#Economy
The statistics authority attributed the growth of the economy to innovative economic initiatives related to non-oil sectors and activities
The licence scheme will enhance the country’s competitiveness and boost growth while encouraging the digital transformation of the economy
The driver behind the changes in Saudi Arabia’s cost of living is an increase in the cost of groceries and personal care items
The two countries agreed on new plans in the field of entrepreneurship, including programs and facilities to foster startup growth
The deal accounts for more than half of the $10bn investment agreements that were signed on the first day of the Arab-China business conference
Ukraine presented its economic transformation strategy and invited UAE funds to participate in the development of its wealth fund
The fund projected that Saudi Arabia would swing to a deficit in 2023 on lower oil revenue
The first quarter saw the chamber achieve its goal of establishing more than 100 business groups from various sectors and economic activities
The country’s fiscal and debt positions strengthened in 2022 on the back of higher oil prices and budget consolidation measures
The central bank said the net foreign assets dropped to SAR1.54tn in April from SAR1.57tn the previous month
The two countries agreed to strengthen their cooperation and exchange knowledge, experiences and best practices in the field of tax policy
The UAE has so far concluded four CEPAs with India, Israel, Indonesia and Turkey and the first two have already come into force
The decision aims to clarify the application of the corporate tax regime for individuals and ensures that only business income is taxed
The economies of the Gulf Cooperation Council are projected to grow by 2.5 per cent in 2023 and 3.2 per cent in 2024
The Sydney office is the second to be inaugurated in 2023 and expands the chamber’s global network to 17 representation offices
The city’s non-oil sectors witnessed significant growth of Dhs43bn in 2022 and contributed 50 per cent to the overall GDP
Economic expansion was driven by a 5.8 per cent increase in non-oil activities
Saudi banks stand to remain on a profitable path in 2023 with corporate lending continuing to drive credit growth in the sector
Both the countries agreed to double the volume of trade and investment exchange over the next seven years
Jessica Wong, managing partner at eWTP Arabia Capital looks at how Saudi Arabia is uniquely placed to leapfrog innovation hurdles and build businesses with global impact
Ministry of Industry and Advanced Technology hosts around 30 German companies to discuss expanding cooperation in fields such advanced technologies and de-carbonisation
The UAE is one of Brazil’s largest trading partners and President Lula’s visit is expected to boost bilateral relations between the two countries
Spot gold was up 0.1 per cent at $2,042.01 per ounce, as of 5.34am GMT
The economic zones are expected to accelerate growth, increase export competitiveness, attract talent and improve the country’s global links
The latest IMF World Economic Outlook update found that recession concerns have gained prominence, while worries about stubbornly high inflation persist
The Ministry of Finance said government entities, government-controlled entities as well as extractive businesses are exempted from corporate tax
The authority applies the latest and most important global standards in innovation and creativity strategy
The programme’s goals will be supported by an international network of fellows known for their achievements in government, technology and future sectors
The tax relief seeks to support startups and other small businesses by reducing their corporate tax burden and compliance costs
The pre-event phase contributed around one-quarter of gross value and the legacy phase will add 62 per cent