Economy

UAE ranks 7th globally in 2024 World Competitiveness Report

The UAE is now ahead of Norway, Iceland, Japan, Canada and Finland

Global food import bill to exceed $2 trillion in 2024: Report

Favourable macroeconomic conditions, including steady global economic growth and lower food commodity prices, drive projections

UAE President Sheikh Mohamed arrives in Italy to attend G7 session on AI and energy

Visit underscores the UAE’s commitment to strengthening dialogue and international cooperation in addressing global challenges

Saudi Arabia’s GDP growth of 1.4 percent higher than G20 average in Q1 2024: Report

Türkiye recorded the highest growth at 2.4 percent in Q1 of 2024 followed by India at 1.9 percent

Dubai’s DMCC attracts over 160 new Indian businesses as bilateral trade up 16 percent in 2023

UAE expects bilateral trade with India to reach $100 billion within the next five years

UAE GDP growth to climb to 3.9 percent in 2024: Central Bank

The non-oil sector is expected to grow 5.4 percent during the year

Abu Dhabi Finance Week returns in December under the theme ‘Welcome to the Capital of Capital’

This year’s strategic theme aims to unravel the key facets of Abu Dhabi’s strength and value proposition

US Federal Reserve keeps interest rates steady

The Fed had set the benchmark policy rate in the 5.25-5.50 percent range last July

Egypt’s economy to grow to 4.2 percent in 2024, 4.6 percent in 2025-2026: World Bank

Decline in shipping through the Suez Canal and tourism to impact 2023-2024 growth

UAE’s real GDP to grow by 3.9 percent in 2024, 4.1 percent in 2025: Report

The broader MENA region is expected to grow 2.8 percent in 2024 and accelerate to 4.2 percent in 2025

Top Abu Dhabi regulators collaborate to make AGWA a success

AGWA cluster seeks to capture opportunities in the growing global food and water industry, which is expected to reach AED77.4 trillion by 2045

UAE’s non-oil sector grows 6.7 percent in Q4 2023: OPEC

Construction sector supports non-oil growth, accelerating to 8.4 percent in Q4 of 2023

Global economy to stabilize for first time in three years, grow at 2.6 percent in 2024: World Bank

One in four developing economies is expected to remain poorer than it was on the eve of the pandemic in 2019

Five key themes that will shape global economy in 2024

With higher growth and higher bond yields on one hand and high inflation and geopolitical risks on the other, the global economy is at a delicate juncture

Inflation in Egypt predicted to drop by 10 percent by end of June 2025: Report

The report cited the recent floating of the pound exchange rate and an enhanced IMF agreement

Abu Dhabi’s new AGWA cluster to add $24.5 billion to GDP, generate 60,000 jobs

AGWA will be a global hub for novel food and ingredients, as well as technologies to increase access to and the utilisation of water resources

UAE’s ADGM, Bermuda Monetary Authority sign MoU to boost collaboration on digital asset regulation and supervision

The framework also encompasses investigative assistance, and capacity enhancement initiatives

Egypt’s inflation declines to 28.1 percent in May

Egypt's rural inflation declined to 26.7 percent while overall inflation declined to 27.4 percent

UAE tightens telemarketing rules, announces fines of up to $41,000

Telemarketing calls can only be made between 9am and 6pm

IMF reaches staff-level deal for $820 million loan to Egypt

Agreement follows approval of $8 billion extended fund facility loan in March

RAKEZ, Indian Chamber forge agreement to boost business opportunities, economic growth

RAKEZ hosts close to 6,000 Indian companies that are contributing to the UAE's diverse industrial landscape

MENA’s economic landscape: Positive outlook amid persistent challenges

Analysts forecast a tepid year-on-year GDP increase this 2024, ranging from 2.4 to 2.7 percent

The rise of the digital economy: Banks as architects of GCC’s financial future

Open banking and digital payments among technologies that drive transformation in the finance industry