#Economy
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
Accommodation and food services activities witnessed a strong 11.1 per cent growth in the first nine months of the year
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
Top companies in the UAE continue to invest in creating a highly-engaged workforce with an average engagement score of 81 per cent, says a survey
In its latest bulletin, Saudi Arabia’s Ministry of Commerce announced a 23 per cent rise in company registrations for the final quarter of 2023
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 Sultanate of Oman is expecting a budget deficit for the year, after it swinging away from a surplus during 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
The UAE and Mauritius, in first-of-their-kind negotiations, are set to boost each other’s economies in years to come with key trade deals in the pipeline
The Kingdom of Bahrain showcased healthy GDP growth for the third quarter of 2023, according to the latest statistics revealed by that country.
UK Finance Minister Jeremy Hunt said the outlook for the economy was not as bad as the updated official figures suggested