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Latest economy news from the UAE, Gulf region and MENA in one place.
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Category: Economy
The UAE marked a major milestone in 2024 by surpassing one million annual air traffic movements, as confirmed by the General Civil Aviation Authority (GCAA). The record was achieved on December 22 with the arrival of Emirates Flight 305 from Shanghai. This achievement highlights a 10.3% growth in air traffic compared to 2023. As reported...
His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, met with Muhammad Shehbaz Sharif, Prime Minister of Pakistan, on Sunday in Rahim Yar Khan, Pakistan. The two leaders discussed ways to enhance cooperation between their countries, particularly in economic, trade, and development sectors. The meeting emphasized the strong historical ties between the...
Dubai’s Roads and Transport Authority (RTA) is building 16.5 km of internal roads in Al Awir 1 as part of its efforts to enhance infrastructure in residential areas. The project aims to improve accessibility, reduce traffic congestion, and boost road safety while supporting Dubai’s urban growth. As part of the plan, a new entrance from...
Dubai has once again claimed the top regional position and ranked eighth globally in the Global Power City Index 2024, released by Japan’s Mori Memorial Foundation’s Institute for Urban Strategies. This marks the second consecutive year Dubai has achieved this milestone, making it the first city in the Middle East to earn such recognition. The...
Riyadh Metro has officially completed its six-line network with the launch of the orange line on Sunday. This milestone marks the end of a phased rollout that began in late November, according to the Royal Commission for Riyadh City. The orange line, running east to west, covers 41 kilometers between Jeddah Road and the Second...
Oman has resumed exporting copper after a 30-year pause, a move seen as a significant step in its broader economic diversification strategy. This week, Minerals Development Oman (MDO) announced the first shipment of copper concentrates from the Lasail Mine in the Wilayat of Sohar. Once a dormant industry, copper mining is now part of the...
Saudi Arabia has taken a major step in advancing its renewable energy goals by prequalifying 33 companies for its first batch of large-scale battery energy storage system (BESS) projects. The Saudi Power Procurement Company (SPPC), under the Ministry of Energy, announced the list of selected firms on December 30, 2024. These projects, known as the...
Oil prices are expected to average between $70 and $75 per barrel in 2025, down from $80 in 2024, as analysts foresee a global supply surplus and slowing demand from major economies like China. According to The National, the International Energy Agency (IEA) predicts a significant oversupply of up to 1.4 million barrels per day...
Dubai is set to come alive with creativity as Dubai Art Season 2025 kicks off from 4 January to 20 April. Under the patronage of Her Highness Sheikha Latifa bint Mohammed bin Rashid Al Maktoum, Chairperson of Dubai Culture and Arts Authority, this year’s theme, “Take a Walk on the Art Side”, focuses on enriching...
Dubai’s public transport system saw a significant increase in usage during New Year’s Eve 2025 celebrations, with a total of 2,502,474 passengers recorded, according to the Roads and Transport Authority (RTA). This marks a 9.3% rise compared to the 2,288,631 passengers reported on the same occasion last year. The Dubai Metro carried the highest number...