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...

The UAE has approved a $3.26 billion housing loan budget for Sheikh Zayed Housing Program in a cabinet meeting on Monday.

The government said the non-oil foreign trade figures of all emirates also witnessed growth individually in varying levels. The growth was consistent across all areas, including exports, imports and re-exports.

Meta and The Entrepreneurial Nation program have launched ‘Boost with Facebook’ program in the Emirates that is aimed at attracting and supporting startups and small and medium-sized businesses (SMBs) across the country. The Entrepreneurial Nation, a project by the Ministry of Economy, aims to offer support through a series of...

e&, the UAE telecom firm, is looking to widen its operations overseas and push growth across all business segments.

The aid was sent following the directives of the UAE's leadership to help improve the humanitarian situation in the Tigray region.

The UAE has called for immediate cessation of hostilities in the war between Russia and Ukraine. The appeal came in a meeting of the UN Security Council in New York.

More than 400 cities are impacted by the urban heat island effect and increasing energy consumption that makes cities less comfortable, says Abu Dhabi-based FortyGuard

The net profit was 3.2 percent higher than in 2020, the company said.

This goal requires adopting new economic diversification strategies, in addition to supporting new economic sectors, said Minister of Economy Abdullah bin Touq Al Marri.

A conference that brings together Emirati investors and Israeli public companies listed on the Tel Aviv Stock Exchange (TASE) will be held in Dubai from Feb 28 to Mar 3. The conference, “Dubai Israel: Future Horizons Mission”, is collaboration between the UAE Embassy in Israel, TASE and the Dubai International...

Deals worth more than AED2 billion ($544 million) were made by UAE’s Ministry of Defense during the fifth edition of UMEX and SimTEX 2022 exhibitions, which concluded on Wednesday at Abu Dhabi National Exhibition Centre. This was the largest edition of this event in terms of exhibition area and exhibitors,...

Speaker of the UAE Federal National Council (FNC) Saqr Ghobash discussed the ongoing cooperation between the UAE and European Union (EU) member countries with the President of the UAE-EU Parliamentary Friendship Group at the European Parliament Antonio Lopez-Isturiz White, and his delegation, at the FNC’s headquarters.

Airbus has been mired in controversy despite its best efforts to increase its customer base, across the world in general and in the GCC in particular.

The United Arab Emirates said Wednesday it plans to buy a dozen Chinese L15 aircraft, as it seeks to bolster its defenses after a series of attacks by Yemeni rebels. The country intended to sign a contract with the Chinese company to purchase 12 of the L15 training and light...

The aid is expected to improve the humanitarian situation of hurricanes, drought, and terrorist attacks faced by some countries in Africa.

Birla made this statement during a joint Emirati-Indian session chaired by Saqr Ghobash, Speaker of the Federal National Council.

The UAE Instant Payments Platform (IPP) is set to go live in Q4 2022, with participation mandatory for all banks and financial institutions in the country.

UAE’s Ministry of Defense said on Tuesday that it signed three new deals worth AED966.25 million ($263 million) on the second day of the 5th edition of UMEX & SimTEX 2022. On the second day, the event witnessed wide-scale participation of major companies specializing in unmanned systems, training, and simulation...

UAE reached the top spot globally as a rough diamond hub, trading over $22.8 billion worth of rough diamonds in 2021. Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC, announced this at the Dubai Diamond Conference, local media reported. The conference was held at Dubai Multi Commodities Center...

Beside Covid-19 pandemic, many countries in the region face war and conflicts. A robust economic system necessitates an effective strategy to combat corruption. If GCC countries wishes to be prosperous, there must be systems in place to fight corruption and ensure that the integrity of the state is maintained.

An improved regulatory support, government promotional initiatives, and heightened interest from business leaders in the private sector benefits the sector in the region.

UAE has saved $191 billion by using alternative sources of energy, according to Suhail Al-Mazroui, UAE energy minister. Speaking at the International Petroleum Technology Conference 2020 in Riyadh, Al-Mazroui said the huge saving prompted the UAE to think seriously about using cleaner forms of energy. He said the UAE is...

ADX’s market liquidity jumps five-fold in 2021 amid IPO boom, as traded values on the exchange increased 407 percent from AED 145 billion ($39.47 billion) in 2020 to AED 739 billion in 2021, driven by higher levels of domestic and international investment. Local investors accounted for 70 percent of the...

The UAE warned Sunday of the rising threat of drone attacks, such as those launched against it by Yemen's Houthi rebels, at a defense industry conference on unmanned systems. The UAE has been on heightened alert since a Houthi drone and missile attack killed three oil workers.

The initiative will provide affordable medicines to uninsured and low-income expat patients or those whose insurance does not cover the cost of treatment of several diseases.

The UAE has announced that it will  allow cooperative associations to trade their shares in financial markets, according to media reports.

The UAE government has been praised by no less than the International Monetary Fund for the handling of its economy during the pandemic.