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 President’s $50mln additional aid to Syria boosts humanitarian efforts: ERC Chairman
Dr. Hamdan Al Mazrouei, Chairman of the Board of Directors of Emirates Red Crescent (ERC), said President His Highness Sheikh Mohamed bin Zayed Al Nahyan’s order to give an additional US$50 million aid to the earthquake victims in Syria reflects the President’s desire to strengthen the humanitarian efforts there. This will help alleviate the sufferings […]
ADFD, UNIDO discuss joint efforts to drive sustainable development
Mohamed Saif Al Suwaidi, Director-General of Abu Dhabi Fund for Development and Chairman of the Exports Executive Committee of the Abu Dhabi Exports Office (ADEX), has met Gerd Müller, Director-General of the United Nations Industrial Development Organisation (UNIDO), to discuss their joint efforts in driving industrial and economic growth in developing nations. During Müller’s […]
Mubadala and US-based Resilience link up on biopharma manufacturing in UAE
Mubadala Investment Company, Abu Dhabi’s sovereign investment arm, and US-based National Resilience, a technology-focused manufacturer, have signed a biopharma investment deal that will boost the UAE’s life sciences sector. Through a development agreement, Mubadala will establish a new manufacturing plant in the UAE, which will be operated by Resilience to make biopharmaceutical-related products, Mubadala said in a statement […]
Abu Dhabi’s ADNOC invites banks to pitch for gas business IPO -sources
Abu Dhabi National Oil Company (ADNOC) has invited investment banks to pitch for roles in the initial public offering (IPO) of its gas business next year, two sources familiar with the matter told Reuters. Bankers familiar with the matter said a request was sent to a select number of banks last week for […]
KSA and UAE is a partnership of possibilities
On UAE National Day, I would like to congratulate the leadership and the people of the UAE. Both Saudi Arabia and the UAE have a special relationship that extends across economic, social, and cultural areas. This connection is deep, mutually beneficial, and it is ever-growing. At the heart of our relationship is the conviction that […]
UAE, Cameroon explore opportunities in renewable energy, infrastructure and logistics
YAOUNDÉ, Cameroon – Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, has led an Emirati delegation of business, investment, and development leaders to Cameroon to explore opportunities and strengthen UAE-Cameroon ties. The delegation included Mohammed Ali Al Shorafa, Chairman of the Abu Dhabi Department of Economic Development, and a number of […]
Abu Dhabi’s GDP expands 11.2% in first half of 2022: SCAD
ABU DHABI – Statistics Centre – Abu Dhabi (SCAD) has announced statistical data that show expansion of Abu Dhabi’s Gross Domestic Product (GDP) in the first half of 2022, reaching 11.2 percent compared to the same period last year. The growth reflects the Emirate’s robust performance and the ability of the economy to maintain competitiveness […]
Brazil’s 10M exports to Arab world climb 25.71% to $14.47bln
Brazil’s exports to Arab countries jumped 25.71% to $14.47 billion during the first ten months (10M) of 2022, the Arab Brazilian Chamber of Commerce (ABCC) reported. The exports grew from $11.51 billion in 2021 to $14.47 billion from January to October this year. Brazilian exports to the UAE shot up 46.53% from $1.76 billion in […]
Al Quoz Creative Zone’s master plan approved, to be rolled out over 4 years
The Higher Committee of the Al Quoz Creative Zone today approved the master plan for the Al Quoz Creative Zone during a meeting chaired by H.H. Sheikha Latifa bint Mohammed bin Rashid Al Maktoum, Chairperson of Dubai Culture and Arts Authority (Dubai Culture) and Member of the Dubai Council. The master plan provides a […]