GCC countries will witness a rise in their wealth between 2021 and 2026 after two years of challenging time due to the Covid-19 pandemic, a BCG report points out.

Due to an improvement in business conditions in July, Saudi Arabia has posted a strong growth in job numbers in the non-oil sector, according to the latest Purchasing Managers Index data report from S&P Global.

The International Monetary Fund (IMF), in its World Economic Outlook, 2022 said that the Saudi economy will register a 7.6 percent growth rate this year. This would be the highest growth rate among advanced, emerging market and developing economies.

Higher-than-expected inflation, especially in the United States and major European economies, is triggering a tightening of global financial conditions.

Prime Minister of Egypt Mostafa Kamal Madbouly witnessed a signing ceremony Monday in Cairo that welcomed Bahrain as the fourth country to join the Industrial Partnership for Sustainable Economic Development, which includes the UAE, Jordan and Egypt.

The net profit rose to $82.5 million for the second quarter.

The IT spending in the MENA region will hit US$1.7bn in 2022 as the governments are using technology to streamline digital services and improve residents' experiences.

Moody’s has projected the economy of Saudi Arabia to post growth rate of around 3.9 percent from 2022 to 2026.

Dubai issued 45,653 new business licenses in the first half (H1) of 2022, registering a growth of 25 percent compared to the same period last year. The numbers reaffirm the success of the government's innovative new strategic approaches and policy amendments that have revitalized the economy.

The combined investments in the MENA power sector includes US$93 billion which has already been committed.

Dubai Chamber of Commerce achieved record growth in new membership in the first half of 2022 as more than 21,000 companies joined the Chamber during the period, bringing total membership to over 308,000. An 80 percent year-over-year (y-o-y) surge in new members was recorded between January and June 2022 as...

The tourism sector of the Jordanian economy has seen a huge growth, with more than 1.9 million visitors arriving in the kingdom during the first six months of the current year Tourism Minister Nayef Al-Fayez described the situation as reassuring. He said the return of expatriates was an important component...

Total assets of the bank have increased by 4.8 percent compared to June 2021 and now stand at QAR 193 billion.

The EU executive, which tracks the economy of the 27 countries in the European Union, said GDP growth in the eurozone would reach 2.6 percent in 2022 and a sharply lowered 1.4 percent in 2023. Inflation would end the year at 7.6 percent, much higher than previously forecast, and 4.0...

Saudi Arabia's non-oil economy has recorded a strong improvement in business conditions in June, according to the latest Purchasing Managers Index data report from S&P Global.

UAE Minister of Industry and Advanced Technology Dr Sultan bin Ahmed Al Jaber said the country continues to empower the industrial sector and increase its competitiveness by leveraging its resources, advantages and capabilities

The international community must adopt an approach that could translate words and goodwill into practical steps that could achieve equality in economic recovery among countries and salvage the sustainable development goals in a way that could support the poor peoples and those suffering from turmoil and wars, he adds.

The agreement is the first of its kind that the UAE has signed with any country, and it is India's first with any country in the Middle East and the Gulf region.

While the global economy has been slowing down, the picture looks very different across regions and geographies. This is based on the expectation that inflation will moderate, supply chain constraints ease and geopolitical conflicts do not worsen, a report by Qatar National Bank has highlighted.

The strength of the Dubai economy, the flexibility of the emirate's merchants and the value of Dubai Chamber of Commerce services drive chamber members' exports to grow by 15.8 percent during January-May 2022, said Abdul Aziz Al Ghurair, Chairman of Dubai Chambers.

Middle East, Africa and Southern Asia (MEASA) has the world’s highest growth potential, according to a report by the New York University Abu Dhabi (NYUAD) Transition Investment Lab (TIL). The TIL marked its first year of activities by publishing its inaugural Annual Report, which studies how sustainable investments can contribute...

The current rebound is due mainly to strong growth in oil exporters boosted by rising oil revenues and a general waning of the pandemic’s adverse impacts in highly vaccinated countries. The growth, however, will slow abruptly in 2023 and 2024 across the region, the report adds.

The two Gulf countries score high consistently on all seven parameters used to measure the status of an economy.

The UAE and US economic ties are expected to grow in healthcare, energy sustainability, space, and digital economy, with the bilateral trade touching $22 billion between the two countries.

