Economy & Trade

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Saudi Arabia, as the world’s largest exporter of oil and the largest economy in the Arab world, has systemic importance to the world economy and the international financial markets.
Late King Abdullah bin Abdulaziz, the sixth king of Saudi Arabia, had a profound impact on the Saudi economy and oil policy.

August 12, 2013

Owners of different businesses have expressed their frustrations, as their sales had fallen by 20 per cent during the first days of the Eid festival, as compared to the previous years.
07:49 GMT

Eid is the 'peak business season' for traders of different commodities, this year brought a 'big surprise' to business owners, as the number of customers was far less than what they had earlier expected.

The Dubai stock benchmark DFM General Index fell 0.24 per cent to close at 2667.65.
07:37 GMT

Abu Dhabi and Dubai indices fell on Sunday, the first day after the long Eid holiday weekend, amid a drop in trading volumes and a dry news spell globally at the end of last week.

August 7, 2013

700,000 inhabitants of those areas will benefit from the project and will have their living conditions improved
11:10 GMT

The EU Delegation in Tunisia has made a grant of €32.9 million to Tunisia to renovate 119 neighbourhoods throughout the territory;

August 6, 2013

Officials from Sharjah are to target Washington and New York next month on an investment roadshow (Getty images)
12:30 GMT

The first roadshow to the US hopes "open new avenues of cooperation in various areas, particularly with the huge participation of public and private sector in the delegation".

A healthy inflation target in stable economies ranges between 2-3%.
12:14 GMT

Iran's inflation rate hits 33.9 percent.

International Business Network
10:11 GMT

The Dubai Chamber of Commerce and Industry Tuesday launched an online business community, International Business Network (IBN).

Dubai Electricity and Water Authority
06:09 GMT
(press release)

Dubai Electricity and Water Authority has been entered into the Hall of Fame for Investors in Excellence by the British Investors in Excellence organisation.

August 5, 2013

Seized bags used in smuggling crystal meth
11:07 GMT

Dubai Customs’ inspectors at the Dubai International Airport managed to successfully abort an attempt to smuggle over 4 kilograms of crystal methamphetamine inside two travelling bags.

The new law will come into force six months from the date of issuance and is part of a number of legislative developments designed to install international best practices and further enhance the economic development of Kuwait, said a press release from DLA Piper.
08:47 GMT

"The new law is part of a number of recent, positive legislative developments in Kuwait's investment sector designed to encourage foreign investors as well as align it with international best practices, as Abdul Aziz Al-Yaqout, Regional Managing Partner, DLA Piper Middle East, said,

August 1, 2013

According to the IFC, the $3 billion committed during the 2013 fiscal year, which ended June 30, includes $914 million mobilised from other investors
14:55 GMT

The International Finance Corporation announced in a press statement on Wednesday that it committed $3 billion last year to support economic development in the Middle East and North Africa.

Abu Dhabi Customs
09:59 GMT
(press release)

The Abu Dhabi Customs Academy held the graduation of the seventh batch of the Constitutive Customs Officers Course.

Group photo
07:11 GMT
(press release)

Dubai Electricity and Water Authority honoured the winners of the ‘Go Green’ initiative, which was launched at 15 of DEWA’s offices and branches.

July 31, 2013

Several countries experiencing socio-political upheaval at worst, and fragile economies at best
11:55 GMT

Confidence amongst business leaders in the Mena region rose more than two points in the second quarter of this year to 62.6, its highest level in more than a year, according to a report.

Aqaba Container Terminal
08:53 GMT
(press release)

Under the supervision of its social committee, Aqaba Container Terminal, the world’s gateway to Jordan and beyond, recently concluded the third phase of its Ahl Al Khair (People of Charity) initiative.

DP World
06:49 GMT

DP World Limited handled 26.6 million TEU (twenty-foot equivalent units) across its global portfolio in the first half of 2013.