According to the IMF, Saudi Arabia is set to benefit from OPEC production cuts due to a boost in oil prices.
The OPEC+ alliance has been working to limit oil production since early 2017, in an effort to stabilize oil prices.
The Saudi Industrial Development Fund approved $233 million in loans by Q1-2023.
The Saudi Industrial Development Fund (SIDF) has approved loans worth $233 million in the first quarter of 2023.
Dubai Airports is providing assistance to Sudanese travelers impacted by the cancellation of their flights.
Sudanese travelers stranded in Dubai after their flights were canceled due to the political unrest in Sudan have expressed their gratitude for the assistance being provided by Dubai Airports.
Firm oil prices have resulted in a decline of the Indian rupee against the UAE dirham.
Dirham has been a cause for concern among investors in India as the decline in its value against the Indian rupee makes imports more expensive, which could lead to higher inflation and put pressure on the Reserve Bank of India to raise interest rates.
In Dubai, the price of gold has increased slightly due to a weaker US dollar.
The spot price of gold in dubai reached an all-time high of $2,063.47 per ounce in August 2020, before falling back slightly in the following months.
The UAE has introduced Small Business Relief to support start-ups through corporate tax relief.
The Small Business Relief Scheme is a testament to the UAE government’s commitment to supporting the small business community and ensuring that it continues to thrive in the years to come.
The World Bank should offer ambitious solutions that are tailored to a post-pandemic world.
The World Bank has a unique opportunity to lead efforts to shape a post-pandemic world that is more resilient, sustainable, and inclusive.
Hamdan bin Mohammed has issued directives to provide AED70M in social benefits to Dubai’s People of Determination this year.
The AED70 million funding announced by Sheikh Hamdan bin Mohammed is expected to further enhance Dubai’s reputation as a leader in disability rights and inclusion.
The long-term issuer default ratings of eight Saudi banks have been upgraded to ‘A-‘ by Fitch.
Fitch Ratings has upgraded the long-term issuer default ratings of eight Saudi banks to ‘A-‘ in recognition of the resilience and strength that the banking sector has demonstrated during the COVID-19 pandemic.
Ahead of Eid Al Fitr, Emirates has ramped up its flight services across the GCC and the Middle East region.
Emirates, the Dubai-based airline, has announced that it will increase its flight services across the Gulf Cooperation Council (GCC) and the Middle East region ahead of the Eid Al Fitr celebrations. The airline will offer additional flights and enhanced connectivity to cater to the expected surge in demand for air travel during the festive period. […]