The United Arab Emirates (UAE) is reaping the benefits of its significant investments in automation and renewable energy, which are helping to lower manufacturing costs. The UAE has made heavy and early investments in advanced technologies and has built a strong reputation in global trade, positioning itself as a leader in the manufacturing sector. Amro...
The UAE plans to invest over AED40 billion ($11 billion) in advanced manufacturing over the next five years. This initiative aims to establish the UAE as a center for advanced manufacturing and to accelerate the diversification of its economy away from oil dependence. Dr. Sultan Al Jaber, the federal minister of industry and advanced technology,...
UAE stock indices experienced an upswing at the close of trading on Tuesday. The Abu Dhabi Index rose by 0.58%, reaching 9 290 points with trading volumes amounting to 1.17 billion dirhams. Meanwhile, the Dubai Index increased by 0.43%, hitting 5 078 points amidst trading of 520.3 million dirhams. The growth in the Dubai Index...
The UAE has welcomed 90 new companies into its NextGen Foreign Direct Investment (FDI) program, reinforcing its reputation as a key destination for multinational technology partnerships. This initiative, launched by the Ministry of Economy, aims to attract innovative businesses and foster economic growth in the region. The Ministry of Economy highlighted that this influx of...
The International Free Zone Authority (IFZA) is broadening its international reach, emphasizing its commitment to supporting the growth of the UAE economy. Martin G. Pedersen, the Chairman of IFZA, highlighted that Dubai is increasingly viewed as a launchpad for global entrepreneurs, bolstered by the UAE’s top ranking in the Global Entrepreneurship Index of 2022, where...
Abu Dhabi is gearing up to host the fifth edition of Investopia, which will run from March 31 to April 2, 2026. The event has been extended to three days, reflecting the growing interest from participants worldwide. Investopia aims to create an influential global platform where leaders, ministers, officials, investors, entrepreneurs, and economic experts gather...
Abdullah Bin Touq Al Marri, the Minister of Economy, has reiterated the United Arab Emirates’ strong commitment to implementing the provisions of the Agreement on Facilitating and Developing Trade Exchange among Arab Countries. He emphasized the necessity of updating this agreement to reflect current economic developments and challenges. During his speech at the 115th session...
The UAE’s insurance market witnessed remarkable growth in 2024, with gross written premiums (GWP) reaching AED64.5bn ($17.6bn), up by 21% from AED53.3bn in 2023. The Central Bank of the UAE (CBUAE) highlighted this surge in its annual statement, underscoring the nation’s continued leadership in the region’s financial sector. This growth in the insurance sector aligns...
Ajman Bank has achieved a significant milestone by reporting its highest annual profit before tax of AED 440 million, marking a remarkable growth of 213% compared to a net loss of AED 390 million in 2023. This impressive performance was shared during a board meeting presided over by H.H. Sheikh Ammar bin Humaid Al Nuaimi,...
Abdullah bin Touq Al Marri, the Minister of Economy, participated in a session titled ‘Global Competitive Edge in an Ever-changing World’ at the 55th World Economic Forum’s annual meeting in Davos . The event, themed ‘Collaboration for the Intelligent Age,’ features a UAE delegation led by H.H. Sheikha Latifa bint Mohammed bin Rashid Al Maktoum,...