Economy

Egypt’s net foreign assets stayed positive for a second straight month in June having been deeply negative for more than two years, central bank data showed. NFAs slid to 626.6 billion Egyptian pounds in June from 676.4 billion pounds as…
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Qatar recorded a budget surplus of 2.6 billion riyals ($713.31 million) in the second quarter of 2024, the Finance Ministry said on Wednesday, adding it would use it to reduce public debt. The Gulf state, among the world’s biggest…
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Consumer confidence in Saudi Arabia ranks among the highest globally, with 95 percent of respondents believing the country is heading in the right direction, according to a new survey. The latest Ipsos Primary Consumer Sentiment Index…
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The International Monetary Fund has approved the disbursement of approximately $820 million to Egypt following the completion of the third review of the country’s extended arrangement. The IMF approved an expanded $8 billion support…
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Saudi Arabia’s northern province of Hail is set to attract increased investments due to its strategic and logistical importance, as emphasized by the region’s governor. Hail Gov. Prince Abdulaziz bin Saad highlighted the pivotal role of…
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Saudi banks will see their client base expand and earnings increase thanks to government-backed economic diversification efforts that are driving innovation and boosting productivity, according to a new report. According to Moody’s…
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Saudi Minister of Economy and Planning Faisal bin Fadel Alibrahim met the Egyptian Minister of Planning, Economic Development and International Cooperation Rania Al-Mashat on the sidelines of the G20 Development Ministers’ Meeting in…
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Following high-level meetings, trade relations between Saudi Arabia and Brazil have been lauded for their “remarkable development.” The efforts of Saudi Arabia to strengthen economic ties were highlighted in Sao Paulo, Brazil, where…
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Dubai’s economy saw 3.2 percent year-on-year growth in the first quarter of 2024, with its gross domestic product reaching 115 billion dirhams ($31.3 billion). The transportation and storage industry, as well as the financial and…
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The unavailability of certain key data has led Fitch Ratings to withdraw from categorizing Lebanon, as the agency no longer has sufficient information to maintain its assessment of the nation. The global credit rating agency has affirmed…
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