INSEAD Day 4 - 728x90

Samsung biggest chip investor

The tech giant invested nearly $59.2bn in 2025.

flynas to set up new hub

Five destinations in first phase of operations.

AD Ports Group acquires CLI

CLI is Brazilian agri-bulk terminal operator.

$1.59bn Makkah project awarded

A consortium will develop two districts in the Holy City.

2PointZero posts profit surge

Growth driven by merger consolidation.

Austrian university develops technique to renew buildings without demolition

Vienna, Austria - A research team from Graz University of Technology in Austria has succeeded in developing an innovative fastening...

Science

Dubai GDP grows by 4 percent to reach $32.58 billion in first quarter of 2025

Human Health and Social Work activities registered the highest growth rate, rising 26 percent compared to the same period last...

Economy
Economy

UAE’s global merchandise trade crossed $1trn mark in 2022: WTO

Based on data from the WTO, the UAE's export values in 2022 grew by 41%, while imports made up 22%...
  • Exports grew 41 pecent to $599 billion in 2022, accounting for 2.4 percent of the global merchandise exports share
  • The UAE ranked 11th in terms of exports of commodities and was the 18th importer of global merchandise goods trade
Business

UAE, Vietnam begin process for economic partnership pact

Abu Dhabi, UAE - The UAE and Vietnam signed Thursday a declaration of intent to start negotiations for a comprehensive...
  • The UAE is the leading trade partner of Vietnam in the Arab region, accounting for 39 percent of Vietnamese trade with the region’s countries.
  • The two sides discussed ways of strengthening their cooperation in the areas of trade, investment, the new economy, industry and energy.
Economy

IMF approves $5bn under flexible credit line for Morocco

Washington, USA - International Monetary Fund (IMF) approved SDR 3.7262 billion ($5 billion) on a two-year arrangement for Morocco under...
  • Morocco has benefited from four Precautionary and Liquidity Line (PLL) arrangements since 2012, each totaling about US$ 3 billion.
  • The first PLL was approved on August 3, 2012, followed by three more approvals on July 28, 2014, July 22, 2016, and December 17, 2018.
Business

Prominent firms in DIFC to tap into wealth across region

DUBAI, UAE -  Over 300 prominent wealth and asset management (WAM) firms have established themselves in Dubai International Financial Center...
  • The financial center's 300 wealth and asset management firms should help in providing a conducive environment for businesses in the region.
  • DIFC's world-class legal and regulatory framework and access to competitive markets have bolstered the depth of its asset management ecosystem.
Business

Abu Dhabi sees 40 percent drop in labor dispute cases

ABU DHABI, UAE - Labor disputes in Abu Dhabi plunged by 40 percent in 2022 compared to the same period...
  • The companies and individuals' increased awareness of laws in force in the country played a key role in the results, official said.
  • The Abu Dhabi Judicial Department ran multiple campaigns to enhance the knowledge of workers' rights under UAE's labor laws.
Business

DMCC posts record Q1 growth as 708 firms register

A total of 3049 new companies joined DMCC in 2022.
  • This is DMCC's best performance in Q1 since its inauguration in 2002, marking a 8.4% increase year-on-year.
  • The best performing sectors for DMCC was its traditional core markets, which showed strong results in businesses from various countries.
Arts & Culture

UAE highlights ways to enhance education system at UK meet

DUBAI, UAE - A UAE group highlighted its technological programs and initiatives aimed at boosting the educational system and reviewed...
  • The UAE emphasized the significance of the event to explore the future of EdTech and ways to benefit from its applications.
  • It has launched initiatives that attract international academic expertise to improve the integrated educational model.
Science

Dubai Chamber reviews software development, Artificial Intelligence sector

DUBAI, UAE - Dubai Chamber of Digital Economy highlighted software development and artificial intelligence (AI) industry in its 10th session...
  • Various executives, business leaders and experts of the digital industry discussed at length the challenges and opportunities present in the sector
  • Dubai aims to become a top destination for global digital investment and tech talent and is attracting software development professionals,
Economy

Miami to host next edition of Global Priority Summit in 2024

According to FII CEO Richard Attias, the report on the Global Priority Summit will be ready by October 2023, and...
  • The summit emphasized the significance of motivation and collaborative efforts as crucial factors for the achievement of Saudi Arabia's Vision 2030
  • The FII CEO Richard Attias noted that what made the global conversation at the Miami Summit remarkable was that all speakers mentioned Saudi Arabia as a standard model
Science

WTO 2023 to put spotlight on trade role in sustainable future

GENEVA, SWITZERLAND - The WTO’s annual Public Forum 2023 will focus this year on how trade can contribute to a...
  • The Forum will examine in particular how the services sector, digitalization and inclusive trade policies can support global environmental goals.
  • Sessions at the Public Forum are organized by representatives from civil society, academia, business, government and international organizations.

Austrian university develops technique to renew buildings without demolition

Vienna, Austria - A research team from Graz University of Technology in Austria has succeeded in developing an innovative fastening...
Science

Company News

Tabby launches in Egypt

FAB, Silver Birch announce partnership

Jahez posts profit of US$14.2m

Gulf Navigation repays loan

Pure Health to invest US$500m

Latest News

Qatar real estate trading volume amounts to US$382m in February 2024

DOHA, QATAR – The volume of real estate trading in sale contracts registered with the Real Estate Registration Department at...
Business

Potential investors value Telegram at $30bn, says co-founder Pavel Durov

MOSCOW, RUSSIA – The Telegram is valued by potential investors at more than US$30 billion, the co-founder of the social...
Business

Situation in Red Sea has a limited impact on food exports so far, says FAO

ROME, ITALY – The situation in the Red Sea has not yet been reflected in the pace of prices for...
Economy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Business

UAE, NeoNautica collaborate to develop Blue Pass platform

DUBAI, UAE – The Ministry of Energy and Infrastructure has signed a collaboration agreement with NeoNautica, a company specialized in...
  • This will help enhance the competitiveness of the national maritime sector, promote its attractiveness to international investors.
  • This strategic expansion aims to position the UAE as the premier logistical partner for global trade and further consolidate its leadership in the lindustry.
Business

DMCC registers 2,692 new companies in 2023, its second-best year on record

Dubai, UAE -- A total of 2,692 new companies joined Dubai Multi Commodities Centre (DMCC) last year, bringing the total...
  • The launch of new industry ecosystems, the expanded service offerings and the physical growth of the Uptown Dubai district boosted the performance.
  • DMCC said it accounted for 11 percent of Dubai’s total FDI inflows and cemented its status as a global hub for trade in commodities like diamonds and precious stones.
Business

Amman Chamber of Industry exports for January-February 2024 reaches $1.3bn

AMMAN, JORDAN - Amman Chamber of Industry (ACI) exports amounted to US$1.3 billion (JD926 million) during the last two months...
  • During the first two months of 2024, India, the US, Saudi Arabia and Iraq accounted for the majority of ACI’s exports.
  • The chamber's exports to the US surged during the first two months of 2024 to about US$297 million compared to US$275 million.