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ABU DHABI, UAE – World trade ministers were locked in disagreement Thursday on fisheries subsidies, agriculture and digital customs duties as a major WTO conference was extended beyond its scheduled deadline. With no signs of a breakthrough at the World Trade Organization's 13th ministerial conference (MC13) in Abu Dhabi, officials pushed...

Abu Dhabi, UAE -- Saif Mohammed Al Suwaidi, Director-General of the General Civil Aviation Authority (GCAA), said Thursday that the UAE's airports surpassed 134 million passenger mark in 2023 and are projected to reach 140 million by 2024. He attributed this achievement to the robustness and competitiveness of the UAE...

ABU DHABI, UAE - Abu Dhabi’s residential sector has witnessed one of the best years on record, where a total of 11,200 units were sold across the capital, up 83 percent y-o-y. The increase in demand for residences has been driven by several positive initiatives and announcements by the government,...

Sao Paulo, Brazil-- The UAE has affirmed that it collaborates with the BRICS nations in order to establish sustainable development policies, effective financing solutions and an advanced digital infrastructure. This was stated by Mohamed Hadi Al Hussaini, UAE's Minister of State for Financial Affairs at the first BRICS finance ministers...

Sharjah, UAE – Petrozo Energy, a leading Singapore-based oil and gas company, has announced a plan to establish a new manufacturing facility in the Hamriyah Free Zone in the UAE.   The free-zone is strategically located on the borders of Ajman and Sharjah, with direct access to Ras Al Khaimah.  The...

In January, Israel's cabinet approved an additional 55 billion shekels ($15 billion) to meet the cost of the war, while the mobilization of reservists and the displacement of communities on the borders with Gaza and Lebanon have disrupted the economy. Confronted with the conflict, Arab countries that have normalized relations...

Dubai, UAE - The International Monetary Fund (IMF) in a report has indicated that the global economy is on course for a soft landing, despite ongoing weaknesses in activity and growth prospects. "The cyclical position of G20 countries has proven stronger than previously anticipated as disinflation has so far proceeded...

Dubai, UAE - The price of Bitcoin on Tuesday surged past $57,000, demonstrating the continued strength of the cryptocurrency market rally. The rise follows Bitcoin's climb above $54,000 on Monday, a milestone not reached since December 3, 2021. The cryptocurrency has been experiencing a bullish trend since January 11, when...

"We believe that enhancing competitiveness and ensuring that the nations offering the best products and services come out on top is more crucial than those offering the largest subsidies," he says, adding that from an economic standpoint, it is widely recognized that subsidies do not lead to the desired economic...

ABU DHABI, UAE – The Ministry of Finance on Tuesday announced the issuance of Cabinet Decision No. 10 of 2024 and this will come into effect on March 1 2024. The Cabinet Decision No. 10 of 2024 amended the schedule of violations and administrative penalties of Cabinet Decision No. 75...

The set of rules will streamline authorization requirements and ease procedural hurdles faced by businesses, according to a press release. It will help reduce the costs of global services trade by more than $119 billion every year, it added.

IHC is a pioneer in leveraging AI for decision-making.

The one-year syndicated term facility was closed for Agrobank.

The buyout is part of its plan to boost media business.

Its revenue jumped to US$16.33 billion, a rise of 17.9 percent.

"It is contributing to raising living standards, improving employment opportunities and enabling the expansion of trade in goods and services" around the world," he adds as the conference celebrates the accessions of the Comoros and Timor-Leste, both classified as least-developed countries.

ABU DHABI, UAE – Emirates Development Bank (EDB) has unveiled its 2023 results, showcasing an extraordinary year of achievements and strategic milestones. EDB revealed a significant 80 percent surge in its contribution to the UAE’s industrial GDP, which has grown from US$653 million (AED2.4 billion) in 2022 to US$1.1 billion...

The two firms have signed a $1 billion private credit deal.

"There's considerable work to be done to establish a level playing field where low-energy technologies can be freely traded. I believe the WTO will be instrumental in this arena as well," adds Tavio. underscoring that the unimpeded trade of clean technologies is essential for achieving climate goals.

Abu Dhabi, UAE--China is willing to work with all parties to achieve more pragmatic results at the 13th Ministerial Conference of the World Trade Organisation (WTO) held in Abu Dhabi, according to the country's Commerce Minister Wang Wentao on Sunday. During his meeting with Ngozi Okonjo-Iweala, Director-General of the WTO...

Abu Dhabi, UAE-- Applauding the UAE's commitment to trade liberalization, including development of green and digital trade globally, Ralph Ossa, Chief Economist at the World Trade Organization (WTO), said the country's focus on low tariffs, export diversification, and active participation in the multilateral trading system demonstrates its commitment to free...

The deal aims to facilitate "the flow of foreign direct investment... particularly to developing and least-developed" countries with the aim of fostering sustainable development, according to the text. WTO chief Ngozi Okonjo-Iweala called it a "pioneering agreement that promises to help its signatories attract the foreign direct investment they want...

The World Trade Organization's 13th ministerial conference (MC13), scheduled to run until Thursday in Abu Dhabi, the capital of the United Arab Emirates, is the first in two years. The WTO is hoping for progress, particularly on fishing, agriculture and electronic commerce.

Dubai, UAE – United Arab Emirates on Sunday allocated $5 million to a $50 million fund launched Sunday ahead of the conference to help female entrepreneurs in developing countries to export more using the opportunities offered by the digital economy. The allocation was announced by Dr Thani bin Ahmed Al...

ABU DHABI, UAE - The director general of the World Trade Organization, Ngozi Okonjo-Iweala, on Sunday launched a $50 million fund to help female entrepreneurs in developing countries to export more using the opportunities offered by the digital economy. The announcement came ahead of the 13th ministerial conference of the WTO...

