Economy

How technology is increasingly powering the global economy

Productivity, trade and income distribution heavily influenced by technological advances

What’s next for the UAE? Strategies powering a new era

The United Arab Emirates undertakes a multifaceted approach to building a resilient, innovative future

Ratan Tata dies at 86: An overview of his journey and success at Tata Group

Ratan Tata was appointed chairman of Tata Sons in March 1991

Dubai’s Empower signs agreement with Mitsubishi Heavy Industries to supply 100,000 RT chillers

The contract includes 18 energy-efficient water-cooled chillers with a total capacity of 56,250 RT, set for delivery in 2025

Dubai’s dnata secures multi-year catering deal with T’way Air in Rome to supply 80,000 meals annually

T’way Air will operate three weekly flights connecting the Italian capital with South Korea 

UAE completes GCC railway commitments, ready to boost regional connectivity, says GCC Secretary-General

Al Budaiwi praised the UAE's key role in major national projects and the Gulf Railway initiative

QatarEnergy signs 20-year naphtha deal with Shell to deliver 18 million tons starting April 2025

QatarEnergy and Shell have a strong alliance with multiple joint investments in the energy sector, both in Qatar and globally

Italy’s Raccortubi S.p.A invests $6.8 million in Sharjah’s Hamriyah Free Zone

This investment highlights Hamriyah Free Zone's effort to attract diverse foreign investments 

UAE committed to enhancing global trade system through strategic agreements, investments in key sectors: WTO

WTO’s Johanna Hill noted that "the UAE is playing an incredible role in world trade” 

Saudi Arabia-Egypt trade exchange surges 41 percent to $8 billion in H1 2024

Egyptian investments in Saudi Arabia amounted to around $4 billion, involving more than 3,000 companies

Saudi Arabia’s NEOM to build $186.4 million concrete factory for The Line

This advanced concrete facility will use carbon capture and energy-efficient solutions to support THE LINE's construction 

UAE’s 2025 federal budget reiterates commitment to long-term sustainable development, says Sheikh Maktoum

UAE allocated 39 percent of the total budget to social development and pensions to drive drive economic and social progress

Sheikh Hamdan bin Mohammed concludes official visit to Kuwait

The discussions highlighted the significant advancements in cooperation, bolstered by the leadership of both nations

Oil prices rebound as market reacts to U.S. inventory surge, Middle East tensions ease

Brent crude futures for December delivery climbed 0.6 percent to $77.63 per barrel

Abu Dhabi’s Modon Holding, U.K. Candy Capital announce JV partnership in ultra-luxury real estate

The joint venture will deliver upscale residential, commercial, and hospitality projects

ADX launches Abu Dhabi-wide program to boost financial, investment education

The financial education program includes a series of workshops organized in collaboration with ADX member firms

UAE, South Korea enhance collaboration in public oversight and integrity

In May 2024, the UAE and South Korea announced a CEPA to promote free trade and bilateral investment in key sectors 

Dubai International Chamber holds 180 business meetings in Belgrade to promote Dubai-Serbia ties

Non-oil trade between Dubai and Serbia reached $63.68 million in 2023

Abu Dhabi tops Global SWF charts with $1.7 trillion in assets under sovereign wealth fund management

The top six cities manage two-thirds of sovereign wealth fund capital globally, which amounted to $12.5 trillion in October

Dubai’s Financial Audit Authority to reveal 3 new digital services at GITEX 2024

One key service is the Al Mo’ashir Dashboard, a platform that provides insights from the Authority’s auditing data 

UAE Cabinet approves $19.5 billion federal budget for 2025, largest in country’s history

AED27.859 billion, or 39 percent of the total budget, has been dedicated to the social development and pensions sector

ADNEC Group’s Tourism 365 launches first charter flight from Uzbekistan to Al Ain

This initiative is part of Tourism 365's partnership with EasyBooking to boost tourism and enhance connectivity