Economy

Sharjah Investment Forum 2024: Driving investment in a smart economy

Last year’s edition gathered over 2,800 attendees and featured more than 135 speakers

Efficient processes and enhanced investor appeal drive growth in Abu Dhabi 

Abu Dhabi Department of Economic Development recently unveiled the Unified Economic License, a key strategy driving the Emirate's growth 

Ajman Chamber launches strategy to attract investment, foster innovation, and drive economic growth

The Chamber aims for financial sustainability and efficient resource management

Egypt’s private sector fuels 37 percent of investment, driven by 293 reforms

The report shows that 64 percent of measures focused on boosting investment and industry

Oman hits 54 percent of employment target for H1 2024, 14,074 jobs created

The public sector has seen 6,963 individuals employed, representing 69.63 percent of the 10,000 target

DFM, SZSE partner to strengthen UAE-China capital market ties, enhance cross-border investment

This partnership will foster joint initiatives like roadshows, seminars, research collaborations, and training programs

UAE freelance license: Abu Dhabi’s ADDED adds 30 new activities

With these additions, the freelancer license now includes 100 different activities

SIF 2024 in September to highlight youth and women’s participation in the smart economy

The event seeks to leverage AI to enhance public services, health, and education

Indian businesses top Dubai Chamber of Commerce’s list of newcomers in H1 2024

The trade and repairing services sector ranked first, accounting for 41.5 percent of all new companies joining the chamber

What is tax-loss harvesting? How it works

Tax-loss harvesting is an investment strategy that allows you to reduce your taxable investment income by offsetting your capital gains with losses

UAE Corporate Tax: FTA issues public clarification on first period

The Corporate Tax Law applies to tax periods commencing on or after June 1, 2023

UAE nationals receive $691.53 million in home construction tax refunds from FTA

This covers the period since the service was launched and until the end of the first half of 2024

UAE’s diversified economy maintains robust growth in real estate, tourism, and manufacturing: OPEC

OPEC reported that the housing, utilities, and fuels sector rose to 6.7 percent YoY in June, up from 6.6 percent in May

DMCC accounts for 15 percent of total FDI in Dubai, 7 percent of GDP in H1 2024

Free zone posted a notable expansion in the technology sector, registering 226 new companies, including 14 gaming and nine AI companies

UAE issues new labour law to regulate employment, up to Dh1 million fine announced

The decree imposes fines on any employer who employs workers without a proper permit, hires workers or brings them to the country and fails to provide them with a job

UAE’s ICV program redirects over $13.07 billion to national economy in H1 2024

Number of Emiratis working in companies that obtained the program certificate rose 40 percent to 19,000 in H1 2024

Saudi Arabia boosts FDI landscape with new investment law updates

Saudi Arabia's FDI inflows rose by 158 percent, from $7.46 billion in 2017 to $19.3 billion in 2023

Abu Dhabi’s ADNIC profits before tax rise 10 percent to $61 million in H1 2024

ADNIC's total insurance revenues rose 54 percent annually to an all-time high of AED3.3 billion

Türkiye enters ‘disinflation’ as CBRT hikes rates to 50 percent, 2024 inflation forecast at 38 percent

CBRT governor cited $26.5 billion increase in reserves, 50 percent target for lira deposits amid global volatility

Egypt targets sub-10 percent inflation by 2025-2026 as CAPMAS data shows easing price pressures

The country’s annual urban consumer price inflation slid to 25.7 percent in July from 26.5 percent in June

Thani bin Ahmed Al Zeyoudi appointed executive chairman of Rorix Holdings

Al Zeyoudi's appointment underscores the company's commitment to fostering inclusive economic development

Egypt’s inflation slows for 5th straight month to 25.7 percent in July

Egypt's inflation rate has declined for the last five months after reaching a record high of 38 percent in September 2023

Dubai’s PCFC profit surges 33.47 percent to $178 million in 2023, revenues reach $292.67 million

By 2023, PCFC had 600 employees, 96,000 clients, 400 suppliers, and 26 strategic partners