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Category: Economy
A significant trade agreement between the UAE and India has triggered an impressive surge in bilateral commerce. Merchandise trade escalated from $43.3 billion in the fiscal year 2020–21 to $80.5 billion in the first ten months of the current fiscal year, according to recent data. This remarkable growth positions both nations on track to exceed...
A recent survey conducted by YouGov and commissioned by Zurich International Life Limited reveals that a 75 percent of residents in the UAE expect to receive a bonus in 2025. This figure marks an increase from 68 percent in 2024, indicating not only a rising optimism among residents but also a shift in financial behavior...
Emma Reynolds, the Economic Secretary to the Treasury, emphasized the significance of the United Arab Emirates (UAE) as a crucial economy for the United Kingdom. During her remarks, she expressed the UK’s intention to pursue more dual listings of UAE firms on the London Stock Exchange Reynolds acknowledged the strong economic ties between the two...
According to Khaleej Times, a recent poll conducted by Gallup, revealed that 52% of UAE residents donated money to charity in 2024, surpassing the global average of 33%. This finding highlights the remarkable generosity of individuals living in the UAE, particularly during the holy month of Ramadan, a time known for charitable giving. Residents are...
The UAE has cemented itself as a top destination for foreign direct investment (FDI), with its thriving economy and investor-friendly policies drawing significant international interest. In 2023, the country saw a 35% surge in FDI inflows, hitting AED 112.6 billion, according to the UNCTAD World Investment Report 2024. The Ministry of Investment revealed that foundational...
March 2025 brings several important updates for UAE residents, freelancers, and commuters. These changes span traffic regulations, tax requirements, and utility billing, alongside developments in space technology. Starting today, the UAE’s updated traffic law lowers the legal driving age to 17 and includes e-bikes and e-scooters under traffic regulations. Stricter penalties for violations like drunk...
The United Arab Emirates is actively enhancing its fintech sector, which currently accounts for 8.7 percent of the country’s GDP. The UAE aims to increase this contribution to 12 percent by 2031, highlighting the fintech sector’s critical role in promoting sustainable economic growth and innovation across various industries. Abdulla bin Touq Al Marri, the UAE’s...
The Department of Municipalities and Transport (DMT) has officially inaugurated 33 new parks in Mohamed bin Zayed City, aiming to enhance the quality of life for residents. These parks are designed to promote healthier lifestyles and foster social cohesion, aligning with DMT’s strategy to improve community well-being across the emirate. The newly established green spaces...
Parkin, the largest operator of paid public parking facilities in Dubai, has announced that a new variable pricing tariff will be introduced in early April 2025. This change will affect parking across the emirate, as the company aims to better manage public parking demand. Public parking in Dubai is categorized into four tariff zones: A,...
Fayafi Investment Holding, a prominent firm from the UAE, has announced the creation of a $50 million social impact fund to coincide with the holy month of Ramadan. This initiative aims to provide support for education and healthcare to low-income families, reflecting the company’s commitment to social responsibility. The newly established fund will focus on...