Economy

French Interior Minister Gerald Darmanin undertook an official visit to Saudi Arabia from Feb. 14 to 16, following an invitation from his Saudi counterpart, Prince Abdulaziz bin Saud bin Naif. The two ministers addressed matters…
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UAE’s non-oil foreign trade reached a record-breaking 3.5 trillion dirhams ($953 billion) in 2023, significantly increasing from the 2.2 trillion dirhams recorded the year before. Trade between the country and its top 10 crucial foreign…
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Bilateral trade relations between Saudi Arabia and Georgia received a boost with the signing of four agreements focusing on industry, energy, and culture during a business forum in Tbilisi. The deals that were signed during the…
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The Organization of the Petroleum Exporting Countries expects strong growth in global oil demand in 2024 and 2025 driven by robust economic activities in China. In its latest monthly report, the oil producers’ group said world oil demand…
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Egypt is responding to recent global economic turmoil by encouraging private sector investment, exploring new technologies, prioritizing the green transition, and shaking up its governance model, Egyptian Prime Minister Mostafa Madbouly has…
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The leaders of Japan and Italy said Monday they will bolster their cooperation in security and defense, including their joint next-generation fighter jet development with Britain, as Tokyo welcomed the European nation’s shift toward playing…
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Egypt is set to establish 11 free zones across different newly-built cities across the country to boost industrialization and attract foreign investments. The country’s prime minister Mostafa Madbouly, chaired a special meeting to review…
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Increased credit to corporate activities propelled a 10 percent annual surge in loans for Saudi banks in 2023, reaching SR2.58 trillion ($690 billion), the latest data showed. According to the Saudi Central Bank’s latest monthly…
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Jordan has effectively managed to overcome the economic difficulties stemming from the war in Gaza through several fiscal measures, according to the Washington-based lender IMF. Jihad Azour, the director of the Middle East and Central…
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Kuwait’s budget deficit is expected to decrease by 13.5 percent in the 2024-25 fiscal year, according to a draft budget released by the Ministry of Finance. The shortfall is forecasted to hit 5.89 billion dinars ($19.15 billion), with…
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