economy
![UK’s BoE leaves 5.25 percent interest rate untouched, pound weakens below 1.27 against US. dollar](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/06/BoE-interest-rates.jpg/w=1024,h=683)
Seven MPC members voted to hold the 5.25 percent rate, while two preferred a 0.25 percentage point cut to 5 percent
![UAE’s ADGM Academy, Ethara sign MoU to develop next-gen Emirati talent](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/06/ADGM-Ethara-1.jpg/w=1024,h=683)
ADGMA and Ethara aim to establish an educational hub that will develop comprehensive training programs
![Egypt reports $17.23 billion primary budget surplus, reaching 5.87 percent of GDP from July 2023 to May 2024](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/06/Egypt-budget-surplus.jpg/w=1024,h=683)
This represents a significant increase compared to the previous fiscal year, when the surplus was only $2.43 billion
![UAE’s real GDP to grow by 3.9 percent in 2024, 4.1 percent in 2025: Report](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/06/UAE-GDP.jpeg/w=1024,h=682)
The broader MENA region is expected to grow 2.8 percent in 2024 and accelerate to 4.2 percent in 2025
![AI Retreat 2024: Sheikh Hamdan plans to double AI’s positive impact to drive economic growth, improve quality of life in Dubai](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/06/Hamdan-AI1.jpeg/w=1024,h=681)