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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 agency said the foreign assets of the Saudi banks reached their highest level in May since July 2016. (AFP/ File)
July 26th, 2017 - 06:00 GMT

Saudi Arabia's Foreign Assets Close to SR2 Trillion: SAMA

Turkey claims most foreign funds are linked to EU member countries. (File photo)
July 25th, 2017 - 10:20 GMT

Foreign Investment in Turkey up 11.2 Percent in First 5 Months of 2017

Saudi Arabia offered its first Riyal-denominated Sukuk to investors on Sunday this week. (File photo)
July 25th, 2017 - 09:38 GMT

Saudi Arabia Gets Bids of $13.6 Billion for $4.5 Billion Domestic Sukuk: SPA

Oman recorded a deficit of 21 percent of its GDP in 2016 as the oil price plunged to its lowest level in years. (File photo)
July 25th, 2017 - 09:25 GMT

Oman Slashes Subsidy Bill by 20 Percent, Eyes Further Cuts

The government policy announced earlier this year for import restrictions is bearing its fruits. (Facebook/ R. Boudraa)
July 25th, 2017 - 08:39 GMT

Algeria Announces 54 Percent Drop in Trade Deficit in H1 2017

By limiting jobs in grocery stores to Saudis, the country expects to generate more than 20,000 job opportunities for citizens. (AFP/ File)
July 25th, 2017 - 08:28 GMT

First Malls, Now Supermarkets: Saudi Arabia Bans Foreigners From Grocery Store Jobs

The recent decline in oil prices could weigh further on the outlook for the region's oil exporters. (File photo)
July 25th, 2017 - 08:12 GMT

Middle East Growth Dips in 2017 on Lower Oil Prices: IMF

Abdul Baset Al Janahi, CEO of Dubai SME
July 25th, 2017 - 10:22 GMT

MBRF-Beehive Partnership Enables Dubai-Based Trading Firm Secure Competitive Financing

Inspectors of Passenger Operations Department became suspicious about the man’s behavior and carefully monitored him till he arrived at the customs zone.
July 25th, 2017 - 10:06 GMT

Dubai Customs Foils Bid to Smuggle Jewellery and Luxury Watches in DXB Terminal 3

Hamad Buamim, president and CEO of Dubai Chamber
July 24th, 2017 - 09:28 GMT

Dubai Chamber Members’ Trade Hits $40bn in H1

Sheikh Zayed City Egypt
July 24th, 2017 - 05:32 GMT

ADFD Provides Strategic Funding for 64 Development Projects in Egypt Worth AED4 Billion

The absence of a legal framework for bankruptcy has long been a hindrance to UAE businesses. Not anymore. (Shutterstock)
July 23rd, 2017 - 11:17 GMT

A Look at UAE's New Bankruptcy Law: How It Works and Why It's Good News

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