Ruwad approves financing for several projects in various sectors

• In the second quarter of this year, Ruwad received some 102 application from projects for the Ruwad membership, of which 66 were approved
• According to Ruwad, the food sector stood at top of the list that secured the membership during the second quarter of 2023

UAE president meets with Arab and EU leaders in Italy

• The UAE has announced a contribution of US$100 million to support developmental projects in countries affected by irregular migration
• The heads of the European Commission and the European Council, and the Tunisian president and Lebanese PM applauded the UAE for the aid

Tourism turns the Kingdom into a rising global star

Strong growth key to GCC’s FDI appeal

• The optimism stems from strong economic growth, which is expected by IMF to reach 3.6% in 2023, higher than the global average of 3.3%.
• The GCC region is especially ripe for FDI, as the high demand for oil and gas is expected to continue to spur the growth of economies in the region.

Dubai Customs processes over 14m transactions in first six months of 2023

• Dubai Customs revealed that business registration service transactions went up 7 percent, recording 143,000 service requests.
• Customs declarations stood at 12.3 million transactions, accounting for 88 percent of the total number of customs transactions.

Dubai seeks to unleash high-powered growth for its family business sector

• The government is introducing initiatives to future-proof family businesses and bolster their competitiveness and growth capabilities in a global environment.
• Dubai has introduced new legislative measures aimed at helping them navigate the challenges and opportunities brought by a global economy in transition.

Egypt and Indonesia to ramp up trade exchange

• Both agreed to give a fillip to Indonesian investments in Egypt benefiting from the incentives offered by the Suez Canal Economic Zone
• Egypt and Indonesia also reviewed all agreements and memos signed between the two nations over the past years

US Fed likely to hike interest rates to 22-year high

• Futures traders now assign a probability of more than 99 percent that the Fed will hike its base rate by 25 basis points
• Some economists predict another rate hike as soon as the Fed's next rate meeting, while others think it could hold rates steady

Qatar records 70% growth in annual FDI between 2019 and 2022

• IPA Qatar said it has succeeded in luring FDI and building a world-class business environment, boosting Qatar's image on the global stage
• It has also played a leading role in policy advocacy, making 70 policy recommendations, apart from creating a better business environment

‘UAE committed to global sustainability, job creation’

• About 97 percent of private sector workers in the UAE, including gig and platform economy workers, are insured under local laws, highlights a UAE minister
• More than 70 percent of workers are registered in the Unemployment Insurance Scheme, providing temporary financial income for those who lose their jobs