Economy

MBRHE partners with Microsoft to drive digital transformation, cloud computing initiatives for Dubai’s residents

The two entities will collaborate to organize workshops and training programs to develop digital skills among MBRHE employees

DMCC strengthens economic ties as over 500 Italian companies join Dubai’s premier free zone

DMCC's recent engagement with Italy follows an increase in bilateral trade, which surpassed $9 billion in 2023

Mastercard, Amazon Payment Services to enable digital payment acceptance across Middle East and Africa

The payment service provider will use Mastercard Gateway for quick, seamless, and secure transactions in the region

UAE President directs $100 million in urgent relief for Lebanon

This initiative showcases the UAE's ongoing commitment to supporting Lebanon during its hardships

Saudi Arabia sees 656 percent surge in leisure tourists, welcoming 4.2 million in early 2024

The Kingdom welcomed 17.5 million international tourists from January to July 2024

Oil prices rise amid Middle East tensions, upcoming Fed insights on monetary policy

Brent crude futures for November delivery rose by 51 cents, or 0.71 percent, reaching $72.49 a barrel

Sheikh Hamdan meets Prime Minister of Uzbekistan

Leaders highlight deep-rooted ties between the two countries and the success they have achieved

Weekly wrap: UAE President visits U.S., CBUAE raises GDP forecast, Microsoft to set up Abu Dhabi center

Sheikh Mohamed reaffirmed the UAE's unwavering commitment to its US partnership during his official visit

UAE, Saudi Arabia set to drive GCC retail industry boom until 2028: Report

Retail sales in the GCC region are projected to grow at a CAGR of 4.6 percent to reach $386.9 billion in 2028 from $309.6 billion in 2023

Job losses in travel and tourism hit 70 million with women and youth facing sharp declines: WTTC

The report highlights the travel and tourism industry's potential for inclusive growth and the urgent need for action

UAE banking sector demonstrates resilience with robust capital buffers, favorable liquidity conditions, says Central Bank

UAE's real GDP grew 3.6 percent, driven by rise in the non-oil sector, particularly in tourism, real estate, and finance 

Six new highlights to look forward to at Expand North Star 2024

The event will be held at Dubai Harbour from October 13 to 16

48,735 pensioners and beneficiaries to receive $220 million in September: Date of disbursement revealed by UAE’s GPSSA

This amount reflects a notable increase of AED91,728,008 ($25 million) compared to the same month in 2023

Saudi Crown Prince launches Riyadh Non-Profit Foundation to drive social development, foster Innovation

The Foundation's mission is to support institutional and social initiatives and boost research

COP28 President calls for ambitious NDCs to keep 1.5°C goal within reach, drive socioeconomic growth

Dr. Al Jaber said the UAE Consensus provides a vital roadmap for action at the ‘Roadmap to Mission 1.5: NDC 3.0’ event

Global digital creative economy to reach $7.35 trillion by 2030: Study

Survey and engagements with more than 400 experts shows growing appetite for the adoption of AI solutions

RTA introduces smart winter seasonal schedules to enhance maritime transport for tourists and residents in Dubai

This initiative encompasses all maritime transport services and routes, including Dubai Ferry, Abra, and Dubai Water Taxi

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