economy

ADNOC JV inks $250 million contracts for two mega ammonia carriers

The agreements were finalized in Abu Dhabi at Jiangnan Shipyard’s first Middle East office opening

DAMAC reveals new nature-centric community, DAMAC Sun City in Dubai

The community is DAMAC’s fifth master development, and the second one launched in six months of this year

Yas Island’s business venues to be showcased in metaverse through Miral and e& enterprise partnership

The project will showcase attractions like theme parks, hotels, restaurants, and entertainment

WTO anticipates gradual recovery in global merchandise trade despite geopolitical tensions, inflationary pressures

The organization highlighted disparities between GDP growth and merchandise trade performance

Dubai Silicon Oasis recognized as Middle East Free Zone of the Year for Innovation Zones

DSO celebrated four awards at the fDi Global Free Zones of the Year Awards

ADNOC gets all approvals to buy 50 percent plus 1 share stake in Fertiglobe

A block trade will occur on the Abu Dhabi Securities Exchange (ADX) today, October 11, 2024, settling on October 15

Saudi Arabia, Oman sign MoU to advance economic resilience and green initiatives

This MoU is designed to facilitate cooperation through the sharing of information, expertise, and research

Emirates invests $48 million in advanced training systems for 3 full flight simulators

Emirates has 65 A350s and 205 777Xs on order, supporting its growth and enhancing route flexibility

Dubai Islamic Bank issues $500 million additional Tier 1 Sukuk

The issuance drew a diverse investor base, including banks and fund managers from Europe, Asia, and the Middle East

Dubai Department of Economy and Tourism to present innovative initiatives at GITEX Global, Expand North Star

At the event, DBLC will launch solutions to enhance the investor experience and improve business operations in Dubai

DWTC, RTA, and Dubai Police collaborate for seamless citywide operations at GITEX Global 2024

This focus on traffic management and safety highlights Dubai's role as a top host of mega events

Oil prices dip amid strong U.S. inflation data, yet remain on track for weekly gains due to Middle East tensions

Brent crude futures for December delivery dropped 0.5 percent to $78.98 a barrel

COP28 President urges global unity and action at COP29 to advance climate goals, build on UAE Consensus

The UAE Consensus serves as a crucial roadmap for fulfilling the aspirations of the Paris Agreement 

Egypt’s inflation reaches 26.4 percent in September driven by fuel, electricity hikes

On a month-to-month basis, prices increased by 2.1 percent, consistent with the previous month's 2.1 percent rise

22 percent of UAE’s non-oil trade transported by road in 2023, totaling $156.9 billion

UAE Minister Suhail Al Mazrouei said the advanced transport system has boosted the UAE's competitiveness 

UAE’s MoHAP, SEDD partner to streamline facility licensing in Sharjah

This initiative enhances regulatory services by integrating best practices in digital transformation

UAE’s AI firm G42 to reveal ‘Intelligence Grid’ at GITEX 2024

The grid aims to establish a new benchmark for scalable AI solutions across essential sectors such as government, healthcare, and energy

UAE-Oman Hafeet Rail project signs $1.5 billion bank financing deals

A single freight train journey is expected to transport over 15,000 tons of cargo, equivalent to about 270 standard containers 

ADNOC Gas leverages 3D printing for 3,500 components, aiming for $50 million in savings by 2028

The adoption of 3D printing offers a sophisticated digital solution for quickly producing high-quality components 

Expand North Star 2024: Dubai Chamber of Digital Economy highlights competitive advantages of emirate’s digital business ecosystem 

The chamber will showcase the top facilities and infrastructure in the emirate for supporting digital startups

Middle East is betting big on tech

The region's view of a tech-driven future is expanding, fueled by strong public-private synergy

How technology is increasingly powering the global economy

Productivity, trade and income distribution heavily influenced by technological advances