Dubai vs Doha: The Battle for Creator Economy Supremacy and Innovation in the Middle East
Dubai’s aggressive initiatives like the 1 Billion Followers Summit and specialized creator visas put it ahead in attracting global talent,...Business Economy
Democratization of investments: Digital platforms open private equity to individual investors
The shift towards greater accessibility – which has accelerated particularly within the last five years – has opened up new...Economy
UAE economy to grow 5.7% in 2024 in spite of global challenges
Abu Dhabi, UAE-- The UAE economy is projected to grow by 5.7% in 2024 despite prevailing global economic challenges, including...According to a top official in the ministry of finance, the country's initiative to diversify the economy and promote sustainable growth have proven effective
The official said that the UAE's non-oil foreign trade touched a record of $338 billion in the first half of 2023, marking a 14.4% increase from the same period in 2022
WEF24: Geopolitical upheaval to affect global economy
Geopolitical tensions, including the Russia-Ukraine conflict, Middle East unrest, and China-Taiwan ties are key economic disruptors, says Bill Browder of...Geopolitical tensions, including the Russia-Ukraine conflict, Middle East unrest, and China-Taiwan ties are key economic disruptors, says Bill Browder of Hermitage Capital.
Economic outlook remain tough with inflation-growth conflict as US stays stable, Europe stagnant, and China slowing, spotlighting on central banks' strategies, he adds.
Global stock markets swing ahead of Fed’s latest rate decision
"Markets are eagerly anticipating today's meeting from the Federal Reserve with traders looking for signs over whether a March rate...London and Paris rose but Frankfurt fell near the half-way stage, after a mixed showing in Asia. The dollar edged higher against the euro and yen
Investors are hoping the Fed will begin cutting rates soon after hiking them to their highest level in more than two decades to combat inflation
Qatar awards $6bn in contracts for Al-Shaheen oilfield expansion
The four engineering, installation and procurement contracts will increase production at the Al-Shaheen oilfield -- the country's largest -- by...Al-Shaheen currently produces 300,000 barrels per day and is operated through the North Oil Company, a joint venture between QatarEnergy and France's TotalEnergies.
QatarEnergy said the third phase of expansion at Al-Shaheen, which began production in 1994, will be implemented over five years.
Dubai is a key player in global business landscape
"The emirate is continuing to consolidate its position as an ideal platform that brings together creative ideas and innovative entrepreneurs...Dubai Chambers and Enterprise Ireland sign a strategic MoU to link Dubai and Irish firms, emphasizing collaboration in technology, manufacturing, and clean energy.
The MoU will boost mutual trade and investment, fostering digital economy growth, and offer small businesses opportunities and cross-cultural training through alliance.
UAE and UK seek to boost economic cooperation
Abu Dhabi, UAE-- Looking to enhance economic ties between the UAE and the United Kingdom, Abdulla bin Touq Al Marri,...The discussions to boost trade ties took place during a UAE delegation's visit to the UK to participate in Investopia London, to be held on January 31, 2024
The UAE minister said the relations between the two countries serve as a prime example for advanced strategic ties and exceptional economic partnership
Norway’s sovereign wealth fund posts record US$213bn profit
Oslo, Norway - Norway's sovereign wealth fund, the world's biggest, said Tuesday it raked in a record profit of 2.2 trillion...Fueled by revenues from Norway's state-owned oil and gas companies, the fund is aimed at financing future spending in the generous welfare state
Around 71 percent of its portfolio was dedicated to equities, with stakes in 8,859 companies worldwide -- or 1.5 percent of all listed stocks
IMF lifts global growth forecast citing unexpected ‘resilience’
The updated figure, released in the latest World Economic Outlook (WEO) report, is 0.2 percentage points higher than the International...Among G7 advanced economies, growth in European countries looks set to remain weak, reflecting ongoing challenges, while Japan and Canada are expected to fare slightly better.
While many Asian economies remain buoyant, Europe continues to cast a long shadow over the global outlook, with the IMF highlighting "notably subdued growth in the euro area."
25,647 new economic licenses issued in Abu Dhabi in 2023, says ADDED report
ABU DHABI, UAE - The Abu Dhabi's “Business Activity Report” for the year 2023, issued by the Abu Dhabi Department...24,143 commercial sector licences were issued in 2023, comprising 94.1 percent of the total.
Active licences in Abu Dhabi rose to 143,617, a growth of 10.9 percent compared to the year 2022.
Saudi Aramco halts plan to raise production capacity
Tuesday's announcement was not expected to have an immediate effect on production or exports. After a series of oil supply...Riyadh announced the planned production capacity increase in October 2021, the same month it pledged to achieve net zero carbon emissions by 2060
That applies to emissions that are produced directly by Aramco's industrial sites, but not the CO2 produced when clients burn Saudi oil in their cars
