The winter months are expected to further boost tourist numbers Dubai: The UAE’s tourism revenues surpassed $5 billion in the first half of this year, with a strong performance expected this winter when neighbouring Qatar hosts the FIFA World Cup. “Our tourism sector’s revenues surpassed Dh19 billion in the first half of 2022. The total number of hotel guests reached 12 million, achieving 42 per cent growth, and we expect a strong tourism performance in this winter season,” His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and …

Tourism revenue in UAE tops $5 billion in the first half of 2022 Leggi tutto »

The rate of job creation in August was the quickest since 2022 Business activity in Dubai’s non-oil private sector economy climbed to a 38-month high as demand growth strengthened and input costs fell at record pace. The emirate’s headline seasonally adjusted S&P Global purchasing managers’ index rose to 57.9 in August, from 56.4 in July, its highest reading since June 2019. A reading above the neutral 50 level indicates economic expansion while one below points to a contraction. The reading indicated a marked improvement in non-oil operating conditions, and was above the long-run series average …

Dubai’s non-oil economy hits 38-month high as demand growth strengthens Leggi tutto »

Urban Tech District plans to create facilities for conferences and business incubation Dubai: A tech industry focussed ‘district’ is to be built in Dubai in Al Jaddaf. The Urban Tech District comes with the promise of creating 4,000 jobs in ‘green urban tech, education and training’. “Dubai is best positioned to lead the Urban Tech transformation than any other city in the world,” said Baharash Bagherian CEO of URB, the builder behind the project. “With a total of 140,000 square metres of built-up area, it will be the world’s largest urban tech district. Thus making …

Dubai’s ‘Urban Tech District’ unveiled, promises 4,000 jobs Leggi tutto »

Gli Emirati diventano porta di accesso per altri Paesi alternativi al mercato russo «Faccio questo lavoro da molti anni, eppure non mai ricevuto così tanti solleciti e richieste di informazioni da parte di imprenditori che vogliono esportare negli Emirati Arabi Uniti come negli ultimi mesi».Giovanni Bozzetti – presidente diEFG Consulting, società di consulenza per l’internazionalizzazione negli Emirati e referente unico della Camera di commercio e industria diDubai in Italia – non è sorpreso dagli ultimi dati sulle esportazioni di made in Italy verso questo mercato.Dopo un 2021 che già aveva segnato un forte recupero sul …

Export verso Dubai in crescita del 19,7%, balzo a 2,3 miliardi Leggi tutto »

WGES attracts annually local and international VIPs, including presidents and government leaders, in addition to a large number of speakers, officials, representatives of government organisations, media professionals, experts, and academics ECONOMY Dubai, UAE: The 8th World Green Economy Summit (WGES) discusses green urbanism, and the importance of designing cities to be smarter and more sustainable in dealing with climate change. It also addressed the importance of promoting the resilience and competitiveness of cities to enhance their capacity in dealing with climate risks and advance the quality, welfare, and happiness of individuals. WGES 2022 is held under …

WGES highlights the importance of a green urban environment to ensure happiness & welfare of citizens Leggi tutto »

Mobility and Terra pavilions and the Garden in the Sky to open this week before main October 1 relaunch Expo City Dubai will welcome the first visitors through its gates from Thursday, September 1, before a full relaunch in October. Visitors can gain access to two of the anchor pavilions, Mobility and Terra, as part of a phased launch of the legacy site, a successor to the six-month world’s fair bonanza that closed in late March. Organisers on Monday said the move was the “first chapter of Expo City Dubai’s journey”. Tickets for the two pavilions …

Expo City Dubai to welcome first visitors from September 1 Leggi tutto »

Despite prospering from inflated energy prices, the UAE economy is still driving its diversification ambition Last week’s news of the UAE’s non-oil trade value soaring past the AED1 trillion mark over the first half of 2022, indicates the market remains robust despite global headwinds. Despite prospering from inflated energy prices, the UAE economy is still driving its diversification ambition. While this headline is certainly positive and telling of the direction the UAE is going, understanding the how and why is also important. The UAE government has been active in establishing trade agreements—most recently with India, Indonesia and …

How the UAE’s non-oil trade broke the trillion-dirham mark for the first time Leggi tutto »

The UAE economy will grow faster than other countries in the North Africa and Middle East (MENA) region over the next year, according to research by a Dubai investment body. For the latest headlines, follow our Google News channel online or via the app. “We expect many of the world’s leading economies to fall into recession over the next 12 months … [but] the UAE economy will grow faster than the average growth for other countries of the MENA region,” Robert Miles, analyst at the Dubai Investment Fund (DIF) told Al Arabiya English. According to …

UAE economy to grow faster than other MENA countries in next 12 months: Research Leggi tutto »

The country saw a growth rate of 17 per cent during this time The UAE’s non-oil trade surpassed the Dh1 trillion mark in the first half of 2022, registering an increase of 17 per cent over the last half of 2021, thanks to a host of initiatives taken by the government to support non-oil sectors after the pandemic. Lauding the achievement, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, said this is the first time in the UAE’s history that the non-oil foreign …

