Jeddah, UAE--The Arab Tourism Organization (ATO) has signed a partnership agreement with the International Strategic Management (ISM) company to achieve growth and innovation within the tourism sector in Arab countries. The agreement comes as an extension of the ATO’s efforts to develop and enhance the tourism industry in the Arab...

From Saudi Arabia to the UAE and Qatar to Kuwait, governments across the region compete to jumpstart industrial sector but doubts remain whether it can be pulled off.

Hong Kong-- The global Islamic finance market would touch US$4.9 trillion by 2025, according to Yazrin Syakhairi, Malaysian Trade Commissioner at the Consulate General of Malaysia in Hong Kong. Speaking on the sidelines of the Asian Financial Forum (AFF) in Hong Kong, Syakhairi told the Emirates News Agency (WAM) that...

Beijing, China--China's economy is likely to pick up the pace and grow steadily in 2024 after a bumpy recovery last year, propelled by the gradual increase in domestic demand and with more stimulus policies in the offing, China Daily reported, citing officials and economists on Wednesday. Economists said the country...

The tech giant's market value has surged by over $1 trillion.

Dubai, UAE--Arabian Travel Market (ATM) has entered into a partnership with the International Congress and Convention Association (ICCA) and the Global Business Travel Association (GBTA) for the upcoming edition of the event, which takes place from 6th to 9th May 2024 at the Dubai World Trade Centre. The global organisations...

Dubai, UAE-- Protecting nature could avert global economic losses by 2030 of US$2.7 trillion per year, or 2.3 percent annually, according to Valerie Hickey, Global Director for Environment, Natural Resources and Blue Economy at the World Bank. Speaking to media at COP28, she said that low-income countries could lose around...

The Asian Development Bank survey found that rising interest rates, flagging economic prospects, inflation, and geopolitical volatility reduced the capacity of banks to deliver trade financing. But at the same time, rebounding strongly after the COVID-19 pandemic, global goods exports grew in 2021 and 2022 at 26.6% and 11.5%, respectively.

Riyadh, Saudi Arabia-- Banks in Saudi Arabia have reported a 9.6 percent increase in aggregate profit to $1.71 billion in July, according to official data. The Saudi Central Bank, also known as SAMA, said that the aggregate assets of these banks also rose 8.84 percent year on year in July...

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,...

Paris, France--Investment in clean energy across the world is expected to rise to US$1.7 trillion in 2023, with solar set to eclipse oil production for the first time, according to a report by the International Energy Agency. The report noted that Investment in clean energy technologies is significantly outpacing spending...

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...

After their latest get-together on Monday, the Republican Speaker said: "I felt we had a productive discussion. We don't have an agreement yet, but I did feel the discussion was productive in areas (where) we have differences of opinion." He added that negotiators would "work through the night" to move...

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...

Riyadh, Saudi Arabia-- The market capitalization of Tadawul, the Saudi stock exchange, has shot up 477 percent to $2.6 trillion during the last five years. According to Yazid Al-Dumaiji, the Capital Market Authority’s (CMA) Undersecretary for Strategic and International Affairs, the exchange takes the ninth place among the world’s stock...

Washington, United States--President Joe Biden will unveil a proposed budget on Thursday that would reduce the US national deficit by $3 trillion over the next decade, in part by raising taxes, the White House said. The budget plan "will cut the deficit by nearly $3 trillion over the next 10 years,"...

Hong Kong-- Hong Kong is looking to persuade oil giant Aramco and its units to consider a secondary listing in the Asian financial hub. Hong Kong Chief Executive John Lee is embarking on his first official visit to the Middle East, according to the South China Morning Post. Lee is...

Beijing, China--China's foreign exchange reserves rose to US$3.1277 trillion at the end of December 2022, up 0.33 percent from a month earlier, data from the State Administration of Foreign Exchange showed Saturday. The foreign exchange regulator attributed the increase in foreign exchange reserves to the combined impact of currency translation...

Abu Dhabi, UAE--The market cap of Arab stock exchanges has vaulted to $4 trillion by the end of 2022, according to the Arab Monetary Fund (AMF). The AMF said in a statement that the market value of the Abu Dhabi Securities Exchange reached $714.6 billion in the reference year, while...

Through Dubai Metaverse Strategy, the emirate looks to create 40,000 virtual jobs and add $4 billion to the economy over the next five years.

The bill requires Boeing to make some enhancements to the jets, but allows the Federal Aviation Administration to approve both the 737 MAX 7 and 737 MAX 10 without mandating an overhaul of the crew alerting systems. The bill requires the enhancements to be installed on other MAX models within...

According to an analysis based on data released by Beijing's Ministry of Finance on Tuesday, the budget shortfall for all levels of government from January to September was $980 billion, almost three times the 2.6 trillion shortfall over the same period last year.

Its value is $2.8trn in the first nine months of the year.

The non-oil trade of the UAE has totalled AED16.14 trillion in the last ten years as the country's growth returned to pre-pandemic levels.

Aramco is inching closer to dislodging Apple as the world's most valuable company when the former's shares rose up, taking the market value of the Saudi company to $2.24 trillion. The market capitalization of Apple stands at $2.6 trillion.

The Dubai Securities and Exchange Higher Committee has decided to list Salik on Dubai Financial Market (DFM) in order to broaden the size of the stock market in the emirate to AED3 trillion in the future.

Tadawul, the owner of Saudi Arabia's stock exchange, will proceed with its initial public offering (IPO) and list the shares on the bourse.

Public Investment Fund of Saudi Arabia is looking to diversify investments into Chinese companies after having confined its overseas holdings to the US and Europe.

The MENA region will need some 3,000 new aircraft worth $700 billion in the next 20 years to cater to the demand for air travel. The conclusion was drawn by Boeing in its Commercial Outlook for 2021.

Saudi Arabia seeks to boost its economic output to reach $1.71 trillion, Saudi Investment Minister Khalid Al-Falih said on Wednesday.

Saudi Arabia has been flooded with license applications from investors at home and abroad to invest in its mining sector. The applications have been received on the portal of the kingdom’s Industry and Mineral Resources Ministry.

Saudi Arabia is confident that its new mining law will lure private investment from the kingdom as well as abroad as it seeks to exploit an estimated $1.3 trillion of potential value in the sector.

Saudi Arabia has begun to obtain ‘high-resolution’ geological data spread over 600,000 square kilometers in the kingdom, enabling it to find mineral deposits in the region.

World’s biggest oil exporter looks for foreign investments into a sector that has $1.3 trillion in untapped potential reserve value Saudi Arabia’s mining industry has already attracted some major foreign investors Saudi Arabia intends to auction two major mining licenses in 2022 for gold, copper, and zinc as the world’s...

The kingdom is almost twice the size of the region’s second-largest economy, Egypt The UAE is the third largest Arab economy with GDP of $354.3 billion The Saudi economy alone was 29.3 percent of the $2.39 trillion Arab economy in 2020. The Kingdom’s $700.1 billion in nominal GDP was almost...