Economy

UAE Economy Achieves Strong Growth Driven by Non-Oil Sectors The United Arab Emirates (UAE) recorded significant growth in its real GDP, increasing by 3.8% during the first nine months of 2024, compared to the same period in 2023. The GDP reached AED 1.322 trillion, driven by strong performance in the …

Stability in Gold Prices Amid Anticipation of U.S. Job Data and Trade Tensions Gold prices remained steady during early Thursday trading, as investors awaited the release of U.S. non-farm payroll data, which could provide insights into the Federal Reserve’s interest rate decisions amidst escalating trade tensions between the United States …

The German postal company “Deutsche Post” has announced plans to cut 8,000 jobs by the end of this year as part of a strategy to reduce costs and improve operational efficiency. This move will affect about 4% of the employees in the domestic mail and parcel division, which employs 187,000 …

Lufthansa Group Reports Decline in Profits, But Revenue Increases in 2024 Lufthansa Group, the German aviation giant, has reported a decline in its net profits for the past fiscal year, with a drop of 17.6% to €1.4 billion, compared to €1.7 billion in 2023. At the same time, the group’s …

European Central Bank Expected to Cut Interest Rates for the Sixth Time to Boost Economy The European Central Bank is expected to reduce its main interest rates today, Thursday, for the sixth time since mid-2024, as part of its efforts to support the economy in the Eurozone. With inflationary pressures …

BP Announces Successful Drilling at Zohr Field in Egypt and Discovery of New Gas Reservoirs British oil company BP has announced the successful completion of drilling operations at the Fayoum-5 exploration well in the North Alexandria region, located in the Mediterranean Sea off the coast of Egypt. Drilling operations began …

Tunisia’s inflation rate decreased in February 2025, dropping to 5.7% compared to 6% in January of the same year, according to data from the National Institute of Statistics. The National Institute of Statistics attributed this decline to a slowdown in the price increase of key consumer groups, including food, clothing …

BlackRock, the world’s largest asset management firm, has highlighted the challenges posed by Bitcoin’s fundamental scarcity and its impact on wealthy investors. According to a report published by The Street and reviewed by Al Arabiya Business, BlackRock analysts pointed out that Bitcoin has a fixed supply of 21 million units, …

Trump’s Trade Policies Could Harm Israeli Exports to the United States Calcalist recently published a report highlighting growing concerns among foreign trade experts in Israel over the potential imposition of new tariffs on Israeli products by former U.S. President Donald Trump, particularly in the pharmaceutical and semiconductor sectors. These concerns …

CK Hutchison Sells Panama Canal Ports to BlackRock-Led Consortium for $23 Billion In a major deal, Hong Kong-based CK Hutchison Group has agreed to sell its controlling stake in its subsidiary managing ports near the Panama Canal to a consortium led by the American investment firm BlackRock. The transaction is …