#Economy

Dubai Future Fellowship launched by Sheikh Hamdan photo Dubai Media Office

Sheikh Hamdan launches Dubai Future Fellowship

The programme’s goals will be supported by an international network of fellows known for their achievements in government, technology and future sectors

UAE new corporate tax

UAE to offer corporate tax relief to small businesses

The tax relief seeks to support startups and other small businesses by reducing their corporate tax burden and compliance costs

EY projects $42.2bn boon to UAE economy from Expo 2020 Dubai

The pre-event phase contributed around one-quarter of gross value and the legacy phase will add 62 per cent

Bahrain GDP 2022 growth. Image by EDB

Bahrain’s economy expands by 4.9% in 2022, the fastest in a decade

The country’s non-oil sector grew by 6.2 per cent in 2022, the highest growth rate recorded over the past ten years

UAE cabinet meeting March 2023 photo courtesy WAM

UAE approves 24 national initiatives, aims to double re-exports in 7 years

Additionally, the UAE cabinet meeting reviewed more than 19 initiatives to attract talent to the country

Islamic Digital Economy

Startups injecting fresh innovations to Malaysia’s Islamic Digital Economy

The ASEAN nation continues to be an excellent market for Islamic fintech players to make a mark in the region

S&P Global, Moody’s raise Saudi Arabia rating on reform agenda

Fitch Ratings, one of the big three rating agencies, assigns Saudi Arabia the same score as S&P Global while Moody’s has it one level higher

PIF unveils 3 private sector initiatives. Image by PIF

Saudi Arabia’s PIF unveils three initiatives to boost private sector growth

The strategy aligns with the fund’s aim to support the private sector in increasing its contribution to GDP by up to 65 per cent by 2030

Abu Dhabi’s Etihad announces flash sale, offers 20% discount

Abu Dhabi’s Etihad announces flash sale, offers up to 20% discount

The promotion is valid on return and one-way journeys on Etihad-operated flights booked on the carrier’s website

Art

How art is being incorporated into investment portfolios for diversification

Developments within the art market over the last decade have been followed almost as closely as those within the stock market

Saudi Arabia GDP 2022

Saudi Arabia’s 2022 GDP grows 8.7 per cent, boosted by higher oil prices

The country’s GDP crossed the $1tn mark for the first time in 2022 as higher oil prices boosted government revenues

Gold

Gold steady as traders wait for Fed chair to take center stage

Spot gold was little changed at $1,845.34 an ounce as of 8:52 a.m. in Singapore, after falling 0.5 per cent on Monday

Dubai Chamber introduces Business Sectors Platform

Dubai Chamber of Commerce launches Business Sectors Platform

The platform features a comprehensive set of specialised services to enhance communication between the chamber and private sector

Lorenzo Jooris on UAE-China ties

Opinion: Why the re-opening of China is good news for UAE’s economy

In 2021, non-oil trade between the two countries totalled almost $60bn, resulting in a 27 per cent growth on the previous year

Abu Dhabi economy achieves 10.5% growth in first 9M of 2022

Abu Dhabi economy shows 10.5% growth in first nine months of 2022: SCAD

Non-oil sectors contributed 50.3 per cent to the GDP, with an increase of Dhs39bn compared to the same period in 2021 to reach Dhs417.3bn in total by the end of Q3 2022

Microsoft continues to commit heavily to education and skilling initiatives.

Power Letters 2023: Naim Yazbeck, general manager, Microsoft UAE

Microsoft continues to commit heavily to education and skilling initiatives

Saudi's King Salman appoints new central bank governor

Saudi’s King Salman appoints new central bank governor

Former governor, Dr Fahd Al-Mubarak, takes on the role of adviser at the royal court

Abu Dhabi Chamber launches new strategy to boost economy

Abu Dhabi Chamber launches new strategy to boost economy

The chamber has focused on six strategic objectives, in its 2023-2025 strategy

Dubai records 5.5% growth in energy demand in 2022

Dubai records 5.5% growth in energy demand in 2022

Energy demand last year reached 53,180 gigawatt-hours, compared to 50,401 gigawatt-hours in 2021

Saudi Arabia

Saudi Arabia’s economy grows by 8.7% in 2022

The kingdom’s real GDP grew by 5.4 per cent during the fourth quarter of 2022

UAE President visits Pakistan

UAE President visits Pakistan

The two sides reviewed several regional and global issues of mutual concern and exchanged views

Saudi Crown Prince Mohammed bin Salman, Prime Minister and Chairman of the Events Investment Fund

Saudi Crown Prince launches Events Investment Fund, aims to boost culture, tourism, sports sectors

The fund will conceptualise, finance and oversee development of more than 35 venues by 2030, with the aim of delivering its first asset by 2023

Dubai real estate transactions cross Dhs500bn photo courtesy Dubai Media Office

Dubai’s real estate sector marks major milestone, value of transactions crosses Dhs500bn in 2022

A total of 122,658 real estate transactions were registered in Dubai in 2022, an increase of 44.7 per cent from 2021

UAE President receives Azerbaijan's head of state

UAE President receives Azerbaijan’s head of state

The president of Azerbaijan, Ilham Aliyev, is paying a working visit to the UAE

Dubai economic growth plan d33

Here’s what Dubai’s ambitious D33 agenda aims to achieve

The first set of projects includes the Dubai Unified License that will provide a unique commercial identity for all companies across economic zones

Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai_courtesy_Dubai Media Office

Sheikh Mohammed launches Dubai Economic Agenda, ‘D33’ aims to double size of economy in 10 years

The agenda includes 100 transformative projects with economic targets of Dhs32tn over the next 10 years

IMF

UAE economy survived economic impact of Covid-19: IMF official

According to the latest IMF report, UAE GDP growth is projected to reach above 6 per cent in 2022, up from 3.8 per cent last year

Gold

Gold climbs to four-month high as reopening bets weaken dollar

Gold tends to have a negative correlation with the dollar and rates as it does not bear interest and is priced in the US currency

OPEC+ pauses as volatility, China Covid rules roil crude markets

The decision by the Organization of Petroleum Exporting Countries and its allies should hold for at least a few months

Qatar executives bullish on growth

Qatar executives optimistic about future economic growth, reveals EY report

Qatar’s tourism, hospitality, and real estate sectors show the most promise to drive growth