The trade relationship between the UAE and the U.S. has strengthened significantly, with merchandise trade growing by 9.47% to reach $34.43 billion in 2024. This increase is up from $31.45 billion in 2023, highlighting a robust economic partnership that has developed over more than five decades. The recent visit of H.H. Sheikh Tahnoon bin Zayed...
Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, the Crown Prince of Dubai and Deputy Prime Minister and Minister of Defense, has issued Executive Council Resolution No. (11) of 2025. This resolution governs the operations of free zone establishments wishing to conduct activities outside their designated areas within the Emirate of Dubai. It is important...
ADNEC Group achieved a record AED 8.5 billion contribution to the UAE economy in 2024, exceeding its 2023 impact of AED 7.4 billion. This milestone reflects its growing role in supporting the UAE’s push for economic diversification and a knowledge-based economy, according to WAM. Humaid Matar Al Dhaheri, ADNEC Group’s Managing Director and CEO, described...
Impact46, acting as the fund manager for the Venture Capital InsurTech Fund and Impact Growth Fund, has successfully sold all of its shares in Rasan Information Technology Company. This transaction involved 13,296,836 shares, which constitute approximately 17.16% of Rasan’s total share capital. The sale was executed through an Accelerated Bookbuild Offering, and the offering size...
The United Arab Emirates has approved a six-year investment plan aimed at enhancing the country’s economic resilience in the face of unpredictable international markets and politicized trade policies. This strategic move is designed to bolster the nation’s ability to navigate global economic challenges while fostering growth and stability. The investment plan will channel resources into...
India has emerged as the leading source of foreign direct investment (FDI) in Dubai, contributing $3.018 billion in 2024. This investment marks a significant increase from $589 million in 2023, representing a fivefold growth. The data highlights India’s dominant position among top investors in the emirate, followed by the United States, France, and the United...
The United Arab Emirates has set a target to boost its annual foreign direct investment inflows to 240 billion dirham, which is approximately $65.35 billion, by the year 2031. This announcement was made by Dubai’s ruler, Sheikh Mohammed bin Rashid al-Maktoum, in a recent post on X. In 2023, the UAE recorded foreign direct investment...
President Abdel Fattah Al-Sisi convened with Prime Minister Mostafa Madbouly and Finance Minister Ahmed Kouchouk to review Egypt’s financial performance and outline the key features of the upcoming fiscal year (FY) 2025/26 budget. The proposed budget includes increased allocations for the “Takaful” and “Karama” social protection programs, reflecting the government’s commitment to enhancing support for...
The United Arab Emirates (UAE) is witnessing a significant evolution in its tax culture, which is crucial for fostering a more sustainable and diversified economy. Analysts and tax experts emphasize that this shift will increase transparency and boost investor confidence. The corporate sector has quickly aligned itself with tax compliance due to effective awareness campaigns...
The Sharjah Ramadan Majlis 2025 convened on Thursday in Mleiha, focusing on the future of Sharjah’s industrial sector and its significant impact on the local economy. The discussion highlighted multiple strategies aimed at enhancing economic development in the region, fostering partnerships between government entities and private stakeholders. According to WAM, the event featured various experts...