Economy & Trade

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The issue of Saudi's SMEs has been debated over the last few years (File/AFP)
April 17, 2014 - 17:39 GMT
Small and medium enterprises (SMEs) are set to contribute 37 percent to Saudi Arabia's GDP but should the Kingdom look elsewhere for investment?

Today

Saudi Arabia surpassed the United Kingdom, Japan and France in military spending in 2013 (Shutterstock)
09:00 GMT

Saudi Arabia ranks in the top four countries for military spending globally, according to a new report released out of Stockholm this week.

DP World has a portfolio of more than 65 marine terminals across six continents, including new developments underway
07:00 GMT

DP World announced today its participation in the leading recruitment, training and education exhibition, Careers UAE 2014.

April 17, 2014

Around 34 percent of households said they continuously upgraded their mobile phones (File/AFP)
16:09 GMT

Families in Abu Dhabi households reportedly spend an average of $1,498 on landlines and mobile phones while $1,004 is spent on education.

A total of 34 out of 41 warehouse units have been already pre-leased to a wide range of key national and international industry players who are now in the process of taking over
07:30 GMT

Khalifa Industrial Zone Abu Dhabi announced today that phase one of its massive Kizad Logistics Parkhas now been completed and warehouse units are being handed over to tenants.

April 16, 2014

Economic situation improving: Confidence grows as lifestyle and family life gets better in Abu Dhabi (File/AFP)
13:23 GMT

Consumer Confidence grew by 10 percent in 2013 according to the Abu Dhabi Department of Economic Development.

The rise in green building will see an increase in demand for materials in Qatar (File/AFP)
12:55 GMT

The Qatari government has pledged an estimated $182 billion into infrastructure, focussing on eco-friendly green building over next five years.

The Iranian official also pointed to nuclear negotiations between Tehran and the major powers and said that the talks will not threaten the interests of any countr
03:55 GMT

The expansion of relations with the Islamic Republic, which enjoys high status in the region, is one of the UAE’s priorities, said Sheikh Mohammad.

April 15, 2014

High demand: Halal food imports alone are set to increase to $53.1 billion by 2020 (File/AFP)
13:00 GMT

Food, lifestyle and products manufactured under Islamic law are expected to be worth $2.48 trillion in the next four years due to increasing demand and a growing Muslim population.

Saudi's Ministry of Health said the new hospitals will increase patient beds to 68,000 (File/AFP)
10:27 GMT

A top government official has announced the Kingdom's plans to build 63 new hospitals across the country, boosting service and quality medical care.

Activists and lawyers have defied the new law, suspecting the government of foul play.
03:55 GMT

Prominent lawyer and former 2012 presidential candidate Khaled Ali went as far as to describe the amended law as "legalised thuggery".

April 14, 2014

Washington lawmakers have refused to pass the reforms, claiming they would prove too heavy a burden during a time when the US is still running a large budget deficit.
17:29 GMT

The US is responsible for delaying long-awaited IMF reforms, Saudi Finance Minister Ibrahim Al-Assaf told Asharq Al-Awsat on the sidelines of the Spring Meetings of the IMF and World Bank in Washington, DC on Saturday.

H.E Ahmed Mahboob Musabih, Director General of Dubai Customs and  ATCUAE President Dr. Mohammed Ben Sulayem, signing the landmark agreement today
07:20 GMT

A global customs transit system has moved a step closer in the Emirates following the signing of an agreement today between Dubai Customs and the Automobile and Touring Club of the UAE.

 Kuwait last week contributed $2.5 million towards UNDP’s emergency support in Syria and neighbouring countries.
03:55 GMT

This year Kuwait contributed $500 million, and last year it contributed $300 million.

April 13, 2014

Commenting on the new law, His Excellency Sultan Bin Saeed Al Mansouri, UAE Minister of Economy, confirmed that the Federal Law No. 2 of 2014
12:21 GMT
(press release)

His Highness Sheikh Khalifa bin Zayed Al Nahyan, President of the UAE, issued Federal Law No. 2 of 2014, for the Small and Medium Enterprises sector, to regulate the relationship between all government institutions and entrepreneurs of small and medium enterprises.

Department of Economic Development
07:25 GMT

Consumers in Dubai see their personal financial situation improving and brighter job prospects on the road ahead as per the latest findings of the quarterly consumer confidence survey.