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Category: Economy
Egypt may soon receive additional funding from the International Monetary Fund (IMF), according to spokesperson Julie Kozack. The IMF is currently reviewing a new financing program, which could help the country manage its rising economic challenges. Cairo is already benefiting from an $8 billion financing agreement with the IMF, which was expanded in 2022 to...
The UAE has unveiled a set of tax incentives for multinational companies (MNCs) operating within the country. These measures, effective from January 1, 2025, are designed to encourage investment activities and strengthen the UAE’s position as a global business hub. MNC entities in the UAE will be subject to a corporate tax rate of 15%,...
Workers in the UAE are now required to renew their Involuntary Loss of Employment (ILOE) insurance for a two-year period, as per an update highlighted by Gulf News. This change aims to prevent policy lapses and reduce the frequency of renewal reminders, offering greater convenience and continuous coverage for employees. The renewal process is straightforward....
Dubai Chambers has entered into a partnership with the U.S. Chamber of Commerce to enhance trade and economic cooperation between Dubai and the United States. The Memorandum of Understanding (MoU) was signed at Dubai Chambers’ headquarters by Salem Al Shamsi, Vice President of International Relations at Dubai Chambers, and Steve Lutes, Vice President for the...
The United Arab Emirates recently successfully returned from its first joint expedition with the Bulgarian Antarctic Research Institute, marking a significant milestone in scientific exploration. This inaugural mission to Antarctica underscores the UAE’s commitment to advancing global scientific research and strengthening international partnerships in meteorology and climate science. The expedition aimed to address pressing climate...
The global microgreens market was valued at $3.24 billion in 2024 and and is expected to grow USD 7.97 Billion in 2032 at a compound annual growth rate (CAGR) of 10.5% from 2024 to 2032. This growth is largely fueled by increasing consumer awareness of the nutritional benefits of microgreens, a rising demand for premium food products, and the growing...
The Ministry of Economy in the UAE has unveiled a new roadmap for “Green Intellectual Property (IP)” aimed at enhancing innovation, accelerating technology localization, and fostering new projects within the realms of the new economy, environmental sustainability, and the circular economy. This initiative is set to take place over a three-month period and is designed...
For the first time, the UAE’s foreign trade has reached an impressive Dh3 trillion by the end of 2024, as announced by Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai. He described this achievement as a “historic milestone” in a post on X. Sheikh Mohammed highlighted...
The UAE and Germany have reaffirmed their strong economic partnership during the UAE-German Business Forum held in Abu Dhabi at the Abu Dhabi Global Market (ADGM). The event brought together senior officials, business leaders, and private sector representatives from both nations to explore collaboration in key sectors such as clean energy, advanced technology, and logistics....
The UAE has made it easier for content creators, social media influencers, and filmmakers to live and work in the country with the introduction of the UAE Golden Visa for Content Creators. This visa offers long-term residency for up to 10 years without the need for a sponsor, giving creative professionals the freedom to focus...