The government had estimated a deficit of SAR82bn in its December budget statement and is forecasting a deficit of SAR79bn in 2024
The two countries also signed a bilateral investment treaty and exchanged cooperation agreements covering electrical interconnection, trade, and digital infrastructure
The platform currently links 108 out of 120 Arab banks signed up, with a target of 160 by the end of 2024
The agreements seek to eliminate double taxation, additional taxes, indirect taxes, and tax evasion while addressing cross-border trade challenges
The evaluation of the UAE’s Free Zone Corporate Tax regime was part of the OECD’s comprehensive review of taxation regimes worldwide
IMF revised its GDP growth forecast for the Middle East and North Africa region downwards to 2.9 per cent this year
The Egyptian pound, fixed at EGP30.85 to the dollar since March, traded on the black market earlier this month as low as EGP71 to the dollar
Dubai lives up to its reputation as the ‘City of Gold’, hosting 72,500 millionaires, 212 of whom are centi-millionaires and 15 billionaires
The preliminary data shows that Saudi Arabia’s economy contracted at a slower pace in Q4 2023 after a decline of 4.4 per cent in the previous quarter
From infrastructure to agriculture, from healthcare to income tax, expectations are high for the Indian government to provide relief despite inflationary pressures in its budget announcements
Inflation has now been running below the Fed’s target on a seven-month basis while US economic growth and the job market have remained largely intact
The projected deficit for the next fiscal year is 13.5 per cent lower than that forecast in the current year
The initiative is open to all SMEs founded in Dubai and is designed to empower businesses to expand internationally
As India celebrates its 75th Republic Day, here’s a look at the encouraging bilateral trade figures catapulted by the UAE-India CEPA deal
The UNCTAD report’s sectoral analysis for 2023 showed an uptick in project numbers in sectors that rely heavily on global value chains, including automotive, textiles, machinery and electronics
Accommodation and food services activities witnessed a strong 11.1 per cent growth in the first nine months of the year
The new law will accelerate the implementation of projects that offer added value for public funds, minimise financial and operational risks to the government
The rating agency is projecting continued strong momentum in Dubai’s hospitality, and financial services sectors to drive growth in 2024/25
GCC welfare systems can be enhanced by strengthening coherence among social protection programmes, expanding the social insurance offering, and focusing on the economic activation of social assistance beneficiaries
The UAE President is attending the Vibrant Gujarat Global Summit, taking place in the city of Gandhinagar, from January 10 until January 12
Growth in Saudi Arabia is projected to grow by 4.1 per cent this year, rising to 4.2 per cent next year
The upcoming events will take place across two venues – DWTC and Dubai Exhibition Centre (DEC) at Expo City Dubai
Chief Investment Officer of Saxo Bank, Steen Jakobsen, recently sat down with Gulf Business in an exclusive interview on the economic picture for 2024
Both the Riyad Bank Saudi Arabia PMI and the S&P Global UAE PMI remained way above the 50-mark that separates growth from contraction
The total number of deported workers from Bahrain numbers almost 400 since the end of November 2023
The financial and insurance sector grew by 14.4 per cent YoY and the value-added by the industry surged to Dhs18.7bn
The trade deal builds on growing bilateral cooperation between the two countries, which saw non-oil trade hit a record $2.1bn in H1 2023
UK Finance Minister Jeremy Hunt said the outlook for the economy was not as bad as the updated official figures suggested
The kingdom has been studying setting up the trading platform in the second half of 2023 but a decision is not expected any time soon
The apex lender projected that the country’s overall GDP will grow by 3.1 per cent in 2023