business
![Saudi Arabia Crown Prince, Italy Prime Minister ink agreement to establish Saudi-Italian Strategic Partnership Council](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2025/01/Saudi-Arabia-Italy.jpg/w=1024,h=683)
Saudi-Italian high-level roundtable resulted in the signing of 26 memoranda of understanding across key industries
![Etihad Credit Insurance hosts workshop for selected Xport Xponential initiative companies](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2025/01/etihad-eci3.jpg/w=1024,h=683)
H.E. Raja Al Mazrouei emphasized the initiative's role in boosting UAE exports and empowering local manufacturers
![ADGM launches all-in-one mobile app to boost connectivity across financial district](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2025/01/ADGM-mobile-app.jpeg/w=1024,h=683)
The app offers residents and visitors access to lifestyle features, cultural activities, and exclusive services
![UAE digital VAT refund system achieves 34,900 applications, $789.5 million in refunds](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2025/01/uae-fta-digital-refund.jpg/w=1024,h=682)
In 2024, UAE nationals received 7,520 VAT refund applications for new residences, totaling $191.8 million
![Oil prices decline 1.2 percent to $77.59 as Trump’s policies, China’s weak data impact market](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/07/Oil-prices-3.jpg/w=1024,h=703)
Oil markets faced pressure from weak PMI data from China, indicating ongoing struggles in business activity
![Etihad Rail: UAE high-speed train project set to boost GDP by $39.5 billion](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2025/01/UAE-high-speed-train-project-1-1.jpg/w=1024,h=683)