#Economy

Empowering women entrepreneurs: unlocking a multi-trillion-dollar opportunity

The road to business growth and sustainability for women entrepreneurs is often fraught with obstacles, writes the author

UAE seals bilateral trade talks with Malaysia

UAE seals bilateral trade talks with Malaysia

Non-oil trade between the UAE and Malaysia reached $2.5bn in the first half of 2024, a 7 per cent increase compared to the same period in 2023

UAE, Jordan sign comprehensive economic partnership agreement

The UAE’s latest CEPA deal is with this Arab nation

The deal builds on robust UAE-Jordan economic ties, with non-oil trade reaching over $4.2bn in 2023

UAE, Serbia strengthen economic partnership, exchange CEPA

UAE, Serbia strengthen economic partnership, exchange CEPA

This agreement is poised to deepen trade ties and investment opportunities, focusing on priority industries, creating jobs, and bolstering supply chains

Sheikh Mohammed approves new master plan for Expo City

Sheikh Mohammed approves new master plan for Expo City Dubai

Building on its legacy as the site of the 2020 World Expo and COP28, the development will be a catalyst for Dubai’s progress in various fields

Abu Dhabi’s non-oil economy grew 6.6% in Q2 2024

Abu Dhabi’s non-oil GDP surges by 6.6% in Q2 2024

The finance and insurance sector registered a record 13.4 per cent growth in Q2 2024, contributing 7.4 per cent to the GDP

Saudi Arabia expects deficit of 2.9% of GDP in 2024

Saudi Arabia expects deficit of 2.9% of GDP in 2024

The Gulf state expects to post a fiscal deficit of SAR118bn, wider than the SAR79bn projected in the 2024 budget statement last December

Shaping Sharjah’s transformation: Shurooq CEO shares insights

Shaping Sharjah’s transformation: Shurooq CEO shares insights

Ahmed Obaid Al Qaseer says Shurooq is harnessing Sharjah’s cultural heritage, while implementing initiatives that boost tourism and investment

How Bidzi plans to revolutionise UAE’s SMEs market

Bidzi forays into the UAE to revolutionise M&A market for SMEs

The platform addresses common challenges in the M&A process, such as high costs and fragmented service models, streamlined, and cost-effective alternative

UAE President to begin state visit to US on Sept 23

UAE President to begin state visit to US on Sept 23

The UAE-US relationship, which spans more than five decades, is marked by robust economic ties, with bilateral trade reaching $31.4bn in 2023

GCC poised for strong growth in 2025: ICAEW report

GCC poised for strong growth in 2025: ICAEW report

The GCC’s non-energy sectors, including tourism, trade, and finance, are pivotal in driving this growth, with expectations of a 4.2 per cent expansion in 2024 and 4.4 per cent in 2025

Japan, UAE to enter economic partnership talks

Japan, UAE to enter economic partnership talks

The two countries agreed last year to cooperate on technology and climate change, including investments in the chip and battery sectors

UAE, China look to strengthen comprehensive strategic partnership

UAE President Sheikh Mohamed bin Zayed Al Nahyan and Chinese Premier Li Qiang met this week to discuss economic, political, and cultural cooperation between the nations

How Abu Dhabi’s investment legacy is fostering economic development

How Abu Dhabi’s investment legacy is fostering economic development

The city benefits from a thriving, diversified economy, fueled by strategic vision, structural reforms and prudent economic policies

Türkiye firms face wave of closures amid economic reckoning

Türkiye firms face wave of closures amid economic reckoning

Almost 15,000 companies closed down in the first seven months of the year, up 28 per cent from 2023

UAE’s economy grew 3.4% in first quarter of 2024

UAE’s economy grew 3.4% in first quarter of 2024

The financial and insurance sector, trade activities and manufacturing were among the biggest contributors to non-oil GDP

Saudi Arabia’s real GDP shrinks by 0.3% in Q2 2024, oil weighs

Saudi Arabia’s real GDP shrinks by 0.3% in Q2 2024, oil weighs

The kingdom’s seasonally adjusted real GDP grew by 1.4 per cent compared to Q1 2024, as non-oil activities rose by 4.9 per cent YoY

Egypt’s central bank leaves overnight interest rates steady

Egypt’s central bank leaves overnight interest rates steady

The central bank said that the lending rate remained at 28.25 per cent, while the deposit rate stood at 27.25 per cent

Egypt counts on foreign funds to buy gas as power crisis worsens

Egypt counts on foreign funds to buy gas as power crisis worsens

The country’s domestic gas output plummeted to a six-year low in May, down around 25 per cent from its 2021 peak

Bahrain to impose 15% minimum tax on large multinationals

Bahrain to impose 15% minimum tax on large multinationals

The government urged eligible businesses to register with the National Bureau for Revenue before the deadline

Egypt’s net foreign assets positive for third straight month in July

Egypt’s net foreign assets positive for third straight month in July

The North African country has been using its net foreign assets to help prop up its currency since at least September 2021

Central Bank of Egypt expands lending to government

Egypt central bank expands lending to government, but inflation slows

Economists say central bank lending risks undermining the economy by expanding the money supply and fuelling inflation

Turkey commits to agricultural support for 2025/27

Turkey announces agricultural support payments for 2025-2027

Turkish farmers have long complained of sharp hikes in the prices of fertilisers and fuel due to the sharp depreciation in the lira

Egypt eyes shift from commodity subsidies to cash payments by July 2025, PM says

Egypt eyes shift from commodity subsidies to cash payments by July 2025, PM says

Over 60 million people have access to discounted prices on staples such as pasta, vegetable oil and sugar through state-run outlets

Egypt

IMF softens some conditions on Egypt’s $8bn finance package

The latest review, approved in late July but released only on Monday, was Egypt’s third and followed the expansion of the package size in March

UAE’s non-oil foreign trade hits record Dhs1.4tn in H1 2024

Historic high: UAE’s non-oil foreign trade tops Dhs1.4tn

The UAE’s non-oil exports to its top 10 trade partners rose by 28.7 per cent, while trade with all other nations increased by 12.6 per cent

Qatar on track to double economy by 2031: Here's what's driving growth

Qatar on track to double economy by 2031: Here’s what’s driving growth

Key growth sectors include real estate, construction, financial services, trade, manufacturing, logistics and tourism, the Standard Chartered report shared

Egypt’s foreign debt drops $7.4bn in Q1 2024

Egypt’s foreign debt drops $7.4bn in first quarter

The country’s finances were boosted in February when it sold the development rights to Ras El-Hekma to the UAE for $35bn

Oman’s wealth fund boosts assets to OMR19.6bn in 2023

Oman Investment Authority boosts assets to OMR19.6bn in 2023

The sovereign wealth fund said it recorded more than OMR1.7bn in profit and contributed OMR800m to the state’s general budget

Egypt gets over 100 offers in massive wheat tender

Egypt receives over 100 offers in massive wheat tender

Olam presented the lowest offer for 60,000 metric tonnes for an October 1-15 shipping period