Riyadh, Saudi Arabia -- Saudi Arabia maintained its first rank across MENA in terms of Venture Capital (VC) funding in 2024, witnessing a total VC deployment of $750 million (SAR2.8 billion). The "2024 Emerging Markets Venture Capital Report", published today by the venture data platform MAGNiTT, said the Kingdom secured...

WASHINGTON, US - The World Bank expected the UAE's real GDP to grow by 3.4 percent in 2023, rising to 3.7 percent in 2024 and to 3.8 percent in 2025. According to the Global Economic Prospects report released on Tuesday, the World Bank forecast the growth in the Gulf Cooperation...

DUBAI, UAE - International Labor Organization (ILO) Deputy Regional Director for the Arab States Peter Rademaker has confirmed that the Middle East and North Africa (MENA) region could create 10 million new jobs and accelerate GDP to 7.2 percent by 2050 via taking a serious approach to climate action. In...

Dubai, UAE -- Despite global economic uncertainties, the construction industry in the Middle East and North Africa (MENA) awarded a staggering $101 billion worth of projects in the first half of 2023, a report by JLL's Construction Market Intelligence said, based on insights gathered from industry experts and sources. The...

WASHINGTON, US - The growth of the economies in the Middle East and North Africa (MENA) is expected to fall sharply this year, the World Bank said. The region’s gross domestic product (GDP) is expected to fall to 1.9 percent in 2023 from 6 percent in 2022, due to oil...

Saudi Arabia has reentered into this year's Kearney FDI Confidence Index, which ranks the markets likely to attract the most investment in the next three years.

Dubai, UAE -- Remittance flows to the Middle East and North Africa (MENA) are expected to increase marginally in 2023 and 2024 after witnessing a nearly 4 percent drop in 2022 to $64 billion, a World Bank report said. The remittances are likely to increase by 1.7 percent in 2023...

ABU DHABI, UAE - The Statistics Center - Abu Dhabi (SCAD) has released the Gross Domestic Product (GDP) estimates report for 2022, unveiling a remarkable 9.3 percent  growth by the end of the year, compared to 2021. The new figures position the Emirate as the fastest-growing economy in the Middle...

Abu Dhabi, UAE - Abu Dhabi has been named the smartest city in the Middle East and North Africa (MENA) region for the third consecutive year, according to the IMD Smart City Index.  The study surveyed 120 residents in each of the 118 cities worldwide and evaluated infrastructure and digital...

Many countries in the region have invested in education and provided better access to technology-related fields, resulting in women graduating with engineering degrees at higher rates than more technologically advanced countries such as the US, the UK, and Japan.

The company announced Earnings Per Share of 10.1 fils.

The 2022 Corruption Perception Index says corruption is undermining democratic processes and fueling violence in the Middle East and North Africa region.

The emirate has launched a number of initiatives in recent years as it focuses on diversifying its economy away from oil.

The summit, which will be held from 23-25 Jan, 2023, ""will shed light on the strong impetus and promising prospects of the IPO sector in Dubai". The emirate's media office said the summit comes on the back of a record IPO activity in 2022.

Raising capital, in general, has become difficult for startups in wake of global and regional issues but the Kingdom is in better position, says Nomow's Sumaya Ali Algabbass.

The company also announced the winning products of the Co-Innovation Award, the launch of the first Local Technology Guide in the Middle East and North Africa.

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

Rising cyber attacks on network infrastructure in countries across the world, which pose a significant threat to the economies of these countries, will be the focus of the 10th edition of MENA Information Security Conference (ISC) 2022 in Riyadh in September this year. MENA ISC is one of the most...

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.

Yalla is leading UAE-based voice-centric social media platform.

The report also claimed that the value of early-stage deals for startups in the region doubled from 2020 to 2021.

Prices of crude oil have skyrocketed across the world, thanks to the Russian invasion of Ukraine and the subsequent sanctions placed on Moscow.

Countries like the UAE, Saudi Arabia, and Oman appear on track to take giant strides in diversifying their portfolios when it comes to power generation.

A total of 33 agreements besides several investments worth more than $4.2 billion were signed on the first day of the Global Entrepreneurship Congress in Riyadh. These are aimed at supporting entrepreneurship in various fields and enhancing the Kingdom’s status as an attractive environment for pioneers, innovators and creators in...

The world must not forget the millions of people in need across the Middle East and North Africa, UN chief Antonio Guterres told the Security Council.

The World Bank has also offered to continue the implementation of ongoing cooperation projects in the country.

The Abu Dhabi National Exhibitions Company (ADNEC) has announced plans to expand its facilities and infrastructure in Abu Dhabi and London. The company said the expansion plans boost its competitiveness and ability to attract and hold major international events for all sectors. The development operations at Abu Dhabi National Exhibition...

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.

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

Without water resilience, the MENA region may see a loss of 6-14 percent of the collective GDP by 2050, says the latest World Bank report.

Audi Middle East has posted a 37% increase in sales in the first half of 2021.

Amazon's Climate Pledge aims to achieve net-zero across its businesses by 2040 The projects are expected to come up Saudi Arabia, UAE, and Egypt The Middle East and North Africa region will see a number of sustainable projects being launched by global eCommerce giant Amazon as part of its Climate...

Revenues from cinema in the Mena region is expected to defy global trends and hit $1 billion by 2024  Box office revenues in the Mena region are expected to grow by 4% in the aforementioned period, compared to a 2.4% decline worldwide Revenues from cinema in the Middle East and...