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IMF cuts World GDP outlook a third time as inflation, rates jump

Global economic expansion will likely slow to 3.2 per cent this year, less than the 3.6 per cent forecast by the fund in April

Higher Committee for Future Technology and Digital Economy

Sheikh Hamdan to chair Higher Committee for Future Technology and Digital Economy

The higher committee will help shape the future of AI by investing in the metaverse and establishing partnerships to boost Dubai’s digital economy

Covid cases July 26

UAE reports 1,257 new Covid cases, 1,057 recoveries

The Covid-19 nationwide case count has risen to 985,524

Pension of UAE nationals working in Abu Dhabi public schools will increase to 80% of salary

Abu Dhabi: Pension for UAE nationals working in public schools to increase to 80% of salary

The Abu Dhabi Government will spend more than Dhs6.6bn to implement the new pension rate

Gemological Institute of America DMCC

Gemological Institute of America to set up laboratory in Dubai’s DMCC

The new lab, set to open in mid-2023, will be based out of two floors in Uptown Tower as part of a nine-year deal

Sultan Al Neyadi is the first Arab astronaut to join the six-month mission to the International Space Station (ISS)/ Pic: MBRSC

UAE’s Sultan Al Neyadi chosen to be first Arab astronaut to join ISS mission

Al Neyadi will conduct many in-depth and advanced scientific experiments during the six-month space mission scheduled to launch in 2023

Bahrain joins Industrial Partnership for Sustainable Economic Development in Cairo

Bahrain joins Industrial Partnership for Sustainable Economic Development

The partnership aims to establish large joint industrial projects, create job opportunities and contribute to increasing economic output between the partner countries

Covid-19 cases July 25

UAE reports 1,298 new Covid cases, 1,157 recoveries

The Covid-19 nationwide case count has risen to 984,267

Dubai Higher Committee approves allocation of 2000 residential land plots

Dubai Higher Committee approves allocation of 2,000 residential land plots

The step comes as part of the Housing Programme for Dubai Citizens, to meet the requirements and needs of Emirati families

Emirates statement on operations at London Heathrow

UK-UAE travel: Emirates to start third flight to London Gatwick to meet demand

The third daily flight will help serve high demand from customers travelling to and from London this summer

Covid-19 cases July 27

UAE reports 1,359 new Covid cases, 1,268 recoveries

The Covid-19 nationwide case count has risen to 980,325

Droupadi Murmu Indian President

Droupadi Murmu elected as 15th President of India

Hailing from a tribal community in the Indian state of Odisha, the former primary school teacher has served previously as the Governor of Jharkhand, a state in the eastern part of India

UAE participates Arab League’s Economic and Social Council

UAE participates in Arab League’s Economic and Social Council

The UAE highlighted its initiatives to advance the process of joint Arab action in future economic sectors, including the Arab vision of the digital economy

CBUAE quarterly review

Total invested assets in insurance sector rise 5.4% to Dhs77.8bn in Q1 2022: CBUAE

The total number of insurance policies issued increased year-on-year by 10.4 per cent in Q1 2022 to 2.3 million

GE reveals three new brand names

General Electric reveals brand names of three planned future public companies

GE’s portfolio of energy businesses, including GE Renewable Energy, GE Power, GE Digital, and GE Energy Financial Services, to come together as GE Vernova

UAE and Korea discuss cooperation in food security, health, technology

UAE and Korea discuss cooperation in food security, health, technology

Their discussion took place during the virtual ‘UAE-Korea Investment Business Forum’ organised by the Ministry of Economy

Polestar sees 125% increase in sales in H1 2022

Swedish EV company Polestar reports 125% increase in sales in H1 2022

The next major step for Polestar will be its entry into the SUV segment with the global launch of the electric performance SUV, Polestar 3, in October

ADIB net profits hit 1.4bn dirhams in H1 2022

Abu Dhabi Islamic Bank reports net profit of Dhs1.4bn in H1 2022

The bank’s revenue for the first half of the current year improved by 7 per cent to Dhs2.8bn compared to Dhs2.6bn last year

UAE's NMDC group's H12022 results

UAE’s NMDC achieves net profit of Dhs403m in H1 2022

The group’s total assets currently stand at Dhs13.32bn up by 3 per cent compared to the first half of 2021

DEWA announces spend of Dhs40bn in next five years on projects

DEWA to invest Dhs40bn in water, electricity projects in next five years

DEWA says it will continue to invest in and enhance renewables’ generation capacity

Dubai issues decree for commercial properties

Dubai issues law regulating use of commercial lands

The Dubai Land Department has been authorised to conduct inspections of commercial land plots to ensure full compliance with the ‘Musataha’ agreement

Covid-19 cases July 25

UAE reports 1,398 new Covid cases, 1,095 recoveries

The Covid-19 nationwide case count has risen to 977,578

UK inflation at new 40-year high worsens living standards crisis

UK inflation at new 40-year high worsens living standards crisis

Consumer prices rose 9.4 per cent from a year earlier, the biggest increase since February 1982

UAE President concludes two-day state visit to France

UAE President concludes France visit, issues joint commitment for collaboration

The two nations agreed to collaborate across various fields, including peace and stability, food and energy, economy and investment, climate change, healthcare, education, culture and space

UAE and France sign a Comprehensive Strategic Energy Partnership

UAE and France sign two significant energy agreements, launch Business Council

In addition to the CSEP signed by the two nations, ADNOC and TotalEnergies inked a strategic partnership agreement to explore new opportunities for growth across the energy value chain

Golden Visa holders in Dubai will be gifted Esaad privilege card

Golden Visa holders can now avail discounts through Esaad card

The card will provide discounts across several sectors, including healthcare, education, hospitality, entertainment, real estate and restaurants

UAE President in France, sings deals, agreements, MoU's

UAE President in France: Bilateral agreements and MoUs signed

The UAE President was welcomed at a formal reception ceremony in Paris, marking the start of his inaugural state visit to France

covid cases July 18

UAE reports 1,386 new Covid cases, 1,382 recoveries

The Covid-19 nationwide case count has risen to 974,802

Abu Dhabi Accountability Authority to implement fourth phase of its disclosure system/ Getty images

Abu Dhabi Accountability Authority to finalise fourth phase of financial disclosure system

The fourth stage will cover all government entities and companies included in the financial disclosure system to help boost transparency and accountability

Union Coop begins first day of trading on Dubai Financial Market

Union Coop begins first day of trading on Dubai Financial Market

Trading commenced under the symbol ‘UNIONCOOP’ on July 18