Unemployment among males in 2016 stood at 13.3 percent, while female unemployment reached a whopping 24.1 percent. (AFP/ File)
August 15, 2017 - 09:27 GMT
The unemployment rate in 2016 increased by 1.6 percent, reaching 15.3 percent.
The project is expected to produce half of the country’s planned renewable energy output. (File photo)
August 15, 2017 - 09:20 GMT
Companies have been given a September deadline to express interest.
Diplomatic ties between the two countries were severed in the wake of Saddam Hussein’s 1990 invasion of Kuwait, but are now being revived. (Christophe Simon/ AFP)
August 15, 2017 - 08:49 GMT
Saudi Arabia and Iraq will launch a joint trade commission, the Saudi Cabinet announced on Monday.
Saudi Crown Prince Mohammad Bin Salman. (AFP/ File)
August 15, 2017 - 08:22 GMT
The authority aims to regulate the military industry in the Kingdom and monitor its performance.
Recurring revenue from Emaar’s shopping malls and retail, hospitality and leisure, commercial leasing and entertainment businesses represents 38 percent of the total revenue. (File photo)
August 14, 2017 - 15:26 GMT
Emaar Properties has recorded a 15 percent growth in net profit for the first six months of 2017.
The contractor posted a net loss of Dh199 million for the second quarter of 2017. (File photo)
August 14, 2017 - 15:19 GMT
Dubai contractor Drake & Scull International has completed the sale of a majority stake to Tabarak Investments.
Saudi Arabia hosted the only three IPOs of this quarter. (File photo)
August 14, 2017 - 14:35 GMT
Activity in the IPO segment in the GCC region witnessed a slowdown during the second quarter of 2017, according to a new report.
The property market in Dubai continues to demonstrate further stabilization following the turbulence seen in 2016 with the drop in oil prices and sluggish global trade. (File photo)
August 14, 2017 - 14:26 GMT
Damac Properties has reported a total revenue of Dh3.5 billion ($952 million) for the first half of 2017, a 4.5 percent increase from last year.
Consumer spending is a major component in the UAE's GDP with a 45 percent share, compared to 39 percent on average for the GCC region. (File photo)
August 14, 2017 - 14:11 GMT
Total expenditures by residents in the UAE surged in 2016, led by huge expenses on rents and food.
The recovery in oil prices this year had been a key factor behind the reduced budget deficit. (File photo)
August 14, 2017 - 10:50 GMT
Saudi Arabia’s budget deficit halved following sweeping spending cuts and a jump in oil revenues.
The list of the worst 10 airports around the world has Jeddah at the top, followed by South Sudan and Nigeria closing the top three. (AFP)
August 13, 2017 - 13:22 GMT
Jeddah's King Abdulaziz International Airport has been ranked the worst airport in the world for 2016.
Muscat also emerged as the most affordable city to live in the Middle East, along with Khobar and Jeddah in Saudi Arabia. (File photo)
August 13, 2017 - 13:00 GMT
Oman has emerged as the third most affordable place to buy a home in the world, according to a new report.
The parks are expected to generate an estimated SAR130 billion ($34.6 billion) and draw 5.6 million visitors annually. (File photo)
August 13, 2017 - 12:47 GMT
Saudi Arabia is looking to build 24 parks across the kingdom in partnership with the private sector.
Profitability at the five largest Saudi banks could be pressured going into 2018, according to Moody's. (File photo)
August 13, 2017 - 12:14 GMT
Profitability at the five largest Saudi banks could be pressured going into 2018.
The agreements focused on pharmaceuticals, foodstuff, construction, building materials, shipping, logistics, plastic, aluminium, glass, technology, furniture, and air-conditioning sectors. (Shutterstock)
August 13, 2017 - 11:59 GMT
The two countries are strengthening bilateral cooperation in a number of fields such as food products, construction, and electricity.
The developer has announced the completion of Azizi Royal Bay in just 22 months. (Courtesy of Azizi Developments)
August 13, 2017 - 10:50 GMT
The property developer expects to handover five more projects for the remainder of the year.