The plan will develop financial policies to promote economic growth, create a competitive business environment and strengthen international economic relations
The country’s non-oil activities grew by 4.5 per cent year-on-year in the quarter to Dhs312bn
This represents a robust rise of 363 per cent compared to the same period in 2022
The agreements cover sectors including energy, industry, advanced technology, AI, space, health, transport, conservation and circular economy
From 2013-2022, the trade growth rate between the two countries was 18.2 per cent, growing from Dhs159.72bn to Dhs188.8bn
The economy will fall by 0.1 per cent this year if the government raises production in September and by 1 per cent if it holds the course for the rest of 2023
The economic freezone seeks to provide an adaptive and supportive ecosystem for investors looking to expand their horizons and businesses
The contribution of Dubai government bodies was worth Dhs552.51m, while federal government entities granted contracts worth Dhs88.2m
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The World Bank has forecasted a 2.8 per cent growth in the UAE’s real GDP for this year
According to SCAD estimates, Abu Dhabi’s non-oil GDP (at constant prices) surpassed the highest quarterly value of the past nine years, reaching Dhs146bn in Q1 2023
The statistics authority attributed the growth of the economy to innovative economic initiatives related to non-oil sectors and activities
The licence scheme will enhance the country’s competitiveness and boost growth while encouraging the digital transformation of the economy
The driver behind the changes in Saudi Arabia’s cost of living is an increase in the cost of groceries and personal care items
The two countries agreed on new plans in the field of entrepreneurship, including programs and facilities to foster startup growth
The deal accounts for more than half of the $10bn investment agreements that were signed on the first day of the Arab-China business conference
Ukraine presented its economic transformation strategy and invited UAE funds to participate in the development of its wealth fund
The fund projected that Saudi Arabia would swing to a deficit in 2023 on lower oil revenue
The first quarter saw the chamber achieve its goal of establishing more than 100 business groups from various sectors and economic activities
The country’s fiscal and debt positions strengthened in 2022 on the back of higher oil prices and budget consolidation measures
The central bank said the net foreign assets dropped to SAR1.54tn in April from SAR1.57tn the previous month
The two countries agreed to strengthen their cooperation and exchange knowledge, experiences and best practices in the field of tax policy
The UAE has so far concluded four CEPAs with India, Israel, Indonesia and Turkey and the first two have already come into force
The decision aims to clarify the application of the corporate tax regime for individuals and ensures that only business income is taxed
The economies of the Gulf Cooperation Council are projected to grow by 2.5 per cent in 2023 and 3.2 per cent in 2024
The Sydney office is the second to be inaugurated in 2023 and expands the chamber’s global network to 17 representation offices
The city’s non-oil sectors witnessed significant growth of Dhs43bn in 2022 and contributed 50 per cent to the overall GDP
Economic expansion was driven by a 5.8 per cent increase in non-oil activities
Saudi banks stand to remain on a profitable path in 2023 with corporate lending continuing to drive credit growth in the sector
Both the countries agreed to double the volume of trade and investment exchange over the next seven years