Economy

World Bank partners with ADGM Academy to boost financial literacy, economic knowledge

The collaboration will create an environment that equips individuals, businesses, and governments with the skills to thrive in the evolving financial landscape

G20: Crown Prince of Abu Dhabi engages in talks with Presidents of France, Egypt, and South Africa

Yesterday, Sheikh Khaled also engaged in official discussions with Brazilian President Luiz Inácio Lula da Silva

Over 51,000 companies join Dubai Chamber of Commerce in 9M 2024, up 4 percent annually

Chamber reviewed 154 laws and draft laws in cooperation with business groups, resulting in an adoption rate of 46 percent

Ras Al Khaimah Ruler visits China’s Guangdong Province to boost ties in key sectors

The Ras Al Khaimah delegation will sign an agreement that focuses on promoting exchange and cooperation in several areas

G20 summit: UAE allocates $100 million to support alliance against hunger, poverty

Sheikh Khaled highlighted the UAE’s dedication to supporting global initiatives to combat hunger and poverty

UAE sustains role as key regional hub for trade, business, travel: World Bank

This prominence is due to the country's successful economic diversification and reduced reliance on oil 

UAE joins Oman in National Day celebrations

Non-oil trade between the two countries reached AED51 billion last year, up from AED48.7 billion in 2022

Egypt’s inflation remains stable for third month straight, reaches 26.5 percent in October

Annual nationwide headline inflation increased to 26.3 percent in October 2024, up from 26 percent in September 2024

Abu Dhabi Crown Prince Sheikh Khaled meets Brazil president, inks investment partnership

Sheikh Khaled and the President of Brazil highlighted the 50th anniversary of diplomatic relations between the two countries

UAE, Brazil strengthening bilateral relations and collaboration in G20 for global development

The UAE is Brazil's largest Middle Eastern partner, with trade at AED13.28 billion in the first eight months

Lebanon sees $8.5 billion in physical damages, economic losses amid conflict: World Bank

Damages to physical structures alone amount to $3.4 billion while economic losses have reached $5.1 billion

Sheikh Hamdan meets X Corp CEO Linda Yaccarino

X, formerly Twitter, opened its first office in the Middle East and North Africa region in Dubai in 2015

How retailers in UAE, Saudi Arabia are meeting evolving consumer expectations

In the UAE, the market stands at $40 billion, with an anticipated CAGR of 6.5 percent

Elon Musk’s wealth surges by $90 billion in 2024, to head Donald Trump’s department on efficiency

The department will provide advice and guidance from outside the government

UAE economic outlook: OPEC reports strong fiscal performance, rising tax revenues

Tax revenues for Q2 2024 reached $25.9 billion, total revenue amounted to $38.9 billion

Top 5 market highlights to monitor this week

Investors are focusing on upcoming inflation data for clues on how the economy may shift after the election results 

Abu Dhabi’s ascent continues as the ‘Falcon Economy’ soars

Expanding non-oil sectors and thriving financial landscape propel the UAE capital’s growth

DIFC successfully repays $700 million sukuk on schedule

The Sukuk was issued to fund the Centre’s expansion, including Gate Avenue

Dubai’s Q2 2024 GDP rises 3.3 percent to reach $31.6 billion: Sheikh Hamdan

Second-quarter growth brought the total GDP in H1 2024 to AED231 billion, a 3.2 percent rise over the first half of 2023

Global food prices hit 18-month high in October, says FAO

Prices in October rose 5.5 percent annually but remained 20.5 percent below the record high of 160.2 points reached in March 2022

DFM records $10.5 million in major trades on Al Ansari, Ajman Bank

29.1 million shares of Al Ansari were traded for AED28.5 million at AED0.97 each 

UAE’s banking sector net international reserves up 11 percent to $346.58 billion by end July 2024

CBUAE’s gold reserves grew by 23.5 percent YoY, reaching AED21.28 billion by the end of July