United Arab Emirates

UAE’s MoF issues Public-Private Partnership Manual, defines priority sectors for first phase

The manual aims to leverage private sector expertise to benefit the government

UAE gold prices decline, global rates dip on stronger dollar

Higher 10-year treasury yields and a stronger U.S. dollar trigger decline in gold prices

Japan’s Mitsui & Co. to begin construction on clean ammonia facility in UAE

Japan Bank for International Cooperation, Sumitomo Mitsui Banking Corp co-finance $27 million loan

CBUAE issues Sandbox Conditions Regulation to boost innovation in financial services sector

The regulation will also help consolidate the financial sector's competitiveness and support the UAE's economic growth

UAE among top 10 countries with highest installed solar energy per capita: Report

With a cumulative capacity of 708 watt/capita, the UAE ranked 10th globally and first MEA country on the list

ADNOC Drilling’s new dividend policy to channel $4.79 billion to shareholders by 2028

The expected cumulative minimum yield from this new dividend policy during the 2024-2028 period is more than 27 percent

Dubai secures 12th spot in global wealth and lifestyle report, solidifying position as premier luxury destination

The emirate emerged as the 6th most expensive city in EMEA, attracting wealthy residents with its flourishing economy

UAE gold prices decline, global rates dip ahead of U.S. economic data releases

Gold prices declined over 1 percent on Friday on stronger dollar after U.S. business activity rose to a 26-month high in June

UAE, Czech Republic ink agreement for bilateral reinsurance obligations, boost bilateral trade

Agreement falls within the framework of the distinct economic partnership between the UAE and the Czech Republic

flydubai launches daily flights to two destinations in Pakistan starting July 1

flydubai started operating flights to Pakistan in 2010 with the launch of flights to Karachi

Etihad Airways operates first flight to Saudi Arabia’s Al Qassim

The new route to Al Qassim becomes Etihad's fourth destination in Saudi Arabia, with four non-stop flights per week

UAE’s Etihad Cargo expands European footprint with new freighter route to Madrid

Effective July 15, 2024, Etihad Cargo will operate two weekly Boeing 777 freighter flights between Abu Dhabi and Madrid

UAE Central Bank revises inflation forecast downwards to 2.3 percent in 2024

Dubai's headline consumer price index inflation averaged 3.4 percent annually in Q1 of 2024

UAE gold prices inch up, global rates rise ahead of key U.S. inflation data

If the inflation data is on the lower side, the Fed might lower interest rates twice this year

Sheikh Hamdan approves latest phase of Dubai Future Solutions program

The initiative aims to nurture talent and create a global innovation hub

CBUAE’s gross written premiums up 18.5 percent YoY in Q1 2024 to $5.74 billion

Gross paid claims of all types of insurance plans increased by 18.3 percent YoY to AED8.4 billion in Q1 2024

Emirates’ green aviation initiative slashes fuel burn by 48,000 tons, cuts carbon emissions by 151,000 tons

The airline has equipped its pilots with the latest tools and applications to monitor and optimize their flight performance

DEWA commissions $78.36 million water reservoir in Enkhali to raise Dubai’s water storage capacity

Upon completion of the project, the reservoirs will have a storage capacity of 1121.3 MIG of desalinated water

Abu Dhabi’s Etihad Airways launches major network expansion, adds eight new routes this June

The addition brings the total number of operating routes this summer to 76.

UAE’s DP World completes $400 million investment to expand Peru’s port capacity

This expansion has increased the port's handling capacity from 1.5 million TEUs per year to 2.7 million TEUs

UAE gold prices up, global rates set for second weekly gain

Decline is U.S. weekly jobless claims, new housing construction raised hopes for a rate cut in September

Abu Dhabi’s Masdar signs $3.43 billion deal to acquire Greece’s Terna Energy

Offer values Terna Energy's total equity at 2.4 billion euros with an enterprise value of 3.2 billion euros

Abu Dhabi’s KEZAD, Astha Biotech sign lease agreement for $12 million microalgae plant in the emirate

The deal will enable the launch of the UAE's first microalgae company for health, cosmetics, food, and aquaculture

Dubai DET appoints Dr. Marwan Alzarouni as Chief AI Officer

Upon his appointment, Dr. Alzarouni emphasized the goals of Dubai's AI Blueprint