) 2025 report shows that despite withstanding a series of mutually reinforcing shocks, global economic growth has stagnated and remains below the pre-pandemic annual average of 3.2 percent. The report produced by the UN Department of Economic and Social Affairs (DESA), highlights the enduring...

Doha, Qatar – Qatar’s non-energy private sector recorded robust growth in the final months of 2024, according to the latest Purchasing Managers' Index (PMI) data from the Qatar Financial Centre (QFC) and compiled by S&P Global.The labour market was a key driver of this growth, with employment and wages increasing...

Singapore - Oil prices extended gains on Friday after closing at their highest in more than two months in the prior session, amid hopes that governments around the world may increase policy support to revive economic growth that would lift fuel demand.Brent crude futures rose 16 cents, or 0.2 percent,...

While the organization raised its 2025 global growth forecast to 3.3 percent, it cautioned that "greater trade protectionism, particularly from the largest economies" poses a "downside risk" along with geopolitical tensions and high public debts.

While developing countries paid a record US$1.4 trillion to service debts, the non-oil sectors in the GCC countries are fueling growth and diversification,

In its new World Economic Outlook (WEO) report, the International Monetary Fund also estimates that global inflation will continue to ease, hitting 5.8 percent this year, before falling to 4.3 percent in 2025. "We are seeing inflation moving in the right direction without a major slowdown in economic growth or...

San Francisco, United States - Netflix on Thursday said it added more than five million subscribers in the recently ended quarter but signaled slowing growth.The streaming juggernaut said it ended September with 282.7 million subscribers, reporting a profit of $2.4 billion on revenue that jumped 15 percent compared with the same...

In 2024 and 2025, inflation is expected to gradually abate, allowing real incomes to grow again in advanced economies, boosting consumption of manufactured goods. “A recovery of demand for tradable goods in 2024 is already evident. This is related to an increase in household consumption linked to improved income prospects.,"...

Dubai, UAE - Dubai's real estate market reached a new peak in July, with sales hitting an all-time high of AED50.1 billion ($13.6 billion). Although the market continued to grow, the year-on-year increase slowed to 33% from 53% in June, reflecting a high base effect from the same period in...

The International Monetary Fund expects the world economy to grow 3.2 percent this year, unchanged from its April forecast, according to its World Economic Outlook update. "Global activity and world trade firmed up at the turn of the year, with trade spurred by strong exports from Asia," said the fund....

Factors such as increased foreign investment, ambitious urban projects, and favorable regulatory reforms are expected to propel the real estate market forward, creating new opportunities for investors and stakeholders alike.

The region's luxury goods market was worth US$ 10.52 billion in 2023, with long-term growth expected, reaching US$ 13.70 billion by 2028.

Vast swathes of land across the desert region are seeing the sprouting of new special zones to entice big business to set up shop. But can the model work to power the GCC economy?

The growth of the space industry will largely be built upon the increased reach of space-based and/or -enabled technologies, such as communications, positioning, navigation and timing, and Earth observation.

The burgeoning construction sector in Saudi Arabia is fostering the expansion of its talent pool and consolidating its regional leadership, says Barry Lewis, CEO at ALEC, in an interview with TRENDS.

Bangkok, Thailand--Asian economies are not doing as well as they could and growth in the region is forecast to slow to 4.5 percent this year from 5.1 percent in 2023, Associated Press (AP) quoted a World Bank report as saying on Monday.Debt, trade barriers and policy uncertainties are dulling the...

Sharjah, UAE--Expo Centre Sharjah (ECS) has unveiled its future projects and forthcoming initiatives to develop and enhance the exhibitions sector and bolster its role in driving the growth of Sharjah’s economy.Promoting the emirate’s business tourism potential and opening up growth prospects across various sectors, the ECS’s plans are geared towards...

Shenzhen, China--China's manufacturing activity expanded for the first time in six months in March.The official purchasing managers' index (PMI) rose to 50.8 in March from 49.1 in February, above the 50-mark separating growth from contraction and topping a median forecast of 49.9.Though the pace of growth was modest, it was...

"These banks excel not only in financial performance but also in adapting and innovating. Through partnerships with global entities like Mastercard and initiatives like the Trade Bank of Iraq's online banking system, accessibility to financial services has greatly improved," she added.

The banking sector across the GCC has demonstrated formidable growth and profitability, with Qatar leading in several key performance indicators, say KPMG, Fitch reports.

