Economy

UAE’s net wealth reaches $2.9 trillion in 2023, financial wealth grows 10 percent: Report

The UAE's net wealth, which includes financial wealth, real assets, and liabilities, is set to increase to $4.4 trillion by 2028

Saudi economy grows 64 percent to $1.09 trillion in nominal GDP from 2016 to 2023, says Finance Minister

Al-Jadaan projected a 4.6 percent growth rate for non-oil GDP in Saudi Arabia in 2025 

UAE consumer spending rises to $3.7 billion in Q3 2024: Report

UAE consumer spending in Q3 was driven by back-to-school sales and the growing prominence of convenience retail

Investopia announces 4th edition of annual summit, signs 15 new partnerships

The agreements included one with JC Media Group, the publisher of Economy Middle East

ADGM strengthens global ties with U.S. roadshows

ADGM participates in renowned international events in New York and Washington D.C.

Global advertising spend to surpass $1 trillion for first time this year

Advertisers are likely to spend $299 billion this holiday season, with online platforms such as Amazon set to be the biggest beneficiaries

Gold prices edge up slightly as safe-haven assets gain traction

President-elect Trump threatens new trade tariffs on China, Canada, and Mexico, sparking fears of a trade war

Global Women’s Forum Dubai 2024 highlights importance of nurturing potential of youth

Forum sees extensive engagement from local, regional and international organizations, alongside experts from diverse fields

Saudi Arabia approves FY2025 budget, forecasts $315.2 billion in revenues

The approved state general expenditures amount to SAR1.285 trillion ($342.07 billion)

Abu Dhabi Crown Prince Sheikh Khaled arrives in Bahrain

Discussions will emphasize joint efforts in key sectors, including economic, investment, and developmental fields

What to expect at ADFW 2024: Four days of action-packed sessions and events

The agenda for ADFW 2024 includes over 60 main and side events and more than 350 thematic sessions

UAE’s non-oil economy to grow 4.7 percent in 2024, says UBS

The UAE's real estate sector is expanding, with residential sales up by 60 percent and mortgage applications increasing

UAE, Philippines Presidents boost bilateral cooperation, ink agreements in key sectors

Intra-non-oil trade between the two countries totaled over $1.850 billion in 2022, up from $830.3 million in 2021

Ras Al Khaimah ranks 1st globally in Expat Essentials Index, 2nd in Working Abroad Index

Almost three in four respondents in Ras Al Khaimah find it easy to secure housing, compared to just 45 percent globally

Abu Dhabi Crown Prince to begin official visit to Bahrain on Tuesday

Non-oil trade between the two countries exceeded $7.5 billion in 2023

Abu Dhabi’s ADIO facilitates $653.4 million in public-private partnership deals in four years

World Bank data highlights that PPP investments in developing countries surpassed $83 billion in 2020, despite global economic challenges

S&P upgrades Ras Al Khaimah’s economy to ‘A/A-1’ with stable outlook

Ras Al Khaimah's real GDP growth will average about 4 percent over 2024-2027 on ongoing tourism and infrastructure projects

Saudi Arabia’s entertainment sector to create 450,000 jobs by 2030: Report

The sector reported several record highs in the last five years, including attracting over SAR1 billion in total revenues and over 75 million event attendees

5 reasons the global economy will emerge stronger in 2025

Of the 37 global central banks tracked, 27 are cutting policy rates, including every G10 central bank outside of Japan

UAE President meets Qatar’s Prime Minister to enhance cooperation between nations

Discussions also explored ways to enhance mutual interests and reinforce security and stability in the region

Dubai International Chamber attracts 157 multinational companies, SMEs from Q1 to Q3 of 2024

The Chamber successfully supported 75 local companies expanding into global markets

Sheikh Hamdan bin Mohammed attends Dubai Future Forum 2024

Sheikh Hamdan emphasized Dubai’s standing as a global pathbreaker in designing the future and anticipating emerging trends and opportunities

AED96,000 fine if companies fail to meet Emiratization targets, says MoHRE

Establishments with 50 or more workers must ensure a 2 percent increase in the number of Emirati employees in skilled positions

Dubai Future Forum 2024: World poised for ‘era-defining moments’

The forum kicked off today in its third edition at the Museum of the Future, welcoming over 2,500 experts from 100 countries