economy

UAE President Sheikh Mohamed attends 16th BRICS Summit in Kazan, Russia

Extending until October 24, the 16th BRICS Summit will focus on key issues including financing, technology, food trade and expanding the union’s membership

UAE maintains leadership in global labor market competitiveness indicators

The country secured the top position globally in four key indicators from the Institute for Management Development World Competitiveness Yearbook 2024

UAE’s real GDP expected to expand by 5.1 percent in 2025, according to IMF

Globally, growth is expected to remain stable but lackluster, with projections of 3.2 percent for both 2024 and 2025 

Oil prices decline amid rising U.S. inventories, ongoing Middle East tensions

Brent crude futures for December fell 0.4 percent, settling at $75.75 per barre

Finance House to invest $81.67 million in Abu Dhabi capital market

This collaboration seeks to enhance market liquidity and financial stability, aligning with the ADX’s vision 

Sharjah Chamber hosts Japanese delegation, discusses enhancing economic cooperation

The Chamber seeks to boost knowledge exchange and collaboration between investors from both nations

Abu Dhabi, Dubai crowned top cities for expats’ ease of entry globally

Dubai, Abu Dhabi, Riyadh, and Dammam demonstrated adaptability in the face of global economic and geopolitical challenges

Mohammed Bin Rashid Aerospace Hub, IER MRO Industries partner to open MRO and engine test facility at Dubai South

The new 880,000-square-foot facility will offer gas turbine engine component manufacturing, repairs, and overhauls

Oil prices slide amid Middle East tensions, Chinese demand concerns

Brent crude futures for December delivery fell by 19 cents, or 0.3 percent, settling at $74.10 a barrel

Sharjah Islamic Bank profit before tax up 29 percent to $270.1 million for nine months ending September

The bank is diversifying its financing portfolio, with total customer financing at AED36.6 billion