Stocks mostly rise, oil falls as Trump fans Ukraine peace hopes
London, United Kingdom -- Major stock markets mostly rallied and oil prices retreated Thursday on hopes for an end to the...Business Economy
UAE non-oil foreign trade up by 14.6% in 2024 to reach $816bn
Abu Dhabi, UAE -- UAE's non-oil foreign trade increased by a record 14.6 percent in 2024, compared to 2023, reaching...Business Economy
Ruwad approves financing for several projects in various sectors
Sharjah, UAE-- Ruwad, or the Sharjah Foundation to Support Pioneering Entrepreneurs (Ruwad), has approved the financing of three projects after...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 president met with a string of leaders from the Arab world and the European Union and discussed ways to...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
In just few years, Saudi Arabia has leapt up the global rankings to become a leading destination for international tourists,...Strong growth key to GCC’s FDI appeal
Saudi Arabia has reentered into this year's Kearney FDI Confidence Index, which ranks the markets likely to attract the most...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, UAE - Keeping pace with the UAE’s strong economic growth, Dubai Customs cleared 14 million customs transactions during the...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
DUBAI, UAE - In Dubai’s economic growth story, family businesses stand tall as architects of growth, innovation and value creation....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
Cairo, Egypt--Egypt and Indonesia will ramp up trade exchange as the two countries look to strengthen the overall ties.This came...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
The Fed paused its aggressive campaign of monetary tightening last month to give policymakers more time to assess the health...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
Doha, Qatar-- Qatar has recorded a 70 percent growth in annual foreign direct investment (FDI) between 2019 and 2022. Just...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’
“As we continue to witness an ever-changing pace of development and technological advancement, regulating employment and improving human resources’ skills...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
