The GEM research reveals that supporting new businesses during hard times – such as during the Covid-19 pandemic – and supporting women entrepreneurs, should be key components in a strategy to promote entrepreneurship The UAE has outperformed the Netherlands and Finland to top the list of best countries for entrepreneurs, according to the Global Entrepreneurship Monitor’s (GEM) 2022 report, which assesses the conditions for entrepreneurs in 50 countries worldwide. Every year, the Global Entrepreneurship Monitor (GEM) presents its comparative assessment of national entrepreneurial conditions. The aim of this is to rank countries in terms of their ability …

Best place to start a business: UAE tops global ranking ahead of Netherlands, Finland, and Saudi Arabia Leggi tutto »

The UAE’s real GDP growth rate beats analyst expectations to climb 3.8 percent in 2021, marking the highest growth in the region and surpassing the pre-pandemic growth margins of 2019 The UAE’s gross domestic product (GDP) has exceeded the estimates of analysts and specialised international institutions, rising to $402.9 billion (AED 1.489 trillion) in 2021. The UAE’s Federal Competitiveness and Statistics Centre revealed that the UAE’s real GDP soared 3.8 percent in 2021, claiming the highest GDP growth rate in the region while beating expectations of international institutions, which expected the country’s GDP to rise by a modest 2.1 …

Dubai Ruler says “best is yet to come” as UAE’s GDP soars to $402.9 billion in 2021 Leggi tutto »

Saudi Arabia’s economic rebound is drawing attention with an obvious boon from rising oil prices. Outside of hydrocarbons, the country is continuing to diversify and reform in a number of sectors as part of its ambitious Vision 2030 Saudi Arabia is experiencing positive momentum even amid a challenging investment climate and geopolitical tensions that are dampening growth elsewhere, according to Dina Ting, the head of Global Index Portfolio Management at Franklin Templeton ETFs. Reflecting expectations of improving GDP growth and medium-term fiscal dynamics, S&P Global Ratings revised its outlook on Saudi Arabia’s debt from stable to …

Shining the spotlight on Saudi Arabia: Improved oil prospects, diversification, and investment opportunities Leggi tutto »

The UAE has recovered to 110% of its 2019 levels… The UAE has been recognised as travel’s most recovered country post Covid-19, according to a new report by Travelport. A global technology company that powers travel bookings for thousands of airlines and hotels worldwide, Travelport’s just-released trend data shows that the UAE has recovered to 110% of its 2019 levels.-ADVERTISEMENT- Within that recovery, Dubai dominates, currently operating at 114% of 2019 levels. This makes Dubai not only the second most recovered city in the Middle East, but also the fifth most recovered city in the world. …

UAE is the travel industry’s most recovered country in the world Leggi tutto »

Employment levels in non-oil businesses picked up, marking the tenth rise in as many months The UAE’s non-oil sector signalled strong expansion in March, but one that was marred by intensifying inflationary pressures linked to rising commodity prices. The headline seasonally adjusted IHS Markit UAE Purchasing Managers’ Index (PMI) – a composite indicator designed to give an accurate overview of operating conditions in the non-oil private sector economy – posted 54.8 for the second month running in March. The reading was well above the 50.0 neutral mark to indicate a further sharp improvement in operating …

UAE non-oil sector signals strong expansion in March Leggi tutto »

Country’s space agency plans to excel further through public-private partnerships – similar to how Nasa evolved The global rise of the private space sector has helped show how governments cannot go it all alone when reaching for the stars and it is no different for the UAE. Over the next decade, the Emirates plans to invest more than Dh3 billion ($816 million) in the private space sector to grow the country’s capabilities in space. Economic zones dedicated to space activities will be set up across Abu Dhabi, Dubai and Sharjah to allow start-ups and established businesses to set up operations. Officials hope …

How the UAE plans to become a leading space power in the region Leggi tutto »

