Latest news with #HanadiKhalife
Daily Tribune
08-04-2025
- Business
- Daily Tribune
Human Resources Development Fund to Fully Cover ICAEW CFAB Certification for Saudi Nationals
In a major boost to Saudi Arabia's professional development landscape, the Human Resources Development Fund (HRDF) has announced full financial coverage for Saudi nationals pursuing the ICAEW Certificate in Finance, Accounting, and Business (CFAB) —an internationally recognised qualification. The initiative aims to empower Saudi citizens with essential financial and business skills, supporting national efforts toward economic diversification and aligning with the Kingdom's Vision 2030 strategy. Under the programme, eligible Saudi professionals and job seekers across both public and private sectors can receive up to SAR 23,810 per individual, covering the full tuition fees at any ICAEW-authorised learning centre. Notably, there is no cap on the number of beneficiaries. 'This landmark approval from HRDF marks a major step in expanding access to globally recognised financial expertise for Saudi professionals,' said Hanadi Khalife, Head of ICAEW Middle East. 'Removing financial barriers to education enables more aspiring professionals to build successful careers in finance and business, strengthening the Kingdom's talent pipeline.' The ICAEW CFAB qualification covers key areas of business, finance, and accounting, providing learners with the tools to evaluate performance, manage risk, and make informed financial decisions. It is also a gateway to the prestigious ICAEW ACA qualification, one of the top designations in the global accountancy profession. Graduates of the CFAB programme can also apply for the ICAEW Business and Finance Professional (BFP) designation, enhancing their credentials in the competitive finance job market. Saudi nationals interested in enrolling can find detailed eligibility criteria and application instructions on the HRDF website under the "Professional Certificates" section.
Zawya
07-04-2025
- Business
- Zawya
Human Resources Development Fund to fully cover ICAEW CFAB certification for Saudi nationals
Riyadh, Saudi Arabia: Saudi nationals pursuing careers in finance and business will now have full financial support to obtain an internationally recognised qualification, following the approval of complete funding for the ICAEW Certificate in Finance, Accounting, and Business (CFAB) by the Human Resources Development Fund (HRDF). Under the initiative, eligible Saudi citizens can receive up to SAR 23,810 per individual, covering the full tuition fees at any ICAEW authorised learning centre. The funding applies to professionals across both public and private sectors, as well as job seekers, with no cap on the number of beneficiaries. Hanadi Khalife, Head of ICAEW Middle East said: 'This landmark approval from HRDF marks a major step in expanding access to globally recognised financial expertise for Saudi professionals. By making the ICAEW CFAB qualification more accessible, this initiative equips Saudi nationals with the essential financial skills and knowledge needed to contribute to the Kingdom's economic diversification and Vision 2030 goals. Removing financial barriers to education enables more aspiring professionals to build successful careers in finance and business, strengthening the Kingdom's talent pipeline.' The ICAEW CFAB is an internationally recognised certificate that covers core areas of business, finance, and accounting. It is highly valued by organisations worldwide and gives professionals a solid understanding of how businesses operate financially. The qualification helps individuals develop skills to monitor business risks, evaluate performance, and make informed business decisions. The qualification also serves as a stepping stone towards the full ICAEW ACA qualification, one of the most prestigious professional accounting designations globally. Upon completion of ICAEW CFAB, students can also apply for the ICAEW Business and Finance Professional (BFP) designation, further strengthening their professional credentials. Saudi nationals interested in the programme can find more information about eligibility requirements and the application process on the HRDF website under Professional Certificates. For more information about ICAEW CFAB, please visit -Ends- Media enquiries: Layth Kamal, Mojo PR, on email icaew@ About ICAEW Chartered accountants are talented, ethical and committed professionals. ICAEW represents more than 208,000 members and students around the world. Founded in 1880, ICAEW has a long history of serving the public interest and we continue to work with governments, regulators and business leaders globally. And, as a world-leading improvement regulator, we supervise and monitor over 12,000 firms, holding them, and all ICAEW members and students, to the highest standards of professional competency and conduct. We promote inclusivity, diversity and fairness and we give talented professionals the skills and values they need to build resilient businesses, economies and societies, while ensuring our planet's resources are managed sustainably. ICAEW is the first major professional body to be carbon neutral, demonstrating our commitment to tackle climate change and supporting UN Sustainable Development Goal 13. ICAEW is a founding member of Chartered Accountants Worldwide (CAW), a global family that connects over 1.8m chartered accountants and students in more than 190 countries. Together, we support, develop and promote the role of chartered accountants as trusted business leaders, difference makers and advisers. We believe that chartered accountancy can be a force for positive change. By sharing our insight, expertise and understanding we can help to create sustainable economies and a better future for all.
