Jordan’s King Abdullah II on Sunday received World Bank Group President David Malpass at the Basman Palace.

Barkindo underscored the importance of the efforts by the Declaration of Cooperation (DoC) Participating Countries in accelerating the rebalancing process in the global oil market.

The results are said to be showing signs of economic recovery of Bahrain.

While the mood is generally upbeat, analysts remain cautious owing to the constant threat of the pandemic.

The figures indicate that the property market, particularly the residential market, is recovering after hitting a low at the start of the pandemic last year.

Driven by an increase in net loans and return on equity in the second quarter, Saudi Arabian banks are sitting pretty as the region’s economy continued its rebound from the Covid pandemic.

The Gulf hotel sector's investments, according to reports, have reached $27 billion. New hotel projects worth $3.5 billion in the region were approved in 2020, indicating that investors expect the hotel market to return to normal in the next two or three years when activities resume at normal level.

Both institutions will work toward supporting economic and social development in member countries.

Saudi Arabia has seen a sudden growth in the size of freelance workforce with the number doubling in the first half of this year as the economy shows more signs of recovery from the pandemic.

The global forum organized by the Islamic Development Bank on Aug. 28 is being held as a side event to the bank’s annual meeting.

The loan is expected to be used to provide for stimulus packages to for workers and create new jobs.

The cargo and logistics arm of Abu Dhabi’s Etihad Aviation Group said it is looking to facilitate a global trade recovery and restore distribution confidence in international markets.

Following a 2018 reform in the Kingdom that allowed for a first time the 100 percent foreign ownership of companies, 59 percent of new investment projects in Q1 2021 were full foreign ownership, with the remainder being joint ventures with local investors.

Higher fuel volumes, improvement in non-fuel and commercial gross profit margin and increased operational efficiencies made in the first half of 2021 helped in delivering good results.

The owner of Dubai Mall attributes 80 percent jump in net to recovery in retail sector.

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