The Emirates Food Security Council measures are aimed at building a more sustainable future A UAE food security task force has launched an action plan to cut down on waste, prioritise local produce in the marketplace and embrace technology to tackle pressing challenges facing the country and the world. The Emirates Food Security Council, of which Mariam Al Mheiri,Minister of Climate Change and Environment, is chairwoman, set out a list of recommendations at its first meeting of the year. The council called for agriculture and food data to be used at local and federal levels …

UAE sets out six-month food security action plan to cut waste and prioritise local produce Leggi tutto »

For those who missed the closing ceremony, here’s a recap of the event, which was capped off with a heart-warming speech by Sheikh Mohammed bin Rashid Al Maktoum and a stunning performance by Christina Aguilera Marking the close of the six-month Expo 2020 Dubai, Sheikh Mohammed bin Rashid Al Maktoum, the Vice President and Prime Minister of the UAE and Ruler of Dubai, said that the end of the World Expo offers the opportunity of “a new beginning” for the UAE and the world. In an audio message delivered at the closing ceremony of the mega …

Dubai Ruler Sheikh Mohammed Bin Rashid marks “new beginning for the UAE” as Expo 2020 draws to a close Leggi tutto »

Dismantling of all non-legacy structures at Expo site will be done in 3-6 months Dubai: Dubai is getting ready to welcome District 2020, a ‘smart city’ that will take shape in and around the Expo venue – and in no time emerge as the next big thing when it comes to choosing an office, a home, or a retail space. For now, however, the attention will be on repurposing the entire Expo site, starting with the dismantling of all non-legacy structures. That transition will be happening immediately, which is where companies like LC&Partners come in. …

Dubai starts on the complex process to create District 2020 out of the Expo site Leggi tutto »

The metaverse has become closer to reality than we could have imagined; residents could be joined by friends from other parts of the world in the form of avatars taking a virtual walk through a park in the city, the director-general of Dubai Municipality said Dubai Municipality has revealed plans to work with private sector companies and investors to create a futuristic, human-centred version of the city in the metaverse called One Human Reality. Speaking at a plenary session titled ‘Operating Cities of Tomorrow’ at the World Government Summit 2022 (WGS2022) in Expo 2020 Dubai the director-general of Dubai …

Dubai in the metaverse: Dubai Municipality to create a futuristic, virtual version of the city Leggi tutto »

New figures from the Dubai Land Department detail hundreds of deals as the property market continues to surge. Hundreds of property deals completed in a single day pushed the amount of real estate transactions to nearly touch AED2 billion in Dubai on Tuesday. According to the figures, Dubai’s real estate market recorded 474 sales transactions worth AED1.52 billion and mortgage deals of AED441.56 million, in addition to 11 gift transactions amounting to AED27.4 million on Tuesday, data released by the emirate’s Land Department (DLD) showed. The sales included 376 villas and apartments worth AED849.54 million, and …

Super Tuesday for real estate in Dubai sees AED1.9bn worth of property deals in a single day Leggi tutto »

Sarah bint Yousef Al Amiri, also chair of the UAE Space Agency, says future-focus will continue to be core goals over next 50 years Sarah bint Yousef Al Amiri, Minister of State for Advanced Technology and chair of the UAE Space Agency, has credited the UAE’s success in adopting innovation and advanced technologies with maximising the country’s soft power. She said the UAE’s positive influence and increasing soft power was the result of “conscious planning, effort and determination”. Her comments follow the UAE being ranked first regionally and 10th globally for its influence in the …

Innovation is at the heart of the UAE’s growing global influence, says minister Leggi tutto »

About 70 per cent of Expo visitors have been from the UAE Expo 2020 Dubai has reached a milestone of 20 million visits as it nears the finish line. The achievement will be celebrated on Saturday at 8.30pm with a special projection on Al Wasl dome and a fireworks show. Visitors have been rushing to the site in Dubai South with 12 days left until the doors close for the last time. About 70 per cent of the total Expo visitor numbers have been from the UAE. The latest figures also show children under the age of 18 have visited more …

Expo 2020 Dubai visit numbers reach 20 million mark Leggi tutto »

