Economy & Trade

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“The recent fall in the oil price is also a warning that the region cannot be over-reliant on energy resources for GDP growth."
January 25, 2015 - 04:55 GMT
The proposed Arab Stabilisation Plan, ASP, would build a regional framework to promote infrastructure investment and create jobs.

January 12, 2014

Bahaa El Din said the government would hold a conference in March or April to discuss the financial needs of the country and to issue long-term infrastructure projects.
03:55 GMT

On 27 October, the government signed an agreement with UAE to finance development projects valued at $2.8bn as a part of the second package

January 9, 2014

Sharjah has received its first sovereign credit ratings. (Image credit:
10:20 GMT

Sharjah, in its first sovereign credit ratings, has been assigned A-class economy with stable outlook by two leading agencies that will help strengthen the emirate’s investment profile.

The sultanate’s government recently released a 2014 budget with state planning to spend OMR13.5 billion, up five per cent from the original plan, which envisaged a 29 per cent hike from 2012 expenditure.
03:55 GMT

Oman’s average monthly household income rose 83.9 per cent in the period between 2001 and 2011 from OMR637.53 ($1,654) to OMR1,172.258 ($3,044)

January 8, 2014

Bahrain parliament voted to establish the private sector minimum wage Tuesday (Courtesy of Gulf News)
09:18 GMT

Bahrain MPs approved a bill this week that ensures all Bahrainis receive at least a minimum wage of $792 a month in the private sector

The yellow metal is back in fashion among Emirati shoppers. (Image credit: Wikimedia)
09:03 GMT

There's one reason why consumers have pushed up average daily sales volumes to 200 to 225 kilos in the Emirate.

Ibrahim Al Janahi, Dy. CEO  with Jafza Staff at the Jafza ‘Thank You Khalifa’ initiative
05:40 GMT

Jafza employees and customers today joined His Highness Sheikh Mohammed’s ‘Thank You Khalifa’ initiative by writing their message of gratitude and appreciation on a board themed ‘Thank You Khalifa’.

January 6, 2014

According to the latest data released by the Iranian Customs Administration, Iran exported USD 2.682 billion worth of non-oil commodities to the UAE during the nine-month period.
03:55 GMT

On a similar note, the UAE, China, India, South Korea, and Turkey were the leading exporters of non-oil products to Iran.

January 5, 2014

The Saudi Ambassador in Cairo, Ahmed Kattan said, “Trade between the two states has continuously grown since the January 25th Revolution. It now exceeds $5bn.
16:31 GMT

Large numbers of Saudi businessmen expressed interest in investing in Egypt during the association’s launch party last Thursday.

Saudi Arabia's Iktifaa will grow wheat, corn and oilseeds in Sudan (Courtesy of BBC)
11:33 GMT

Saudi Arabia's agricultural company Iktifaa is investing in Sudan's agriculture industry to produce grain and cattle feed.

DC’s senior officers and staff ardently joined ‘Thank You Khalifa’ initiative
10:19 GMT

In spontaneous interaction with the initiative of loyalty and gratitude, ‘Thank You Khalifa’, to the UAE President, Dubai Customs’ staff community took part in writing down words of thanks and gratitude to the UAE leader.

Qatar's growth was spurred by double-digit growth in trade, restaurants and hotels; construction; transport and communication; financial, real estate, and business services; as well as domestic services. (Image credit: Shutterstock)
07:33 GMT

Qatar’s economic growth accelerated at a buoyant 6.2 percent pace in Q3 2013 compared with Q3 2012, according to figures released by the Ministry of Development Planning and Statistics.

Turkey has an official 5% inflation target and a most recent central bank forecast of 6.8% for 2013.
03:55 GMT

Turkish consumer prices rose 0.46% month-on-month in December.

January 2, 2014

Kuwait decided for the second year in a row to transfer 25 percent of revenues into the emirate’s sovereign wealth fund, the assets of which are currently estimated at over $400 billion.
03:55 GMT

The main reason for the sharp drop in surplus is a 50 per cent jump in spending to KD5.1 billion by the end of September from KD3.4 billion a year ago, the official data showed.

January 1, 2014

2013 was a year of gains for GCC stocks. (Image credit: Shutterstock)
08:08 GMT

GCC stock markets closed 2013 on positive note Tuesday, with all the benchmark indices registering gains at close of trading.

December 31, 2013

“And, with low inflation pressures, there is still some downside risk for gold as long as the stock market remain relatively robust.”
17:16 GMT

Gold fell in thin holiday trade, heading for its biggest annual loss in more than three decades at nearly 30 percent.