United Arab Emirates

UAE gold prices decline, global rates rise as focus shifts to U.S. inflation data

Strong dollar, possible interest rate hikes are major risks to gold prices

Make it in the Emirates forum: MoIAT, EDB to launch $100 million AI financing support

The program aims to create opportunities for local and global technology developers and startups

UAE banking sector’s profitability grows $5.66 billion in Q1 2024: Report

Banking sector's loans and advances grew 3.4 percent, reaching their highest level post-COVID-19

UAE tourism sector contributed $59.89 billion to GDP in 2023, generated 809,000 job opportunities

Projections suggest that the number of job opportunities will increase to 833,000 in 2024

Third edition of Make It in the Emirates Forum begins in Abu Dhabi, focusing on investment, innovation and growth

The forum features a diverse range of participants, including government, business, and financial representatives

UAE gold prices rise, global rates recover from 2-week low ahead of U.S. inflation data

Gold prices achieved a record high of $2,449.89 but have since lost over $100

Dubai’s DP World, Saudi Arabia’s Mawani break ground on $240 million logistics park in Jeddah

The collaboration between Mawani and DP World also includes the management of a container terminal through a separate 30-year concession

Third Make It in the Emirates Forum to begin on Monday in Abu Dhabi

The previous two editions generated AED121 billion ($33 billion) worth of local procurement opportunities

UAE Islamic banks surpass $195.39 billion in assets, up 13.61 percent year-on-year

The assets of Islamic banks operating in the UAE increased by about $23.41 billion over the past 12 month

UAE’s DEWA and Parkin join forces to expand Dubai’s EV charging network

By April 2024, there will be over 30,000 electric vehicles in Dubai, says Al Tayer

UAE announces $10 billion investment package to boost Pakistan’s promising economic sectors

In January 2023, the UAE agreed to roll over an existing $2 billion loan and provide an additional $1 billion to Pakistan

UAE gold prices decline further, global rates eye largest weekly drop in 8 months

Chinese reserve buying remains a significant tailwind, driving demand and supporting gold prices

Emirates, Avianca launch codeshare partnership through European gateways

Emirates and Avianca customers can enjoy seamless connectivity on multiple routes starting June 4

$935 million institutional placement of ADNOC Drilling shares complete

ADNOC will retain the majority 78.5 percent of ADNOC Drilling

Sharjah’s GDP surges 6.5 percent to $39.5 billion in 2023

Non-oil sectors also saw a significant 7.1 percent increase, reaching $38.79 billion in 2023

Emirates NBD upgrades UAE’s non-oil growth forecast to 5 percent in 2024

In 2023, the UAE's economy grew by 3.6 percent, in line with the bank's forecasts

Dubai’s RTA accelerates technological advancements with AI, metaverse and robotics in new digital strategy

The Authority launched 24 innovative initiatives integral to Digital Strategy 2023-2030

UAE gold prices slip, global rates continue decline after Monday’s record high

Traders are currently pricing in a 73 percent chance of an interest rate cut in November

UAE world’s second-largest global commodity trading hub: DMCC report

United States retained the top spot on the Commodity Trade Index with a score of 59 percent

UAE’s Islamic T-sukuk auction attracts bids worth $2.67 billion, oversubscribed 8.9 times

Strong demand seen from the eight primary dealers for both the 3-year and 5-year tranches of the sukuk

ADNOC acquires 10 percent stake in major LNG development in Mozambique

Mozambique's Coral South LNG development has a production capacity of almost 3.5 mtpa

UAE and France partner to boost global AI ecosystem

The partnership will cover various areas, including data centre and supercomputing infrastructure buildout