Economy & Trade

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Saudi Arabia's economy should gather pace for the second half of 2014 (File/AFP)
Today
How well is Saudi Arabia's economy doing? It's time to have optimism towards the non-oil economy as it transitions into the labour market to turn favourable for 2015.

August 3, 2014

Part of the explanation of the rise in unemployment is that many young people have come onto the job market but have not yet succeeded in finding employment.
14:07 GMT

On the positive side the figures show that participation in the work force in June climbed from 64.2% to 64.7%.

The Ministry of Finance stressed in the report that the reforms made to the 2014/2015 state budget aim to stimulate the economy, boost employment rates and support social justice.
04:55 GMT

The new package aims to revitalise and expand the activities of the private sector through removing the “bottlenecks” facing economic key sectors.

July 31, 2014

The consumer goods and services index hit 196.8, a 1.4 percent rise compared to last month,
16:00 GMT

In March, Iranian Finance and Economic Affairs Minister Ali Tayyebnia said the country's inflation would fall below 15 percent.

Security alerts due to rocket attacks and frequent air raid sirens have disrupted business activity and caused a drop in industrial output and consumer spending.
15:42 GMT

The Bank of Israel cut its benchmark interest rate to 0.5 percent Monday from 0.75 percent, partly to offset economic damage from the conflict.

July 30, 2014

A Dh5,000 fine will be imposed on those who misuse the residency system or submit bogus reports to the residency departments across the country.
13:25 GMT

The new measures will include the issuing of a new array of entry permits and visas, such as multiple entry permits for visit or work; the activation of study visas, and entry permits for medical care and attending conferences.

July 27, 2014

Amman has dropped 14 places from 89 to 103 in Mercer’s 2014 Cost of Living Survey, which shows the most expensive expatriate destinations in the world.
05:16 GMT

But expatriates and an analyst said they find Amman “a city that gets more and more expensive every year”.

July 24, 2014

DP World
08:11 GMT

DP World Limited handled 29.4 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals during the first half of 2014, with gross container volumes growing by 9.3% on a like-for-like basis.

July 23, 2014

Economists hope the announcement will diversify Saudi Arabia's stock market (File/AFP)
08:21 GMT

Investors have welcomed a Saudi Cabinet decision to allow direct foreign investment in the country's stock market, with the move being seen as an attempt to diversify the economy away from oil.

July 22, 2014

Dubai Chamber
05:55 GMT
(press release)

In the framework of the preparation for the 10th World Islamic Economic Forum (WIEF), which will be organised in Dubai from 28-30 October 2014.

July 21, 2014

The number of jobless Jordanians is expected to reach 400,000 in 2030 if the unemployment rate continues at its last year’s rate of 12.6 per cent
04:55 GMT

The official figures showed that unemployment among males who hold a bachelor’s degree or higher reached 20.8 per cent, while among university graduate females it was nearly 82 per cent.

July 20, 2014

Dr. Sheikha Al Ghafri, Senior Manager of the Customs Training Center
07:00 GMT

The Human Resources, Finance and Administration Division at Dubai Customs has launched “Talent Care Program”, a first-of-its-kind initiative at the local, regional and international Customs level.

Once a top recipient of US military aid, Egypt lost most of its $1.3 billion a year package after the 2011 popular uprising that toppled Mubarak.
04:55 GMT

"The contract is worth about 1 billion euros and was finalised last month," a French diplomatic source said. "It's the first big deal since we sold Mirage fighters (warplanes) about 20 years ago."

July 15, 2014

 
Channeling assets of the capital market - mainly the stock market and the banking sector - into key oil, gas, and petrochemical industries can contribute to the nation’s economic growth.
15:28 GMT

Khamenei outlined the general policies of the program to promote the “economy of resistance”, which can lead the Iranian nation to victory in “the imposed economic war” with the West

DP World Vice Chairman, HE Jamal Majid bin Thaniah  with Kazakhstan Temir Zholy President HE Askar Mamin during their visit to the Port of Aktau
12:21 GMT

DP World Vice Chairman HE Jamal Majid bin Thaniah has visited the Port of Aktau to meet the Honorable Prime Minister of Kazakhstan HE Karim Masimov as part of their review of Kazakhstan’s infrastructure development at the Port of Aktau.

July 14, 2014

The European Union has annulled sanctions against 14 Iranian entities since President Hassan Rouhani took office in August 2013.
14:43 GMT

“The bowl of sanctions has broken… and [nobody] can return this broken bowl to its previous state,” Rouhani stated.