Abu Dhabi’s non-oil economy grew 12.3% in Q2 2023

Abu Dhabi’s non-oil economy grew by a record 12.3 per cent in the second quarter of 2023, according to the Statistics Centre – Abu Dhabi (SCAD), as the city’s efforts to become a hub for hedge funds and other financial firms start to pay off. The preliminary datafrom SCAD shows that the emirate’s gross domestic product (GDP) reached […]

UAE chases 7% growth to double economy to over $800bn

The United Arab Emirates is looking to accelerate economic growth as it seeks to double its gross domestic product to over $800b by the end of the decade. “The focus is to grow by 7 per cent,” Abdulla bin Touq Al Marri, the country’s economy minister, said in an interview with Bloomberg Television. “We need […]

Central Bank of UAE issues its 2022 Annual Report on monetary, financial stability

    The Central Bank of the UAE (CBUAE) issued its 2022 Annual Report, highlighting its progress and initiatives to bolster monetary and financial stability in the UAE throughout the year. The report highlighted the CBUAE’s monitoring and supervision efforts to enhance monetary stability and the financial sector’s resilience and support economic activity in the […]