UAE: Non-oil foreign trade exceeds record Dh1.05 trillion in 6 months Leggi tutto »

Recently, the circular economy has emerged as a concept that is rapidly gaining significance in several countries, including the UAE. A circular economy is distinct from a linear one. A linear economy is an economic system based on the “take-make-dispose” plan, which has no place in today’s progressive and sustainability-focused society. On the other hand, a circular economy is an economic system that aims to eliminate waste and the continuous use of resources, thereby reducing a country’s carbon footprint and increasing its economic benefits. For example, according to the World Economic Forum, a circular economy …

The circular economy can boost UAE’s GDP growth and bring environmental and social benefits to the country Leggi tutto »

As part of its efforts to support UAE’s non-oil trade and export, Etihad Credit Insurance issued secured guarantees covering AED6.7 billion in international trade, AED7.6 billion in domestic trade The UAE has achieved a 17 percent increase in its non-oil exports in the first quarter of this year, a senior minister said. The Ministry of Economy intends to further diversify the UAE’s export markets during the next phase of its growth strategy, Abdullah bin Touq Al Marri said. The minister was speaking at the second board meeting of Etihad Credit Insurance (ECI), the UAE Federal …

UAE clocks 17 percent rise in non-oil exports during Jan-March period Leggi tutto »

Forte aumento di esportazione nell’agroalimentare e gioielleria. Bozzetti (EFG): “L’interesse degli emiratini abbraccia ogni settore d’eccellenza italiano” Milano, 22 luglio 2022 – Nel primo trimestre del 2022, l’Italia ha esportato negli Emirati Arabi Uniti beni per 1287,22 milioni di euro, segnando un +14,3% rispetto allo stesso periodo dello scorso anno. Il trend di crescita continua in territorio positivo anche ad aprile, con un incremento su base annua del 15,5%: in particolare, i settori che vedono un forte aumento di esportazione verso gli EAU sono quelli relativi all’agroalimentare (che segna un +49%) e alla gioielleria (+13%). “I dati …

EXPORT ITALIA-EAU: NEL PRIMO TRIMESTRE 2022 +14,3% RISPETTO ALLO SCORSO ANNO Leggi tutto »

How Dubai aims to double the economy over the next few years, establish itself as a global business hub and rank number one in quality of life Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, recently launched “Dubai Global”, an initiative to establish 50 integrated commercial representative offices for Dubai in five continents across the world during the next few years, as part of Dubai’s goal to position itself as one of the best business hubs in the world. The UAE also rolled out incentives to attract 300 digital companies in …

Dubai reveals priorities as it positions itself as a global business hub Leggi tutto »

Head of state says his country will champion peace and stability while continuing on a path of growth President Sheikh Mohamed has set out his vision for his country, urging all people of the UAE to seize the opportunities before them to prosper. The head of state stressed that hard work, dedication and innovation would continue the strong growth the Emirates has seen in recent years. In a broadcast on Wednesday evening, he said that empowering the nation’s people was the top priority for its leaders. Sustainability, transparency, sovereignty and security are also crucial, he stressed. He said: …

UAE President Sheikh Mohamed sets out his vision in address to the nation Leggi tutto »

The survey found businesses “were increasingly confident of a rise in output over the coming year,” with confidence rising to the highest since last October Dubai’s non-oil economy has continued its upward trend in June, led by high travel demand, as well as the increase in new work in the construction sector. The seasonally adjusted S&P Global Dubai Purchasing Managers’ Index – which looks at output, new orders, employments, suppliers’ delivery time, and stocks of purchased goods – rose for the second month to 56.1 in June, from 55.7 in May – the highest reading …

Dubai’s non-oil economy jumps to three-year high in June led by growth in travel, construction sectors Leggi tutto »

The UAE, in recent years, have set ambitious strategies to modernise its economy – with a huge focus on becoming a global business hub attracting both firms and talent The recent move of the UAE government to ease bureaucratic red tape for digital businesses makes sense in a fierce global competition to attract them, the Middle East head of global law firm Reed Smith said. Last week, the government announced “NextGenFDI,” particularly to attract more digital businesses to set up in the country. “Digital technologies are unique and have unique needs.  Their B2B and B2C interactions are …

UAE’s ‘NextGenFDI’ makes sense amid ‘fierce global competition’ to attract top digital firms, expert says Leggi tutto »

This supports the Dubai Clean Energy Strategy 2050 to provide 100 percent of the emirate’s total power capacity from clean energy sources Dubai is to raise clean energy usage to 14 percent by the end of 2022, in line with its strategy to provide 100 percent of Dubai’s total power capacity from clean energy sources by 2050. Saeed Mohammed Al Tayer, MD and CEO of Dubai Electricity and Water Authority (DEWA) noted that the current clean energy share in Dubai’s energy mix has reached 11.5 percent. He said it is expected to reach 14 percent …