Tokyo stocks opened lower on Wednesday after US stocks mostly retreated on concerns about growth following a profit warning from the owner of Snapchat that shocked the tech sector. The benchmark Nikkei 225 index was down 0.13 percent, or 36.02 points at 26,712.12 in early trade.

The Financial, Economic and Industrial Affairs Committee of the Sharjah Consultative Council (SCC) reviewed its strategic plans to promote the growth of the private sector. As part of its third ordinary session of the 10th legislative chapter, the committee stressed that its vision, supported by Dr. Sheikh Sultan bin Muhammad...

The growth of streaming service has slowed down in recent past.

Amanat recorded a total income of AED46.9 million

The regional economies in the creative sector are growing at a faster rate than inflation, says Michael Garin, General Director of Abu Dhabi Creative Authority.

Pfizer reported another quarter of huge revenues growth because of its Covid-19 vaccine on Tuesday, but lowered the company's full-year profit forecast due in part to shifts in foreign exchange. The major American drugmaker reported revenues of $25.7 billion for the first quarter, up 77 percent from the year-ago period.

The growth was fueled by oil activities that increased by 20.4 percent. Non-oil activities saw a rise of 3.7 percent, with government services activities growing by 2.4 percent year-on-year.

The preliminary results come after the world's biggest oil exporter resisted US entreaties to raise output in an attempt to rein in prices that have spiked since the Ukraine war began.

The French economy reported zero growth in the first quarter as households reduced their consumption due to rising inflation and the war in Ukraine, the national statistics agency said Friday. The French annual inflation rate also accelerated to 4.8 percent in April, up from 4.5 percent the month before.

Economic growth in the eurozone accelerated and hit a seven-month high in April, a key survey showed on Friday, despite concerns about inflation and Russia's war in Ukraine. Meanwhile goods and services prices rose at an unprecedented rate in April amid another near-record rise in firms' costs.

Nestle raised prices due to inflation, and signaled more hikes.

"Growth in Morocco is projected to slow to 1.1 percent in 2022, as agricultural output declines by 17.3 percent due to the drought,” the WB said in its latest MENA Economic News Bulletin.

The war in Ukraine has undercut the global recovery, slowing expected economic growth in most countries in the world, IMF Managing Director Kristalina Georgieva said Thursday. Families already were struggling with higher energy and food prices and "the war has made this much worse."

European Central Bank policymakers meet on Thursday faced with the challenge of threading a response between record-high inflation figures and weak growth due to the war in Ukraine.

The Abu Dhabi-based firm has an office in Cairo.

In a monthly report, the OPEC said world demand would rise by 3.67 million barrels per day (bpd) in 2022, down 480,000 bpd from its previous forecast

UAE received $20.7 billion in Foreign Direct Investment in 2021, recording a 3.9 percent growth over 2020. The country’s FDI balance now stands at AED 630 billion ($171.6 billion) by the end of 2021, a 13.7 percent growth over 2020. Over the past ten years, FDI inflows into the country...

The Saudi Finance Ministry has forecast the kingdom's real gross domestic product to grow by 7.4 percent.

The non-oil private sector of Saudi Arabia has recorded more growth in March than it did in more than four years, driven by improvements in purchasing and supply deliver times.

Dubai Chamber of Commerce facilitated 1,500 bilateral business meetings between UAE investors and their global counterparts, and received 1,746 visiting delegations from over 60 countries during the mega event, which were joined by 3,350 government and business leaders. Seven new economic and professional bodies were licensed by the Dubai Association...

Those countries "that have a common border with either Russia or Ukraine" would be particularly affected, while bearing the brunt of refugee flows from Ukraine, said the OECD report.

Saudi Arabia has reported a robust growth in its economy, posting a 3.2 percent increase in the gross domestic product, a year after its economy struggled with recession.

GCC companies should work closely with digital and software companies to expedite digital transformation, says Fahad Al Hassawi, CEO of du, in an exclusive interview with TRENDS.

The two countries discussed cooperation in establishing an advanced digital infrastructure.

The adjusted EBITDA growth was 15.3 percent ($3.828 bn) and capital expenditure $1.393bn.

DH is Dubai’s commodities and mining investment arm.