Zawya
19-03-2025
- Business
- Zawya
GCC economy seen growing by 4% in 2025 despite global trade uncertainty
Muscat: The GCC economy is expected to show resilience in the face of rising global protectionism and geopolitical tensions, according to the latest ICAEW Economic Insight report, prepared by Oxford Economics. Despite the uncertain global trade and economic outlook, the report forecasts that GCC economies will grow by 4% in 2025, up from an estimated 1.8% in 2024. While US President Donald Trump's tariff policies have created uncertainty over external demand, the GCC remains largely insulated from direct tariff impacts. The region's non-energy sectors are projected to grow by 4.4% this year, up from an estimated 3.9% in 2024, with regional PMI data firmly in expansionary territory, according to the ICAEW report. GCC growth to withstand tariff headwinds Following recent OPEC+ policy shifts, oil production will gradually increase from April, boosting oil-sector growth to 3.2% after two years of contraction. Saudi Arabia's oil output is expected to reach 9.3mn barrels per day, driving oil sector growth of 1.9%, while the UAE's higher quota of 3.5mn barrels per day will support 4.8% growth. Oil prices have fallen sharply in recent weeks due to tariff threats and increased OPEC+ supply, with prices forecast to average $70.5 per barrel this year, down from $80.5 in 2024. Saudi Arabia and the UAE are expected to lead non-oil sector growth with 5.8% and 4.8%, respectively. Tourism – the fastest-growing sector across the region in 2024 – will remain a key driver of growth, with Saudi Arabia expecting continued expansion, supported by the GCC-wide visa initiative. Qatar's GDP is forecast to expand by 2.1% this year, with growth expected to more than double in 2026 as additional LNG capacity comes online. The non-energy economy is projected to grow by 2.9% this year, remaining the primary growth driver. Bahrain's economy is set to double its growth rate to 2.8% this year, with the non-oil economy expanding by 3.1%. The oil sector, after contracting by an estimated 2.4% in 2024, is expected to see a modest recovery of 0.9%. Hanadi Khalife, Head of Middle East at ICAEW, said, 'The business landscape across the GCC continues to demonstrate resilience and adaptability in the face of global economic uncertainty. We are seeing strong investment in key sectors like tourism and infrastructure, which are creating new opportunities for growth.' Scott Livermore, ICAEW Economic Advisor and Chief Economist and Managing Director at Oxford Economics Middle East, said, 'The GCC's projected 4% growth in 2025 highlights the region's ability to withstand external pressures while advancing its diversification efforts. Despite softer oil prices, the gradual easing of OPEC+ production cuts will support energy sector growth after two years of contraction.' According to the ICAEW report, the aggregate GCC inflation projection for 2025 remains at 2.3%, with inflation expected to stabilise around 2% in the medium term. Recent readings show inflation is below 1% in Bahrain, Oman, and Qatar, while in Saudi Arabia – the region's largest economy – inflation averaged 1.7% in 2024, driven almost exclusively by rising housing rents. Regional budgets this year continue to balance fiscal discipline with sustainable economic growth, with a strong focus on social development, including education and healthcare. 'Given our oil price and production forecasts, and expectations of a modest rise in government spending, we anticipate the aggregate GCC budget position will be broadly balanced, thanks to surpluses in Qatar and the UAE,' ICAEW said. Meanwhile, the report expects Saudi Arabia to run a budget deficit of 3% of GDP as the government pursues strategic investments. © Apex Press and Publishing Provided by SyndiGate Media Inc. (
Khaleej Times
18-03-2025
- Business
- Khaleej Times
UAE economy expected to expand at 4.8% this year on trade, tourism
