Muscat, Oman--Oman annual inflation rate reached 0.69 percent by the end of June 2023, according to the monthly consumer price survey data issued by the Oman's National Center for Statistics and Information. The inflation rate was driven by the increase in most of the main groups that make up the...

Abu Dhabi, UAE-- In 2022, Emiratis represented 74% of the Federal Authority for Nuclear Regulation (FANR) 248 employees. FANR continues to attract talented Emiratis to meet its business needs, recruiting an additional 22 Emiratis during the review period, according to FANR 2022 Annual Report. It provides long-term career opportunities for...

Dubai, UAE--Trade in goods and services amounted to US$ 31 trillion in 2022, a 13% rise year-on-year. According to the World Trade Statistical Review 2023, issued by the World Trade Organization, while trade in goods exceeded pre-pandemic levels already in 2021, trade in services caught up in 2022. China remained...

The net profit rose to US$39.21m in H1 of 2023.

Amman, Jordan--Jordan’s economy has seen a 47.6 percent increase in investments in the first half of 2023, according to data released by the government. The kingdom's aggregate investments amounted to $844.8 million in the first six months of the year, up from $571 million over the same period in 2022....

Muscat, Oman-- Oman's inflation rate increased by 2.8 percent in 2022 as the consumers price index (CPI) registered 109.7 points compared to 106.7 points in 2021. According to the data issued by the National Centre for Statistics and Information (NCSI), there was a rise in the prices of main groups...

The net profit surged to US$493 million in the first half of 2023.

The new set of conditions brought in by the finance ministry look to shore up the integrity of the corporate tax system in order to boost the UAE's appeal as an investment haven.

Amman, Jordan-- Exports to Greater Arab Free Trade Area (GAFTA) countries from Jordan increased 16.6%, amounting to $1.60 billion, compared to about $1.38 billion for the same period last year. Foreign trade data issued by the Department of Statistics (DoS) indicated a drop in the value of the kingdom's imports...

Dubai, UAE-- Around 9.1 million people visited the UAE’s Government Unified Digital Platform, U.AE, from the start of 2023 until the end of June. According to the Telecommunications and Digital Government Regulatory Authority (TDRA), the jump in the average number of pages viewed was 3.52%, compared to the same period...

The decision by the central banks, in the US and most of the Middle East, to hike interest rates are designed to fight off inflationary pressures and maintain economic stability.

Manama, Bahrain--Bahrain has recorded a two percent rise in gross domestic product in the first quarter of 2023, driven by a 3.5 percent jump in the non-oil sector. The average quarterly increase, according to the Bahraini Ministry of Finance and National Economy, of the annual non-oil GDP has touched about...

Riyadh, Saudi Arabia--ROSHN, the Saudi real estate developer, has signed a memorandum of understanding (MoU) with the Expenditure and Project Efficiency Authority, known as Expro, to develop real estate in the kingdom.  The MoU looks to improve the efficiency and sustainability of the Public Investment Fund-backed giga-project, as well as boost...

A TRENDS exclusive report takes a hard look at how tens of thousands of white-collar workers in Middle East are falling victim to burnout brought about by workplace stress.

A TRENDS exclusive report takes a hard look at how tens of thousands of white-collar workers in Middle East are falling victim to burnout brought about by workplace stress.

Dubai, UAE-- Dubai's Roads and Transport Authority (RTA) has reported a 10 percent increase in revenues for 2022 to $953 million from its digital channels. The company has also recorded 814 million digital transactions up from 676 million in 2021, a 20 percent growth rate. The company also reported a...

Paris, France--Global trade in agricultural commodities is projected to expand by 1.3 percent annually - half the pace recorded in the past decade - due mostly to slower growth in demand by middle-income countries, according to a report released by the Food and Agriculture Organization of the United Nations (FAO)...

Its net profit dropped 21% to US$1.21bn in 2022-2023.

According to the TUIK state statics agency, the rate slowed from 39.6% in May. But a separate study released by independent economists from the ENAG group who question the official data put the June figure at 108.6 percent, up from 105.2% in May. The official rate has been steadily dropping...

Dubai, UAE--The UAE's financial advisory market is expected to reach a market volume of nearly $239 billion by the end of this year. According to Bas Kooijman, CEO and Asset Manager of DHF Capital S.A., the UAE's ultra-high-net-worth individuals (UHNWI) demographic is projected to grow at a compound annual growth...

While the global economy reels from high inflation and the war in Ukraine, the UAE looks poised for positive economic growth with the IMF and the World Bank projecting the country's economy to grow by 3.6 percent and 2.8 percent respectively. The economy will continue to benefit from tourism and...

Amman, Jordan-- Trade between Jordan and non-Arab Asian countries has shot up in the first quarter of 2023, with the value of the kingdom's exports to the countries surging to about $1.16 billion, compared to about $1.07 billion for the same period last year, according to foreign trade data issued...

Doha, Qatar--The increasing availability of government sukuk and Islamic liquidity management tools by the Qatar Central Bank supports liquidity management and investment options for Islamic banks, according to a report from Fitch Ratings. In a report issued today, it indicated that its review of its future expectations for three Qatari...

The energy company will pay US$462 million for the buyout.

The boost in foreign trade comes on the back of the signing of the comprehensive economic partnership agreements that the UAE has inked so far. As the agreements take effect, a new phase of trade exchange commences that promises a substantial boost in quality and quantity, expanding the global trade...

According to a report by the FAO, the world food import bill is forecast to touch a new record this year, although it is estimated to grow at a much slower pace compared to last year. This at a time when surging world prices fueled by higher quotations for fruits,...

