Economy

Bank of England maintains 4.75 percent interest rate, hints at future gradual cuts

The Bank indicated that the economy underperformed, reporting no growth from October to December

Abu Dhabi Investment Authority joins elite club with $1 trillion in assets, ranks 4th globally

Sovereign wealth funds from Kuwait, Saudi Arabia and Qatar also rank among the top 10

Global M&A deal value poised to hit $3.5 trillion in 2024: Report

This marks a 15 percent increase from the previous year and aligning with levels seen in the mid-2010s

Emir of Qatar approves 2025 budget with $57 billion in total expenditure

Allotment for the healthcare and education sectors constitute QAR 41.4 billion ($11.23 billion), representing 20 percent of the total budget

Saudi Arabia excels at navigating labor market challenges, new report finds

The Kingdom is committed to workforce development under Vision 2030, emphasizing diversification, job creation, and competitiveness

ADFW 2024: Firms with $635 billion in AUM sign 19 deals

This builds on the $450 billion in commitments during last year’s ADFW

Dubai DET, IHG Hotels & Resorts partner for joint marketing and training initiatives

Both organizations will develop tourism products highlighting Dubai's unique attractions, like cultural tours and seasonal packages

Gold reserves at CBUAE surpass $6.3 billion in Q3 2024

Reserves grew month-on-month by $316.9 million

US Federal Reserve cuts interest rates by quarter point amid cooling inflation

Fed policymakers projected they will cut their benchmark rate by a quarter-point just twice in 2025

Sheikh Mohammed issues new law, decrees, expands Dubai Media Council

Two new offices, Dubai Films and Games Commission and Dubai Media Permits Office, will be set up

UAE launches unified numbers project to enhance data utilization in policy-making

The initiative provides accurate data on GDP, inflation, foreign investment, and infrastructure rankings 

Qatar National Day: UAE President sends greetings

In 2023, non-oil foreign trade between the UAE and Qatar saw an 18.3 percent growth

UAE payments revenue to reach $27.3 billion by 2028: Report

Despite global slowdowns, the UAE leads the GCC, fueled by digital transformation and financial investments 

UAE GDP to grow by 5 percent in 2025: Report

Meanwhile, consumer spending is predicted to rise by 4.3 percent, and consumer price inflation is likely to reach 2.3 percent

ADGM to launch mobile app for an all-in-one business and lifestyle experience

In collaboration with Hub71, ADIO, Aldar Properties, The Galleria, and Numou

Economy Middle East and ADGM sign MoU announcing return of Economy Middle East Summit in 2025

Building on the inaugural summit's success, this partnership aims to strengthen the UAE's role as a global economic and innovation hub

UAE ranks first globally in 223 competitiveness indicators

The UAE was among the top five countries globally in 444 indicators, compared to 406 in 2023

Economic Content Creators Programme launched in Dubai

UAE Minister of Economy leads a session at the start of the first phase of the Dubai Content Creators Programme

Exploring the impact of $6.3 billion investment: ADFD’s 33 development projects in Bahrain

Since 1974, ADFD has been crucial in advancing Bahrain's economy and social development 

UAE celebrates Bahrain National Day, highlights decades-long historical ties

Non-oil trade between the two countries reached AED15.3 billion during the first half of 2024

Saudi Arabia’s inflation rate hits 2 percent in November 2024, lowest in G20

CPI illustrates fluctuations in prices that consumers pay for a predetermined basket of goods and services, which includes 490 distinct items

How the creative economy drives growth in the Middle East

In the UAE, a global creative hub, Dubai Media City is home to a talent pool of over 40,500 creative professionals

Abu Dhabi International Arbitration Center: Advocating efficiency, confidentiality, and transparency

How tapping top-tier arbitrators and embracing cutting-edge technology positions arbitrateAD as a global leader in dispute resolution