growth

Saudi utility firm ACWA Power is set to increase its capital by SR7.13 billion ($1.89 billion) as part of its strategy to triple assets under management by 2030. This move, facilitated through the issuance of right issues as per a…
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Bahrain’s economy registered an annual increase of 2.4 percent in 2023 to hit 13.66 billion dinars ($36.24 billion), driven by financial project expansions, official data showed. According to figures from the Information and eGovernment…
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The non-oil sector in the UAE experienced its second-best growth in four-and-a-half years, as the Emirate’s Purchasing Managers’ Index reached 57.4 in December 2023, as per an economic tracker. The latest S&P Global PMI report…
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Saudi Arabia’s startup ecosystem flourished in 2023 with the venture capital sector reaching new heights. The entrepreneurial environment in the Kingdom charted a new course for economic prosperity, positioning Saudi Arabia as a leading…
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Qatar’s gross domestic product experienced a 1 percent growth in the second quarter of 2023 compared to the same period last year, according to official figures released by the Planning and Statistics Authority. The year-on-year GDP…
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Startups in the Middle East and North Africa region continue to attract robust investor interest, showcasing sustained vitality in entrepreneurial activity. In August 2023, MENA startups raised over $76 million through 18 deals which…
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The non-oil private sector in Dubai witnessed steady growth in July even as the emirate’s Purchasing Managers’ Index slipped slightly compared to June, an economy tracker revealed. According to S&P Global’s latest report, Dubai’s PMI…
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Saudi Arabia achieved strong growth across all sectors despite global economic headwinds, with non-oil and oil business activities contributing significantly to the Kingdom’s real gross domestic product in the first quarter of 2023,…
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The Islamic finance industry is forecast to grow in 2023-2024 thanks to Saudi Arabia’s strong banking system, according to a new report from S&P Global Ratings. The US-based agency expects around 10 percent growth across the industry…
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The global economy is set for a “lost decade” according to the World Bank as it forecasts that economic growth is set to hit a 30-year low. A report from the organization warns average global domestic product growth will drop to 2.2…
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