The UAE-Germany non-oil trade exchange exceeded AED 478 billion ($130 billion) from 2012- 2021, according to data from the Federal Competitiveness and Statistics Centre (FCSC). The imports accounted for 89.5 percent of the total trade exchanges, while exports 3.5 percent and re-exports accounted for seven percent. The data showed that...

UAE's Ministry of Economy said the "decision comes in view of the international developments that have affected trade flows and in appreciation of the strategic relations that bind the two countries, especially after the signing of the Comprehensive Economic Partnership Agreement.

The UAE will raise its 2022 federal budget spending by an additional Dh1.23 billion ($334.9 million), according to the Federal National Council (FNC)

The Foreign Direct Investment (FDI) in Jordan amounted to $622 million in 2021, constituting 1.2 percent of the Arab region's total FDI. The Arab Investment and Export Credit Guarantee Corporation (Dhaman) issued data Tuesday which confirmed this. The Arab region's FDI in 2021 went up by 42 percent to $53...

Economic growth in the MENA region is forecast to accelerate to 5.3% in 2022 before slowing to 3.6% in 2023, according to the World Bank. Find out the country-wise breakup.

The UAE's residential real estate market is poised to grow at a CAGR of 12.36 percent by 2026, Sharjah Sustainable City CEO Yousif Ahmed Al-Mutawa tells TRENDS

Germany and the UAE as strong economic partners will continue trade but they can make joint investments in the 'new economy' that will help achieve their net-zero targets

The use of tobacco by people across the world has gone down, and the Middle East has been no exception, where many users have kicked the habit.

Under the new visa scheme, all GCC residents with a valid resident and work visa issued by the UAE, Bahrain, Kuwait, Oman, and Qataris immigration authorities will be allowed entry into Saudi Arabia for business, tourism, and Umrah purposes, with the exception of Hajj – the annual Islamic pilgrimage.

The UAE and Uzbekistan have pushed for a new phase of their strategic partnership for government modernization to promote the exchange of knowledge, expertise, and successful experiences.

The UAE’s first fuel retail loyalty program continues to grow membership base, evolves towards targeted segmentation.

"We are forging the links that will strengthen our shared interests and values to confront the challenges head-on. As Germany pursues its policy of 'Zeitenwende' that will usher in a new era of foreign policy, finance, and energy, it will find in the UAE a true and reliable partner," he...

The UAE and European Union are looking to deepen cooperation in many fields, and in particular in sub-Saharan Africa. In this regard, Sheikh Shakhboot bin Nahyan bin Mubarak Al Nahyan, Minister of State, received Jutta Urpilainen, Commissioner for International Partnerships at the European Union, and explored further cooperation between the...

Protection and Promotion of Investments Agreements aim to protect investments from all non-commercial risks like nationalisation, expropriation, and sequestration.

Israel's Prime Minister Naftali Bennett held talks with the UAE President Sheikh Mohamed bin Zayed Al Nahyan on Thursday during a surprise visit, a day after a formal rebuke of Iran by the UN's nuclear watchdog. Bennett's second trip to the UAE also comes after the two countries struck a...

As the number of people in UAE who deal in cryptocurrency rises, sectors like real estate, hospitality and travel have started accepting cryptocurrency payments.

The CBUAE projected the real GDP growth to reach 5.4 percent in 2022, after the growth jumped to 3.8 percent in 2021.

Ahmed Mohamed Al Naqbi, Chief Executive Officer of Emirates Development Bank (EDB), has called on the local and regional banking community to increase access to corporate finance and accelerate the UAE’s economic recovery. Speaking on the opening day of Bonds, Loans & Sukuk Middle East 2022, which took place at...

The UAE wants to boost cooperation with Egypt and Jordan in the financial sector in order to achieve sustainable growth in the region, according to Khaled Mohamed Balama, the Governor of the CBUAE.

The Agency for Natural Resources and Energy in Tokyo.reported that the amount of crude oil that Japan imported during that month amounted to 87.59 million barrels.

Two Indian-born brothers who allegedly wove a web of corruption across South Africa have been arrested in Dubai and face extradition, in a landmark step in Pretoria's anti-graft fight. By one estimate, several billion dollars were lost to the South African economy as a result of their activities.

The current rebound is due mainly to strong growth in oil exporters boosted by rising oil revenues and a general waning of the pandemic’s adverse impacts in highly vaccinated countries. The growth, however, will slow abruptly in 2023 and 2024 across the region, the report adds.

Amman Chamber of Commerce (ACC) said that the total value of exports during the January-May period 2022 amounted to JD339 million, compared to JD248 million for the first five months last year. According to the ACC's statistical data announced on Sunday, the number of ACC certificates of origin issued during...