Despite a modest setback at the turn of the year, the UAE GDP is forecast to grow by 6.2 percent in 2022, and 6.7 percent in 2023, backed by expansionary government policy and the surging oil sector The UAE’s economic recovery is on a firm footing, amid lingering Omicron concerns and uncertainty over the sharp escalation of the Russia-Ukraine conflict, according to the latest Economic Insight report for the Middle East, commissioned by ICAEW and compiled by Oxford Economics. Despite a modest setback at the turn of the year, growth momentum is expected to pick-up in …

UAE economic recovery on “firm footing” despite Omicron concerns, fallout of Russia-Ukraine conflict Leggi tutto »

Everdome unveils Hatta as its mission launch site as it plans to take users on a virtual journey from Earth to Mars Everdome, which aims to create the most hyper-realistic metaverse environments, has announced Hatta as its mission launch site as it plans to take users on a journey from Earth to Mars. The company said in a statement that it will use the mountainous region of Hatta in Dubai as it brings brands and people together to create the most realistic web3 experience. Set to launch in three phases throughout 2022, phase 1 of …

Why Dubai’s Hatta will play a key part in a metaverse journey to Mars Leggi tutto »

5G is transforming Saudi Arabia’s healthcare sector, said the director of sector development at kingdom’s ministry of Communications and Information Technology Almost two years since the onset of the coronavirus pandemic, the healthcare industry has taken significant steps into the digital realm, with telemedicine and wearables now more commonplace than ever. In Saudi Arabia, IoT and 5G are transforming the healthcare sector, enabling monitoring of patients in remote areas and enabling critical early interventions, explained AlFhadah AlBaiz, director of sector development at the kingdom’s Ministry of Communications and Information Technology. Speaking to Arabian Business ahead of the Smart Healthcare …

How IoT, 5G, and digitalisation are transforming the healthcare Leggi tutto »

The firm shared that its operational performance remains strong despite disruptions. Terminals have remained open to service cargo owners despite challenges faced due to the pandemic Dubai-based multinational logistics firm DP World has revealed record results in FY 2021 with its earnings before interest, taxes, depreciation, and amortisation (EBITDA) increasing 15.3 percent year-on-year to $3.8 billion, and revenue climbing 26.3 percent year-on-year to $10.77 billion. The revenue increased by a margin of $2.2 billion on a reported basis supported by acquisitions and new concessions, including Angola, Unico, and Transworld. In 2021, DP World signed a 20-year concession agreement …

DP World revenues grow to $10.77 billion in FY 2021 supported by acquisitions and new concessions Leggi tutto »

The actions will be accompanied by strategies to unlock capital flows in support of clean energy transition to ensure affordability and reliability Over the next decade, the UAE will focus on driving clean electrification through solar and nuclear, along with the implementation of transparent policies, improving energy efficiency, reducing carbon and methane emissions, and turbocharging innovation to commercialise hydrogen technology. These actions will be accompanied by strategies to unlock capital flows in support of clean energy transition to ensure affordability and reliability, the assistant undersecretary for the Electricity, Water, and Future Energy Sector at the UAE Ministry …

The UAE will focus on driving clean electrification through solar and nuclear over the next decade Leggi tutto »

The total value of the UAE’s non-oil foreign trade climbed 27% year-on-year to $517.27bn (AED1.9tn) in 2021, showcasing consistent growth across all areas of trade, including exports, imports, and re-exports The total value of the UAE’s non-oil foreign trade climbed 27% year-on-year to $517.27bn (AED1.9tn) in 2021 – marking a 11% increase compared to 2019 – showcasing consistent growth across all areas of trade, including exports, imports, and re-exports. The individual non-oil foreign trade figures of all the emirates within the nation also witnessed growth in varying levels, evidencing the comprehensive growth achieved by the …

UAE non-oil exports sets new record, hits $96bn for first time in its history Leggi tutto »

Developed by Dubai Future Foundation and Killa Design, it was designed to gather, thinkers and innovators, with the ambition to define the future. The Museum of the Future is brainchild of the Dubai Future Foundation and Killa Design, and will house a permanent exhibition about technology and creative thinking. It was designed “to celebrate humankind achievements and innovation that guides us into the future”.  The architect Shaun Killa, foundator of Killa Design, composed its form using computer-aided design and employed sustainable architecture strategies, such as solar power. The result is a massive 77 meters high, 7-storey toroidal …

