Turkmenistan to supply 2bcm gas to Turkiye: Turkish minister
Ankara, Turkey - Turkish Energy and Natural Resources Minister Alparslan Bayraktar announced on Friday the signing of a memorandum of...
Economy
‘UAE outpaces major nations in human development’
“These efforts ensure sustainable development across all sectors, promising a bright future for generations to come,” he adds, referring to...
Economy
Economy
UAE non-oil trade totals AED16.14 trillion in the last 10 years
The non-oil trade of the UAE has totalled AED16.14 trillion in the last ten years as the country's growth returned...
- According to Dr. Thani bin Ahmed Al Zeyoudi the UAE aims to increase the level of investment coming to the country to AED1 trillion within nine years
- "We work according to the plans of the UAE’s leadership to double national exports, foreign trade and economic growth," Al Zeyoudi said
Economy
UAE and Latvia launch economic cooperation program in six sectors
The UAE and Latvia have agreed on a six-track economic cooperation program covering trade and investment, innovation and advanced technology,...
- The program covers investment, innovation and advanced technology, transportation and logistics, agriculture, food, education and science.
- An MoU between the Investment and Development Agency of Latvia (LIAA) and the SMEs Development Department at the UAE Ministry of Economy.
Economy
Dubai to have Traffic Safety Strategy 2022-2026
The strategy’s objective is to make Dubai one of the safest cities in the world and achieve the zero road...
- The strategy’s objective is to make Dubai one of the safest cities in the world and achieve the zero road deaths vision
- The strategy will complement what has been achieved within the objectives of the National Agenda and Dubai Plan 2021
Economy
Dubai approves Savings Scheme for foreign employees in Govt
Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, approved on...
- The initiative will also ensure that Dubai remains an attractive career destination that appeals to outstanding talent
- The announcement was made during a meeting of The Executive Council of Dubai held at "Deep Dive Dubai."
Economy
Is Gulf luxury sector immune from inflation?
However, just because there is inflation doesn't mean that people aren't spending, but they are spending differently. The that sales...
- The luxury industry in the GCC, is experiencing strong growth and closed 2021 above pre-pandemic levels
- Changes in tourism flows significantly impacted the luxury market in 2020 and the first few months of 2021
Market Report
Equities rise as Powell soothes rate fears, oil presses higher
Traders were given a much-needed shaft of light on Wednesday when the Fed boss eased concerns over its plans for...
- Traders were given a much-needed shaft of light on Wednesday when the Fed boss eased concerns over its plans for tightening policy
- Powell told lawmakers he was in favour of a moderate pace of rate increases, with a 25-basis-point lift this month
Opinion
Diginomics helps revive region’s consumer confidence
It is becoming incredibly important for organisations, brands and brand owners to prioritise the refinement of their products and services....
- Armed with AI algorithms, tech startups, direct-to-consumer players, fintechs, edtechs, regional economies are becoming more digitally resilient
- It is becoming incredibly important for organisations, brands and brand owners to automate processes that are otherwise time consuming
Business
TAQA to recommend $600m dividend
The company has already paid $500m in quarterly dividends.
- The dividend payment will be in addition to the final payment of AED1.2 billion ($330 million).
- AED1.9 billion ($500 million) (1.65 fils per share) have already been paid in quarterly dividends.
Economy
Central Bank of UAE approves creation of 5,000 jobs for Emirati nationals
The Central Bank of UAE has approved the creation of 5,000 new jobs by the end of 2026 for Emirati...
- The jobs have been announced as part of the Emiratization of managerial positions in the banking and insurance sectors.
- The jobs will be created in coordination with the Emirates Institute for Banking and Financial Studies and the Emirati Talent Competitiveness Council.
Economy
UAE and Israeli firms hold 200 business meetings at Dubai event
The ‘Dubai-Israel: Future Horizons Mission’ was hosted by the Dubai International Chamber, which is one of the three chambers operating...
- The event was the focus of a high-level trade mission which was joined by 50 businessmen representing 25 Israeli companies listed in Tel Aviv Stock Exchange.
- Dubai’s non-oil trade with Israel reached nearly AED 2 billion in the first half of 2021.
Turkmenistan to supply 2bcm gas to Turkiye: Turkish minister
Ankara, Turkey - Turkish Energy and Natural Resources Minister Alparslan Bayraktar announced on Friday the signing of a memorandum of...
Economy
Company News
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Borders, culture strengthen Iran-Pakistan relations
"The economies of Iran and Pakistan are inherently complementary. For example, Pakistan can be a supplier of Iran's needs in...
Economy
Interest rate raise ‘likely’ to curb inflation, says Fed official
A US central bank official said that more interest rate hikes "will likely be needed" to bring inflation down further,...
Economy
UAE to mobilize global tech, space sectors for climate action ahead of COP28
ABU DHABI, UAE - Key UAE government entities have partnered to boost coordination between advanced technology and space sectors. The...
Economy
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Geostrategy
Protests mark Beirut blast anniversary as justice eludes victims’ families
Hundreds of protestors marched alongside victims' families demanding long-awaited justice as the country marked three years since one of history's...
- There is no headway in the probe three years on, leaving survivors still yearning for answers
- Many protestors carrying photograpsh of the victims shouted slogans: "We will not forget"
Economy
Emiratis make up 74% of Federal Authority for Nuclear Regulation workforce
Abu Dhabi, UAE-- In 2022, Emiratis represented 74% of the Federal Authority for Nuclear Regulation (FANR) 248 employees. FANR continues...
- According to FANR 2022 annual report, the body continues to attract talented Emiratis to meet its business needs, recruiting 22 citizens during the review period
- The report said that women comprise of more than 45 percent of FANR's overall workforce and hold leadership positions in key areas of the organisation
Business
Dubai Investments net rises to $157m
Real estate sector remains one of the key business verticals.
- Total income for the Group increased by 31 percent from US$422 million (AED 1.55 billion) in H1 2022 to US$552 million (AED 2.03 billion) during H1 2023.
- Total shareholder equity increased to US$3.5 billon as of June 30 2023, compared to US$3.5 billion (AED12.84 billion) as of year ended December 31 2022.