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Category: Economy
The MENA IPO market has made a strong start in 2025, with 14 initial public offerings (IPOs) raising a total of $2.4 billion in the first quarter. This marks an increase from 10 IPOs during the same period in 2024, with proceeds surging by 106 percent compared to the previous year. According to EY’s latest...
The Abu Dhabi Environment Agency announced a significant coral reef initiative on Monday, launching the Abu Dhabi Coral Gardens project. This initiative is the largest of its kind in the Middle East and aims to protect the emirate’s marine environment while enhancing biodiversity, according to the state news agency Wam. Under the guidance of Sheikh...
Sheikh Hamdan bin Mohammed, the Crown Prince of Dubai, Deputy Prime Minister, and Minister of Defence, recently launched a new initiative aimed at fostering Emirati neighbourhoods in Dubai. This project is designed to bring people together and strengthen social connections within the community. The initiative seeks to enhance community bonds by encouraging local engagement and...
Hiring in the United Arab Emirates (UAE) and Saudi Arabia has seen significant increases, driven by the growth of the non-oil economy. In April, job creation in the UAE reached its fastest pace in 11 months, indicating a robust demand for workers as the economy diversifies away from oil dependency. In Saudi Arabia, staffing levels...
The Maldives government has partnered with Dubai-based MBS Global Investments to create an $8.8 billion financial centre in the capital city of Male. This ambitious project aims to establish a complex that will feature skyscrapers and will not impose residency requirements on its users. The financial centre will offer significant tax benefits, including no corporate...
The Anwar Gargash Diplomatic Academy (AGDA) has officially launched the UAE Economic Diplomacy Report 2024–2025 at a significant event held at its headquarters in Abu Dhabi. This launch marks an important moment for the UAE as it emphasizes the nation’s expanding role in promoting international cooperation and strengthening ties between countries. The report serves to...
Scientists in Abu Dhabi have reported a notable decrease in air pollution levels across the region. This improvement is attributed to stricter air quality controls, a shift towards renewable energy sources, and enhanced monitoring of vehicle emissions. The study conducted by researchers indicates that tougher emissions standards for vehicles have played a significant role in...
UAE stocks experienced a notable surge driven by optimism surrounding potential trade talks between the US and China. This positive sentiment led to gains in the markets of both Dubai and Abu Dhabi. The renewed discussions between the US and China have positively impacted global markets, with the UAE showing similar trends. Dubai’s main index...
The International Monetary Fund (IMF) forecasts that Abu Dhabi’s economy will grow by 4.2% in 2025, with further acceleration to 5.8% expected in 2026. Meanwhile, Dubai’s economy is projected to expand by 3.3% in 2025, increasing slightly to 3.5% in 2026. Jihad Azour, the Director of the Middle East and Central Asia Department at the...
Saudi Arabia’s economy experienced a growth of 2.7% year-on-year in the first quarter of 2025, according to preliminary estimates released by the government’s statistical authority. This growth was bolstered by increased activities in the non-oil sector as the kingdom continues its efforts to diversify its economy away from oil and gas reliance. The flash estimates...