Browsing: Business

MENA Newswire News Desk:  The European Union (EU) has reaffirmed its commitment to advancing global climate initiatives, pledging robust support for finance and…

MENA Newswire News Desk: The value of Russia’s gold holdings exceeded $200 billion for the first time in October, marking a historic…

MENA Newswire News Desk: Burjeel Holdings PLC, listed on the Abu Dhabi Securities Exchange (ADX), reported robust financial growth for the third quarter…

The UAE is projected to see GDP growth of 3.3% in 2024 and 4.1% in 2025, driven by a robust non-oil sector, according to the World Bank’s latest MENA Economic Update released today.

Russia’s GDP grew by 4.2% in the first eight months of 2024, driven by expanding international trade and stronger economic partnerships with ‘friendly’ nations.

OPEC has revised its 2024 global oil demand growth forecast down by 106,000 barrels per day, citing weaker-than-expected demand in non-OECD regions, impacting overall oil demand.

South Korea’s ICT exports surged for the 11th month, reaching $22.4 billion in September, driven by semiconductor sales and strong demand for AI technology. ICT trade surplus hit $9.88 billion.

WTO forecasts global merchandise trade growth of 2.7% in 2024 and 3.0% in 2025, citing easing inflation, declining interest rates, and risks from geopolitical tensions.

The IMF has reduced member borrowing costs by 36%, cutting annual surcharges by $1.2 billion. Five countries, including Argentina and Egypt, will benefit from the new policy starting November 1.

UAE and Malaysia have concluded negotiations on a Comprehensive Economic Partnership Agreement (CEPA) to enhance trade and investment by reducing tariffs and boosting private-sector cooperation.