The UAE economy is expected to grow at 4.8 per cent this year, a report showed on Tuesday. According to the latest ICAEW Economic Insight report prepared by Oxford Economics, trade and tourism are likely to be the key drivers of the UAE's growth story. 'We remain confident the tourism industry – the fastest-growing sector across the region in 2024 – will remain a vital engine for growth and diversification efforts. Trade will also continue to be a key growth driver, especially in the UAE, which has recently broadened market access and fostered collaboration through several more comprehensive economic partnership agreements. The UAE's foreign trade reached a milestone in 2024, surpassing Dh3 trillion for the first time,' the report said. Increased oil production quotas from the Organisation of Petroleum Exporting Countries and its allies, colelctively known as Opec+, are also expected to boost the economy. 'The UAE will benefit from a higher production quota of 3.5 million bpd, supporting oil sector growth of 4.8 per cent. We think growth in the GCC oil sectors will pick up more strongly in 2026 as countries continue to raise supply,' the report said. According to S&P Global Ratings, the oil sector will support the UAE's growth in 2025 and 2026. Total growth (oil and non-oil) is expected at 5.0 per cent in 2025 and 4.9 per cent in 2026, the ratings agency said on Tuesday. Average consumer price inflation is likely remain to stable at 1.9 per cent in 2025. 'Pausing monetary policy is balancing strong domestic demand. Momentum will likely be retained in 2025 as demand for services — tourism, trade and finance — remains strong,' S&P analysts wrote. Despite the uncertain global outlook, the report forecasts GCC economies to grow by 4 per cent, up from an estimated 1.8 per cent in 2024. The economy of the wider Middle East is expected to grow at 3.3 per cent in 2025. While US President Donald Trump's tariff policies have created uncertainty over external demand, the GCC remains largely sheltered from direct tariff impacts, the report noted. 'The region's non-energy sectors are projected to grow by 4.4 per cent this year, up from an estimated 3.9 per cent in 2024, with regional PMI data firmly in expansionary territory,' the report said. Saudi Arabia's, oil output is expected to reach 9.3 million barrels per day, driving oil sector growth of 1.9 per cent, while its GDP is expected to expand by 5.8 per cent. Oil prices have fallen sharply in recent weeks due to tariff threats and increased Opec+ supply, with prices forecast to average $70.5 per barrel this year, down from $80.5 in 2024. Saudi Arabia and the UAE are expected to lead non-oil sector growth with 5.8 per cent and 4.8 per cent respectively. Tourism – the fastest-growing sector across the region in 2024 – will remain a vital engine for growth, with Saudi Arabia expecting continued expansion supported by the GCC-wide visa. Hanadi Khalife, head of Middle East, ICAEW, said: 'The business landscape across the GCC continues to demonstrate resilience and adaptability in the face of global economic uncertainty. We're seeing strong investment in key sectors like tourism and infrastructure, which are creating new opportunities for growth.' Scott Livermore, ICAEW economic adviser and chief economist and managing director, Oxford Economics Middle East, said: 'The GCC's projected 4 per cent growth in 2025 highlights the region's ability to withstand external pressures while advancing its diversification efforts. Despite softer oil prices, the gradual easing of OPEC+ production cuts will support energy sector growth after two years of contraction.' Qatar's GDP is forecast to expand by 2.1 per cent this year, with growth expected to more than double in 2026 as additional LNG capacity comes online. The non-energy economy is projected to grow by 2.9 per cent this year, remaining the primary growth engine. Tourism has provided significant support to Qatar's non-energy growth, with overnight arrivals reaching 5 million by end-2024, a 23 per cent increase on 2023. The launch of the pan-GCC visa, is expected to push visitor numbers to 5.3 million in 2025. The fiscal surplus is forecast at 27.3 billion Qatari riyals (3.3 per cent of GDP) in 2025, significantly better than the deficit of 13.2 billion riyals pencilled into this year's budget. Bahrain's economy is set to double its growth rate to 2.8 per cent this year, with the non-oil economy expanding by 3.1 per cent. The oil sector, after contracting by an estimated 2.4 per cent in 2024, is expected to see a modest 0.9 per cent recovery. As part of its diversification efforts, Bahrain is establishing new industrial free zones and developing tourism infrastructure, including a $427 million waterfront project. However, persistent budget deficits and a rising debt burden above 100 per cent of GDP pose downside risks to growth.
