Saudi Arabia's real GDP is expected to contract 3.6% in 2026, largely because of a sharp decline in oil activity, even as the non-oil economy continues to expand, according to the Ministry of Finance's Pre-Budget Statement for 2027.
Saudi Arabia has achieved 93% of the targets set for its Vision 2030 programmes and strategies after a decade of reforms that have transformed the Kingdom’s economy and strengthened its resilience to external shocks, HRH Prince Mohammed bin Salman, the Crown Prince and Prime Minister, said on Wednesday.
Leading real estate project developer Diyar Al Muharraq has signed a strategic agreement with Kuwait Finance House – Bahrain (KFH) to offer financing options to prospective buyers of residential plots at the Al Nuzha development located in the Northern Islands within its mega integrated city.
Dar Global, the London-listed luxury international real estate developer, has recorded solid results for the first half, with a 66% jump in its revenue which rose to $258 million over $155.4 million last year mainly driven by the group’s projects across its diversified portfolio in the GCC, Europe and UK.
Singapore-based investment company Temasek has announced its plans to deepen engagement across the Middle East, where it sees significant long-term opportunities for itself and its portfolio companies.
Mashreq, a leading financial institution, has successfully completed a live transaction with Citi using Swift’s blockchain ledger infrastructure, marking an important step in the evolution of always-on cross-border payments.
The UAE has emerged as one of the world's most competitive urban destinations, with Abu Dhabi and Dubai placed at the top of global benchmarks, says a report.
Al Masraf has tied up with with Sukoon Insurance and Sukoon Takaful to offer customers access to a broader range of protection and insurance solutions.
Emirates NBD, a leading banking group, has provided a bilateral capital expenditure term loan to TIM Aerospace.
Pantheon, a leading global private markets firm with $84bn in assets under management based in UK, has announced the opening of its first office in the Middle East region at ADGM, the international financial centre based in Abu Dhabi, alongside the appointment of Firas Mallah as its new managing director and regional head.
