Economy

NEWS DESK

Arab Health event and congress contributed US$269.7 million to Dubai’s economy

News Desk 1 12/12/2024 0

Arab Health, the Middle East’s largest and most influential healthcare event and congress, has underscored its importance to the Dubai economy, contributing US$269.7 million in 2024. This economic impact boosted key sectors, including tourism, hospitality, logistics and healthcare investments.

NEWS DESK

Over 50 experts gather to share insights on how businesses can build a thriving circular economy

News Desk 1 07/11/2024 0

The 1st International Conference on Business Management, Entrepreneurship, and Circular Economy, organized by the American University of Ras Al Khaimah (AURAK), provided valuable insights into how businesses and entrepreneurs can find the right balance to build a thriving circular economy. The two-day conference, held from November 4 to 5, featured 58 speakers, three

NEWS DESK

Ivory Coast Gains Significant Boost to Digital Economy with Launch of Raxio Data Centre

News Desk 1 25/09/2024

Raxio Group today inaugurated its state-of-the-art data centre in Abidjan, Ivory Coast, Raxio Côte d’Ivoire (CIV1). Marking the fifth data centre launch in its current portfolio and the company’s third consecutive launch this year alone, with Tier III accreditation by international industry body the Uptime Institute, Raxio aims to play a pivotal role in the […]

NEWS DESK

Digital Cooperation Organization launches Digital Economy Navigator to bridge the digital economy gap in countries worldwide

News Desk 1 23/09/2024

The Digital Cooperation Organization (DCO), a global multilateral organization committed to enabling digital prosperity for all by accelerating the inclusive growth of the digital economy, has launched its inaugural Digital Economy Navigator (DEN) that enables countries to better navigate the paths to digital economy maturity, find opportunities for growth, benchmark

NEWS DESK

Fourth Edition of EDB Connect Forum Fosters Strategic Partnerships

News Desk 2 24/06/2024

Emirates Development Bank (“EDB” or “the Bank”) today hosted the fourth edition of its EDB Connect forum series at the Mövenpick Resort – Al Marjan Island in Ras Al Khaimah (RAK). This significant event, held in partnership with the Ministry of Industry and Advanced Technology’s “Make it in the Emirates” initiative, convened key

NEWS DESK

Early French elections shake investors’ confidence in the economy

News Desk 2 11/06/2024

Financial markets were taken aback by French President Emmanuel Macron’s announcement to hold early elections, which has raised questions about his pro-business agenda and the country’s already precarious finances. Market reactions:Following the announcement of a sell-off of French assets on Monday, investors are requesting higher returns on French bonds than on German

NEWS DESK

Visa Brings Simplicity and Convenience to Booming Subscription Economy

News Desk 2 10/06/2024

Visa (NYSE: V), a world leader in digital payments, today announced the launch of Subscription Manager, a new, all-in-one service for financial institutions to provide Visa cardholders with a simple, convenient way to track their subscriptions, all from the palm of their hands. The global subscription market is on a steady rise, expected to reach […]

NEWS DESK

Dubai Ranks First Globally in FDI for Cultural and Creative Industries 2023

News Desk 2 06/06/2024

Dubai has topped the Foreign Direct Investment (FDI) Index for cultural and creative industries in 2023, according to the ‘fDi Markets’ report by the Financial Times. This ranking reaffirms Dubai’s leadership and enhances its competitiveness as a global capital of the creative economy. The emirate ranked first globally as the top destination for job creation

NEWS DESK

Emirates Environmental Group’s 3rd Panel Discussion of 2024 Echoes the importance of stable economy and society

News Desk 2 30/05/2024

Emirates Environmental Group (EEG), in association with key partners such as the Arabia CSR Network, the EmiratesGBC, the Clean Energy Business Council and the Swiss Business Council, successfully hosted a critical Panel Discussion, the 3rd for the year, at Five Palm Jumeirah on Thursday, May 30, between 10:00 a.m. and 12:30 noon. The panel discussion […]

Business Corporate UAE

Dubai Tops FDI Global Charts For The Third Consecutive Year

Arnold Pinto 16/05/2024 0

Leaving Singapore And London Trailing Dubai, the Middle East’s default business and commercial capital, is the world’s leading foreign direct investment (FDI) hub for the third consecutive year, bypassing Singapore and London, respectively. As per the Financial Times’ fDi Markets platform, Dubai, the Arabian Gulf emirate, not only secured the top spot in global

