Latest economy news from the UAE, Gulf region and MENA in one place.
We cover market trends, government policies, trade, inflation, and financial updates. Stay informed on the economic landscape in the region. Whether you’re a business owner, investor, or professional, our updates help you understand economic changes and opportunities.
We provide reliable, clear, and fast news to keep you ahead. Track GDP growth, investments, and economic developments that impact businesses and individuals.
UPPERNEWS is your trusted source for everything happening in the UAE and Gulf economy. Stay ahead with the latest updates!
Category: Economy
Dubai’s Roads and Transport Authority (RTA) has launched the ‘Takamul Permit,’ a new initiative aimed at simplifying the process of hiring chauffeur-driven luxury vehicles. According to Jamal Al Sadah, Director of Commercial Transport Activities at RTA’s Licensing Agency, this permit is designed to integrate limousine services with the car rental sector in Dubai. It allows...
Oil prices remain largely unchanged today, Friday, but are on track to record their largest weekly decline since October. This downturn is attributed to uncertainty surrounding U.S. tariff policies, which have raised concerns about global demand just as major producers prepare to increase output. As of 02:17 GMT, Brent crude futures rose by 13 cents,...
The United Arab Emirates (UAE) reported a significant economic expansion of 3.8 percent during the first nine months of 2023. This growth was largely driven by a vibrant non-oil sector, which now constitutes nearly 75 percent of the nation’s GDP, as announced by officials this week. This robust growth highlights the UAE’s ongoing efforts to...
A new alliance formed by 41 Egyptian private companies is set to enhance exports to Arab countries, aiming to support economic growth in the region. The establishment of the Arab Alliance for Industrial Investment is anticipated to be finalized next week, according to Mohamed El-Bahi, a board member of the Federation of Egyptian Industries. This...
In February 2025, foreign inflows into the Gulf Cooperation Council (GCC) equity markets reached a significant net inflow of $2.47 billion. This figure represents a substantial increase from the $939 million recorded in January. The latest report highlights the UAE’s leadership in this surge, accounting for the entirety of the inflows. Saudi Arabia followed the...
A significant influx of German millionaires is evaluating the prospect of relocating to the United Arab Emirates (UAE) due to increasing political tensions and economic uncertainty across Europe. This observation comes from a recent survey conducted by Arton Capital, a global investor migration consultancy. The survey targeted 1,000 German residents with a net worth of...
Oman’s economy demonstrated steady growth in 2024, primarily fueled by a robust performance in non-oil activities, according to the Ministry of Economy’s latest Economics Brief. Despite a decline in oil sector revenues and foreign direct investment (FDI) flows, the country’s gross domestic product (GDP) at constant prices reached RO 28.15 billion by the end of...
The Sharjah Economic Development Department (SEDD) has formed a partnership with the Department of Statistics and Community Development (DSCD) to improve economic data collection and classification in the emirate. This collaboration aims to enhance the quality and accuracy of economic data, which is essential for conducting precise economic surveys across various companies and institutions. The...
The UAE has confirmed its commitment to ensuring stability in the oil market by adhering to additional voluntary production adjustments aimed at balancing supply and demand. This announcement comes as Opec+ has decided to implement a planned increase in oil output starting in April 2025. On Monday, Opec+ member countries, including Saudi Arabia, Russia, Iraq,...
The Investopia 2025 event recently hosted the China-Arab Entrepreneurs Summit, themed “Seizing New Opportunities.” The event brought together over 400 leaders, decision-makers, and entrepreneurs from the Arab world and China, along with 18 speakers. In his opening remarks, Abdullah bin Touq Al Marri emphasized that the summit marks a significant development in economic relations between...