World unites at COP28 to shift away from fossil fuels
Nearly 200 nations in Dubai have collectively endorsed an agreement to move away from fossil fuels, marking a significant step...Economy Energy Climate Change
Public-private partnerships play key role in environmental finance, says EIF official
DUBAI, UAE – Public-private partnerships have the potential to play a significant role in mobilizing private financing for environmental solutions,...Economy Climate Change
UAE Central Bank to do away with Covid stimulus measures
The Central Bank of the United Arab Emirates has decided to gradually do away with all the stimulus measures introduced...To leave lower reserve requirements for banks unchanged
The liquidity in the banking system and banks’ capital buffers remained adequate
UAE, China discuss strategic ties, common concerns
The two countries also reviewed bilateral partnership and cooperation in confronting the Covid-19 pandemic.Sheikh Abdullah bin Zayed Al Nahyan, the Minister of Foreign Affairs and International Cooperation attended the discussions for the UAE
He spoke on the phone with Wang Yi, State Councilor and Foreign Minister of China
Non-oil sectors fuel Saudi economic growth
Amidst forecast of economic recovery of Saudi Arabia, a few sectors that have driven the Kingdom's Q2 growth include real...The overall Saudi Arabia's GDP in Q2 of 2021, according to the General Authority for Statistics, has been 1.8 percent
The robust growth was witnessed in real estate (12 percent), non-oil manufacturing (15 percent), and wholesale, retail trade restaurants, and hotels (16.9 percent)
Innovation, partnerships put Dubai at forefront of financial markets: Analysis
DUBAI: Innovative initiatives and partnerships along with a series of regulatory reforms have placed the financial markets industry in Dubai...Dubai Competitiveness Office cited DIFC's example, which was ranked amongst the top 15 global financial centers consistently.
Financial market ecosystem in the emirate is well-positioned to enable capital flows.
Saudi Arabia reaches out to France for stronger economic ties
The move aims to further enhance bilateral investment relations by making use of the opportunities offered by Saudi Vision 2030.The Minister of Investment of Saudi Arabia, Khalid bin Abdulaziz Al-Falih, is on an official visit to France
He is accompanied by a high-level Saudi delegation from government agencies, national companies, and representatives of the private sector
Lebanon’s only suicide hotline inundated
There are dozens of such calls every day, and around 1,100 a month, in a nation that has seen an...There are dozens of such calls every day, and around 1,100 a month, in a nation that has seen an exodus of healthcare specialists to treat anxiety, depression and psychosis
The number of children phoning in has also risen, with people under the age of 18 accounting for 15 percent of callers in July, up from less than 10 percent in previous months
US, EU step up Yemen aid but UN warns millions face hunger
The United States promised an additional $290 million but said the ultimate solution was to end the warThe United States promised an additional $290 million but said the ultimate solution was to end the war
Oxfam said around $600 million was pledged in total, although the UN plea for $3.9 billion to help Yemen was still underfunded by around $1 billion
Dubai records $327m realty deals in week ending Wednesday
The deals consisted of 266 real estate sales transactions worth AED849.88 million.August 2021 was the second-highest month since December 2013 in terms of the number of sales transactions in one month.
The real estate market in Dubai is seeing sustained growth in the run-up to Expo 2020 Dubai.
UAE, India talk on Economic Partnership Agreement
It is the second deal that Dr. Al Zeyoudi is pursuing this month, following negotiations with Indonesia, as the UAE...Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, is in New Delhi to discuss trade and investment relations
It is the second CEPA deal that Dr. Al Zeyoudi is pursuing this month, following negotiations with Indonesia, as the UAE accelerates its global trade agenda
Dubai approves $17.7 billion over 20 years for citizens’ housing
The outlay is for the next 20 years, Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum said.The government intends to increase the number of beneficiaries fourfold.
In 2020, Abu Dhabi government announced $2 billion worth of housing loans, homes and land to more than 6,100 citizens.
