Abu Dhabi residential sector achieves record growth in 2023, says report

• The increase in demand for residences has been driven by several positive initiatives and announcements by the government.
• Off-plan transactions accounted for approximately 84 percent of all villa and townhouse transactions.

WTO agri reforms key to global food and climate goals

• Australia emphasizes the need for agricultural trade reforms at the WTO for global sustainability.
• Trade Minister Don Farrell leads discussions on trade reforms to combat poverty at WTO's MC13.

Saudi Arabia permits over 350 firms to open regional HQ, mostly in Riyadh

• Minister of Investment Khalid Al Falih said the Kingdom is transforming comprehensively through Vision 2030 by turning its economy green.
• He highlighted that new economic sector like the digital economy, and tourism will immensely develop human capital, demanding diverse skills and a new global outlook.

UAE presses for ‘sustainable development policies’ at BRICS meeting in Brazil

• Al Hussaini said the UAE aims to boost cooperation between emerging and developing economies and set up governance frameworks on a global level
• The minister said they expect more fruitful collaboration among the group’s nations, which are increasing in importance and role in international affairs

Abu Dhabi sees 67% annual rise in number of AI company registrations

• The study highlights on Abu Dhabi’s ambitions to maximize the benefits of utilizing AI systems, applications, technologies, and solutions
• In recent year, Abu Dhabi Chamber has adopted innovation and digital transformations and implemented supportive policies

UAE sets innovative media policy to propel the country onto global stage

• The roadmap emphasizes the importance of aligning national efforts and creating partnerships to boost the UAE’s media sector.
• It aims to develop a media industry that embraces global cultures, driven by innovation and youth leadership.

Israel minister says Arab trade ties unfazed by Gaza war

• When asked about Israel's economic losses due to the war, Barkat said it could add "anywhere between 150 to 200 billion shekels ($42-55 billion)" to the country's national debt
• Barkat said Gaza war could help Israel boost sales of military technology, noting there is "high interest" from many countries, without specifying if Arab states were among them

Geopolitical risks, sanctions keep commodity markets on edge

• The report said many participants emphasized the risks of moving too quickly and noted the importance of carefully assessing incoming data
• The recent data revealing a weakening demand in the US restricted the rise in oil prices, as the crude oil stocks in the country increased by 7.1m barrels

IMF predicts soft landing for global economy, yet growth remains muted

• A soft landing, described as an economic slowdown resulting from a central bank's cautious interest rate increases, aims to avoid a recession
• The IMF suggested that global economic growth could surpass expectations if disinflation progresses faster than anticipated, prompting earlier monetary policy easing

Arab League organizes workshop to discuss BRICS role in MENA region