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Saudi Arabia’s non-oil exports continued their upward trajectory, reflecting the Kingdom’s ongoing efforts to diversify its economy. According to data from the General Authority for Statistics (GASTAT), non-oil exports, including re-exports, grew by 10.7% in January, while excluding re-exports, they increased by 13.1%. The International Trade Statistics Bulletin for January, published by GASTAT, reported a 2.4% growth in Saudi Arabia’s total merchandise exports compared to the same period last year. Meanwhile, oil exports saw a slight decline of 0.4% in January. The share of oil exports in total exports also dropped from 74.8% in January 2024 to 72.7% in January…

Alamy via Reuters Eid celebration fireworks at Katara Cultural village, Qatar. More Eid travellers from across the GCC and Europe are enjoying cultural celebrations Throughout Ramadan, the question I am asked more frequently than any other is: “Where should we go for Eid this year?”  It’s an occupational hazard for anyone working in tourism, although hopefully, it leads to more interesting conversations around the Iftar table than doctor friends constantly being asked about ailments, or accountants discussing tax affairs. So, what trends have we spotted for 2025, and where should you book if you want to stay ahead of the…

The nodding donkeys in Awali, where oil was first discovered in the centre of Bahrain in 1932, are museum pieces now. The government is pushing for the surrounding oil settlement, an unreconstructed mid-twentieth century company town complete with cricket pitch, pub and church, to be listed by Unesco as a world heritage site. To the north in Manama, the capital, the lower house of parliament has just approved the budget. The government has proposed an environmental tax on companies’ carbon emissions – the first of its kind in the Arabian Gulf – while a new fiscal plan includes a corporate tax and an…

The Lebanese Cabinet has appointed Karim Souaid as the new Governor of the Central Bank of Lebanon during a government session held on Thursday at the Presidential Palace in Baabda. Souaid secured 17 votes out of 24, the total number of ministers in the Lebanese government. He is expected to play a pivotal role in restructuring the commercial banking sector and managing the distribution of an estimated $72 billion in financial losses resulting from Lebanon’s economic collapse—a crisis that has impoverished most Lebanese citizens and devastated the local currency, according to Reuters. Souaid brings extensive experience in finance, banking, and…

Unsplash+/Getty Images UK FDI inflows to Oman were again focused mainly on oil and gas Companies from the UK were once again the biggest source of foreign direct investment to Oman last year, with FDI focused primarily on oil and gas, Oman government data show. UK companies pumped nearly OR2.85 billion ($7.4 billion) into the sultanate last year, making them accountable for more than half the cumulative stock of FDI, according to Oman’s National Centre for Statistics and Information.  Total UK companies’ stock of FDI rose from OR12.46 billion at the end of 2023 to OR15.31 billion on December 31,…

The US government is on a global egg hunt, seeking exports from countries in Europe and elsewhere to ease a severe shortage that has caused egg prices at grocery stores to hit record highs.Germany, Italy, Poland and Sweden are among the nations the US Department of Agriculture approached to address the shortage brought on by a bird flu outbreak, according to European industry groups.But supplying Americans with eggs would be complicated for foreign producers — and not because of political tensions over the myriad import tariffs President Donald Trump has imposed or threatened to impose on his nation’s top trading…

Reuters/Mohamed Azakir People walk past Lebanon’s Central Bank building in Beirut on March 27, 2025 Lebanon needs a comprehensive strategy for rebooting its economy in order to access a programme with the International Monetary Fund (IMF), with stress on data transparency, the fund said on Thursday. “First and foremost, what is needed is a comprehensive strategy for economic rehabilitation,” said fund spokesperson Julie Kozack in a press briefing. She confirmed that the government had formally requested a new programme during an IMF mission to Lebanon that took place earlier in March. Kozack said the reform programme should focus on fiscal and debt…

Reuters/Jean Luis Arce Goldcorp’s open pit gold mine in Penasquito, Mexico. $3,100 per ounce is the next big milestone for gold prices, said one analyst Trump’s tariffs driving gold rush Price nears $3100 per ounce More US tariffs due next week Gold prices scaled a record peak on Friday as concerns over US President Donald Trump’s fresh tariff plans ignited fears of a global trade war, driving a rush towards the safe-haven allure of the precious metal. Spot gold climbed 0.6 percent to $3,073.79 an ounce, as of 02:30 GMT, after hitting an all-time high of $3,077.44 earlier in the session. Bullion is up 1.7…

Lucid The value of PIF’s stake in US electric vehicle maker Lucid has fallen more than $30 billion Holdings in 59 US companies Value peaked at nearly $60bn Big losses on EV maker Lucid Saudi Arabia’s Public Investment Fund (PIF) has made some big gains but has also been hit by some substantial losses in listed US companies in the five years since it began publishing its holdings, AGBI analysis shows. Overall, the value of its assets in publicly traded companies in the US has plunged 55 percent from its near $60 billion peak in 2021, driven almost entirely by…

– JAECOO 8 pre-sale opening, attracting widespread attention – starting a new journey.- The brand plans to launch the A0-class light off-road SUV—JAECOO J5—during the first half of this year, further expanding its product portfolio.- In April, OMODA&JAECOO will showcase at the Shanghai Auto Show and host the Global Dealer Conference in Wuhu, unveiling the brand’s future strategic plans and introducing the all-new OMODA C3.Since the successful launch of the JAECOO J7 in Saudi Arabia, the JAECOO series has become a favorite among Saudi consumers due to its delicate appearance and outstanding off-road performance. OMODA&JAECOO have keenly recognized the…