In the past decade, Abu Dhabi’s construction sector has grown by 22.6 per cent, finance and insurance by 39 per cent, and manufacturing sector by 102 per cent
The foreign investment development programme is designed to attract Dhs650bn of investments to the emirate over the next ten years
In April, food and beverage inflation declined to 2.3 per cent, down from an average of 3.3 per cent seen in the first quarter
The overall GCC budget position is projected to remain somewhat in surplus this year, driven by robust financial standings and favourable credit ratings
A faster growing oil and gas sector in 2025 will boost growth in the UAE, says a report
The top countries contributing to Bahrain’s FDI stocks as part of a diverse portfolio include Kuwait, Saudi Arabia and the UAE
The IMF said its Executive Board would consider the staff agreement and disbursement in the coming weeks
The figures were part of the consolidated financial statement published by the UAE’s Ministry of Finance
The monetary policy committee left the lending rate unchanged at 28.25 per cent and the deposit rate at 27.25 per cent
Financial and insurance activities, transportation and storage, real estate and construction sectors were among the top growth sectors
The fund had projected in April that the country’s economy would grow by 3.5 per cent this year
Dirham-rupiah trade is expected to reduce transactional costs for businesses while strengthening financial cooperation
Oil revenues reached SAR181.9bn, while total revenues were SAR293.4bn as non-oil revenues edged higher, although oil still dominates
Fitch said Egypt’s initial steps to contain off-budget spending should help to reduce public debt sustainability risks
The Gulf state posted a budget surplus of QAR1.4bn in the final quarter of 2023, which was used to reduce public debt
Saudi Arabia is accelerating efforts to diversify its economy away from oil under a plan known as Vision 2030
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 report showed that e-commerce spending continued growing in 2023, with a 15 per cent growth rate since 2022
The new trade licences are expected to increase government revenue, ensure business continuity, and promote economic growth
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
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
The fund has held a 4 per cent stake in Aramco since 2022 and indirectly holds another 4 per cent that was transferred last year to Sanabil
The latest figures from Emaar Malls shows that a record 20 million people visited the mall in the first two months of this year alone
The country has initiated a raft of bilateral trade, investment and cooperation deals with several fast-growing economies
The government had estimated a deficit of SAR82bn in its December budget statement and is forecasting a deficit of SAR79bn in 2024
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
The projected deficit for the next fiscal year is 13.5 per cent lower than that forecast in the current year