economy

RTA introduces smart winter seasonal schedules to enhance maritime transport for tourists and residents in Dubai

This initiative encompasses all maritime transport services and routes, including Dubai Ferry, Abra, and Dubai Water Taxi

UAE gold prices steady, global rates set for weekly gain on second rate cut bets

Market focus now shifts to the U.S. core personal consumption expenditures price index data due later today

Sheikh Mohammed meets HSBC Holdings group chairman, discusses strengthening financial partnerships

The meeting further addressed Dubai's infrastructure upgrades, reinforcing its role as an investment hub and trade link

Oil prices decline as Libya and OPEC+ boost output, while China’s stimulus offers support

Brent crude futures decreased by 20 cents, or 0.28 percent, settling at $71.40 per barrel

Saudi Arabia engaging in high-level discussions with SpaceX to boost space exploration, infrastructure development

The meeting is part of the Kingdom's ongoing initiatives to advance its space sector and improve infrastructure

Abu Dhabi awards oil and gas exploration concession to Malaysia’s Petronas

The company was awarded exploration concession for Onshore Block 2 in Abu Dhabi

Gross written premiums rise 31.2 percent YoY in H1 2024 to $9.7 billion, reports UAE Central Bank

This increase was primarily driven by significant rises in property and liability insurance premiums

Sheikh Mohammed bin Rashid issues Decree on the Board of Dubai Multi Commodities Centre Authority

According to the Decree, Abdul Wahed Abdul Rahim Al Olama will take on the role of Vice Chairman of the Board

Dubai Maritime City boosts ship handling capacity to 1,000 vessels, solidifying hub status

DMC's upgraded lifts for 6,000 and 3,000 tons double capacity to 1,000 vessels annually

‘Invest in the Emirates’ campaign goes global, seeks to generate over 200 million impressions

Campaign’s reach also extended to major airports in Zurich, Geneva, Munich, New York and Heathrow

EtihadWE, Khalifa University join forces to enhance desalination and resource efficiency in the UAE

The agreement seeks to explore and evaluate advanced membrane technologies and improve water quality

UAE airports soar with 14.2 percent rise to 71.7 million passengers in H1 2024

This is compared to 62.8 million during the same timeframe last year

UAE Central Bank raises country’s GDP growth forecast for 2024 to 4 percent, 6 percent for 2025

Growth in 2025 will be fueled by strong non-hydrocarbon momentum and a rise in hydrocarbon production 

Sheikh Mohammed bin Rashid issues Decree on the Board of Dubai Health

This board will be chaired by Sheikh Ahmed bin Saeed Al Maktoum

Oil prices steady amid Libyan production hopes, strong U.S. demand

Brent oil futures for November rose by 0.1 percent to $73.51 per barrel

Sheikh Mohamed strengthens UAE-U.S. relations through key dialogues with U.S. senators on shared interests, global challenges

Key focus areas included the economy, trade, climate action, AI, renewable energy, and sustainability

81 percent of new renewables cheaper than fossil fuels, saving $409 billion since 2000: IRENA

Solar PV costs plummet to 4 cents per kWh, 56 percent lower than fossil fuels

Dubai Courts, Dubai Chambers sign MoU to strengthen emirate’s role as global commercial dispute resolution hub

This agreement aims to create initiatives that resolve commercial disputes through mediation and conciliation 

UAE: Passport validity reduced to one month to facilitate status amendments for violators, says ICP

This adjustment allows violators to leave without an entry ban stamp or secure jobs while staying 

Investec expands presence in Middle East with new office at Dubai International Financial Centre

The DIFC office will connect HNWIs, family offices, and financial institutions in the GCC, providing advisory services in private banking and wealth management.

AD Ports reports 30 percent rise in vehicle volumes at Autoterminal Khalifa with 90,000 square meters of yard expansion

Since 2021, AD Ports has tripled its revenue through strategic acquisitions and organic growth

UAE, U.S. ink agreement to strengthen economic, trade and customs cooperation

Agreement reiterates the UAE's position as a regional gateway for global trade with significant importance to the U.S.

Qatar’s Ooredoo Group lands $551.9 million financing deal to propel data center expansion

The deal will drive growth in Ooredoo’s data center unit and open new opportunities in AI and cloud computing