economy

Muslims Worldwide Spent US$244B on Apparel in 2015

08/05/2017

Dubai – “ASWAQ” Muslims around the world are reported to have spent an estimated US$244 billion in 2015 on apparel, accounting for 13.56 per cent of the global Muslim consumer spending of US$1.8 trillion. Spending by the Muslim population on apparel is expected to increase to US$322 billion by 2018, with the Islamic economy growing […]

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World Bank cuts GCC growth forecast

03/05/2017

Dubai – “ASWAQ” The World Bank reduces its 2016 growth forecast for the GCC nations recently to two per cent amid low oil prices and budgetary spending cutbacks. The UAE is also said to be growing at a slower pace than predicted earlier. The GCC’s dimmer outlook was predicted as the bank downgraded its global […]

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Middle East gets new US$1b Online Shopping Platform

03/05/2017

Dubai – “ASWAQ” A new online retailer, Noon.com has recently been launched in the Middle East, with the aim of increasing online sales growth in the Middle East from 2 per cent of the total market (US$3 billion) to 15 per cent (US$70 billion) within a decade, as announced by Emaar Properties chairman Mohamed Alabbar. […]

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DUBAI, KAZAKHSTAN SIGNED MoU TO PROMOTE ISLAMIC ECONOMY

27/04/2017

Dubai – “ASWAQ” The Dubai Islamic Economy Development Centre (DIEDC) has recently signed a memorandum of understanding (MoU) with the Astana International Financial Centre (AIFC) to exchange expertise in the field of Islamic economy and finance, halal industry and human capital development. The MoU, signed by Sultan bin Saeed Al Mansouri, UAE Minister of Economy […]

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Dubai remains big attraction for GCC investors

27/04/2017

Dubai – “ASWAQ” Dubai’s residential property market is still attractive to the Gulf Cooperation Council (GCC) investors despite the regional economic concerns, says Artar Real Estate Development, a Saudi Arabian developer establishing itself in the UAE property market. Dubai residential property is still seen as providing long-term financial security as the Dubai market is experiencing […]

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SMEs major contributors to Qatar’s economy

16/02/2017

Dubai – “ASWAQ” Small and medium enterprises are well known to be major contributors to any country’s economy, said the Deputy Prime Minister and Minister of State for Cabinet Affairs, H E Ahmed bin Abdullah bin Zaid Al Mahmoud who recently opened Qatar Chamber’s Second SMEs Conference, held under the auspices of Prime Minister and […]

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DUBAI, KAZAKHSTAN SIGNED MoU TO PROMOTE ISLAMIC ECONOMY

15/02/2017

Dubai – “ASWAQ” The Dubai Islamic Economy Development Centre (DIEDC) has recently signed a memorandum of understanding (MoU) with the Astana International Financial Centre (AIFC) to exchange expertise in the field of Islamic economy and finance, halal industry and human capital development. The MoU, signed by Sultan bin Saeed Al Mansouri, UAE Minister of Economy […]

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GCC PREPARES FOR BUDGETARY CUTS

13/02/2017

Dubai – “ASWAQ” GCC states are expected to make substantial budgetary cuts from 30 per cent upwards in order to maintain balanced budgets, regardless of signs of a gradual recovery in oil prices following the recent agreement among oil exporters to reduce output. With the substantial budgetary cuts all GCC countries are projected to record […]

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SAUDI ARABIA OPTS FOR PRIVATIZATION

11/02/2017

Dubai – “ASWAQ” Saudi Arabia plans to involve the private sector under its Vision 2030 reform plan, said the Minister of Energy, Industry and Mineral Resources Khalid Al-Falih to the recent World Economic Forum. Vision 2030 calls for development of non-oil industries, small and medium enterprises, and a broader investment base. It targets to make […]

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Dubai remains big attraction for GCC investors

09/02/2017

Dubai – “ASWAQ” Dubai’s residential property market is still attractive to the Gulf Cooperation Council (GCC) investors despite the regional economic concerns, says Artar Real Estate Development, a Saudi Arabian developer establishing itself in the UAE property market. Dubai residential property is still seen as providing long-term financial security as the Dubai market is experiencing […]

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