The Sharjah Economic Development Department (SEDD) has formed a partnership with the Department of Statistics and Community Development (DSCD) to improve economic data collection and classification in the emirate. This collaboration aims to enhance the quality and accuracy of economic data, which is essential for conducting precise economic surveys across various companies and institutions. The...
Dubai’s real estate market has achieved a significant milestone, recording sales worth AED 100 billion from the start of 2025 until March 4, according to W Capital, a Dubai-based real estate brokerage. This achievement marks the fastest time frame to reach such a sales figure, occurring within just 44 working days. W Capital’s analysis, based...
Dubai International Chamber has announced that 62.7% of the multinational companies (MNCs) it attracted in 2024 are from Asia. This statistic highlights the growing importance of the Asian market in Dubai’s business landscape. The data was revealed as part of the Dubai International Chamber’s efforts to enhance the emirate’s position as a global business hub....
The United Arab Emirates is actively enhancing its fintech sector, which currently accounts for 8.7 percent of the country’s GDP. The UAE aims to increase this contribution to 12 percent by 2031, highlighting the fintech sector’s critical role in promoting sustainable economic growth and innovation across various industries. Abdulla bin Touq Al Marri, the UAE’s...
Middle Eastern countries have secured $39 billion in investments and construction contracts from China under the Belt and Road Initiative (BRI) in 2024. This figure positions the region as the leading beneficiary of the infrastructure program, according to the China BRI Investment Report 2024, which is a joint effort by the Fudan International School of...
The UAE banking sector demonstrated robust performance in 2024, characterized by a notable increase in lending and improved cost efficiency. According to a report by Alvarez & Marsal (A&M), the sector saw double-digit growth in lending, with a remarkable 12.6 percent year-on-year (YoY) increase across the top 10 banks. This growth was heavily influenced by...
Egypt-based fintech company MNT-Halan has announced its expansion into the UAE, marking a significant growth phase for the unicorn startup. Co-founder Mounir Nakhla emphasizes that the company has only begun to tap into its full potential, highlighting the mission to redefine financial access for millions. Founded in 2018, MNT-Halan originally launched as a ride-hailing platform....
Abu Dhabi-based sovereign wealth fund ADQ has initiated the year by forming two significant global investment partnerships aimed at enhancing its influence in emerging markets. The fund plans to deploy capital in critical areas such as infrastructure and urban development. On February 12, ADQ announced a Memorandum of Understanding (MoU) with the International Finance Corporation,...
With big plans and new rules, the United Arab Emirates is setting itself up to be a star in the economy of the future. The UAE has become one of the most forward-thinking and innovative countries in the world as global economic trends change. It has done this by building a unique economic model that...
The countries in the Gulf Cooperation Council (GCC) had a total of $804.1 billion in foreign savings at the end of the first half of 2024. This number shows how strong these countries’ economies are in the face of changes in the world economy. Not only does this large amount show that the GCC is...