Economy

Sheikh Mohammed meets HSBC Holdings group chairman, discusses strengthening financial partnerships

The meeting further addressed Dubai's infrastructure upgrades, reinforcing its role as an investment hub and trade link

She’s Next: Visa’s empowering program for female entrepreneurs

Meet the innovating and inspiring winners from the GCC region

Oil prices decline as Libya and OPEC+ boost output, while China’s stimulus offers support

Brent crude futures decreased by 20 cents, or 0.28 percent, settling at $71.40 per barrel

Saudi Arabia engaging in high-level discussions with SpaceX to boost space exploration, infrastructure development

The meeting is part of the Kingdom's ongoing initiatives to advance its space sector and improve infrastructure

Abu Dhabi awards oil and gas exploration concession to Malaysia’s Petronas

The company was awarded exploration concession for Onshore Block 2 in Abu Dhabi

Gross written premiums rise 31.2 percent YoY in H1 2024 to $9.7 billion, reports UAE Central Bank

This increase was primarily driven by significant rises in property and liability insurance premiums

Sheikh Mohammed bin Rashid issues Decree on the Board of Dubai Multi Commodities Centre Authority

According to the Decree, Abdul Wahed Abdul Rahim Al Olama will take on the role of Vice Chairman of the Board

Dubai Maritime City boosts ship handling capacity to 1,000 vessels, solidifying hub status

DMC's upgraded lifts for 6,000 and 3,000 tons double capacity to 1,000 vessels annually

UAE, New Zealand sign CEPA agreement to reduce tariffs, enhance trade and investment flows

Bilateral non-oil trade between the two countries reached $460.3 million in H1 2024, an 11.5 percent annual increase

‘Invest in the Emirates’ campaign goes global, seeks to generate over 200 million impressions

Campaign’s reach also extended to major airports in Zurich, Geneva, Munich, New York and Heathrow

EtihadWE, Khalifa University join forces to enhance desalination and resource efficiency in the UAE

The agreement seeks to explore and evaluate advanced membrane technologies and improve water quality

UAE airports soar with 14.2 percent rise to 71.7 million passengers in H1 2024

This is compared to 62.8 million during the same timeframe last year

UAE Central Bank raises country’s GDP growth forecast for 2024 to 4 percent, 6 percent for 2025

Growth in 2025 will be fueled by strong non-hydrocarbon momentum and a rise in hydrocarbon production 

Sheikh Mohammed bin Rashid issues Decree on the Board of Dubai Health

This board will be chaired by Sheikh Ahmed bin Saeed Al Maktoum

Oil prices steady amid Libyan production hopes, strong U.S. demand

Brent oil futures for November rose by 0.1 percent to $73.51 per barrel

UAE President Sheikh Mohamed, former U.S. President Bush review historical bilateral ties

Sheikh Mohamed reaffirmed the two countries' commitment to promoting security, stability, and peace, both in the region and globally

Sheikh Mohamed strengthens UAE-U.S. relations through key dialogues with U.S. senators on shared interests, global challenges

Key focus areas included the economy, trade, climate action, AI, renewable energy, and sustainability

Have a unique business idea? Dubai Airport Freezone and Red Bull will give it wings

Teams from over 40 countries will engage with thought leaders, entrepreneurs and visionaries from around the world

81 percent of new renewables cheaper than fossil fuels, saving $409 billion since 2000: IRENA

Solar PV costs plummet to 4 cents per kWh, 56 percent lower than fossil fuels

Dubai Courts, Dubai Chambers sign MoU to strengthen emirate’s role as global commercial dispute resolution hub

This agreement aims to create initiatives that resolve commercial disputes through mediation and conciliation 

China launches biggest stimulus since the pandemic to revive weakening economy

The central bank also announced a support package that included a 50-basis-point reduction on average interest rates for existing mortgages

SMEs in Oman’s reach over 141,000 in June 2024

The number of micro enterprises exceeded 120,000, while the number of small enterprises crossed 19,000