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?

January 23, 2014

His Excellency Sami Al Qamzi, Director General of DED
09:29 GMT
(press release)

Dubai Exports (DE), the export promotion agency of the Department of Economic Development (DED), Government of Dubai, formally opened its overseas office in Mumbai.

The ambassador and the prince also discussed a number of topics related to economic bilateral ties between Saudi Arabia and Portugal.
03:55 GMT

The prince welcomed the idea to invest in Portugal and promised to visit the country in the near future.

International business leaders gathered in Davos for the 44th World Economic Forum Annual Meeting urged governments on Wednesday to make policy changes needed to stimulate the job market and restore trust between businesses and civil society.
03:55 GMT

“We must change the dialogue from what we do with the money we make to how we make the money,” Indra Nooyi, chairman and chief executive officer, PepsiCo, USA, said.

January 22, 2014

While not neglecting subsidizing other goods, the official said that prioritizing energy products over other goods is due to a new direction followed by the government.
22:04 GMT

Egypt is participating in the forum to restore international confidence in the country’s economy, and present some planned reforms.

Growth in the Middle East and North Africa, along with Afghanistan and Pakistan, is expected to stand at 3.3 percent this year, lower than the 3.6 percent
13:55 GMT

The International Monetary Fund (IMF) has cut its growth forecast for the Arab world, despite the global economy being expected to pick up in 2014.

Saudi Arabia is poised to become the first manufacturing country in the region
10:13 GMT

Saudi Arabia has the golden opportunity to attract global investments and is moving in the “right way” to become the leading manufacturing country in the region.

All in all, Iran’s trade balance with 96 countries was positive in the first eight months of 2013, according to data released by the Iranian Customs Administration Office.
00:02 GMT

The two-way trade grew by 5.3 percent in the first ten months of 2013 in comparison to the corresponding time last year.

January 21, 2014

Dubai Customs
04:55 GMT

Dubai Customs effectively thwarts smuggling bids of all goods infringing local and international laws.

January 19, 2014

Aqaba Container Terminal
07:47 GMT
(press release)

Aqaba Container Terminal (ACT), the world’s gateway to Jordan and beyond, ended the year 2013 by adding notable achievements to its long track record of success.

Dubai Customs
06:28 GMT

A high-level Italian delegation paid an official visit to Dubai Customs to learn about the experience of DC in customs business and online clearance of related transactions.

January 16, 2014

In the 20-year history of the index, Bahrain has consistently achieved a score greater than 70, well above the world average.
21:15 GMT

Overall, the kingdom is ranked 13th out of 178 economies worldwide, between the US and the UK which rank 12th and 14th respectively and is the only Mena country to rank in the top 20.

During the event
04:55 GMT

Dubai Chamber of Commerce and Industry expanded its global presence in promising markets with the opening of its third international representative office in the city of Erbil in the Kurdistan region.

The forum’s founder, Klaus Schwab, told reporters Wednesday at the organization’s lavish headquarters overlooking Lake Geneva that the event seeks to “push the reset button” on the world’s crisis mode.
03:55 GMT

Organizers of the World Economic Forum said Wednesday that hundreds of public figures are expected to attend, including the leaders of Iran, Israel, Japan and Britain.

January 15, 2014

“Aggregate growth for the region is projected at 2.8 percent in 2014, firming to 3.3 in 2015 and 3.6 percent in 2016, well below the region’s potential,” it added.
19:25 GMT

The developing economies of the region “remain depressed” despite the global economy showing signs of strengthening this year, according to the World Bank’s Global Economic Prospects report.

A delegation of economic and trade officials from Germany will travel to Iran in the coming days to explore ways to give a boost to bilateral ties.
03:55 GMT

In a meeting with Iran’s President Hassan Rouhani on October 7, 2013, Freiherr von Ungern said that his country attaches great importance to economic relations with Iran.