Abu Dhabi, UAE--The Organisation of the Petroleum Exporting Countries (OPEC) has called for increased investments in the oil industry to meet global energy demands and sustain economic growth.According to its secretary general, Haitham Al Ghais, these investments are crucial for ensuring reliable energy supplies for current and future generations.In statements...

The Board of Directors of both Nakheel and Meydan will be abolished.

Dubai, UAE--A study undertaken by Dubai Chamber of Commerce has revealed that Indian investors topped the list of nationalities of new non-UAE businesses joining the chamber last year. A total of 15,481 new Indian-owned companies became members in 2023, representing year-over-year (YoY) growth of 38 percent and underlining Dubai’s continuing...

Dubai, UAE--Total spending using international cards in the UAE witnessed a growth of more than 25% during the year 2023.J.K. Khalil, General Manager, MENA East, Mastercard, told Emirates News Agency (WAM) that digital payments continue to experience remarkable growth in the UAE, with more users and companies opting for them...

The company’s 2023 annual revenue rises to US$1.2 billion.

Doha, Qatar--Governor of Qatar Central Bank Sheikh Bandar bin Mohammed bin Saoud Al-Thani has called for strengthening joint action among the Arab Gulf states, especially in light of the economic and financial challenges that the world is experiencing in relation with growth, sustainable development, financial stability, and interest rate policies,...

The 50% cash dividend would be to the tune of US$2.12bn.

Dubai, UAE - The UAE’s foodservice market is poised to reach $19.98 billion in 2024, with further projections indicating a substantial growth trajectory, a whitepaper released by real estate services firm JLL has revealed. The whitepaper highlights the unprecedented growth opportunities within the UAE's Food and Beverage (F&B) industry. The report emphasizes the...

Toll usage revenue rose 11.7% YoY to US$502million.

Abu Dhabi, UAE-- The UAE has expanded its network of trading partners around the world through comprehensive economic partnerships, contributing to increasing trade and investment flows and enhancing global economic growth, according to top officials from the country.Top economic officials have stressed the UAE's significant role in supporting the free...

The market value of its net assets crossed US$5.66bn.

Head of Tunisia's trade union confederation Noureddine Taboubi said in a speech to protestors that the economic and social situation continues to worsen in the country, slamming the implementation of "diktats from the International Monetary Fund" (IMF) at the expense of ordinary Tunisians.

Dubai, UAE - The International Monetary Fund (IMF) in a report has indicated that the global economy is on course for a soft landing, despite ongoing weaknesses in activity and growth prospects. "The cyclical position of G20 countries has proven stronger than previously anticipated as disinflation has so far proceeded...

It will collaborate with Abu Dhabi Investment Office.

e& said the net profit is a growth of 3 percent year-over-year.

Its revenue jumped 41% to US$748 million in 2023.

Sharjah, UAE--The Sharjah Chamber of Commerce and Industry (SCCI) and the Oman Chamber of Commerce and Industry (OCCI) discussed ways of enhancing cooperation in the investment field and developing mechanisms for promoting the joint efforts aimed at supporting the business community in Sharjah and Oman.The two sides explored promising opportunities...

From Saudi Arabia to the UAE and Qatar to Kuwait, governments across the region compete to jumpstart industrial sector but doubts remain whether it can be pulled off.

Abu Dhabi, UAE-- The UAE's real GDP will grow 5.3 percent in 2024, compared to 3.4 percent in 2023, according to S&P Global Ratings, the world's leading credit rating agency.The credit rating agency in a new report said that UAE banks reported exceptional profits for the full year 2023 due...

Vienna, Austria - The OPEC Fund for International Development allocated US$1.7 billion across 55 projects globally in 2023, providing funding to address climate change and energy transition, support social and economic resilience and boost sustainable growth.The organization was established 48 years ago and the 2023 results represent a record in...

BEIJING, CHINA - China's economic slowdown is likely to persist in the coming years as the Asian giant struggles with sagging productivity and a rapidly aging population, the International Monetary Fund (IMF) said on Friday.The world's second-largest economy last year saw some of its slowest growth in decades, as a debt...

Abu Dhabi, UAE--Despite geopolitical uncertainties and potential economic headwinds, S&P Global expects GCC banks to maintain their well-capitalised, profitable, and liquid status.S&P Global‘s ‘GCC Banking Sector Outlook 2024’ reveals a challenging yet optimistic perspective. The ratings agency anticipates overall stability in key metrics for GCC banks in 2024. Credit growth...