Economy

Sharjah launches instant license service to simplify business setup for entrepreneurs: What you need to know

The new initiative eliminates the need for a Memorandum of Association during the first year

Abu Dhabi’s population grows 7.5 percent to 4.14 million in 2024

The emirate's population has increased by 51 percent over the past decade, rising from 2.7 million in 2014 to over 4.1 million in 2024

Saudi Arabia’s unemployment rate hits new low of 2.8 percent in Q1 2025

The unemployment rate among Saudi citizens in the first quarter of 2025 reached 6.3 percent

Saudi Arabia’s net foreign direct investment surges 44 percent to $5.9 billion in Q1 2025: GASTAT

Inflows into the Kingdom increased by 24 percent from $5.2 billion in Q1 2024 

RTA partners with National Paints to rename metro station in Jebel Ali

National Paints’ investment underscores the value of transit media in shaping consumer engagement

How Saudi Arabia accelerated Vision 2030 in 2025: Major projects, global forums, and FIFA World Cup 2034 hosting win

The Kingdom is diversifying its economy with strategic investments in tourism, entertainment, and technology sectors 

Dubai Chamber explores global expansion opportunities for local companies in Armenia, Georgia, Malaysia, and Cambodia

Dubai Chamber contributes to enhancing the competitiveness of the private sector and accelerating the growth of the emirate’s non-oil foreign trade

Abu Dhabi Fund for Development signs $205 million GCC power grid expansion

The project is a key component of the UAE’s long-term strategy to diversify and modernize its energy infrastructure, in alignment with the UAE Energy Strategy 2050

Abu Dhabi’s Sheikh Khaled to lead UAE delegation at Supreme Eurasian Economic Council meeting

UAE’s participation underscores growing diplomatic and economic ties with the Eurasian region 

Sharjah authorities strengthen ties to boost trade and tourism growth

Sharjah has experienced significant growth in business establishment and sustainability over the years

U.S. economy faces stagflation, recession risks as JPMorgan lowers growth projections for 2025

Rising tariffs are dampening global economic momentum and reigniting domestic inflationary pressures 

Middle East emerges as luxury retail’s next powerhouse as consumer spending grows

The influx of HNWIs is reinforcing the region’s appeal for luxury brands and underlining its long-term growth potential

Jordan’s economic growth outpaces forecasts as IMF releases new funds

Jordan continues to make progress with a gradual fiscal consolidation and strengthening fiscal sustainability

UAE: Strong sovereign ratings from top 3 credit rating agencies spotlight economy’s resilience

Fitch Ratings affirmed the UAE’s rating at “AA-” with a stable outlook on June 24

U.S. current account deficit hits record high as foreign direct investment plummets to $52.8 billion in Q1 2025

The decrease coincided with heightened business uncertainty over President Trump's tariff proposals and policies.

UAE remains world’s top wealth magnet, to attract record 9,800 millionaires in 2025

The estimated wealth of millionaires moving to the UAE this year is $63 billion

World Bank approves $146 million grant to restore electricity in Syria

The project will deliver technical assistance to help shape Syria’s electricity sector strategy

How fiscal policy, increased public spending are shaping GCC economic resilience in 2025

Total public spending in GCC countries is projected to reach $542.1 billion in 2025 

UAE Central Bank boosts gold reserves by 19.3 percent to $7.46 billion in Q1 2025

Demand deposit balances surpassed AED1.147 trillion, up from AED1.109 trillion in December 2024 

Fitch affirms UAE rating at AA-, Abu Dhabi at AA with stable outlook

Rating reflects the UAE's moderate consolidated government debt, strong net external asset position and high GDP per capita

Will the GCC introduce personal income tax after Oman makes the landmark policy shift?

Oman's decision marks a milestone for the region, where tax-free personal income has long been a defining feature of the social contract

Non-oil activities in Saudi Arabia surge by 5.3 percent in 2024, reports GASTAT

Non-oil growth indicates positive trends across various economic sectors in Saudi Arabia for 2024

Dubai Chamber of Commerce welcomes 4,543 new Indian businesses in Q1 2025

The wholesale and retail trade sector ranked first, accounting for 36.2 percent of new registrations

Oman becomes first GCC state to impose personal income tax starting 2028

The 5 percent tax will be imposed on a natural person whose total annual income exceeds OMR42,000