This, along with a similar trend in the US, is seen as an indication of global economic growth becoming more broad-based
Economic activity
Latest in Economic activity
Economic activity
US economy grows at fastest pace in nearly two years at 4.9% in Q3
Consumer spending, which accounts for more than two-thirds of US economic activity, was the main driver
Economic activity
Saudi Arabia’s high energy prices, tourism fuel banking sector in 2022: Report
Saudi Arabia’s Vision 2030 initiative also contributed to the sector’s growth
asset class
Gold, silver: Best investments of 2023, says expert
Global crude oil market is projected to remain tight but balanced in 2023, with Brent price averaging $90 per barrel for the year
business activities
UAE’s real GDP to grow by 5.9 percent in 2022: World Bank
The bank, however, expected the country’s real GDP to moderate to 4.1 percent in 2023 as slower global demand may dampen growth due to tightening financial conditions
Economic activity
UAE to outpace Saudi Arabia as fastest growing economy in Gulf in 2023: IMF
The projections come as the global economy faces inflationary turbulence
Cryptocurrency
Will the Middle East be shielded from economic recession in the West?
There’s a huge amount of speculation floating around regarding the economic crisis – particularly in the US and Europe. While it might well roll across those parts of the world, are we likely to see it darken the shores of the Middle East?
China
China’s economy makes major gains in Q3, 2022 with 3.9% jump in GDP to reach $4.32tn
The latest economic growth figure was released just a day after President Xi Jinping secured a historic third term
business activities
Saudi economy grew 12.2 percent in second quarter, highest since 2011
Higher crude prices and a continuous post-pandemic recovery pushed the figures up
coronavirus restrictions
Above-average crude prices helped UAE sustain strong economic activities in first half of 2022, OPEC report says
The June PMI declined to 54.8 from 55.6 in the prior month, marking the 19th-straight month of growth in non-oil private economic activities, the report said
Abu Dhabi
Abu Dhabi grants several businesses a 1-year lease exemption
By the end of 2021, there were around 4,060 economic activities that are licensed and regulated by the Abu Dhabi Department of Economic Development (ADDED), which in recent months have launched initiatives to promote ease of doing business
Economic activity
Can the Middle East economic outlook remain positive amid mounting market pressure?
The GCC macroeconomic environment is receiving strong support from rising oil prices, which is being used to offset the impact of rising inflation and supply chain disruptions
Bahrain
Rise in tourism, oil output to lift Saudi economy by 7% in 2022, outpacing other GCC nations: report
The World Bank report attributes the economic rebound in the GCC to the region’s broadly successful vaccination rollout, the easing of pandemic restrictions, and developments in the hydrocarbon market
Carolina Arriagada Peters
What are the top challenges facing the growth of FDI in the UAE and how can they be overcome?
Remaining at the forefront of business-friendly reforms is critical for sustaining strong FDI performance, experts told Arabian Business
bonds
Investing during a period of corrections: How to stay cool amid the panic
Sensible investing is an incredible mechanism to accumulate wealth over time, but it doesn’t come without risk. Volatility is the price we have to pay. And patience is the game we must embrace.
business activities
Sharjah witnesses 4.8 percent GDP growth to $35.3bn in 2021, boosting status as a trade hub
Sharjah’s trading sector was the most significant contributor to GDP at 23.8 percent, followed by construction and real estate, among other sectors, according to data from the emirate’s Department of Statistics and Community Development
business activities
e-Trader licences in Dubai climb to 18,013 marking emergence of e-commerce as a key economic activity
e-Trader licences enables start-ups and freelancers in Dubai to conduct business activities online and across social networking accounts