UAE’s tech industry set to achieve record growth in 2025
Abu Dhabi, UAE - The UAE’s technology industry is set to achieve record growth in 2025, driven by significant expansion...Technology Economy
Dubai ranks among world’s top 10 cities in Global Power City Index for second consecutive year
Dubai, UAE - Dubai has been ranked eighth worldwide and first in the Middle East in the Global Power City...Economy
UAE is the most popular destination for global workers, says report
Dubai, UAE – The United Arab Emirates is the most popular country for international talent seeking employment visas, a report...France, the United Arab Emirates, India, Turkey, and the United Kingdom were the top destinations for UAE recruiters.
This trend underscores the UAE's commitment to fostering a diverse and vibrant multinational workforce.
China economic slowdown to continue for the next four years, says IMF
BEIJING, CHINA - China's economic slowdown is likely to persist in the coming years as the Asian giant struggles with sagging...The world's second-largest economy last year saw some of its slowest growth in decades
A debt crisis in the property sector added to geopolitical tensions and weakening global demand.
Saudi Arabia launches program to boost exports
Riyadh, Saudi Arabia - Saudi Arabia has embarked on a program to equip Saudi exporters with the necessary information on...General Authority for Foreign Trade, through its Agency for Private Sector Affairs and International Representation, has launched workshops called "Through the Attachés"
The Foreign Trade Authority, with a focus on boosting exports, and safeguarding trade interests, plays a critical role in developing the national economy
WEF24: Corruption puts institutions, growth at risk
Despite existing laws, global corruption has not decreased due to lack of enforcement and judicial independence, Francois Valerian of Transparency...Despite existing laws, global corruption has not decreased due to lack of enforcement and judicial independence, Francois Valerian of Transparency International tells TRENDS.
Corruption, a global economic issue, involves cross-border reinvestment of stolen funds, necessitating stronger, independent judicial systems to enforce anti-graft laws, he adds.
UAE healthcare spending set to reach $30.6bn by 2027
The sector witnesses a shift towards personalized and precision medicine, underscored by healthcare's significant digitization and data generation, says a...The sector witnesses a shift towards personalized and precision medicine, underscored by healthcare's significant digitization and data generation, says a white paper.
Precision medicine has been identified as a key departure from traditional healthcare approaches, focusing on patient-centered care, the report highlights.
Number of millionaires in BRICS likely to rise by 85 percent in 10 years, says report
DUBAI, UAE - The total investable wealth currently held in the BRICS bloc amounts to US$45 trillion and its millionaire...There are currently 1.6 million individuals with investable assets of over US$1 million in the leading emerging economies.
The UAE’s millionaire population has shot up since 2013, by 77 percent, and is now home to 116,500 millionaires
OPEC+ panel reaffirms cartel’s current output reduction strategy
In an effort to shore up prices, the OPEC+ oil alliance of 23 nations has implemented supply cuts of more...In a statement following a meeting via videoconference, the Joint Ministerial Monitoring Committee (JMMC) of OPEC+ stopped short of making any recommendations on its output policy.
However, the panel said it "reviewed the crude oil production data for the months of November and December 2023", noting the "high conformity" among participating nations.
Spain urges WTO meet in UAE to address de-globalization
ABU DHABI, UAE - Madrid wants the upcoming 13th Ministerial Conference (MC13) of the World Trade Organization (WTO) here next...The ministerial meeting (MC13) will convene representatives of 164 nations and trading blocs.
MC13 will seek key reforms to the global trading system, including expanding WTO membership .
GCC central banks mimic Fed, hold interest rates steady
Abu Dhabi, UAE--In a significant move that underscores the interconnectedness of global monetary policies, central banks across the Gulf Cooperation...CBUAE has kept the base rate applicable to the overnight deposit facility (ODF) at an unchanged level of 5.40%
The US Federal Reserve held its key interest rate steady and hinted at the possibility of rate cuts in the future
Egypt grapples with dollar crunch as debt explodes
With inflation up at 35 percent, and amid a severe foreign currency crunch, the Egyptian pound is plunging and the...Egypt has seen remittances from overseas workers drop 30% in July-September 2023 alone
Its external debt rose to $164.7bn and the cost of servicing that debt this year will be $42bn
