economy

Tasama: New PIF company to support startups, boost business services growth across Saudi Arabia

Tasama offers a suite of services to support businesses through their startup and growth phases.

UAE’s SCA reveals 55 percent surge in new licenses, 230 percent growth in total assets

New committee aims to harmonize regulatory frameworks and enhance financial ecosystem resilience.

UAE Ministry of Economy and Tourism strengthens IP cooperation with Spain and Morocco

The agreements are designed to support the development of the UAE’s IP framework in alignment with international best practices

Saudi financial sector achieves 353 listings, 261 fintech companies, and 79 percent digital payment growth

FSDP's 2024 report highlights achievements that enhance resilience and growth in the financial sector 

EU delays retaliatory tariffs on $24.5 billion in U.S. exports amid ongoing trade tensions

EU's retaliatory tariffs on U.S. exports are now postponed until early August, announces von der Leyen

ADIO and EFOA join forces to attract global family offices to Abu Dhabi

At the core of the agreement is a shared commitment to minimize barriers for incoming investors

Dubai climbs to 7th most expensive city for HNWIs globally: Report

This year, Singapore retained its position as the most expensive city for HNWIs globally, followed by London and Hong Kong

Global end user spending on generative AI to hit $14.2 billion this year, says Gartner

By 2028, 30 percent of GenAI deployments will be optimized using energy-efficient computation methods, spurred by sustainability goals

Dubai issues new law regulating contracting activities to enhance oversight, compliance, and transparency

Contractors must comply with new rules or face penalties ranging from AED1,000 to AED100,000

DP World signs 30-year $800 million agreement to revitalize Syria’s Port of Tartus and trade infrastructure

Tartus is Syria’s second-largest port, vital for trade routes across Europe and the Levant

Bitcoin reaches record high of $122k as institutional adoption accelerates ahead of Crypto Week

Institutional investors are adding Bitcoin to their portfolios, viewing it as a safe-haven asset 

Crude oil prices rise above $70.5 as investors watch U.S. sanctions, OPEC+ output

Brent crude futures reached $70.51, while WTI saw gains amid ongoing tariff uncertainty and sanctions