Economy

Abu Dhabi Chamber sees 23.8 percent year-on-year growth in certificates of origin

This growth underscores the chamber's efforts to boost trade opportunities and enhance the UAE's international trade footprint

Abu Dhabi’s hotel revenue soars to $865.79 million in first five months of 2024, welcoming 2.4 million guests

By the end of May, Abu Dhabi boasted 169 hotel establishments, offering a total of 34,079 rooms

UAE banks add 15 ATMs in Q1 2024, reaching 4,669

This growth is driven by technological advancements and changes in the financial sector, leading to greater security and efficiency

Dubai Chambers expands China ties further, partners with Industrial and Commercial Bank of China

Agreement to promote collaboration between companies in Dubai and China to boost bilateral trade and investment in both markets

Turkish central bank holds interest rate steady at 50 percent for fifth month

This move reflects TCMB's commitment to a cautious monetary policy, balancing inflation control with economic risks

Manufacturing sector’s 9.2 percent expansion boosts Oman’s economic growth in Q1 2024

Oman's 10th Five-Year Plan aims to boost manufacturing's GDP contribution from 10 percent to 12.2 percent by 2025

Saudi Arabia’s logistics master plan to be launched at the upcoming GLF 2024 in October

Over 10,000 participants, including heads of state, ministers, and industry leaders, will convene in Riyadh

Saudi Arabia’s PIF surpasses $765 billion in AUM, delivering 8.7 percent average annual shareholder return

Since its inception, PIF has achieved an average total shareholder return of 8.7 percent per year

505 new firms join Qatar Financial Center’s platform in the H1 2024, tech sector contributes largest share

Largest contributor to center's growth was the tech sector with around 38 percent of total registrations during the first half of 2024

UAE’s DWTCA Free Zone reports 19 percent rise in registered companies to 2,818 in H1 2024

The number of direct jobs within the free zone also grew to 8,223, a 5 percent annual increase from  7,837 in H1 2023

DMCC seeks to expand UAE-U.S. trade, investment flows across key sectors

DMCC is currently home to over 45 percent of the 1,500 American businesses in the UAE

Saudi central bank reports strong growth in reserve assets, reaching $467.4 billion in Q2 2024

The quarter saw a 2.7 percent quarterly increase, adding around SAR46.724 billion to the reserve

Accelerating growth: ADGM strengthens position as global financial hub

The UAE capital’s international financial center saw its AUM grow by 226 percent in H1 2024

Dubai Chambers, China Construction Bank partner to boost trade and investment cooperation

This deal will foster knowledge sharing and expertise exchange, strengthening support for businesses and investors

Harnessing public-private partnerships to transform local economies  

PPPs attract investments, create jobs and develop new capabilities 

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