Economic outlook brightening but political risks loom large in 2024, say chief economists
Geneva, Switzerland – The latest Chief Economists Outlook released on May 29 presents a growing sense of cautious optimism about...Economy
France and UAE sign AI cooperation deal
France and the United Arab Emirates on Tuesday signed a "strategic partnership" on artificial intelligence (AI) aimed at boosting cooperation...Economy
UAE one of fastest-growing economies in 2022: CBUAE
Abu Dhabi, UAE - The UAE’s real GDP growth accelerated during 2022 due to a robust recovery in non-oil GDP...The growth came despite higher inflation, tightening financial conditions and continued geopolitical tensions
It was boosted by the removal of most COVID-19-related curbs and a recovery in global travel and the tourism
Saudi Arabia harnesses technology to boost tourism sector
VR and AR technologies offer tourists pre-visit virtual explorations of cultural and natural sites, driving engagement and anticipation. Onsite, the...Technologies such as Virtual Reality, Augmented Reality, E-visas, and e-payment systems are enhancing the tourist experience in the Kingdom, say experts
NEOM, which epitomizes Saudi Arabia's innovative approach, is set to become a global showcase of advanced design and digital experiences, they add
US banks express caution on economy as Fed rate hikes boost earnings
Results of large US banks released underscored the boon from higher interest rates, as executives described the world's biggest economy...JPMorgan and Wells Fargo both reported huge increases in second-quarter profits.
Citi experienced a drop, citing an anemic investment banking market for revenue drop.
UAE banking sector is resilient, says CBUAE in its report
ABU DHABI, UAE - The Central Bank of the UAE (CBUAE) on Friday issued its Financial Stability Report for 2022.The...The report discusses global, local macroeconomic conditions, domestic asset markets and provides a detailed assessment of the UAE banking system.
The report also contains an analysis of other important developments across the UAE financial sector such as digitalization and sustainability.
UN says over 165m people fell into poverty in 3 years of crisis
UNITED NATIONS - The COVID-19 pandemic, the cost-of-living crisis and the war in Ukraine have pushed 165 million people into...The COVID-19 pandemic, the cost-of-living crisis and the war in Ukraine have pushed 165 million people into poverty since 2020, the UN said.
Because of these shocks, the United Nations has called for a pause in debt repayments for developing countries.
China’s trade in goods with Belt and Road countries up 9.8% in H1
Beijing, China - China's trade in goods with nations along the Belt and Road Initiative in the first half of...Trade in goods with countries along the Belt and Road accounted for 34.3 percent of China's total import and export value of $2,8 trillion
The Belt and Road Initiative (BRI) is a global infrastructure development strategy adopted by the Chinese government in 2013
UAE and Mozambique sign MoU to improve ‘work cycle’ for workers
Dubai, UAE--The UAE and Mozambique have signed a memorandum of understanding (MoU) in the field of workforce to improve the...The UAE minister said the MoU establishes an institutional partnership between the two ministries to maximize mutual benefits
He said the UAE government is keen to build partnerships around the world, which, he feels, builds trust in the country's labor market
Dubai Customs and Japan’s consulate discuss expansion of trade ties
Dubai, UAE-- Officials from Dubai Customs and Japan's consulate have discussed ways to boost trade cooperation between the two countries...The officials noted how collaboration with Dubai was enabling Japan's traders and investors to expand their businesses in Dubai
The consulate officials conveyed their appreciation for Dubai Customs' role in combating drug smuggling across borders
Qatar hosts over 2m visitors in first half of 2023
Doha, Qatar - Qatar Tourism said on Thursday that the country received more than two million visitors during the first...Saudi Arabia remain the top source market for international visitors this year, contributing to nearly a quarter of all arrivals
May and June registered the highest figure - 567 thousand - ever recorded for these two months in the last ten years
Abu Dhabi crown prince reviews progress of government projects in emirate
Abu Dhabi, UAE-- The Crown Prince of Abu Dhabi and chairman of the Abu Dhabi Executive Council Sheikh Khaled bin...The crown prince stressed the need for investing in early education and how it is integral to building a "future-ready generation"
In the meeting he noted the importance of achieving a fully integrated and sustainable roadmap, involving all stakeholders
