Economy

UAE maintains leadership in global labor market competitiveness indicators

The country secured the top position globally in four key indicators from the Institute for Management Development World Competitiveness Yearbook 2024

Dubai’s DMCC reports 11 percent growth in Turkish companies as UAE-Türkiye trade surges

In the first half of 2024, trade between the two countries rose by 15 percent, following a surge of 107 percent in 2023

Seamless Saudi Arabia 2024: 7X showcases logistics, financial solutions

7X is also actively exploring opportunities for collaboration and market expansion in the Kingdom

UAE’s real GDP expected to expand by 5.1 percent in 2025, according to IMF

Globally, growth is expected to remain stable but lackluster, with projections of 3.2 percent for both 2024 and 2025 

Sheikh Mohammed bin Rashid meets local investors, businessmen at Zabeel Palace

Sheikh Mohammed engaged with attendees on a range of topics related to Dubai’s development journey

Oil prices decline amid rising U.S. inventories, ongoing Middle East tensions

Brent crude futures for December fell 0.4 percent, settling at $75.75 per barre

Finance House to invest $81.67 million in Abu Dhabi capital market

This collaboration seeks to enhance market liquidity and financial stability, aligning with the ADX’s vision 

Sharjah Chamber hosts Japanese delegation, discusses enhancing economic cooperation

The Chamber seeks to boost knowledge exchange and collaboration between investors from both nations

Sheikh Hamdan launches Ignyte digital platform to accelerate over 100,000 startups

Ignyte connects startups and founders with investors, mentors, corporate organizations and governments entities

Abu Dhabi, Dubai crowned top cities for expats’ ease of entry globally

Dubai, Abu Dhabi, Riyadh, and Dammam demonstrated adaptability in the face of global economic and geopolitical challenges

RAKEZ strengthens ties with Canada as bilateral trade exceeds $2 billion

A key highlight of a recent roadshow was an exclusive event in collaboration with the Canada India Foundation in Toronto

Oil prices slide amid Middle East tensions, Chinese demand concerns

Brent crude futures for December delivery fell by 19 cents, or 0.3 percent, settling at $74.10 a barrel

UAE, Russia presidents discuss strategic partnership in key sectors at Moscow meeting

Presidents reviewed progress in UAE-Russia relations in the areas of economy, trade, investment, space and energy

UAE President Sheikh Mohamed arrives in Moscow on official visit

Sheikh Mohamed will hold talks with Vladimir Putin, President of Russia, and also attend the BRICS summit

Sharjah Islamic Bank profit before tax up 29 percent to $270.1 million for nine months ending September

The bank is diversifying its financing portfolio, with total customer financing at AED36.6 billion

UAE’s PMO formalizes agreements to enhance strategic intelligence for We the UAE 2031

New platform to leverage AI and insights from 2,500 experts and 450 data sources to create government strategies

U.S.-UAE Business Council delegation visits Ras Al Khaimah to discuss growing trade, cooperation

Meeting explored ways to further strengthen cooperation and strategic partnerships across key sectors

Gitex Global 2024: Ajman Investment Platform launched to promote investment opportunities

The platform seeks to enhance the competitive business landscape and increase productivity in line with Ajman Vision 2030

UAE explores business, investment ties in Uzbekistan as bilateral trade hits $1.9 billion

More than 320 Emirati-owned companies operate in Uzbekistan, including over 120 joint ventures

Lagarde signals shift in ECB strategy with third rate cut in 2024

This marks the first consecutive rate reduction in 13 years

Central Bank of Egypt holds key interest rates steady amid inflation control, mixed economic indicators

The committee noted that this decision reflects recent global and local developments

Oil prices steady amid mixed economic signals from China, strong U.S. retail sales data

Brent crude futures had risen by 8 cents, or 0.1 percent, to $74.53 a barrel