UAE’s estimated insurance expenditure reached more than AED8 billion ($2.17 billion) in 2021 an increase of AED499.4 million in comparison to 2020, according to General Pension and Social Security Authority (GPSSA). The total insurance expenditures disbursed to pensioners, beneficiaries (dependents of pensioners) and insured (contributors) affiliated with GPSSA in 2021...

Emirates NBD has taken the lead in supporting upcoming initial public offerings (IPOs) on the Dubai Financial Market (DFM) with the launch of an end-to-end IPO subscription website for individual investors. The initiative is aligned to the recent announcement by Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler...

UAE Banks Federations (UBF) has called upon the entrepreneurs of existing and under-formation Small & Medium Enterprises (SMEs) to unlock their full potential by benefiting from UBF's Nationwide SME Campaign. The campaign is all accessible through one platform: www.uaebf.ae/SME. UBF Director-General, Jamal Saleh, explained that such initiatives will help UAE...

The UAE advanced to 15th place globally in the overall Global Soft Power Index ranking, up from last year's 17th in 2021. The index interviewed more than 100,000 people from 101 countries worldwide to assess the various axes of soft power and its positive influence.

E-commerce in the UAE surged to over $5 billion in 2021 and is projected to surpass $8 billion by 2025, according to a data released by EZDubai, a dedicated e-commerce zone in Dubai South, in partnership with Euromonitor International, a global business intelligence, market analysis and consumer insights provider. More...

Saudi Arabia and UAE, two biggest economies in the Gulf Cooperation Council region, rely heavily on retail industry.

The UAE and New Zealand have signed an agreement to enhance collaboration in food security, a step aligning with the UAE’s approach to advance multilateral and bilateral cooperation in the face of global challenges in a bid to build a sustainable future.

From the UAE to Egypt, Jordan, and Bahrain, and from the OIC to the Arab Parliament, the attack is being decried unequivocally.

Saeed Ahmad, Callsign’s Managing Director for the MENA region, explains how a single fraudulent message impersonating an entity can erode people’s digital trust in it.

According to Statistics New Zealand, the total two-way trade between New Zealand and the UAE in 2021 reached AED8.63 billion ($2.35 million).

As the Covid restrictions ease, gyms and fitness centers in the region are on a solid path towards recovery with class occupancy catching up at 88 percent pre-COVID levels.

The company is celebrating the pearl legacy of the UAE by unveiling X-Pearl at the Dubai International Boat Show 2022.

The United Arab Emirates on Thursday reaffirmed its commitment to OPEC+ alliance agreements, a day after an envoy said it would urge the cartel to boost oil output. "The UAE is committed to the OPEC+ agreement and its existing monthly production adjustment mechanism," Energy Minister Suhail al-Mazrouei wrote on Twitter....

The Bukhatir Group of the United Arab Emirates announced Thursday the relaunch of a $5 billion real-estate project in Tunisia, expected to boost the North African country's struggling economy. The initiative is expected to bolster the economy, as the country grapples with high public debt, inflation and unemployment.

DP World of the UAE has posted a twenty six percent increase in revenue to $10.8 billion in 2021, despite problems in supply chain network.

However, Gulf countries have an interest in acting in coordination — both within OPEC, and with Russia-led allies in the OPEC+ group — to avoid a price war and keep control over the market.

Brent had spiked to $139 on Monday — about $8 short of an all-time record — in expectation of the US embargo on Russian oil and gas.

Tetra Pak Arabia Managing Director Niels Hougaard explains what lies ahead for F&B companies — bith regionally and globally — as they eye new goals.

Abu Dhabi's agricultural production in 2020 was valued at AED13.7 billion ($3.72 billion) in 2020, with an increase of 12 percent compared to 2019, growing at a compound annual growth rate of 6.5 percent for 2017-2020. Statistics collected by the Abu Dhabi Agriculture and Food Safety Authority (ADAFSA) in collaboration...

AHOY, a UAE and Saudi operating logistics startup, has raised $20 million in financing from undisclosed investors. 

Spain's former king Juan Carlos said he will stay in Abu Dhabi despite the closure of investigations into his financial dealings that led to his self-imposed exile in the UAE, the Spanish royal family announced on Monday. "For now, I prefer for personal reasons which concern nobody but myself, to...

Dr Thani bin Ahmed Al Zeyoudi, the UAE Minister of State for Foreign Trade met Tomislav Ćorić, Croatia's Minister of Economy and Sustainable Development at Expo 2020 Dubai.

Dubai Airports, the operator of Dubai International (DXB) and Dubai World Central (DWC), has announced the launch of the new Dubai Airports Women’s Network (DAWN).

The government of the UAE has worked with the UK government to launch a toolkit to support financial institutions in tackling illicit financial flows in Illegal Wildlife Trade (IWT). Ahmed Ali Al Sayegh, UAE Minister of State, has partnered with UK Minister Lord Tariq Ahmad of Wimbledon to launch the...