Dubai, UAE -– Customs declarations processed by the Inland Customs Centers Management of Dubai Customs increased by 44 percent, reaching 1.13 million customs declarations in 2023, compared to 790 thousand declarations in 2022. The total number of inspections for goods and travelers amounted to 198,478. The cleared goods' total weight...

ABU DHABI, UAE – Chairman of Eagle Hills International Mohamed Alabbar has said that US$4 billion joint venture Binaa Al Bahrain company aims to create expansive mixed-use projects, offering diverse residential, commercial and entertainment opportunities designed to elevate the overall local community experience. The JV was set up by an...

ABU DHABI, UAE – Emirates Minister of Foreign Affairs Sheikh Abdullah bin Zayed Al Nahyan has announced that the UAE will provide a US$10 million grant to support key initiatives of the World Trade Organization (WTO), whose 13th Ministerial Conference is being held here. Sheikh Abdullah said that the grant...

“Japan and the UAE will deepen their cooperation beyond traditional areas such as energy and the economy to include a wide range of fields like climate change, education, science and technology, outer space, and defense, under the ‘Comprehensive Strategic Partnership Initiative’. Such cooperation could expand in the field of international...

Gulf economies are witnessing transformative growth and resilience with the UAE, Saudi Arabia, and Qatar leading the way in global competitiveness, says a report.

ABU DHABI, UAE- The aggregate capital and reserves of banks operating in the UAE increased 13.3 percent, reaching US$131 billion (AED481.5 billion) by the end of November 2023 compared to US$114.6 (AED424.9 billion) at the end of the same period of 2022, according to the Central Bank of the UAE's...

Abu Dhabi, UAE -- The economies of the UAE and Gulf countries will outpace the global forecast for 2024, helped by the domestic multi-year investment cycle in the region, a report says. Despite recent geopolitical headwinds and muted global recovery, national and regional growth is expected to be driven by...

Countries on the grey list have "strategic deficiencies" in their efforts to counter money laundering and terrorist financing but are cooperating with the FATF to correct the problems and are subject to increased monitoring. In addition to the UAE, Barbados, Gibraltar and Uganda were removed from the grey list. A...

Madbouly said the investment would "contribute to resolving" a hard currency crunch which has threatened Egypt's ability to service its large foreign debt and allow it end separate official and black market exchange rates for the Egyptian pound.

Abu Dhabi, UAE -- The United Arab Emirates and Kenya have concluded negotiations on a Comprehensive Economic Partnership Agreement that will secure vital East and West supply chains, spur investment into priority sectors, and enhance market access for businesses on both sides. The CEPA will have significant positive impact on...

ABU DHABI, UAE – The Registration Authority (RA) of Abu Dhabi Global Market has fined Baker Tilly Middle East Limited (Baker Tilly) and its registered audit principal Neil Andrew Sturgeon (Sturgeon), an ADGM media release said on Friday. The RA imposed a financial penalty of US$50,000 against Baker Tilly and...

This is the carrier's strongest-ever performance.

It will collaborate with Abu Dhabi Investment Office.

Over the past decade, the UAE has become a global hub for innovation and entrepreneurship, attracting significant interest from international and female-led startups.

DUBAI, UAE – President and CEO of Dubai Chambers Mohammad Ali Rashed Lootah has revealed that 6,478 new Food and Beverage (F&B) companies joined Dubai Chamber of Commerce in 2023, representing year-over-year growth of 19.4 percent. The total number of F&B companies registered with Dubai Chamber of Commerce – one...

e& said the net profit is a growth of 3 percent year-over-year.

The report stresses the urgent need for MENA news organizations to overhaul business models, adopt digital strategies, and diversify content delivery to seize growth opportunities.

Dubai, UAE-- The food and beverage sector in Dubai has attracted new FDI worth $577 million from 2019 to 2023, which was made by 48 international companies from 23 countries, according to data from FDI Intelligence. The UAE’s food and beverage sector generated $16.4 billion in retail sales, including fresh...

The GCC is at a critical juncture, facing the dual challenge of embracing blockchain innovation while combating crypto crime, says Nicola Buonanno of Chainalysis.

Dubai, UAE -- Construction costs are set to increase in the UAE by 2-3 percent, and in Saudi Arabia by 5-7 percent in 2024, following an increase of 3 percent and 7 percent respectively in 2023. Increases will challenge construction firms, which will need to develop new processes and capabilities to...

ABU DHABI, UAE - Oil prices could rise to $100 per barrel and gold prices could reach $3,000 per ounce within the next 12 to 18 months, subject to three potential catalysts, CNBC reported, citing Citi analysts. Aakash Doshi, Citi’s North America head of commodities research, told CNBC that gold...

ABU DHABI, UAE – Khalifa Economic Zones Abu Dhabi (KEZAD Group) and Al Ghurair Group subsidiary Automotive Precision Technology (APT) on Monday announced the signing of a lease agreement for an automotive aluminum component manufacturing facility. The 30,000 square meters advanced manufacturing facility for APT in KEZAD will be strategically...

DUBAI, UAE – The airport here has "every chance" of breaking its record for passenger traffic this year after surpassing pre-pandemic levels in 2023, Dubai Airports' CEO told AFP on Monday. Dubai International, the world's busiest airport for international passengers for nearly a decade, hit 87 million visits in 2023, beating...

SHARJAH, UAE - The Financial, Economic and Industrial Affairs Committee of Sharjah Consultative Council (SCC) held a meeting to discuss points to be raised on the policy of Sharjah Commerce and Tourism Development Authority (SCTDA), during the next session. A number of key issues related to stimulating economic growth and...