Trade Arabia
18-03-2025
- Business
- Trade Arabia
GCC economy to stay strong amid uncertain global outlook
The GCC economy is expected to show resilience in the face of rising global protectionism and geopolitical tensions, according to the latest ICAEW Economic Insight report prepared by Oxford Economics. Despite the uncertain global outlook, the report forecasts Middle East GDP growth of 3.3% in 2025, with GCC economies set to grow by 4%, up from an estimated 1.8% in 2024. While President Trump's tariff policies have created uncertainty over external demand, the GCC remains largely sheltered from direct tariff impacts. The region's non-energy sectors are projected to grow by 4.4% this year, up from an estimated 3.9% in 2024, with regional PMI data firmly in expansionary territory. Following recent Opec+ policy shifts, oil production will gradually increase from April, boosting oil-sector growth to 3.2% after two years of contraction. Saudi Arabia's, oil output is expected to reach 9.3 million barrels per day, driving oil sector growth of 1.9%, while the UAE's higher quota of 3.5 million barrels per day will support 4.8% growth. Oil prices have fallen sharply in recent weeks due to tariff threats and increased OPEC+ supply, with prices forecast to average $70.5 per barrel this year, down from $80.5 in 2024. Saudi Arabia and the UAE are expected to lead non-oil sector growth with 5.8% and 4.8% respectively. Tourism – the fastest-growing sector across the region in 2024 – will remain a vital engine for growth, with Saudi Arabia expecting continued expansion supported by the GCC-wide visa. Qatar's GDP is forecast to expand by 2.1% this year, with growth expected to more than double in 2026 as additional LNG capacity comes online. The non-energy economy is projected to grow by 2.9% this year, remaining the primary growth engine. Tourism has provided significant support to Qatar's non-energy growth, with overnight arrivals reaching 5 million by end-2024, a 23% increase on 2023. The launch of the pan-GCC visa, is expected to push visitor numbers to 5.3 million in 2025. The fiscal surplus is forecast at QAR27.3bn (3.3% of GDP) in 2025, significantly better than the deficit of QAR13.2 billion pencilled into this year's budget. Bahrain: The non-oil economy will continue to lead growth Bahrain's economy is set to double its growth rate to 2.8% this year, with the non-oil economy expanding by 3.1%. The oil sector, after contracting by an estimated 2.4% in 2024, is expected to see a modest 0.9% recovery. As part of its diversification efforts, Bahrain is establishing new industrial free zones and developing tourism infrastructure, including a $427 million waterfront project. However, persistent budget deficits and a rising debt burden above 100% of GDP pose downside risks to growth. Hanadi Khalife, Head of Middle East, ICAEW, said: 'The business landscape across the GCC continues to demonstrate resilience and adaptability in the face of global economic uncertainty. We're seeing strong investment in key sectors like tourism and infrastructure, which are creating new opportunities for growth.' Scott Livermore, ICAEW Economic Advisor, and Chief Economist and Managing Director, Oxford Economics Middle East, said: 'The GCC's projected 4% growth in 2025 highlights the region's ability to withstand external pressures while advancing its diversification efforts. Despite softer oil prices, the gradual easing of OPEC+ production cuts will support energy sector growth after two years of contraction.' -
