#Economy

Key trade deal brings UAE, Mauritius closer together

The UAE and Mauritius, in first-of-their-kind negotiations, are set to boost each other’s economies in years to come with key trade deals in the pipeline

S&P Global affirms positive outlook on Bahrain

Bahrain notched up 2.45% growth in third quarter of 2023

The Kingdom of Bahrain showcased healthy GDP growth for the third quarter of 2023, according to the latest statistics revealed by that country.

UK

Has UK economy entered a recession? Q3 data suggest so

UK Finance Minister Jeremy Hunt said the outlook for the economy was not as bad as the updated official figures suggested

Dubai economy sees growth in H1 2023 -GettyImages-1392301478

UAE central bank raises GDP growth outlook to 5.7% in 2024

The apex lender projected that the country’s overall GDP will grow by 3.1 per cent in 2023

Wickremesinghe

WATCH: Ranil Wickremesinghe on resurrecting Sri Lanka’s economy

In this interview, Sri Lankan President, Ranil Wickremesinghe, talks in-depth about his country’s economic reforms and climate plans.

rupee

India’s rupee hits fresh new low against UAE dirham

India’s currency has weakened slightly against the UAE dirham in early trade, mainly off the back of dollar strength

ADDED launches SME finance facilitator programme

ADDED launches SME finance facilitator programme

The programme aims to foster trust between SMEs and financial institutions, and lead to collaborative credit assessment

Dubai

Dubai safety inspections target almost 15,000 construction sites

The safety campaign in Dubai throughout this year has targeted all engineers, consultants, supervisors, workers and consulting companies present at these sites

Growth in Dubai’s non-oil sector accelerates in October

Growth in Dubai’s non-oil sector accelerates in October

Business optimism and expectations for future activity growth hit its highest since February 2020

UAE PRESIDENT MEETS WORLD BANK CHIEF

UAE President Sheikh Mohamed bin Zayed meets World Bank President Ajay Banga

The meeting also addressed global economic conditions, the economic impact of crises, and the World Bank’s support for the upcoming UN climate conference

Saudi Arabia - Riyadh Image Getty Images

Saudi Arabia: Inflation eases further in Sept to 1.7%, marks drop from Aug

The main driver of CPI inflation in September was higher prices of housing, water, electricity, gas and other fuels, and restaurant and hotel prices

Dubai economy sees growth in H1 2023 -GettyImages-1392301478

Dubai: Economy grows 3.2% in H1 2023

The economy’s total value has reached Dhs223.8bn

Abu Dhabi’s non-oil economy grew 12.3% in Q2 2023

Abu Dhabi’s non-oil economy grew 12.3% in Q2 2023

The financial sector grew nearly 30 per cent year-on-year, with the value-added by the industry surging more than Dhs18bn

UAE economy to grow 3% in 2023, says S&P Global

UAE economy to grow by 3% in 2023, says S&P Global

The government has implemented comprehensive economic and social initiatives that are designed to set the stage for sustained and long-term growth

IMF on Saudi Arabia economy

Saudi economy enters trillion dollar club: report

According to the IMF, the Saudi economy was the fastest growing among the Group of Twenty (G20) member states in 2022

UAE and Serbia in talks to establish CEPA _ Image courtesy WAM

UAE, Serbia in talks to establish CEPA

The UAE is the third-largest market for Serbian exports, with non-oil trade between the two countries in H1 2023 hitting $57.6m

UAE posts budget surplus in 2022, revenues up 31.8%

UAE posts budget surplus in 2022, revenues up 31.8%

State expenditures rose moderately in 2022, with an increase of Dhs24.7bn compared to a year earlier

How AIX is unlocking Dubai’s investment potential

AIX Investment Group is showcasing Dubai’s potential for real estate investor

From premium residences to ultra modern commercial spaces, the city’s real estate market offers diverse and lucrative opportunities for investors

UAE, New Zealand enter preliminary talks on CEPA

UAE, New Zealand enter preliminary talks on CEPA

The two countries already share a productive trade relationship, with non-oil trade reaching $805m in 2022

Saudi Arabia esports

Saudi Arabia unveils master plan for logistics centres

The kingdom will build 59 logistics centres with a total area of more than 100 million square meters

Oman’s GDP up 4.7% in Q1 2023

Oman’s economy grows 4.7% in Q1, boosted by non-oil activities

The economic growth was boosted by a 4.6 per cent gain in the non-hydrocarbon sector and a 3.5 per cent increase in oil activities.

Saudi Arabia plans to issue $9.6bn in sukuk after buyback GettyImages-1464744716-1

Saudi Arabia plans to issue $9.6bn in sukuk after buyback

HSBC Saudi Arabia, Al Rajhi Capital, SNB Capital, and AlJazira Capital have been appointed as joint lead managers to lead the transaction

UAE MoF announces strategic plan_Photo-courtesy WAM MoF

UAE: Ministry of Finance announces strategic plan for 2023-2026

The plan will develop financial policies to promote economic growth, create a competitive business environment and strengthen international economic relations

UAE joins BRICS

UAE’s GDP grows 3.8% in first quarter to $114bn

The country’s non-oil activities grew by 4.5 per cent year-on-year in the quarter to Dhs312bn

Abu Dhabi Real estate FDI see 363 per cent rise in H1 2023 Saadiyat Island_Image courtesy WAM

Abu Dhabi real estate sector attracts Dhs834m in FDI in H1 2023

This represents a robust rise of 363 per cent compared to the same period in 2022

UAE-Japan Business Forum Image credit WAM

UAE, Japan ink 23 agreements, MoUs during business forum

The agreements cover sectors including energy, industry, advanced technology, AI, space, health, transport, conservation and circular economy

UAE, India trade hit Dhs1.41tn mark over 10-year period

UAE-India trade touches Dhs1.41tn over 10-year period

From 2013-2022, the trade growth rate between the two countries was 18.2 per cent, growing from Dhs159.72bn to Dhs188.8bn

Saudi oil production cuts

Saudi oil cuts could trigger slowdown in economy

The economy will fall by 0.1 per cent this year if the government raises production in September and by 1 per cent if it holds the course for the rest of 2023

RAKEZ signs MoU with Manufacturers’ Association of Israel

UAE’s RAKEZ signs MoU with Manufacturers’ Association of Israel

The economic freezone seeks to provide an adaptive and supportive ecosystem for investors looking to expand their horizons and businesses

Dubai SME members awarded Dhs1.12bn in contracts in 2022 Image credit GettyImages-1214946297-e1682524082437

Dubai SME members receive Dhs1.12bn in contracts in 2022

The contribution of Dubai government bodies was worth Dhs552.51m, while federal government entities granted contracts worth Dhs88.2m