Economy Middle East

The global airline industry is navigating a period of intense volatility as external shocks place significant pressure on financial stability. Fitch Ratings has revised its 2026 outlook for the global airline sector to ‘deteriorating’ from ‘stable,’ reflecting profitability pressures from the sharp rise in jet fuel prices, and a rising risk of demand destruction driven […]

The Organization of the Petroleum Exporting Countries (OPEC) expects robust oil demand growth and is maintaining its current estimates, Secretary General Haitham Al Ghais said on Thursday at the St. Petersburg International Economic Forum. The outlook remains steady despite ongoing conflict in the Middle East and concerns regarding the temporary closure of the Strait of […]

Saudi Arabia’s economy is expected to grow by about 2 percent in 2026, assuming maritime shipments through the Strait of Hormuz normalize in the coming months, said Azim Sadikov, who recently led an International Monetary Fund (IMF) staff team to the Kingdom. Sadikov noted that non-oil activity would be supported by domestic demand, underpinned by […]

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The Dubai Department of Economy and Tourism (DET) has launched “SME in a Box”, a new unified platform designed to make it faster, simpler, and more cost-efficient for entrepreneurs to start and operate businesses in Dubai. The platform provides founders with a single digital entry point to access essential business services, including licensing support, corporate […]

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Saeed Mohammed Al Tayer, MD & CEO of Dubai Electricity and Water Authority (DEWA), revealed that the authority’s clean energy production capacity now accounts for more than 21.5 percent of its total energy production capacity. He added that, in line with the Dubai Clean Energy Strategy 2050 and the Dubai Net Zero Carbon Emissions Strategy […]

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