Egypt has been seeking large-scale investments as it tries to overcome a long-running economic crisis that led to record inflation
The GCC’s non-energy sectors, including tourism, trade, and finance, are pivotal in driving this growth, with expectations of a 4.2 per cent expansion in 2024 and 4.4 per cent in 2025
According to PwC, the non-oil growth outturn for 2024 is encouraging at 4 per cent in UAE, 3.7 per cent in Saudi, 3.8 per cent in Oman and 4.7 per cent in Kuwait
The two countries agreed last year to cooperate on technology and climate change, including investments in the chip and battery sectors
Although barriers to entry are lower, the challenges of scaling a business have increased significantly
The campaign showcases the UAE’s strengths, such as its tax-free business environment, and strong government backing for entrepreneurship
The trade pact will remove tariffs on about 99 per cent of Australian products, resulting in savings of $91m (AUD135m) in the first year
A free trade deal with the GCC region is expected to boost the UK economy by $2.10bn (GBP1.6bn) over the long run
Since its inception, the SFD has supported over 800 projects across 100 countries, with a total funding of $20bn
The city benefits from a thriving, diversified economy, fueled by strategic vision, structural reforms and prudent economic policies
The ongoing conflict in Gaza has increased Washington’s dependence on Egypt for diplomatic mediation
Despite regional flux, up to 42 per cent of UAE-based regional CEOs expect double-digit growth in 2024 indicating a thriving business environment, as per an EMIR survey
Almost 15,000 companies closed down in the first seven months of the year, up 28 per cent from 2023
The financial and insurance sector, trade activities and manufacturing were among the biggest contributors to non-oil GDP
The kingdom’s seasonally adjusted real GDP grew by 1.4 per cent compared to Q1 2024, as non-oil activities rose by 4.9 per cent YoY
The discussion focused on enhancing bilateral cooperation across economic, developmental and political spheres
The central bank said that the lending rate remained at 28.25 per cent, while the deposit rate stood at 27.25 per cent
The country’s domestic gas output plummeted to a six-year low in May, down around 25 per cent from its 2021 peak
The government urged eligible businesses to register with the National Bureau for Revenue before the deadline
The North African country has been using its net foreign assets to help prop up its currency since at least September 2021
Economists say central bank lending risks undermining the economy by expanding the money supply and fuelling inflation
Turkish farmers have long complained of sharp hikes in the prices of fertilisers and fuel due to the sharp depreciation in the lira
Over 60 million people have access to discounted prices on staples such as pasta, vegetable oil and sugar through state-run outlets
Pakistan has relied on long-time allies such as China, Saudi Arabia, and the UAE to ‘roll over’ debt rather than force a repayment crunch
On UAE Women’s Day, a look at how Laila Yousef Al Hassan and the ECA’s Parent-Friendly Label Programme are transforming workplace practices to support female participation and work-life balance
The latest review, approved in late July but released only on Monday, was Egypt’s third and followed the expansion of the package size in March
The UAE’s non-oil exports to its top 10 trade partners rose by 28.7 per cent, while trade with all other nations increased by 12.6 per cent
Fed chief says timing, pace of rate cuts depends on data
The guest list of about 120 includes most of the US Fed’s 19 policymakers, a few dozen central bankers from Europe, Asia, Africa, the Americas, and a group of select journalists
Key growth sectors include real estate, construction, financial services, trade, manufacturing, logistics and tourism, the Standard Chartered report shared