The region's countries have embarked on ambitious transformative plans to reduce dependence on oil and diversify their economies.

The volatility in oil prices will affect the markets. If there is a higher-than-expected decline, the markets may feel the heat, Junaid Ansari of Kamco Invest tells TRENDS.

A day after the arrest of a British national in Dubai over a $1.7 billion dividend tax fraud case in Denmark, the UAE has said it will continue to pursue people involved in financial crime. Abdullah bin Sultan bin Awad Al Nuaimi, Minister of Justice said: "International crime requires an...

The Gulf country leads EMEA in the leverage of data, data science, and AI for the purposes of decision making and business growth, the latest Dataiku report points out.

Less than a week after the signing of the Industrial partnership for Sustainable Economic Growth, ministers from the UAE, Egypt and Jordan have met for the first time to discuss a roadmap for taking the new partnership forward.

Grubtech’s entry into Egypt’s $22 billion food service industry highlights its rapid growth since being established less than three years ago.

About 25% of ransomware data theft attacks in the GCC are reported from the UAE followed by Saudi Arabia (15.5%), Qatar (7%), Oman and Kuwait (2% each), and Bahrain (1%).

Crypto philanthropy has emerged as an important and sustainable source of fundraising for charities, giving people greater opportunities to donate for good.

The UAE succeeded in attracting more than $20.7 billion of Foreign Direct Investment (FDI) in 2021, which reflects the confidence of investors worldwide in the country's economy, said UAE’s Minister of Economy Abdullah bin Touq Al Marri. This came during his keynote speech at the UAE-Kyrgyzstan Business Forum, which was...

UAE economy to improve in 2022 as the country's financial reserves reflect solid growth, a strong financial system and resilient national economy, says World Bank

The Taliban have tasked a United Arab Emirates firm with the security screening of passengers and luggage at Afghan airports, officials said, as the country seeks to expand international flights. While some domestic and international flights are operating out of the capital's only airport, significant support is needed for major...

The government spending, partly supported by significant revenues from government assets, have enabled Ras Al Khaimah to diversify its economy, says the latest Fitch report.

The Free Zone announces this at Seamless Middle East 2022.

The UAE has been chosen to lead the Committee on The Peaceful Uses of Outer Space (COPOUS) out of 100 member states.

Al Marri said that the non-oil trade exchange between the two countries was valued at over US$828 million in 2021.

Crude price rise will potentially lead to a greater surplus in local govt budgets, which can be used for construction and development investment, Gary Tracey of JLL tells TRENDS.

Restrictions on single-use plastic bags took effect in the United Arab Emirates capital Abu Dhabi Wednesday, as part of its efforts for a "greener future". The "single-use plastic bags ban starts today... to encourage sustainable living in Abu Dhabi", the emirate's media office said. "Retailers in the emirate are encouraged...

A new classification system for companies in the private sector came into force on Wednesday, according to the Ministry of Human Resources and Emiratisation (MOHRE)

Beside halal food business, Islamic banking holds the largest share of the Sharia-compliant industry, says Nik Joharris Nik Ahmad, country head of Maybank Islamic Dubai-DIFC.

The UAE has signed a Comprehensive Economic Partnership Agreement (CEPA) with Israel. Dr Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, tweeted on Tuesday that the agreement will push the value of non-oil bilateral trade beyond $10 billion within five years. The agreement “builds on the...

Nothing changes for delivery workers of online food delivery aggregator platforms even as they resume work after protest against low wages, which drew huge social media support.

The two Gulf countries score high consistently on all seven parameters used to measure the status of an economy.

The Abu Dhabi Global Market (ADGM) has invited public feedback on the proposed amendments to its commercial legislation. As part of ADGM’s ongoing enhancement of regulatory framework, its Registration Authority (RA) is proposing changes, including the introduction of a late filing fees framework. Rather than attracting a penalty, certain late...

Egypt has set its eyes upon doubling exports to $100 billion in the next few years, and building a 'strategic stockpile' of all major commodities to cope with emergencies. Speaking to media Mostafa Madbouly, Prime Minister of Egypt, said : "Today, we witness, through the launch of Industrial partnership for...

The insurance is being hailed as a step in increasing the attractiveness of the UAE labor market and its ability to attract local and international talent.

It was a week of mixed fortunes for various stock exchanges of the GCC, with TASI remaining flat through the week, even as Abu Dhabi's index began posting gains on Frdiay.

Even as SMEs in GCC seek to do more to end gender disparity , UAE proactively leads the region in pursuing the diversity agenda, says Marketa Simkova, Partner at KPMG Lower Gulf.