The new initiative, which is aligned with D33, seeks to raise the contribution of the circular and green economy to Dubai’s GDP
The bank has now raised its key one-week repo rate by 4,150 basis points from 8.5 per cent since last June
The trade pact is expected to lead to one of the world’s largest free trade areas, between Türkiye and the GCC, with a total value of $2.4tn
Egypt’s commitment to exchange rate liberalisation combined with budgetary consolidation targets are crucial for boosting international confidence
Sheikh Mohammed chaired the Cabinet meeting which approves key decisions on enhancing the UAE’s labour market competitiveness
The funding program will prioritise economic stability, investments and trade as well as migration and security
The data points to a positive trajectory for the kingdom’s economy, driven by diversification, and growth across multiple sectors
With Bahrain’s FDI stock relative to GDP surpassing the global average at over 81 per cent, international investors continue to trust its competitive value proposition
Marking a significant focus on bolstering the housing sector, over Dhs59bn has been earmarked for the development of housing and public facilities throughout Abu Dhabi
The latest data shows that the economy contracted by 4.3 per cent in Q4 2023 after a 16.2 per cent year-on-year decrease in oil activities
As many as 60 per cent of Egypt’s 106 million citizens are estimated to be below or close to the poverty line
The central bank raised the overnight lending rate to 28.25 per cent and its overnight deposit rate to 27.25 per cent
The almost 30-year-old global watchdog tries to strike deals by consensus, but such efforts are becoming more and more difficult
The UAE is hosting the WTO’s MC13, the organisation’s highest decision-making body, as well as representatives of the 166 member states from February 26-29
IMF spokesperson told a regular news briefing that IMF staff and Egyptian authorities agreed on the main elements of program changes
Non-oil GDP grew 4.6 per cent in 2023, while overall GDP contracted 0.9 per cent
The country has initiated a raft of bilateral trade, investment and cooperation deals with several fast-growing economies
The government had estimated a deficit of SAR82bn in its December budget statement and is forecasting a deficit of SAR79bn in 2024
The two countries also signed a bilateral investment treaty and exchanged cooperation agreements covering electrical interconnection, trade, and digital infrastructure
The platform currently links 108 out of 120 Arab banks signed up, with a target of 160 by the end of 2024
The agreements seek to eliminate double taxation, additional taxes, indirect taxes, and tax evasion while addressing cross-border trade challenges
The evaluation of the UAE’s Free Zone Corporate Tax regime was part of the OECD’s comprehensive review of taxation regimes worldwide
IMF revised its GDP growth forecast for the Middle East and North Africa region downwards to 2.9 per cent this year
The Egyptian pound, fixed at EGP30.85 to the dollar since March, traded on the black market earlier this month as low as EGP71 to the dollar
Dubai lives up to its reputation as the ‘City of Gold’, hosting 72,500 millionaires, 212 of whom are centi-millionaires and 15 billionaires
The preliminary data shows that Saudi Arabia’s economy contracted at a slower pace in Q4 2023 after a decline of 4.4 per cent in the previous quarter
From infrastructure to agriculture, from healthcare to income tax, expectations are high for the Indian government to provide relief despite inflationary pressures in its budget announcements
Inflation has now been running below the Fed’s target on a seven-month basis while US economic growth and the job market have remained largely intact
The projected deficit for the next fiscal year is 13.5 per cent lower than that forecast in the current year
The initiative is open to all SMEs founded in Dubai and is designed to empower businesses to expand internationally