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Category: Economy
The United Arab Emirates (UAE) has set a significant goal to enhance its non-oil foreign trade to AED4 trillion ($1.09 trillion) by 2031. This objective is a key element of the “We the UAE 2031” vision, which aims to diversify the country’s economy away from oil dependency. As part of this initiative, the UAE launched...
Indians working abroad transferred a remarkable total of $129.4 billion back to India in 2024, marking a significant milestone in remittance inflows. The October to December quarter alone saw the highest-ever inflows, amounting to $36 billion, according to recent data from the Reserve Bank of India (RBI). India remains the leading country in receiving remittances,...
Motorists in the UAE will benefit from lower fuel prices in April, as confirmed by the UAE Fuel Price Committee on Monday. The price of Super 98 petrol will decrease to AED 2.57 per litre, down from AED 2.73 per litre. Additionally, Special 95 will fall to AED 2.46 per litre from AED 2.61, while...
The UAE’s Comprehensive Economic Partnership Agreement (CEPA) programme, launched in September 2021, has successfully established 26 agreements with strategically important countries and international groups by the end of the first quarter of 2025. This initiative aims to strengthen the UAE’s economic position both regionally and globally. In 2025 alone, the UAE has signed five new...
Food waste is a significant challenge in the Gulf Cooperation Council (GCC) countries, where it averages 150 kilograms per person each year. This figure is approximately 14 percent higher than the global average of 132 kilograms. While the GCC’s food waste levels are lower than those in the United States, they exceed those in many...
Wheely, a luxury services company founded in Switzerland and based in Britain, has officially launched its operations in Dubai, bringing an ultra-luxury ride-hailing experience to the city. The company’s offerings include high-end chauffeuring in BMW 5 Series and Mercedes E, S, and V Class vehicles, aligning perfectly with Dubai’s opulent lifestyle. This innovative ride-hailing service...
Education entrepreneur and philanthropist Sunny Varkey, alongside his family, has pledged a substantial contribution of AED 100 million to the Fathers’ Endowment campaign. This initiative was launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, with the aim of honoring fathers through...
A new digital platform named Dinar has been launched in Bahrain with the aim of improving economic awareness and providing timely updates on both local and global financial developments. This initiative is designed to deliver comprehensive coverage and in-depth insights across the sectors of economics, investment, and business. Dinar positions itself as a credible source...
As the UAE prepares to implement its new corporate tax, there are growing concerns from business owners regarding the potential penalties, late filing fees, and interest on overdue tax payments. These factors could create significant anxiety among companies adjusting to the new tax landscape. According to The National, David Daly, a partner at the Gulf...
The aluminum industry in the United Arab Emirates is experiencing a significant transformation through the integration of artificial intelligence (AI) in its manufacturing processes. This advancement is expected to enhance productivity and operational efficiency within the sector, marking a pivotal shift in how aluminum products are produced. The adoption of AI technologies allows for improved...