According to the Labor Department, the US labor market continued to add jobs at a strong pace in March, with payrolls increasing by 236,000. The unemployment rate also ticked down to 3.5%, the lowest level seen in over half a century. This comes despite the Federal Reserve’s efforts to cool off the economy, indicating that […]
According to a recent report by Ipsos, a France-based research and consulting firm, Saudi Arabia and the United Arab Emirates (UAE) have secured the top two positions for the strongest economies globally. The report, which was conducted in collaboration with Thomson Reuters, is based on the Primary Consumer Sentiment Index (PCSI) and analyzes consumer opinions […]
The Ministry of Human Resources and Emiratization (MoHRE) in the UAE has sent over 3,000 companies to Public Prosecution for failing to pay salaries through the Wages Protection System (WPS). This system mandates that companies transfer employee salaries electronically to their bank accounts, and it allows the MoHRE to monitor salary payments and take legal […]
Egypt’s currency, the pound, has dropped by nearly 20% against the US dollar since the beginning of 2023, with some experts predicting further decline. This positions the Egyptian pound as the sixth worst-performing currency since the start of the year. In 2022, the currency lost more than 50% of its value. The pound was trading […]
In an effort to reduce its reliance on oil and diversify its economy, Saudi Arabia has announced plans to invest $38 billion in the gaming industry. The investment will be made by the Public Investment Fund (PIF), a sovereign wealth fund, into the $184 billion global gaming industry. Savvy Gaming Group, a subsidiary of PIF, […]
According to a recent report released by Realiste, a prop-tech company based in Dubai, the luxury real estate market in the city is expected to experience a significant surge of 14% in high-end residential property. This growth is being primarily driven by Chinese and Russian investors, with demand for premium properties in Dubai on the […]
US companies are becoming increasingly negative about doing business in China due to rising tensions between the two nations, according to Michael Hart, President of the American Chamber of Commerce in China (AmCham China). AmCham China’s annual survey found that 55% of its members no longer consider China a top-three investment priority, while 66% cited […]
The United Arab Emirates UAE and Israel have taken another significant step in strengthening their newly formed, albeit controversial, relationship by finalizing an agreement that recognizes each other’s driving licenses. The development follows the signing of a free trade agreement between the two countries. This move allows Israeli tourists and temporary residents to use their […]
China has been on an impressive economic growth trajectory in recent decades, with its economy now being the second largest in the world, only behind the United States. In comparison, the UK’s economy is the sixth largest in the world. In this article, we will explore five key reasons why China’s economy is bigger than […]
Dubai’s real estate market has hit yet another milestone this week as it surpassed the AED 8.692 billion ($2.4 billion) mark in property deals. According to the Dubai Land Department (DLD), around 3,164 deals were completed, including the sale of 218 plots worth AED 1.9 billion ($517 million) and 2,177 apartments and villas worth AED […]