Middle East/Economy

Saudi Aramco becomes world's most valuable company

The Saudi Arabian oil giant is valued at $2.42 trillion, surpassing tech giant Apple

Report: Saudi Arabia to invest in Israel through Kushner's fund

This will mark the first public business transaction between the countries

Official inflation rate in Turkey neared 70 percent in April

Economists say Turkey's problems are attributable to Erdogan's unconventional economic strategy

Erdogan aims for investment in Turkey with Saudi Arabia trip

Experts believe that securing Saudi capital could help Turkey with its financial woes

Israel: Gaza border closure aims to up economic pressure on Hamas

'Firing rockets would lead into a very fast deterioration' in Gaza's economic situation

MENA startups raise $864m in first quarter of 2022

Startups in the UAE lead the MENA region, claiming 27 percent of all deals closed in 2022 so far

Ramadan shoppers face soaring prices at grocery stores

'Everything is expensive - meat is expensive, we will not buy it'

Israel, UAE finalize free trade deal

'This milestone deal will cement one of the world’s most... promising emerging trading relationships'

OPEC sticks to modest oil output despite Ukraine war pressure

OPEC plans to increase production by a marginal amount to 432,000 barrels per day in May

Taliban guards Buddha relics to secure investment from China

Mubariz says that 'Protecting them is very important to us and the Chinese'

Algerian, Chinese firms announce phosphate mining mega-deal

'The company will produce about [5.9 million tons] of fertilizer per year'

Germany and Qatar form long-term energy partnership

'The companies that have come to Qatar... will now enter into contract negotiations'

Digital art in spotlight as Dubai makes crypto hub bid

Art Dubai features digital works for the first time

US, UN urge end to blockade on Libya’s oil fields

'Blocking oil production deprives all Libyans from their major source of revenue'

Turkey’s inflation hits highest rate since 2002

The rising cost of living is a major source of public discontent for Turkey's inhabitants

Israel ‘optimistic’ as UAE free trade agreement nears

Ben-Zeev says 'We are very optimistic about the opportunities'

No full recovery until 2024, says Dubai airports chief

'We are nowhere near the pre-pandemic levels'

Saudi consumers expected to shop online more in 2022

Saudi communities are embracing digital commerce with 'great passion and remarkable speed'

Turkey: Opposition head won’t pay bills, protests price rise

'I will not pay any of my electricity bills from today until Erdogan withdraws the price hikes'

IMF greenlights $1 billion loan disbursement for Pakistan

Pakistan's growth is expected to reach four percent this year, but the IMF warns it remains vulnerable

Israel approves $94m joint R&D fund with UAE

'These investments are going to support the already explosive growth in Israel-Emirati trade'

Lebanon’s middle class feels the strain of economic crisis

Wissam says that Lebanon's leaders 'are all corrupt and thieves'

UK and Oman sign deal pledging to bolster investment ties

Lord Grimstone says 'Our two countries share a vision for a sustainable and prosperous future'

Iran calls for US to unfreeze Afghanistan’s overseas funds

Iran's foreign minister says the funds 'should be used for humanitarian purposes'