Economy

UAE-Chile CEPA set to take effect in six months, promises $73 million national economic boost by 2031: Al Zeyoudi

The agreement aims to liberate trade between both countries, empower women in commerce

UAE’s new AI Charter prioritizing safety, privacy, and societal trust in AI advancements

The launch reflects the UAE's vision to establish itself as a global AI hub

Global gold demand hits record highs with strongest Q2

Gold price averaged $2,338/oz, 18 percent higher year-on-year, reaching a record of $2,427/oz during the quarter

IMF completes third review for extended arrangement with Egypt, approves $820 million disbursement

The decision follows a positive economic assessment since the program's launch in December 2022

UAE, Chile sign CEPA to boost non-oil trade through tariff cuts and eased barriers

The CEPA also seeks to establish new investment and cooperation pathways, allowing private sectors to build partnerships

Dubai’s digital economy chamber supports 215 digital startups worth $7 billion in H1 2024

During H1, the chamber trained 243 Emiratis as part of the 'Create Apps in Dubai' initiative

G20: UAE to double digital economy’s GDP contribution to 19.4 percent with $20 billion investment

This investment signals the UAE's commitment to accelerating the growth and adoption of digital technologies across its economy

UAE and Morocco finalize CEPA to boost goods and services trade through tariff cuts, regulatory reforms

In 2023, the two nations had $1.3 billion in non-oil trade, a 30 percent increase from 2022 and 83 percent more than in 2019

Investopia Global Talks launch in Chennai to boost UAE-India partnerships in key sectors

The UAE and India are among the fastest growing economies, with the UAE’s non-oil GDP growing by 6.2 percent in 2023

Egypt central bank to begin cutting interest rates in September: Report

Egypt's inflation to average around 25 percent in H2 of 2024, down from 31 percent in H1

Egypt’s economy growth to rebound to 4.99 percent in 2025/26 amid policy tightening 

The country’s growth is projected at 4 percent for FY 2024/2025

Dubai International Chamber attracts 24 multinational companies in H1 2024

Chamber supported the expansion of 34 local companies into new global markets through its international offices

Egypt sets sights on $5 billion investment goal with India by 2027

Through renewable energy, green hydrogen, and engineering initiatives

UAE’s pension authority, ADGMA forge agreement to boost financial literacy among Emiratis

Agreement supports the UAE’s efforts to enhance financial awareness amongst Emiratis in federal, government and private sector entities

CrowdStrike outage: Why hasn’t the issue been fixed yet?

The problem has been identified, and a fix has been issued. But why isn't everything back on track yet?

Kuwait sees deficit of $5.23 billion in FY 2023/24 despite non-oil revenue growth

The country's total revenue in fiscal year 2023-2024 was KWD23.645 billion

Dubai’s DMCC reports 9 percent rise in Chinese member companies in H1 2024

DMCC has become home to 15 percent of the estimated 6,000 Chinese businesses and companies in the UAE

UAE, Indonesia to boost cooperation in public finance, debt management, and climate finance

The two countries enjoy thriving bilateral trade, with $4 billion in volume in 2023 

Dubai’s GDP tops $31.3 billion in Q1 2024, grows 3.2 percent

Dubai’s economic growth in the first quarter of the year mirrors the success story of 2023

Over 34,000 new companies join Dubai Chamber of Commerce in H1 2024

Chamber's members saw a significant 6.7 percent annual increase in the value of exports and re-exports to AED145.9 billion

Kuwait’s inflation slows to 2.8 percent in June, lowest since 2020, as food and rent costs cool

Price rises in the food & beverages sub-component eased to a still-elevated 5.6 percent down from 6.1 percent in May

UAE, Mauritius sign CEPA to boost trade, investment

The new deal builds on growing UAE-Mauritius economic relations, which from January to April 2024 saw non-oil trade reach $76 million