RIYADH: The UAE’s gross domestic product is set to expand by 4 percent this year, driven by robust domestic activities and relatively high oil prices, an International Monetary Fund has forecast. In its latest Article IV end of mission statement, the IMF noted that the Emirates is experiencing strong growth in domestic sectors, including tourism, construction, and financial services.
RIYADH: Real estate transactions are set to surge in Saudi Arabia in 2024 thanks to Vision 2023 investments, according to an S&P Global report. In a report titled “GCC Real Estate How Credit Stories Have Evolved,” S&P believes the Kingdom’s property sector will also benefit from economic growth of up to 3 percent in the Gulf Cooperation … Read more
RIYADH: Saudi Arabia’s real estate market is set for an upswing as high-net-worth Muslim individuals plan to invest $2 billion in Makkah and Madinah properties, a recent survey indicated. The survey was conducted by Knight Frank, a global property consultancy, and published in the firm’s inaugural Destination Saudi report. It found that among the individuals … Read more
RIYADH: More than SR180 billion ($48 billion) has been loaned to projects by the Saudi Industrial Development Fund over the last 50 years, according to figures released to mark the organization’s half-century. The total value of the 4,000 projects that the fund has invested in now stands at around SR700 billion. The leading financial institution … Read more
Chicago City Council members approve ‘Holocaust’ resolution, delay vote seeking Gaza ceasefire CHICAGO: Pro-Israel members of the Chicago City Council on Wednesday introduced and approved a resolution commemorating the Holocaust and argued that another resolution calling for a ceasefire in Gaza was “inappropriate” and should be delayed. Although Chicago City Council resolutions have no direct … Read more