Economy

Abu Dhabi’s Masdar expands clean energy to 31.5 GW, generating 26,700 GWh and avoiding 14 million tons of CO2e

This is up from 10 million tons last year, equivalent to removing nearly 870,000 vehicles 

Egypt’s external debt falls by $15 billion in six-month period, says PM Madbouly

Egypt's external debt stood at $168 billion in December 2023 and fell to $152.8 billion by last June

Double-digit growth for air cargo continues: IATA

Overall demand, measured by CTKs, increased by 11.4 percent in August 2023, with international operations up 12.4 percent 

$1.1 billion available for investment, funding requests from member countries: World Green Economy Organization

Funds are sourced from private sector investors and organizations eager to invest in green economy projects

Dubai’s Parkin announces first interim dividend of $54.1 million

Cash dividend will be paid to shareholders at the end of October

DoH – Abu Dhabi, Ma’an raise over $4 million for Abu Dhabi health Research and Innovation Grant

This initiative supports DoH’s mission to transform the regional healthcare landscape through science and technology 

UAE, global gold prices rise on safe-haven demand as U.S. payrolls data in focus

The dollar fell 0.1 percent from a month-long high, making gold priced in dollars more affordable for foreign buyers 

Oil prices remain stable as investors assess Middle East tensions, global supply dynamics

Brent crude futures fell by 8 cents, or 0.1 percent, settling at $77.54 a barrel

Expo City Dubai to have five key districts as Sheikh Mohammed approves master plan

Expo City Dubai will be home to more than 35,000 residents and 40,000 professionals

Dubai remains top city for attracting greenfield FDI for third straight year: Sheikh Hamdan

Dubai secures 6.2 percent global share of greenfield FDI projects from January to June 2024

UAE’s DMCC, CV VC collaborate to enhance regional Web3 ecosystem growth

Both organizations will enhance their ecosystems through collaboration, including workshops, resource sharing, and joint events 

Etihad, DCT Abu Dhabi ‘stopover’ initiative sees 242 percent surge in travelers

The initiative's relaunch has surpassed expectations and significantly boosted the emirate's tourism industry

UAE’s Etihad Rail launches new corporate identity with revamped logo, strategic vision

The new logo design draws inspiration from the falcon’s eye, the silhouette of a train, and the railway track

Emirates makes touchdown to Lagos, Nigeria

The daily service is strategically scheduled to optimize connections to key locations, enhancing business and leisure travel to and from Nigeria

Business levels in UAE’s non-oil sector surge in September on stronger export sales: PMI

Dubai's PMI signaled a robust expansion in business conditions across the non-oil private sector last month

WEF introduces innovative digital platform to boost clean energy investments in emerging markets

The platform outlines 100 policy measures, financial mechanisms, and de-risking strategies from the past two decades

ADX records 15 major deals on ADNOC Gas and Modon valued at $724.2 million

The first transaction involved 505.8 million shares of Modon Holding for AED2.44 billion across six deals at AED4.83 per share 

National Economic Registry: Procedures to establish a business in the UAE unified on one national portal

Platform connects 46 entities across the UAE using the unified economic number to integrate data between federal and local government bodies

UAE President, Sheikh Mohammed bin Rashid meet to discuss strategies for enhancing national welfare and development 

The leaders discussed the UAE's development and strategies for national growth and prosperity

Oil prices surge amid fears of Middle East conflict disrupting crude shipments

Brent crude futures climbed by 80 cents, or 1.08 percent, reaching $74.70 a barrel

UAE insurance sector profits reach $680.6 million in 2023, reports CBUAE

The total number of insurance policies written across all types in the UAE surged to 14.6 million 

$19.55 billion of Islamic bonds, sukuk listings on Abu Dhabi market: UAE’s SCA

The listings comprise 10 conventional tranches and 6 additional issues categorized as green bonds and sukuk focused on sustainability 

Abu Dhabi sets new mortgage records in Q3 with $3.67 billion in 2,594 transactions 

This represents the highest quarterly volume seen in recent years

Dubai’s RTA implements major traffic upgrades to enhance road efficiency near 37 schools

These enhancements prioritize safety for all road users in Dubai, including staff, bus drivers, and families