Browsing: Economic

Paris, June 3, 2026, SPA — Minister of Economy and Planning Faisal Alibrahim met today with Republic of Korea Minister for Trade Han-Koo Yeo to discuss ways to strengthen economic, trade, and investment cooperation, as well as the latest global economic developments, on the sidelines of the OECD Ministerial Council Meeting in Paris.

Riyadh, April 21, 2026, SPA — Secretary General of the Gulf Cooperation Council (GCC) Jasem Mohamed Albudaiwi affirmed that relations between the GCC countries and the Central Asian countries are based on solid foundations of shared history and mutual interests, expressing his confidence that this partnership will witness further growth and prosperity in the coming years, in a way that reflects the aspirations of its peoples for a more stable, prosperous and integrated future. He made these remarks during his participation in the workshop “Strengthening the Strategic Partnership between the GCC Countries and Central Asian Countries: Fr

17 March 2026 (Geneva) — The International Air Transport Association (IATA) released its Long‑Term Demand Projections (LTDP) for air travel, showing that global air passenger demand is expected to more than double by 2050. Under the mid‑range scenario, demand is forecast to reach 20.8 trillion revenue passenger kilometers (RPKs), based on a compound annual growth rate (CAGR) of 3.1% (2024-2050) from the 9 trillion RPKs seen in 2024. A higher growth scenario would see a 3.3% CAGR with passenger demand reaching 21.9 trillion RPKs in 2050. A lower growth scenario would see 2.9% CAGR with passenger demand reaching 19.5 trilli

11 March 2026 (Lima, Peru) – The International Air Transport Association (IATA) today released a report, showing air cargo’s vital role in sustaining global trade and supporting economic growth in 2025 amid severe trade policy uncertainty. Two key report findings are that: Air cargo enabled the frontloading of $157 billion US imports in the first quarter of 2025. Air cargo transported more than two thirds of global AI-related goods in 2025. These activities supported global trade growth of 2.4% in 2025—well above initial forecasts by the World Trade Organization. Global GDP also expanded by 3.2% despite significant po

Makkah, February 16, 2026, SPA — Makkah is witnessing a significant rise in economic activity in anticipation of Ramadan 1447AH. Market footfall, commercial centers, and hotel occupancy are rapidly increasing, highlighting the city’s importance during this religious period. Demand is strong in the retail and food sectors for essential goods, dates, beverages, and seasonal decorations. Traditional and modern markets report vibrant purchasing activity, bolstered by promotional offers. In hospitality, early bookings for hotels near the Grand Mosque have surged. Occupancy rates are expected to rise sharply as Umrah performers and other

Madinah, February 12, 2026, SPA — The 46th AlBaraka Symposium for Islamic Economy concluded after six specialized academic sessions held under the theme “The Righteousness and Benevolence in Islamic Economy: The Future Forward,” with the participation of a select group of scholars, experts, and practitioners from various countries In his closing remarks, AlBaraka Forum for Islamic Economy Secretary-General Yousef Hassan Khalawi emphasized that the symposium provided a solid scholarly platform for dialogue, reflection, and anticipating future developments. He noted that the rich discussions revealed extensive opportunities f

Jizan, February 11, 2026, SPA — European Union (EU) Ambassador to Saudi Arabia Christophe Farnaud on Tuesday visited the Jazan Chamber, where he met with Jazan Chamber Chairman Hamed Al-Hamrani. During the meeting, they reviewed Jazan’s economic strengths and promising investment opportunities across key sectors and discussed prospects for future partnerships to support investments and knowledge exchange, enhancing the region’s business environment The visit reflects the Jazan Chamber’s ongoing efforts to strengthen international relations and expand its strategic partnerships, supporting sustainable economic developm

Buraidah, January 24, 2026, SPA — The 17th Klija Festival in Buraidah concluded yesterday after a 15-day program, recording attendance exceeding 500,000 visitors. More than 340 sales outlets, marketing corners, and points of sale received visitors during the festival, which also provided 1,500 seasonal job opportunities. The event was organized by the Qassim Chamber of Commerce at the King Khalid Cultural Center in Buraidah. Qassim Chamber Secretary-General and festival supervisor Mohammed Al-Hanaya explained that the festival served as an effective economic and marketing platform, bringing together families working in the cottage industr

Aster currently operates 10 hospitals, 113 clinics and 298 pharmacies in the UAE under the Aster and Medcare brands The post Aster DM Healthcare secures Dhs265m financing from EDB for Dubai expansion appeared first on Gulf Business.