DUBAI: Emirates Group and Dubai Airports have released a new economic impact study, conducted by Oxford Economics, highlighting aviation’s crucial role in Dubai’s economy. The study quantifies the sector’s contributions and projects future growth based on financial and passenger data. The study assessed three types of economic activity: direct, indirect through the supply chain, and […]
DUBAI: GITEX Global 2024, the world’s largest tech event, returns to the UAE with its 44th edition, set to redefine the global digital economy and AI ecosystem. Running from October 14 to 18 at Dubai World Trade Centre (DWTC), the event brings together over 6,500 exhibitors, 1,800 startups, and 1,200 investors from more than 180 […]
Abu Dhabi: The Statistics Centre – Abu Dhabi (SCAD) has released preliminary estimates revealing a 4.1 per cent growth in the emirate’s gross domestic product (GDP) during the second quarter of 2024, compared to the same period last year. The growth is largely fueled by the continued expansion of non-oil sectors, underscoring the success of […]
COLOMBO: Economy of Sri Lanka grew faster than expected in the second quarter, bolstering sentiment ahead of a crucial election that could affect policy as the country recovers from its worst crisis in decades, agencies reported. Gross domestic product rose 4.7 percent in the three months to June from a year ago, the Statistics Department […]
RIYADH: Khalid Al Falih, Saudi Minister of Investment, said that the pro-investment measures introduced by Saudi Arabia in recent years include the introduction of the Civil Transactions Law, Private Sector Participation Law, Companies Law, Bankruptcy Law and Special Economic Zones. These reforms have helped drive rapid investment growth, with gross fixed capital formation increasing by […]
VIENNA: The Organisation of the Petroleum Exporting Countries (OPEC) has reported that the UAE’s economy continues to grow strongly, especially in non-oil sectors like real estate, tourism, and manufacturing. In the August 2024 Monthly Oil Market Report (MOMR), OPEC highlighted a slight rise in the costs of housing, water, electricity, gas, and other fuels. These […]
DUBAI: Digital Dubai is taking practical steps to implement the Strategic Vision for the Data Centre Economy in Dubai, in collaboration with government and private sector partners. This vision, approved by The Executive Council, aims to make Dubai a leader in future economies supported by emerging technologies. It aligns with the Dubai Economic Agenda D33, […]
BEIJING: Dr. Sultan bin Ahmed Al Jaber, the UAE’s Minister of Industry and Advanced Technology and CEO of ADNOC, recently visited China to discuss boosting cooperation and growing ties between the two nations, UAE and China. This visit follows a successful state visit by UAE President Sheikh Mohamed bin Zayed Al Nahyan to China in […]
On Tuesday, the Prime Minister of Malaysia, Anwar Ibrahim, called for Islamic economic entities to embrace the Islamic economy and finance system as an alternative to capitalism. During his speech at the Global Islamic Economy and Finance Forum 2024, he emphasized the need for a renewed direction and reform towards a future outlined by inclusivity, […]
Washington: The International Monetary Fund (IMF) forecasts a 4 percent growth in the UAE’s real gross domestic product (GDP) for 2024. In a statement released today, following the completion of consultations under Article IV by a team of its experts visiting the UAE, the IMF remarked that the country’s economic growth is widespread, propelled by […]
Zurich: During a conference in Zurich, Christine Lagarde, Managing Director of the International Monetary Fund (IMF), forecasted that artificial intelligence (AI) would influence 60% of jobs in advanced economies and 40% globally within two years. Lagarde noted that while effectively managed, AI could substantially boost productivity, its unchecked proliferation could exacerbate misinformation and social inequality. […]
