economy

UAE non-oil economy reports strong growth in November: PMI

The Dubai PMI climbed to 53.9 in November, up from 53.2 in October but slightly below the UAE's 54.2

Abu Dhabi’s Hub71 secures $1.9 billion in funding for startups

The global tech hub generated revenues surpassing $1.08 billion

Global trade set to reach record $33 trillion in 2024: UNCTAD

This represents a 3.3 percent annual growth rate, showcasing the resilience of international trade amid ongoing challenges

Abu Dhabi’s NMDC LTS signs definitive agreement to acquire 70 percent equity stake in Emdad

The acquisition, pending regulatory approvals, will allow NMDC to expand into oilfield services

ADBW 2024: Abu Dhabi Chamber launches 2025-2027 Roadmap with five pillars for innovation and growth

The new roadmap guides the enhancement of the emirate’s economy, building on ADCCI’s successes over the next three years 

Qatar launches green bonds trading on London Stock Exchange

Ministry of Finance launched the green bonds with the aim of financing environmentally friendly projects

Oil prices decline as OPEC+ prolongs supply cuts

Brent crude futures for February delivery fell by 0.4 percent to $71.80 a barrel

Salik assigned strong investment grade credit ratings by Moody’s, Fitch

Fitch has assigned Salik an investment grade A- issuer default credit rating with a stable outlook

Optimism in Saudi real estate fueled by lower rates and strong transparency: Report

The Kingdom’s commitment to economic diversification under Vision 2030 support growth and boost investor confidence 

dnata Logistics breaks ground on $27.2 million Dubai South warehouse

The new warehouse will handle 400,000 tons of cargo annually, boosting storage capacity by 50 percent and creating over 50 jobs 

Dubai CommerCity launches autonomous delivery robots trial for enhanced last-mile logistics

The free zone will designate areas for robot parking and charging during the trial to enable seamless operations 

Dubai Duty Free reports $1.94 billion in sales by end of November 2024

November 30 set a new daily sales record for the year at $8.46 million