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Category: Economy
President Sheikh Mohamed has officially announced that 2025 will be designated as the Year of Community in the UAE. In his announcement, he called upon “all those who call the UAE home” to actively participate in efforts aimed at enhancing the community. This initiative is set to encourage collective contributions towards building a stronger society....
The UAE’s digital transformation has saved the country Dh14.7 billion ($4 billion), according to Maryam bint Ahmed Al Hammadi, Minister of State and Secretary General of The UAE Cabinet. Speaking at the World Economic Forum in Davos, she explained that adopting advanced technologies like AI and prioritising citizen needs made modernisation essential for the government....
The International Monetary Fund (IMF) has projected strong economic growth for the UAE, forecasting a 4% increase in 2025 despite reduced oil production under OPEC+ agreements. In a recent statement following its staff visit, the IMF highlighted the UAE’s focus on non-hydrocarbon sectors, which are thriving thanks to tourism, construction, and public spending. Financial services...
The Abu Dhabi stock market saw significant gains last week, adding AED 8.9 billion to its market value and closing at AED 2.996 trillion. This improvement was partly driven by better performance in US stock markets and optimism surrounding a potential decline in US interest rates. The Abu Dhabi Securities Exchange (ADX) index rose by...
Dubai’s Roads and Transport Authority (RTA) has intensified its efforts to tackle violations in passenger transport services through a series of inspection campaigns. In 2024, the authority conducted 25 campaigns, leading to a total of 606,430 inspections across various modes of passenger transport, including public buses and marine transport. These inspections specifically targeted fare evasion,...
During the 55th Annual Meeting of the World Economic Forum in Davos, Abdulla bin Touq Al Marri, the Minister of Economy and Chairman of the UAE Circular Economy Council, underscored the UAE’s strategic role in the circular economy. Participating in a session titled “Turning Plastic Waste into Raw Materials: Fueling the Circular Economy,” he highlighted...
AD Ports Group, a prominent player in global trade, logistics, and industry, announced yesterday, on January 22, 2025, the signing of a Memorandum of Understanding (MoU) with the Egyptian Ministry of Industry and Transport. This agreement aims to explore the joint development and operations of an integrated logistics park in Alexandria, Egypt. The MoU was...
Abdullah bin Touq Al Marri, the Minister of Economy, participated in a session titled ‘Global Competitive Edge in an Ever-changing World’ at the 55th World Economic Forum’s annual meeting in Davos . The event, themed ‘Collaboration for the Intelligent Age,’ features a UAE delegation led by H.H. Sheikha Latifa bint Mohammed bin Rashid Al Maktoum,...
42 Abu Dhabi, the innovative coding academy located in the UAE capital, has announced the opening of applications for its upcoming coding boot camp, known as ‘Piscine’. This intensive program will begin on 3rd February and utilizes a unique peer-to-peer, gamified learning methodology. Students who successfully complete the Piscine will gain admission to the academy...
ADNOC Gas plc and its subsidiaries have established a significant long-term strategic partnership with the Emirates Water and Electricity Company (EWEC) to bolster the UAE’s energy transformation. This landmark agreement includes a 10-year flexible natural gas sales and purchase contract between ADNOC Gas Facilities LLC and EWEC, valued at $10 billion. The announcement was made...