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...
H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum has reviewed the Economic Security Center of Dubai’s strategic plan for 2025-2030. This new strategy is designed to enhance Dubai’s economic stability and growth by identifying investment opportunities, addressing economic risks, and protecting society from economic crimes. It aims to reinforce Dubai’s position as a global...
The Gulf Cooperation Council (GCC) is strategically harnessing the rising global demand for sustainable finance to diversify its economies and advance towards net-zero goals. A new report by KPMG Lower Gulf and First Abu Dhabi Bank (FAB) highlights the critical role that sustainable finance plays in fostering economic growth, job creation, and diversification throughout the...
Dubai has established itself as a premier destination for international conferences and corporate meetings in 2024, successfully securing the opportunity to host a remarkable total of 437 events. This achievement, driven by Dubai Business Events (DBE), the city’s official convention bureau that operates under the Dubai Department of Economy and Tourism, represents a 20% increase...
President His Highness Sheikh Mohamed bin Zayed Al Nahyan and His Excellency Dr. William Samoei Ruto, President of Kenya, participated in the signing of the UAE-Kenya Comprehensive Economic Partnership Agreement (CEPA) at Qasr Al Bahr in Abu Dhabi. This far-reaching agreement aims to deepen trade and investment ties, strengthen supply chains, and enhance market access...
The UAE is projected to see a substantial 13 percent net increase in consumer spending intentions for 2025, marking the highest growth rate globally, according to a study released on Monday. This contrasts sharply with global spending intentions, which are anticipated to decline by a net 12 percent, as reported in the 2025 Global Consumer...
On January 13, 2025, H.H. Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, the Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, along with Anwar Ibrahim, the Prime Minister of Malaysia, witnessed the signing of a Memorandum of Understanding aimed at fostering joint investment in artificial intelligence (AI). This agreement...
Sheikh Khaled bin Abdullah bin Sultan Al Qasimi, the Chairman of Sharjah Ports, Customs and Free Zones Authority, inaugurated the 20th edition of the SteelFab 2025 exhibition today. This event is recognized as the largest gathering for the metal-manufacturing industry in the Middle East and North Africa. As WAM reports, organized by Expo Centre Sharjah...
The industrial sector in the UAE has experienced a notable increase in financing, bolstered by strong support from both government and private entities. This collaborative effort is essential for driving industrial growth and achieving the ambitious goals set forth in the “Operation 300 Billion” initiative. The financial support is crucial, as a well-funded industrial sector...
Egypt’s annual inflation rate dropped to 23.4% in December 2024, down from 25% the previous month, according to the Central Agency for Public Mobilization and Statistics (CAPMAS). This decline was mainly driven by a 1.7% dip in food and non-alcoholic beverage prices, with vegetables showing the most significant drop of 14%. Other food items like...