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Category: Economy
The Abu Dhabi Investment Office (ADIO) has signed a strategic agreement with the Tokyo Metropolitan Government’s Bureau of Industrial and Labor Affairs. This partnership aims to strengthen economic ties and promote growth between Abu Dhabi and Tokyo. Credit: Abu Dhabi Media Office Under this agreement, both parties will collaborate on various initiatives that can enhance...
Egypt has successfully attracted investments exceeding $47 billion from more than 1,800 American companies over the past two decades. This information was disclosed by Prime Minister Mostafa Madbouly during the US-Egypt Policy Leaders Forum. The Prime Minister highlighted that these American firms operate in a variety of sectors, including energy, industry, information technology, financial services,...
The United Arab Emirates has ranked 10th globally in a report measuring the soft power influence of 193 nations, which is notably impressive given its position of 27th by GDP, 86th by population, and 116th by geographical area. This ranking places the UAE ahead of its Gulf neighbors, with Saudi Arabia at 20th, Qatar at...
The Central Bank of Egypt’s (CBE) Monetary Policy Committee (MPC) has announced a reduction in key interest rates by 100 basis points (bp). This decision was communicated through a press release issued on May 22nd. As a result of this cut, the overnight deposit rate now stands at 24%, while the overnight lending rate has...
Dubai’s stock index has reached new 17-year highs this week, driven by rising first-quarter earnings and a strong non-oil economy that has attracted investors to UAE stocks over the larger Saudi market. The Dubai Financial Market General Index has seen a notable increase, highlighting the growing investor confidence in the region. In contrast, Gulf markets,...
Abu Dhabi is actively seeking to establish partnerships in the water sector with France. A high-level government delegation led by Dr. Abdullah Hamid Al Jrawan, Chairman of the Department of Energy in Abu Dhabi, attended the Global Water Summit to discuss potential collaborations. The delegation included representatives from various water and electricity companies based in...
The Saudi Ministry of Economy and Planning and Spain’s Ministry of Economy, Trade, and Business have formalized a new agreement to bolster economic relations between the two nations. The memorandum of understanding (MoU) was signed on Wednesday by Saudi Minister of Economy and Planning Faisal Alibrahim and the visiting Spanish Minister of Economy, Trade, and...
Invest Qatar has officially launched a $1 billion incentives program aimed at enhancing Qatar’s reputation as a major global business hub. The announcement was made during the 5th edition of the Qatar Economic Forum. This new initiative offers a comprehensive suite of incentive packages tailored for both local and international investors. According to QNA, these...
Sheikh Dr. Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, recently witnessed the signing of a significant agreement to digitise UNESCO’s global archive. This initiative is backed by a $6 million grant from the Sharjah Book Authority. The signing occurred on Wednesday morning at the UNESCO headquarters in Paris, with Sheikha...
In the UAE, millions of date palms are trimmed each year, resulting in substantial amounts of agricultural waste, particularly palm fronds. Traditionally, these fronds were used in building methods, but today they are often discarded or burned. Desert Board, a startup based in the UAE, aims to change this narrative by transforming palm fronds into...