NEWS DESK

DIFC’s 20th Anniversary Takes Flight with Strong Contribution

News Desk 1 15/02/2024

Dubai International Financial Centre (DIFC) continued to differentiate its position as the leading global financial centre for the Middle East, Africa and South Asia (MEASA) region during 2023. The Centre is now home to 5,523 active companies, a significant 26 per cent year-on-year boost from 4,377 in 2022. 1,451 new companies established in DIFC in […]

NEWS DESK

Google Cloud Expands Regional Presence with Opening of Dammam Cloud Region

News Desk 1 15/11/2023

Today, Google Cloud announced the opening of its new cloud region in Dammam, bringing high-performance, low-latency Google Cloud Platform services to customers of all sizes, from public sector organizations and large businesses, to small and medium-sized enterprises (SMEs) and startups in Saudi Arabia and the Middle East.  This significant investment in the Middle

NEWS DESK GCC UAE

Commercial Relocation Gains Traction in the UAE as Economy Soars

News Desk 1 10/11/2023

The UAE is witnessing a surge in commercial relocations, buoyed by a robust economy. As per the Central Bank’s latest report, the UAE anticipates substantial economic growth, with a projected 4.3% surge in 2024 and a stable 3.9% growth rate for the current year. This economic landscape is propelling the growth of commercial relocation across […]

NEWS DESK

UAE participates in first GCC-China economy and trade ministerial conference to advance joint efforts

News Desk 1 24/10/2023

H.E. Abdulla bin Touq Al Marri, Minister of Economy, participated in the first GCC-China economy and trade ministerial conference held in Guangzhou, China, in the presence of H.E. Jasem Mohamed AlBudaiwi, GCC Secretary General, ministers of economy and trade of GCC countries, and H.E. Wang Wen Tao, Chinese Minister of Trade. H.E. Bin Touq said […]

NEWS DESK

GHAYA’s inaugural ‘WORLD WITH PURPOSE’ summit

News Desk 1 12/10/2023

GHAYA, a UAE “purpose to impact” strategy consultancy, is proud to unveil the inaugural “WORLD WITH PURPOSE” summit titled “THE RISE OF A GLOBAL IMPACT ECONOMY”. Under the patronage of the UAE Ministry of Economy and in partnership with MAJRA, National CSR Fund, the summit is scheduled to take place on November 7th and 8th, […]

NEWS DESK

5 Ways the FMCG Industry Contributes to the Economy

News Desk 2 07/08/2023

By Naji Haddad, General Manager of MENA at Deliverect Fast-Moving Consumer Goods (FMCG), or Consumer Packaged Goods (CPG), are products sold quickly and at a relatively low cost. The FMCG industry is characterized by high-volume sales, quick inventory turnover, and various products catering to consumer needs. These goods include essential everyday items such as food […]

Business GCC UAE

Two major agreements announced at UAE-Turkey Business Forum promise to boost cooperation in critical sectors

News Desk 2 20/07/2023

Abu Dhabi, July 20, 2023: Two major agreements announced at the UAE-Turkey Business Forum held recently in Abu Dhabi were set to provide a boost to UAE-Turkey investment across multiple key sectors of the economy. The two announcements, designed to enhance cooperation between the business communities in the two countries, were announced during the Business […]

Business GCC UAE

UAE and South Korea agree to expand economic cooperation in 11 strategic sectors, boost economy

News Desk 2 07/07/2023

The eighth session of the UAE-South Korea Joint Economic Committee (JEC) – which was chaired by H.E. Abdullah bin Touq Al Marri, Minister of Economy, and H.E. Kyungho CHOO, South Korean Deputy Prime Minister and Minister of Economy and Finance – was held recently in Seoul, the capital of South Korea. The session was attended […]

Business

Global Financial Community Optimistic to Overcome Market Challenges and Build Stronger, Tech-Driven, Sustainable Future Economy

Middle East News 247 17/03/2023

RIYADH, Saudi Arabia — The second edition of the Financial Sector Conference (FSC 2023) has concluded in Riyadh, with a mood of optimism and energy to overcome market challenges to build a stronger, technology driven and sustainable economy of the future. Over 3200 participants from 82 countries, and 180 media, assembled in the Saudi capital […]

Business GCC Saudi Arabia

Saudi reaffirms commitment to bridging global divides, driving energy transition, inclusive economic growth at WEF23

Middle East News 247 26/01/2023

Riyadh, Saudi Arabia — Saudi Arabia reiterated its commitment to build bridges across geopolitical and economic divides at the World Economic Forum (WEF) 2023 Annual Meeting in Davos, Switzerland last week. His Highness Prince Faisal bin Farhan Al Saud, Minister of Foreign Affairs, led the Saudi delegation of nine ministers and high-level officials, and told […]