Economy

S&P upgrades Ras Al Khaimah’s economy to ‘A/A-1’ with stable outlook

Ras Al Khaimah's real GDP growth will average about 4 percent over 2024-2027 on ongoing tourism and infrastructure projects

Saudi Arabia’s entertainment sector to create 450,000 jobs by 2030: Report

The sector reported several record highs in the last five years, including attracting over SAR1 billion in total revenues and over 75 million event attendees

5 reasons the global economy will emerge stronger in 2025

Of the 37 global central banks tracked, 27 are cutting policy rates, including every G10 central bank outside of Japan

UAE President meets Qatar’s Prime Minister to enhance cooperation between nations

Discussions also explored ways to enhance mutual interests and reinforce security and stability in the region

Dubai International Chamber attracts 157 multinational companies, SMEs from Q1 to Q3 of 2024

The Chamber successfully supported 75 local companies expanding into global markets

Sheikh Hamdan bin Mohammed attends Dubai Future Forum 2024

Sheikh Hamdan emphasized Dubai’s standing as a global pathbreaker in designing the future and anticipating emerging trends and opportunities

AED96,000 fine if companies fail to meet Emiratization targets, says MoHRE

Establishments with 50 or more workers must ensure a 2 percent increase in the number of Emirati employees in skilled positions

Dubai Future Forum 2024: World poised for ‘era-defining moments’

The forum kicked off today in its third edition at the Museum of the Future, welcoming over 2,500 experts from 100 countries

World Bank partners with ADGM Academy to boost financial literacy, economic knowledge

The collaboration will create an environment that equips individuals, businesses, and governments with the skills to thrive in the evolving financial landscape

G20: Crown Prince of Abu Dhabi engages in talks with Presidents of France, Egypt, and South Africa

Yesterday, Sheikh Khaled also engaged in official discussions with Brazilian President Luiz Inácio Lula da Silva

Over 51,000 companies join Dubai Chamber of Commerce in 9M 2024, up 4 percent annually

Chamber reviewed 154 laws and draft laws in cooperation with business groups, resulting in an adoption rate of 46 percent

Ras Al Khaimah Ruler visits China’s Guangdong Province to boost ties in key sectors

The Ras Al Khaimah delegation will sign an agreement that focuses on promoting exchange and cooperation in several areas

G20 summit: UAE allocates $100 million to support alliance against hunger, poverty

Sheikh Khaled highlighted the UAE’s dedication to supporting global initiatives to combat hunger and poverty

UAE sustains role as key regional hub for trade, business, travel: World Bank

This prominence is due to the country's successful economic diversification and reduced reliance on oil 

UAE joins Oman in National Day celebrations

Non-oil trade between the two countries reached AED51 billion last year, up from AED48.7 billion in 2022

Egypt’s inflation remains stable for third month straight, reaches 26.5 percent in October

Annual nationwide headline inflation increased to 26.3 percent in October 2024, up from 26 percent in September 2024

Abu Dhabi Crown Prince Sheikh Khaled meets Brazil president, inks investment partnership

Sheikh Khaled and the President of Brazil highlighted the 50th anniversary of diplomatic relations between the two countries

UAE, Brazil strengthening bilateral relations and collaboration in G20 for global development

The UAE is Brazil's largest Middle Eastern partner, with trade at AED13.28 billion in the first eight months

Lebanon sees $8.5 billion in physical damages, economic losses amid conflict: World Bank

Damages to physical structures alone amount to $3.4 billion while economic losses have reached $5.1 billion

Sheikh Hamdan meets X Corp CEO Linda Yaccarino

X, formerly Twitter, opened its first office in the Middle East and North Africa region in Dubai in 2015

How retailers in UAE, Saudi Arabia are meeting evolving consumer expectations

In the UAE, the market stands at $40 billion, with an anticipated CAGR of 6.5 percent

Elon Musk’s wealth surges by $90 billion in 2024, to head Donald Trump’s department on efficiency

The department will provide advice and guidance from outside the government

UAE economic outlook: OPEC reports strong fiscal performance, rising tax revenues

Tax revenues for Q2 2024 reached $25.9 billion, total revenue amounted to $38.9 billion

Top 5 market highlights to monitor this week

Investors are focusing on upcoming inflation data for clues on how the economy may shift after the election results