London, UK--Volume of trade exchanges between the UK and Iraq has exceeded one billion dollars and imports and exports between the two nations have been significantly growing, a senior British official said on Friday. Lord Tariq Ahmad, the British Minister of State for the Middle East, North Africa and South...

Riyadh, Saudi Arabia-- Saudi Arabia has recorded an 8.7 percent increase in gross domestic product (GDP) in 2022, as against a 3.9 percent jump in 2021, on the back of high oil prices. The kingdom's economy successfully emerged from the Covid-19 crisis and the policies undertaken by the government accelerated...

Dubai, UAE-- The UAE'S Ministry of Human Resources and Emiratisation (MoHRE) has extended the deadline for private sector to hire local employees from June 30 to July 7. MoHRE said this decision was taken by taking into consideration the Eid Al Adha holiday, which falls on the fourth week of...

It won US$975mn artificial island construction contract.

Abu Dhabi, UAE-- Abu Dhabi has succeeded in curbing the use of plastic bags by around 95 percent since the banning of the single-use bags in June 2022. The Environment Agency – Abu Dhabi (EAD) claims it has prevented over 172 million bags from entering the environment. In 2020, EAD...

With a 22% stake, it is now the biggest stakeholder in the firm.

Sharjah, UAE--With an aim to bolster the country's capital markets, the Sharjah-based company Dana Gas has revealed that it will raise its foreign ownership limit to 100 percent. The company said that it had obtained the approval of the regulatory authorities to raise the percentage of foreign ownership from 49...

Doha, Qatar--Qatar has posted a trade surplus of $6 billion in April 2023, according to a report by the country’s Planning and Statistics Authority.   The figures, according to the Planning and Statistics Authority, reflect a 3.5 percent increase over March while a 35.6 percent decline on an annual basis....

Speaking at an event in New Delhi, Abdullah bin Touq Al Marri, the UAE’s Minister of Economy, said that the partnership between the UAE and India creates trade and investment opportunities for over 3.8 billion people and the solid economic alliance contributes to the vitality of trade and investment flows...

Sharjah, UAE-- The emirate of Sharjah has seen a 22 percent growth in population to 1.8 million inhabitants, as against 1.4 million in 2015, according to the results of Sharjah Census 2022. The findings of the census were unveiled by Sheikh Sultan bin Ahmed bin Sultan Al Qasimi, deputy ruler...

The 10-year sukuk was priced with a 4.875% coupon rate.

Dubai, UAE-- The UAE has witnessed a 20 percent drop in nitrogen oxide emissions from power generation activities, according to a study undertaken by the Ministry of Climate Change and Environment (MOCCAE), in collaboration with entities involved in power generation. The study focused on measuring the intensity of nitrogen oxide...

Abu Dhabi, UAE--Gross banks’ assets, including bankers’ acceptances, rose by 2.2 percent, from $999 billion at the end of January 2023 to $1,020.55 billion at the end of February 2023, according to the Central Bank of the UAE's Monetary & Banking Developments for February 2023. Gross credit increased by 1.2...

Amman, Jordan-- Jordan's industrial producer-price index, which generally reflects supply conditions across the economy, climbed up 2.59 percent in the first quarter of 2023, amounting to 137.20 points compared with 133.73 points in the same period of 2022, the Department of Statistics (DoS) revealed on Sunday. The DoS said that...

The government sold a 9.5% stake for US$121.6mn.

Cairo, Egypt--Egypt's annual urban consumer inflation in April dipped to 30.6% from 32.7% in March, data from the state statistics agency CAPMAS showed on Wednesday Month-on-month, urban inflation slowed to 1.7% from 2.7% in March and 6.5% in February. Inflation had steadily crept up over the last year after a...

Its net profit fell 7 percent to US$50 million in Q1 of 2023.

Doha, Qatar— More than ten million passengers traveled through Qatar’s Hamad International Airport in the first quarter of the current year, marking a 44.5 percent jump. The airport, according to Qatar News Agency, received 3.56 million passengers in the month of January, followed by 3.24 million in February, and 3.5...

Kuwait City, Kuwait--The Central Bank of Kuwait (CBK) has announced the latest allocation of issuance of bonds and tawarruq valued at $1.05 billion. In a statement, the CBK said that the value of the first issuance amounted to KD 160 million (about USD 528 million) for three months with a...

Doha, Qatar-- Qatar expects a big boost in hotel occupancy rates by at least 80 percent during the Eid holidays in the country. The boost is expected in the wake of the launch of the Haya platform in its new look, which allows 4 types of visas for visitors, and...

Doha, Qatar-- Inflation in Qatar rose by 4.01 percent year-on-year in March, because of a rise of prices across eight categories, according to data released by the Planning and Statistics Authority.   The Consumer Price Index of March 2023, which is a broad measure of inflation, reached 105.55 points, up by...

Berlin, Germany--Inflation in Germany eased to 7.4 percent in March, mainly thanks to government measures to bring down energy prices, final figures showed on Thursday. The data from federal statistics agency Destatis confirm a downward trend since annual inflation peaked at 10.4 percent in Europe's biggest economy in October -- revised...

Struggling to recover from its pandemic-driven slump, China, the world's second largest economy, has reported that its consumer price inflation fell below one percent in March, a sign of weak demand. The country is targeting an average inflation rate of three percent for 2023, which is still far below the...

Dubai, UAE--Emirates NBD has successfully priced a US$1 billion Senior Unsecured Sustainable Sukuk for Al Rajhi Bank, the world’s largest Islamic bank by assets and market capitalization. The five-year Sukuk which was priced at a reoffer yield of 4.774 percent generated strong demand, attracting orders of over US$3.75 billion. The...