Economy

UAE drives regional economic growth: Insights from LSE Deputy CEO

The country has successfully completed 37 bond issues amounting to a total of $18.51 billion 

Abu Dhabi Commercial Bank announces H1 2024 net profit after tax of $1.2 billion

Customer deposits in current and savings accounts totaled AED169 billion by the end of September 2024 

UAE named Middle East’s hub for women in business

87 percent of women leaders have made changes to be more inclusive of women in managerial positions

Dubai reveals #ZayedAndRashid campaign: A celebration of national unity, cultural heritage across emirates

The campaign coincides with UAE Flag Day and 53rd Eid Al Etihad celebrations

Islamic treasury bonds auction for October 2024 attracts $1.96 billion in bids

The auction attracted interest from eight primary dealers for both tranches maturing in May 2027 and September 2029

UAE President engages with world leaders on trade and development at BRICS Summit

The summit, which runs until October 24, is themed 'Strengthening Multilateralism for Equitable Global Development and Security,’

Dubai’s aviation sector to create 185,000 jobs by 2030

The aviation sector supported 27 percent of Dubai’s GDP in 2023, with an economic contribution of AED137 billion

Oil prices rise amid Middle East tensions and U.S. election uncertainty, recovering previous losses

Brent crude futures increased by 95 cents, or 1.27 percent, reaching $75.91

UAE, Rajasthan sign investment agreement to pursue 60 GW renewable energy project in India

Both nations have set ambitious clean energy targets in recent years

UAE President Sheikh Mohamed attends 16th BRICS Summit in Kazan, Russia

Extending until October 24, the 16th BRICS Summit will focus on key issues including financing, technology, food trade and expanding the union’s membership

UAE maintains leadership in global labor market competitiveness indicators

The country secured the top position globally in four key indicators from the Institute for Management Development World Competitiveness Yearbook 2024

Dubai’s DMCC reports 11 percent growth in Turkish companies as UAE-Türkiye trade surges

In the first half of 2024, trade between the two countries rose by 15 percent, following a surge of 107 percent in 2023

Seamless Saudi Arabia 2024: 7X showcases logistics, financial solutions

7X is also actively exploring opportunities for collaboration and market expansion in the Kingdom

UAE’s real GDP expected to expand by 5.1 percent in 2025, according to IMF

Globally, growth is expected to remain stable but lackluster, with projections of 3.2 percent for both 2024 and 2025 

Sheikh Mohammed bin Rashid meets local investors, businessmen at Zabeel Palace

Sheikh Mohammed engaged with attendees on a range of topics related to Dubai’s development journey

Oil prices decline amid rising U.S. inventories, ongoing Middle East tensions

Brent crude futures for December fell 0.4 percent, settling at $75.75 per barre

Finance House to invest $81.67 million in Abu Dhabi capital market

This collaboration seeks to enhance market liquidity and financial stability, aligning with the ADX’s vision 

Sharjah Chamber hosts Japanese delegation, discusses enhancing economic cooperation

The Chamber seeks to boost knowledge exchange and collaboration between investors from both nations

Sheikh Hamdan launches Ignyte digital platform to accelerate over 100,000 startups

Ignyte connects startups and founders with investors, mentors, corporate organizations and governments entities

Abu Dhabi, Dubai crowned top cities for expats’ ease of entry globally

Dubai, Abu Dhabi, Riyadh, and Dammam demonstrated adaptability in the face of global economic and geopolitical challenges

RAKEZ strengthens ties with Canada as bilateral trade exceeds $2 billion

A key highlight of a recent roadshow was an exclusive event in collaboration with the Canada India Foundation in Toronto

Oil prices slide amid Middle East tensions, Chinese demand concerns

Brent crude futures for December delivery fell by 19 cents, or 0.3 percent, settling at $74.10 a barrel

UAE, Russia presidents discuss strategic partnership in key sectors at Moscow meeting

Presidents reviewed progress in UAE-Russia relations in the areas of economy, trade, investment, space and energy