Economy

UAE’s AI firm G42 to reveal ‘Intelligence Grid’ at GITEX 2024

The grid aims to establish a new benchmark for scalable AI solutions across essential sectors such as government, healthcare, and energy

UAE-Oman Hafeet Rail project signs $1.5 billion bank financing deals

A single freight train journey is expected to transport over 15,000 tons of cargo, equivalent to about 270 standard containers 

ADNOC Gas leverages 3D printing for 3,500 components, aiming for $50 million in savings by 2028

The adoption of 3D printing offers a sophisticated digital solution for quickly producing high-quality components 

Expand North Star 2024: Dubai Chamber of Digital Economy highlights competitive advantages of emirate’s digital business ecosystem 

The chamber will showcase the top facilities and infrastructure in the emirate for supporting digital startups

Oil prices rise after two-day decline amid Middle East tensions, expected Chinese stimulus

Brent crude futures for December delivery climbed 0.4 percent to $76.89 a barrel

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