Abu Dhabi Industrial Strategy launched

Abu Dhabi Industrial Strategy launched, Dhs10bn earmarked for six programmes

The strategy, via six programmes, will create 13,600 skilled jobs, with a focus on Emirati talent and boost Abu Dhabi’s trade with international markets

Metals haven’t crashed this hard since the Great Recession

For a metal like copper, its uses in everything from heavy industrial machinery to advanced electronics mean the market is tightly linked to economic shifts

Dubai Chambers

Dubai Chambers welcomes over 1,600 new African companies since October 2021

Dubai International Chamber operates four representative offices in Kenya, Ethiopia, Mozambique and Ghana

Netflix

Netflix fires another 300 employees in latest round of cuts

The job losses are across the company, with most affected workers based in the US

UK launches negotiations for free trade deal with GCC

The deal would add at least £1.6bn a year to the UK economy and support new jobs across key industries

Sheikh Hamdan visits Dubai Chambers

Sheikh Hamdan visits Dubai Chambers, reviews future plans and projects

The Crown Prince stressed the importance of working continuously to consolidate Dubai’s position as an attractive business and investment destination

Make it in the Emirates forum

Make it in the Emirates Forum: UAE companies launch 300 products, allocate Dhs110bn to support manufacturing

More than 1,300 delegates attended the event, including representatives from leading national companies, manufacturers and investors

internal controls

Why internal controls are so critical for organisations

Companies should not wait for regulators to fix gaps, they would do well to proactively establish a strict internal control framework

Israel

Calev’s newsroom: Building bridges between UAE and Israel

The highlight of the relationship between Israel and the UAE is not its economic or political aspects, but rather the human side

advertisement

Misleading advertisement, promotions punishable offence in UAE

Violators will face stiff penalties, including imprisonment and a financial fine

expensive cities

These are the world’s 20 most expensive cities for expats

ECA International analyses the cost of consumer goods and services in more than 490 locations worldwide, while accommodation data is also factored in

UAE’s trade surplus with GCC countries equals Dhs134.7bn in 2021

UAE imports from GCC countries in 2021 increased to Dhs56.3bn, compared to Dhs43.8bn in 2020

Dubai

Dubai welcomes 5.1 million visitors in first four months of 2022

The emirate’s hotel occupancy stood at 76 per cent during the January-April period

Central banks to increase gold holdings over crisis concerns

Anticipated changes in the international monetary system and concerns over rising economic risks in reserve currency economies are also major factors

UAE and Japan strengthen bilateral ties in various sectors

The meetings focused on UAE’s preparations to host COP28 in 2023 and strengthen economic, energy and industrial cooperation between the two countries

Inflation doesn’t stop UAE’s biggest business upswing this year

The rate of job creation in UAE was the quickest in seven months despite the inflation

World Environment Day: Scaling a circular economy

We look at some companies in the UAE that have championed a circular economy, while promoting sustainability and conscious consumerism

Middle East IPOs

Middle East IPOs on track for best ever first half as oil surges

IPOs in the Middle East have fetched $11.4bn in the first five months of the year

Agreement

UAE, Israel sign comprehensive economic partnership agreement

The agreement will support service sectors such as hospitality, financial services, distribution and construction

uae jordan egypt industrial partnership

UAE, Egypt and Jordan agree on $10bn industrial partnership investment fund

The five areas that the three countries will cooperate on include food, agriculture and fertilisers; pharmaceuticals; textiles; minerals and metals; and petrochemicals

non-oil foreign trade

UAE reports nearly Dhs500bn in non-oil foreign trade for Q1 2022

The Q1 2022 figure of Dhs499.7bn marked a growth of 20.5 per cent over the same period in 2021

Ajman free zone

Ajman Free Zone, Zajel sign MoU to offer shipment services

The collaboration will allow the freezone’s business partners and customers to benefit from solutions provided by Zajel locally and internationally

Oil pump

Oil rebounds after two-day drop as traders weigh products, China

Investors have shunned equities and many commodities after Federal Reserve officials reaffirmed much tighter monetary policy lies ahead to cool an overheating economy and tame inflation

Ajman

Ajman issues 1,275 new business licences during Q1 2022

It indicated a 10 per cent year-on-year increase compared to the number of licences issued in Q1 2021

ADNOC

ADNOC begins process to list Borouge on Abu Dhabi Securities Exchange

It intends to float 10 per cent of its petrochemicals joint venture that it entered into with Austria’s Borealis

Landmarks Of The City Of Riyadh, Kingdom Of Saudi Arabia

Saudi Arabia posts $15bn surplus on soaring oil income

The boost was mainly driven by oil revenue, which rose 58 per cent compared to last year

Saudi Aramco

Saudi Aramco’s profit soars as oil prices and production jump

Aramco’s output averaged 10.2 million barrels a day between January and March, up 20 per cent year-on-year

Abu Dhabi non-oil trade

Abu Dhabi’s non-oil foreign trade reached Dhs61.5bn in Q1 2022

Exports recorded a growth of 35 per cent year-on-year and were valued at Dhs24.449bn

Digital payment

Cashless economy: How adoption of digital payments is on the rise

E-commerce represents a significant avenue through which the adoption of digital payments can expand growth opportunities

Planet Earth

Planet in peril: How the goal to limit global heating is on life support

The planet’s warming is likely to pass 1.5°C, UN scientists warn