Turkey's official inflation rate spiraled to nearly 70 percent in April, data showed on Thursday, posing a huge challenge to President Recep Tayyip Erdogan, whose unconventional economic policies are often blamed for the economic turmoil.

The exports were driven mainly by chemical products which jumped 80 percent year-on-year with a share contribution to total non-oil merchandise exports of 35.7 percent.

Annual Inflation in Lebanon has spiked to 208 percent in March despite the intervention of the country's Central Bank. According to the government data, transportation costs rose 489 percent compared to March 2021, with health expenses up 441 percent. Food and beverages climbed 390 percent, while restaurant and hotel costs...

Digital payments made through a mobile device accounted for 35 percent of all near-field communication transactions in Saudi Arabia in 2021, according to Saudi Payments. The share of payment transactions made using a mobile device in all NFC payments grew from 22 percent in 2020. The number of payment transactions using...

The Saudi dairy company recorded 9% jump in net profit.

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

Suez Canal posted twenty percent increase in revenue in the first quarter of 2022 despite the Russian-Ukraine war disturbing the global supply chain.

The economy of Saudi Arabia is forecast to grow 7.7 percent this year propelled by the expansion of the kingdom's oil sector, according to Jadwa Investment.

Lebanon's electricity company is charging $16 million to supply power on the day of the May 15 parliamentary polls, a sum that exceeds the overall election budget by nearly 30 percent, the interior minister said.

Shares of Saudi mining firm Amak surged 30 percent on its debut on the kingdom's main stock exchange.

The Central Bank of Kuwait has issued bonds and tawarruq for six months with an accumulated value of $792 million.

SALIC of Saudi Arabia, a subsidiary of the PIF, has said it will acquire 35.43 percent of Olam Agri Holdings for $1.24 billion.

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.

Saudi inflation shot up to 1.6 percent in February, fueled by higher gasoline and food prices, the General Authority for Statistics, also known as GASTAT, said in a press statement.

Saudi Ports Authority has posted a 17.5 percent increase in its general cargo's volume of tons in 2022, compared to the same period in 2021.

The decision to raise the percentage of foreign investment in public companies is one of the most important steps to include the market in global emerging market indices,

Saudi startups have secured 58 percent of the total $375 million in funding in the MENA region in February.

Driven by high oil output, Saudi Arabia’s Industrial Production Index shot up 11.1 percent in January, official data indicated.

DP World of the UAE has posted a twenty six percent increase in revenue to $10.8 billion in 2021, despite problems in supply chain network.

Tadawul Group has posted a seventeen percent jump in net profit to $157 million in 2021, according to a bourse filing. Tadawul owns Saudi Arabia's main stock exchange.

The Suez Canal has seen a fifteen percent jump in business as ships carrying wheat and gas have filled the waterway in recent months.

Emirates Global Aluminium, or EGA, has posted a 1,140 percent jump in net profit to $1.5 billion for 2021.

The Saudi real estate sector will contribute close to nine percent to the national gross domestic product by 2030, according to the kingdom Minister of Housing.

Demand for natural gas has shot up 23 percent during the last ten years, according to Secretary-General of the Gas Exporting Countries Forum (GECF) Eng. Mohamed Hamel.

Jordan has recorded a seventeen percent increase in the export of agricultural products to JD734 million in 2021, compared with JD639 million in the same period in 2020.

Arriyadh Development Co. posts a forty percent jump in net profit to $85 million for 2021.

The Emirate of Ras Al Khaima has given out 1,749 business licenses in 2021, a thirty-six percent jump over the previous year.

Saudi Arabia has recruited more than 75,000 overseas domestic workers in December 2021, a fifteen percent jump in the hiring, according to official figures released by the kingdom.

Air pollution costs the Middle East and North Africa $141 billion per year, or around 2% of GDP on average, the World Bank said Monday, urging a green post-Covid-19 recovery for the region.

During the course of last year, Dubai saw 1,343 eateries opening up across the city, and as a result the number of inspections carried out by Dubai Municipality's Food Safety Department also increased by 12 percent.

Saudi Arabia has witnessed a big jump in 'contactless' payment during the last three years, from hovering in single digits to shooting up to 95 percent during the last three years.

The UAE’s Ministry of Finance will start levying a 9 percent tax on business profits from June 1, 2023 thereby putting an end to tax-free culture that enabled the country to lure businesses from around the world. The UAE has been looking to reduce its dependence on revenue earned from...

Saudi Arabia's drive to increase literacy rate in the kingdom seems to be bearing fruit. According to the ministry of education the illiteracy rate has dropped from 5.6 percent in 2019 to 3.7 percent in 2021.

Dana Gas has announced that its collections from the KRI and Egypt rose 107% year-on-year in 2021 to $377 million from $182 million in 2020, enhanced by a strong rebound in oil prices.

The UAE is one of the most attractive Gulf Cooperation Council (GCC) countries for GCC citizens to work in, according to the 2021 statistics released by the General Pension and Social Security Authority (GPSSA). A total of 6,903 employees from GCC countries work in the UAE, out of the total...

Exports of Amman Chamber of Industry (ACI) have soared 16% during the past 11 months of 2021, compared to the same period in 2019, driven by the rising exports of most industrial sectors.

Turkey's annual inflation rate jumped over 20 percent in November, official data showed Friday, after a currency crisis last month when the Turkish lira hit record lows against the dollar.

Egypt has decided to levy a ten percent customs tax on the import of mobile phones in order to promote local industry.

Emirates Stallions Group (ESG) has bought a 70 percent stake in WFC Holding as part of its plan to diversify into new areas, the company said on Wednesday.

Saudi Arabia recorded a 28.4 percent rise in non-oil exports in the third quarter of 2021 to $18.48 billion thanks to higher shipments of plastic and chemicals.

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.

Nayifat Finance Company (NFC) will start trading on Tadawul on November 22, according to a Saudi Exchange filing.

The UN Conference on Trade and Development (UNCTAD) has warned that the rising shipping prices could spike global inflation by 1.5 percent in 2023, and that the smaller, trade-dependent countries could be hit badly.

Chinese e-commerce leader Alibaba Group said on Thursday that its profit for the most recent quarter tumbled 81 percent as it grappled with a government crackdown on the country's big tech champions.

The number of people out of work in Egypt grew 7.5 percent to 2.2 million in the third quarter of 2021, compared to 2.1 million in the second quarter of 2021.

Abdulmohsen Alhokair, the Saudi entertainment group, has reported an increase in net losses by 17.8 percent during the first 9 months of 2021.

Saudi Basic Industries Corp. (SABIC) has posted a nearly 400 percent spike in net profit to $1.5 billion for the third quarter as revenues grew on the back of higher prices.

The tourism and travel sector in the Middle East is expected to grow 27.1 percent in 2021, a little behind the global average of 30.7 percent.

Advanced Petrochemical Company of Saudi has posted nearly 40 percent increase in net profit to $58 million for the third quarter, because of a big jump in polypropylene sales.

Network International, the UAE-based payment solutions firm, has posted a 19 percent jump in revenue in the third quarter, increasing values of payments processed in both the UAE and Jordan.