The latest data from the statistics authority shows that non-oil foreign trade grew by more than Dhs281.9bn in 2023
Gulf economies are seen growing 2.4 per cent this year, a downward revision of 1.3 percentage points from October
The trade pact between the two countries is expected to enhance trade flows, increase private-sector collaboration, and provide new investment opportunities
The organisation facilitated the establishment of 2,937 new businesses and provided support services to 1,186 Emirati entrepreneurs
Inflation dipped to 33.3 per cent in March from a record 38.0 per cent in September
Addressing the Atlantic Council, Georgieva highlighted the pandemic’s lingering effects, including a staggering $3.3tn in global output losses since 2020, with vulnerable nations disproportionately impacted
The IMF forecasts that Egypt’s inflation will remain high in the near term, with average inflation for the coming fiscal year, expected at 25.5%
The Central Bank’s report underscores the UAE’s resilience and positive economic trajectory, fueled by strong performance across various sectors
The emirate’s GDP in 2023, reached Dhs1.14tn, marking its best performance in ten years
The kingdom hopes to attract $100bn in FDI by 2030 to boost non-oil gross domestic product
The rate of unemployment, for both Saudi nationals and expats, decreased in the last quarter of 2023 indicating job creation in the economy
The new trade licences are expected to increase government revenue, ensure business continuity, and promote economic growth
By focusing on critical areas, the ‘Future Fund Oman’ aims to revitalise the country’s economic pillars and propel sustainable growth
The new initiative, which is aligned with D33, seeks to raise the contribution of the circular and green economy to Dubai’s GDP
The bank has now raised its key one-week repo rate by 4,150 basis points from 8.5 per cent since last June
The trade pact is expected to lead to one of the world’s largest free trade areas, between Türkiye and the GCC, with a total value of $2.4tn
Egypt’s commitment to exchange rate liberalisation combined with budgetary consolidation targets are crucial for boosting international confidence
Sheikh Mohammed chaired the Cabinet meeting which approves key decisions on enhancing the UAE’s labour market competitiveness
The funding program will prioritise economic stability, investments and trade as well as migration and security
The data points to a positive trajectory for the kingdom’s economy, driven by diversification, and growth across multiple sectors
With Bahrain’s FDI stock relative to GDP surpassing the global average at over 81 per cent, international investors continue to trust its competitive value proposition
Marking a significant focus on bolstering the housing sector, over Dhs59bn has been earmarked for the development of housing and public facilities throughout Abu Dhabi
The latest data shows that the economy contracted by 4.3 per cent in Q4 2023 after a 16.2 per cent year-on-year decrease in oil activities
As many as 60 per cent of Egypt’s 106 million citizens are estimated to be below or close to the poverty line
The central bank raised the overnight lending rate to 28.25 per cent and its overnight deposit rate to 27.25 per cent
The almost 30-year-old global watchdog tries to strike deals by consensus, but such efforts are becoming more and more difficult
The UAE is hosting the WTO’s MC13, the organisation’s highest decision-making body, as well as representatives of the 166 member states from February 26-29
IMF spokesperson told a regular news briefing that IMF staff and Egyptian authorities agreed on the main elements of program changes
Non-oil GDP grew 4.6 per cent in 2023, while overall GDP contracted 0.9 per cent
The country has initiated a raft of bilateral trade, investment and cooperation deals with several fast-growing economies