The Emirati budget airline carried 5.6 million passengers last year.

Government support, coupled with strong social systems, must ensure that no one goes hungry, says Nobel Laureate Dr Dan Shechtman

The initiative, called Beyond Food, was launched in collaboration with the Nama Women Advancement Establishment.

The UAE is the latest country to be added to the list, and will have to work closely with the FATF to get off it.

UAE authorities have collected AED3.848 billion ($1 billion) in penalties from anti-money laundering and terrorism financing offenders in 2021. The amount comprised asset seizures worth $625m, fines for non-compliance to anti-money laundering and terrorism financing regulations worth $64m, penalties on major financial institutions in the UAE worth $5.3m, tax evasion...

The Sharjah Electricity Water and Gas Authority (SEWA) will start to provide electricity to the Al-Arqoub area, aiming to meet the needs of consumers.

Over the past 10 years, the UAE has reportedly sent relief supplies to Malawi amounting to AED85.3 million ($23.23 million).

The economic ties between the UAE and India have been reinforced by growing trade between the two countries that stood at $60 billion in 2019. It is now estimated to touch $100 billion by 2030, a far cry from $180 million in the 1970s.

The non-oil trade of the UAE has totalled AED16.14 trillion in the last ten years as the country's growth returned to pre-pandemic levels.

Abu Dhabi National Oil Company (ADNOC) has signed an agreement with Proman, one of the world's leading producers of methanol, to develop the UAE's first methanol production facility at the TA'ZIZ Industrial Chemicals Zone in Ruwais, Abu Dhabi.

The UAE and Latvia have agreed on a six-track economic cooperation program covering trade and investment, innovation and advanced technology, transportation and logistics, agriculture, food, education and science during the 2nd Joint Economic Committee (JEC) session held in Dubai. These programs will be designed to achieve higher levels of prosperous...

The UAE and the US are facing a "stress test" in their relationship, a senior Emirati diplomat said Thursday, as Russia's war in Ukraine strains ties. The wealthy Gulf state hosts US troops and has been a strategic partner to Washington for decades.

However, just because there is inflation doesn't mean that people aren't spending, but they are spending differently. The that sales are expected to rise from US$ 317 bn in 2021 to between US$ 336 bn and US$ 347.5 bn in 2022.

The Central Bank of UAE has approved the creation of 5,000 new jobs by the end of 2026 for Emirati nationals as part of the Emiratization of managerial positions in the banking and insurance sectors. The jobs will be created in coordination with the Emirates Institute for Banking and Financial...

The United Arab Emirates has offered $5 million in assistance to Ukraine to tide over problems suffered by civilians in the ongoing conflict.

The ‘Dubai-Israel: Future Horizons Mission’ was hosted by the Dubai International Chamber, which is one of the three chambers operating under the restructured Dubai Chambers. It was organized by Dubai International Chamber, the UAE Embassy in Israel, and the Tel Aviv Stock Exchange.

In an exclusive interview, Tel Aviv Stock Exchange CEO Ittai Ben-Zeev speaks on his strategy to attract investors from the Arab world, especially the UAE and the GCC.

Companies holding the license will be able to work within a stimulating environment at the DIFC Innovation Hub.

The two companies will form a joint venture company.

The Internal Auditors Associations of the UAE and Saudi Arabia have signed a cooperation agreement to work the internal auditing domain jointly. Abdulqader Obaid Ali, Chairman of the Board of UAE Internal Auditors Association, and Abdullah Saleh Al-Shebeili, CEO of the Saudi Internal Auditors Association, signed the agreement. Media reports...

Despite the global closures and economic crisis, the tourism sector in the Gulf region fared well in 2021 due to several factors such as the easing of restrictions and government support.

The wave of inflation continues to put pressure on consumers not just in the United States, Europe, and the Arab world, but also in the Gulf region. Economies in the Middle East are exposed to the global price fluctuations because of heavy import dependence. Localized factors like rental deflation and...

The squeeze on real incomes within the region due to higher inflation may depress regional trade flows. The situation may worsen further if the global central banks' attempts to control rising consumer prices, which will ultimately dampen global economic activity.

Investing in inflation-protected bonds and gold may provide some hedge against consumer price rise. Putting money into the real estate sector is also a safe bet, believe some regional experts.

The main reason for high inflation rates in the GCC is a rebound in prices in the sectors that were hit the hardest during the Covid-19 crisis. The global energy prices are also exerting significant pressure on the region.

The UN Security Council voted Monday to extend to all of Yemen's Houthi rebels an arms embargo that until now targeted only some leaders of the guerrilla group. Yemen has been embroiled since 2014 in a civil war between the Iran-backed Houthis and the internationally recognized government supported by a...