Europe

UAE and Austria discuss strategic partnership developments, boosting cooperation

The UAE-Austria non-oil trade volume grew 18 percent YoY, hitting $1 billion in the first nine months of 2023

Russian businesses eye UAE’s market for global development, expansion

Russia sees the UAE market as a promising hub for conducting trade with Middle Eastern and African countries

ADGM, Hacken partner to set new benchmarks for blockchain security and compliance

The agreement seeks to develop security standards and on-chain monitoring solutions within ADGM's DLT Foundations framework

Abu Dhabi’s ADQ acquires 49 percent stake in Plenary Group to drive public infrastructure expansion

The stake includes the shares currently owned by Canadian pension fund Caisse de dépôt et placement du Québec

IEA forecasts strong growth in electric car sales to 17 million in 2024

The IEA expects China to account for 10 million electric vehicle sales this year

ECB stays committed to multiple rate cuts despite Fed’s caution, global uncertainty

Officials highlighted that the ECB's decisions hinge on incoming data, especially regarding wages, profits, and productivity

UNCTAD forecasts 2.6 percent global economic growth in 2024, warns of urgent issues beyond inflation

This marks the third straight year of growth below the pre-pandemic average of 3.2 percent from 2015-2019

IMF’s Georgieva urges China to address economic slowdown, enhance productivity

The Managing Director highlighted concerns over the country's property crisis, called for domestic growth strategies

UAE gold prices decline as geopolitical uncertainty boosts bullion’s global appeal

Gold maintains safe-haven appeal despite Federal Reserve's stance on rates

IMF raises global growth forecast to 3.2 percent, lifts outlook for UAE, Saudi Arabia

The 2024 figure represents a 0.1 percentage point increase from the previous World Economic Outlook report in January

Egypt to build 2 solar power stations with $20.6 million in EU funding

Projects signal Egypt's commitment to renewable energy expansion and economic development

Embracing new opportunities amid shifting global economic dynamics

Insights into economic trends, entrepreneurial efforts driving growth in UAE and KSA