UAE’s economy rides on tech and renewable energy
"The UAE's dedication to innovation and international partnerships as vital to enhancing its position on the global economic stage, bolstering...
Economy
Female founders flourish in UAE’s startup ecosystem
Over the past decade, the UAE has become a global hub for innovation and entrepreneurship, attracting significant interest from international...
Economy
Business
Bahrain cuts truck wait duration by 15 times
Bahrain’s Customs president hailed importers, traders, and customs agents for the achievement.
- Bahrain said it has reduced the average waiting period for such loaded trucks to just 52 minutes in the first half of August
- This was in comparison to the 757 minutes — more than 12 and a half hours — in the previous years
Economy
Three in four in Lebanon are living in poverty: UN body
That number goes up to 5 out of 6 people when one redefines poverty beyond the usual fiscal lines and...
- Between June 2019 and June 2021, the inflation rate in Lebanon amounted to 281 percent
- This led to a rise in income poverty from 25 percent in 2019 to almost 74 percent in 2021
Economy
UAE pulls up underperforming tax authority, energy ministry
The UAE has said some underperforming government offices and ministries have 90 days to improve their digital services.
- The findings were based on a public poll announced three months ago to gauge efficiency of digital services by government entities
- As part of the poll, 55,000 people gave inputs on the digital services provided by 30 government agencies
Economy
Airbus joins DAX’s 10 new members
From Sept 20, the index of 30 firms will bring its total membership to 40 firms.
- From September 20, the index of 30 companies will bring its total membership to 40 firms, becoming the DAX 40
- Other additions include Puma, Siemens Healthineers, a subsidiary of the already DAX-listed company Siemens, as well as meal-kit company HelloFresh
Economy
Africa data centre expansion plan to cover Morocco, Tunisia, Egypt
The project will involve building 10 hyperscale data centres, in 10 countries, over the next two years at a cost...
- The project will involve building 10 hyperscale data centres, in 10 countries, over the next two years at a cost of more than US$500m
- It is being funded through new equity and facilities from leading development finance institutions and multilateral organisations
Economy
Saudi Arabia’s PIF, Tadawul Group plan carbon trading platform
Companies and institutions seeking to reduce their emissions will increasingly turn to the platform to trade carbon credits
- Companies and institutions seeking to reduce their emissions will increasingly turn to the platform to trade carbon credits
- Its purpose is to align with regulatory entities to develop methods, business models, and governance practices to reduce climate change effects
Why Golden Residency is not a privilege
Global economic transformation has pushed governments to implement various programs and reform investment rules to make them more flexible to...
- The UAE is the only Middle Eastern country that issues Golden Visas.
- In 2010, the first golden visa program was launched in Latvia.
Analysis
GCC can help shipping industry curb emissions
Saudi Arabia and the UAE are already off the starting mark in their efforts to supply alternative fuels to the...
- Hydrogen requires high-pressure tanks when stored as a gas or temperatures of -253°C when stored as a liquid
- Ammonia can be used as marine fuel as the conversion process is economical and involves little fuss
Economy
Leaders mull Arab Center for Food Security
The 22-member Arab League and its legislative body, the Arab Parliament, are planning to establish a food-security body.
- The organization would be expected to enhance social and economic security in the region
- It would also be expected to achieve sustainable development goals in Arab countries
Economy
UAE sends plane carrying urgent food, medical aid to Afghanistan
The UAE foreign ministry confirmed to AFP that "this is the first (Emirati) aid flight since the recent events in...
- The UAE foreign ministry confirmed to AFP that "this is the first (Emirati) aid flight since the recent events in Afghanistan".
- The UAE is one of a number of Gulf states that have been instrumental staging posts for evacuation flights for foreigners and Afghans, along with Qatar, Kuwait and Bahrain
Most Read
Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
UAE’s economy rides on tech and renewable energy
"The UAE's dedication to innovation and international partnerships as vital to enhancing its position on the global economic stage, bolstering...
Economy
Company News
Microsoft, G42 sign MoU
Business
Latest News
Future of Iran-UAE relations promising: Reza Ameri
Tehran, Iran-- The future of relations between Iran and the United Arab Emirates is promising and in line with the...
Geostrategy
Dubai Customs thwarts 2,600 attempts in last three years to smuggle drugs
Dubai, UAE-- Dubai Customs has scuttled nearly 2,600 attempts during the last three years to smuggle drugs, combating a concerted...
Economy
Germany gears up for continued recession after years of bloom
BERLIN, GERMANY - On his many visits to semiconductor factories and electric car plants, Germany's Chancellor Olaf Scholz bangs the drum...
Economy
Most Read
Geostrategy
UAE discusses tourism with India, UK, Indonesia and Japan
NEW DELHI, INDIA - UAE Minister of Economy and Head of the Emirates Tourism Council Abdullah bin Touq Al Marri...
- The UAE is keen on developing tourism ties with countries and building partnerships in fields that supports economic, social growth and prosperity.
- The UAE had adopted a forward-looking vision to develop a distinguished tourism sector at the regional and global levels.
Business
Sharjah real estate transactions in May valued at US$653m
SHARJAH, UAE - The emirate's real estate activity during May 2023 logged a total value of US$653 million (AED 2.4...
- The report issued by Sharjah Real Estate Registration Department revealed that 3,540 transactions were recorded in various regions across the emirate.
- The report indicated that the real estate sector has maintained its leading position as a preferred choice for those wishing to buy or invest in Sharjah.
Economy
UAE GDP up 7.9% in 2022 on strong non-oil sector performance
Minister of Economy Abdullah bin Touq Al Marri said that the strong GDP growth was due to the government's forward-looking...
- The UAE's GDP at constant prices totaled AED1.62 trillion in 2022, while non-oil GDP at constant prices reached AED1.174 trillion.
- Al Marri noted that the UAE's GDP per capita has grown by an unprecedented rate of 24.7 percent in the past six years, the highest in the GCC region.