Dubai to raise clean energy usage to 14 percent by end of year Leggi tutto »

UAE Circular Economy Council’s policies will focus on four main sectors of manufacturing, food, infrastructure and transport The UAE has approved 22 policies to accelerate its shift to a circular economy. The UAE Circular Economy Council met to approve the policies, which focus on the four main sectors of manufacturing, food, infrastructure and transport. Mariam bint Mohammed Almheiri, Minister of Climate Change and Environment presided over the meeting which highlighted a number of innovation trends including waste-to-resource, reuse, internet of waste, artificial intelligence, remanufacturing and repair. The circular economy council also identified a number of …

UAE approves 22 policies to accelerate shift to circular economy Leggi tutto »

Gli Emirati Arabi Uniti si confermano tra i Paesi leader a livello globale in ambito di economia circolare Negli ultimi 15 anni da parte degli Uae sono stati promossi investimenti energetici puliti e rinnovabili per un importo pari a 50 miliardi di dollari. In questi giorni il Paese ha annunciato per la prossima decade un ulteriore investimento di 50 miliardi di dollari in progetti riguardanti idrogeno e ammoniaca. Non è un caso se la COP28 verrà ospitata a Dubai il prossimo novembre 2023. La Conferenza per il Cambiamento Climatico sarà, di fatto, un invito a …

Emirati Arabi: Bozzetti, Paese leader in economia circolare Leggi tutto »

Country rated highly in terms of government and business efficiency  The UAE is the most competitive country in the Arab world, according to the 2022 IMD World Competitiveness Ranking.  Published every year by the IMD Business School in Switzerland, the study that included 63 countries, placed the UAE in the 12th spot globally, ahead of Luxembourg, Canada, Germany, Iceland and China, among other major economies.  The UAE also emerged as the 8th most competitive economy in Europe, Middle East and Africa, just behind Denmark, Switzerland, Sweden, Netherlands, Finland, Norway and Ireland.  Overall, Denmark landed the …

New study reveals that UAE is most competitive economy in the Arab world Leggi tutto »

His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council, stressed the importance of continuing to work to consolidate Dubai’s position as an attractive destination for investments. His Highness indicated that the process of economic development continues to translate the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, may God protect him, to strengthen Dubai’s position as a global center that attracts investment and a major driver of the new global …

Hamdan bin Mohammed: Our next priorities are the sustainability of our family businesses, the development of our digital economy and access to new markets Leggi tutto »

Site of world’s fair to welcome new residents and major company headquarters from October 2022 The Expo 2020 site is to be transformed into Expo City Dubai and will soon welcome thousands of new residents and businesses, said Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, on Monday. In a series of tweets, Sheikh Mohammed set out his vision for the legacy site. Expo City Dubai will be a “hub of economic activity” and home to major companies and their headquarters. The city will open up in phases from October. It will be free …

Sheikh Mohammed bin Rashid unveils Expo City Dubai Leggi tutto »

The single-use-plastic-free Expo City Dubai will host new company HQs, a score of startups, and will continue hosting the ‘Alif’ Mobility and ‘Terra’ Sustainablility pavilions, as well as the much-loved waterfall feature. Here’s more! Sheikh Mohammed bin Rashid Al Maktoum, the Vice President, Prime Minister, and Ruler of Dubai, has unveiled the legacy plan of Expo 2020 Dubai: Expo City Dubai – which will be a smart and futuristic destination for business and innovation, driven by sustainability, innovation, education, and entertainment. Set to open in October 2022, Expo City Dubai – which is part of …

Future of Expo 2020: Which pavilions will remain? What firms, attractions will ‘Expo City Dubai’ host? Leggi tutto »

Mariam bint Mohammed Almheiri, the UAE Minister of Climate Change and Environment, shared her thoughts on Sheikh Mohamed bin Zayed’s recent announcement at the MEF global forum The UAE is doubling down on efforts to address climate change and accelerate the global energy transition. The UAE President Sheikh Mohamed bin Zayed pointed to the UAE’s investment of more than $50 billion in renewable energy projects across 40 countries, while announcing plans to invest an additional $50 billion over the next decade. The announcement, which was made at the Leaders Meeting of the Major Economies Forum …

UAE President’s $50bn commitment to scale up climate action over the next decade is ‘yet another milestone’ Leggi tutto »

Approximately 4,000 more millionaires are expected to move to the UAE this year than those who will leave — one of the country’s largest millionaire net inflows on record The UAE is expected to attract the largest net inflow of high-net-worth individuals (HNWIs) globally in 2022, according to forecast HNWI figures published in the latest Henley Global Citizens Report. Approximately 4,000 more millionaires are expected to move to the UAE this year than those who will leave — one of the country’s largest millionaire net inflows on record, according to the report, which tracks private wealth …

UAE ranked world’s top millionaire destination in 2022 as a ‘powerful magnet for talent and capital’ Leggi tutto »