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.

The number of registered educational companies within the Ajman Free Zone (AFZ) grew by 17 percent in 2021 compared to the previous year. The free zone is home to more than 240 educational facilities in 2021, reaffirming its keenness to advance the sector in the Emirate of Ajman, AFZ said....

e&, the UAE telecom firm, is looking to widen its operations overseas and push growth across all business segments.

Digital economy has driven the startup investment upsurge in the MENA region in 2021.

A year after it posted sharp growth, global trade in goods and services is expected to slow down, according to the UN's estimate.

The industry, stabilized significantly with experienced surgeons and the availability of good facilities, woo a sizable number of foreign clients to UAE during the pandemic.

Dubai International Financial Centre (DIFC) has reported its best annual performance to date, recording its highest ever annual revenue and operating profit besides the highest ever company registrations. DIFC said it achieved its 2024 Strategy growth targets three years ahead of schedule during the first half of 2021. The Centre...

Trade between Brazil and Arab countries grew by 44 percent during 2021, with food exports alone reaching an estimating $14 billion, its highest since 2012, said Tamer Mansour, CEO of the Arab Brazilian Chamber of Commerce. This comes as Arab countries, especially in the Gulf region, are combating the pandemic...

The consolidated revenue stood at AED53.34 billion ($14.52 billion).

Saudi Arabia recorded a growth in air cargo traffic during 2021 compared to 2020, with the total air cargo until the end of December of 2021 amounting to more than 653,000 tons. The civil aviation sector is working to contribute to supporting the field of air freight and enabling the...

Jordan is looking to reform its old tax system in order to pave way for growth in national economy. In this regard members of the Jordan Economic Forum (JEF) presented many ideas during a virtual JEF dialogue session held recently.

The discussions are said to have taken place at Qasr Al Watan, the presidential palace.

France's economy grew at its fastest pace since 1969 last year, official data showed Friday, enjoying a strong rebound from coronavirus lockdowns fueled in part by massive government support.

Economic growth in the eurozone slowed sharply in January, a key survey showed Monday, as new coronavirus restrictions hit consumer spending, raising a new obstacle for the region's recovery.

The assets of Jordan's Social Security Investment Fund (SSIF), the investment arm of the Social Security Corporation (SSC), jumped by JD1.1 billion in 2021 to reach JD12.3 billion, according to Kholoud Saqqaf, the fund’s CEO. The figures mark a 10-percent growth year-on-year. In 2020, the fund’s assets stood at JD11.2...

Growth in the fourth quarter was the slowest in more than a year, at 4 percent, down from 4.9 percent from July to September.

AD Ports Group signed several partnerships to accelerate trade and the development of industry in the UAE and beyond, including working closely with Abu Dhabi National Oil Company (ADNOC) to enhance safety across Abu Dhabi’s waterways and collaboration with France-based CMA CGM Group to invest AED570 million in a new...

KPMG International announced annual aggregated revenues for KPMG firms globally of $32.13 billion for the fiscal year ending 30 September 2021. Reporting a 10 percent increase in US dollar revenues from 2020, this follows an extensive period of investment and focus on priority services and solutions addressing the challenges faced by...

The non-oil private sector of Saudi Arabia continued to grow in November on the back of strong demand and modest price pressures for businesses, but lower growth of new orders meant it was the least marked expansion since August.

Saudi Arabia will see a strong economic growth in the fourth quarter of 2021, due to a high oil production not seen since April 2020.

The OECD warned Wednesday that the Omicron coronavirus variant threatens the global economic recovery as it lowered the growth outlook for 2021.

Dubai Airport Freezone Authority (DAFZA) has signed a strategic cooperation agreement with Export Bahrain, establishing frameworks for technical collaboration.

More than 55,000 new business licenses were issued during the first ten months of 2021 by the Business Registration and Licensing sector at Dubai’s Department of Economy and Tourism.

Airbus says the Middle East will need more than 3,000 aircraft by 2040.

An unemployment rate of more than 11 percent and the crisis impact on entrepreneurs and startups major concerns in the region, says IMF chief.

It fell nearly four percent to 10.41 to the dollar before clawing back some of its losses ahead of a meeting Thursday at which the central bank is expected to lower interest rates for the third successive month. Turkey's nominally independent bank has bowed to incessant pressure from President Recep...

The economy of China is weighed down by electricity shortages and a vast real-estate crisis.

Dubuy.com aims to provide Kenya a secure and reliable way for its businesses to grow.

Mashreq Bank, the UAE lender, has seen its net profit drop off by a quarter in the first nine months of the year despite a strong growth in operating income.

Compared to the growth of only 0.7 percent in the second quarter of this year, Saudi Arabia's economy is likely to have grown by about 5.7 percent in the third quarter. The spurt in growth is thanks to a robust hydrocarbon sector output, London-based Capital Economics said in a report...

The Global Manufacturing and Industrialisation Summit (GMIS) announced on Thursday a partnership with First Abu Dhabi Bank (FAB), that will explore the latest trends and opportunities to improve access to finance for Small and Medium Enterprises (SMEs) and drive sustainable industrial growth both globally and in the UAE. Through joint...