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Economy and Policy

Economy and Policy latest

US Aircraft Carrier in the Arabian Sea
July 16th, 2026 - 06:46 GMT
P. Choiaqo

P. Choiaqo

Saudi Arabia to buy $2 billion worth of weapons from the US

ALBAWABA - The sale of an estimated $1.96 billion worth of weapons focused on air defenses to Saudi Arabia has been approved, according to the U.S. State Department. The weapons sought by the Kingdom of Saudi Arabia are around 20,000 Advanced Precision Kill Weapon Systems and its warheads which are described as "an inexpensive way to destroy targets while limiting collateral damage in close combat.” According to the U.S. Navy ...
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The number of foreign workers in the Kingdom is expected to decline from 12.2 million - or 37 percent of the country’s population - to 32.6 percent by the middle of 2017. (AFP/ File)
August 28th, 2017 - 12:44 GMT

Expat Remittances Drop 8 Percent as Saudi Arabia Enforces Expat Fee

Only 192 M&A deals were recorded across the region during the first half of 2017, compared to 250 deals in 2016. (Shutterstock)
August 28th, 2017 - 11:57 GMT

Middle East's M&A Deals Drop 23 Percent in First Half of 2017: Report

UAE president, Sheikh Khalifa bin Zayed Al Nahyan. (File photo)
August 28th, 2017 - 10:52 GMT

UAE President Approves 5 Percent Value-Added Tax, to Start in 2018

Mecca is set to host 30 million pilgrims and Umrah performers by 2030. (File photo)
August 28th, 2017 - 10:22 GMT

Economics of Hajj: Umrah, Hajj Revenues to Exceed $150 Billion by 2022

Sudanese President Omar al-Bashir walks past Chinese military honor guard during a welcoming ceremony in Beijing on June 29, 2011. (Liu Jin/ AFP)
August 27th, 2017 - 11:53 GMT

Sudan Gets $160 Million in Debt Relief From China

The country said it would allow complete foreign ownership of all types of education centers, including primary schools. (Amer Salem/ AFP)
August 27th, 2017 - 10:12 GMT

Saudi Arabia to Allow Full Foreign Ownership for Health, Education Sectors

DP World's first-half revenues were up 9.6 percent to $2.29 billion, from $2.09 billion in June 2016. (File photo)
August 27th, 2017 - 10:05 GMT

DP World's Cash Flow Steady Despite Flat First-Half Results: CEO

King Salman. (AFP/ File photo)
August 27th, 2017 - 09:36 GMT

Saudi Arabia, China Announce $20 Billion Joint Investment Fund

The canal is the fastest shipping route between Europe and Asia and one of Egypt’s main sources of foreign currency. (AFP/ File)
August 24th, 2017 - 02:04 GMT

Egypt's Suez Canal Revenues Rise to $447.1 Million in July

Qatar's non-oil exports in July registered a jump of 67 percent from June. (File photo)
August 24th, 2017 - 01:20 GMT

Qatar's Non-Oil Exports Return to Pre-Siege Levels in July: Report

An expatriate in the UAE spends an average of Dh6,000 (~$1,630) per year on money transfers, according to a new report. (File photo)
August 24th, 2017 - 11:52 GMT

UAE Expats Spend $1,630 Per Year on Money Transfers: Report

The new service will be initially operated with one vessel with a capacity of over 5,000 tons per voyage and will cater to temperature-controlled cargo and break-bulk. (File photo)
August 23rd, 2017 - 02:19 GMT

Qatar, Turkey Launch Direct Refrigerated Container Route

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