The Museum of the Future has opened in Dubai Leggi tutto »

Domestic property sales for 2021 saw a sharp growth of 335 percent over 2020, reaching $7.492bn with founder Alabbar saying Emaar ‘set to continue to benefit from the fundamental shifts occurring within the real estate market In what is the highest-ever property sales recorded by the company since its incorporation in 1997, Emaar Properties announced a significant increase in property sales of 209 percent, reaching AED33.762bn ($9.192bn), compared to 2020 sales of AED10.902bn ($2.968bn). Domestic property sales for 2021 saw a sharp growth of 335 percent over 2020, reaching to AED27.517bn ($7.492bn). The property developer has handed …

Emaar Properties achieves highest-ever property sales of $9.192bn in 2021 Leggi tutto »

UAE exports are projected to cross $299bn by 2030, according to Standard Chartered The UAE will be a key driver of global trade growth over the next decade, with its exports projected to grow at an average annual rate of more 6 percent to cross AED1.1 trillion ($299 billion) by 2030. That’s according to a report by Standard Chartered which projects that global exports will almost double from $17.4 trillion to 29.7 trillion over the next decade. The report reveals 13 markets that will drive much of this growth, identifies major corridors, including the UAE. …

How the UAE can become a key driver for global trade by 2030 Leggi tutto »

The UAE climbed three spots from its 4th global ranking in last year’s report to accomplish this feat, outperforming other leading global economies studied by the report The Global Entrepreneurship Monitor (GEM) has ranked the UAE first globally in its Global Entrepreneurship Index 2022, which was unveiled this week. The UAE climbed three spots from its 4th global ranking in last year’s report to accomplish this feat, outperforming other leading global economies studied by the report. The UAE achieved the highest score in the general ranking of the index with a score of 6.8. The …

UAE ranks 1st in Global Entrepreneurship Index 2022 Leggi tutto »

Milano, 8 febbraio 2022 – Nel quadro della missione a Milano del Ministro dell’Economia degli Emirati Arabi Uniti Abdulla bin Touq Al Marri si è tenuto questa mattina un importante meeting con un ristretto gruppo di selezionati esponenti del mondo industriale, economico, finanziario e accademico italiano. L’incontro, promosso dal presidente di EFG Professor Giovanni Bozzetti autore del libro: “Emirati: nulla è impossibile” (edizioni Mondadori), ha radunato Matteo Lunelli presidente di Altagamma e presidente e amministratore delegato di Cantine Ferrari, Carlo Capasa presidente della Camera nazionale della Moda Italiana, Alfonso Dolce amministratore delegato Dolce & Gabbana, …

IL MINISTRO DELL’ECONOMIA DEGLI EMIRATI ABDULLA BIN TOUQ AL MARRI HA INCONTRATO ESPONENTI TOP DEL MONDO INDUSTRIALE, FINANZIARIO E ACCADEMICO ITALIANO Leggi tutto »

Milano, 7 febbraio -“L’incontro odierno tra il Ministro dell’Economia degli Emirati Arabi Uniti Abdulla bin Touq Al Marri e il Presidente di Regione Lombardia Attilio Fontana conferma il livello ottimale di amicizia tra le due Istituzioni. Questo positivo clima offre le migliori condizioni per la crescita degli scambi commerciali tra i due Paesi. La Lombardia per gli Emirati Arabi Uniti può essere sempre più la porta d’ingresso verso il mercato europeo. Al contempo gli EAU  sono sempre più il “gate” per le imprese italiane per sviluppare business nel Medio Oriente, Africa e Sudest asiatico. Expo …

INCONTRO FONTANA (Regione Lombardia) e ABDULLA BIN TOUQ AL MARRI (Emirati Arabi Uniti): LOMBARDIA E EAU SONO I RISPETTIVI “GATE TO GATE” PER LOMBARDIA E MEDIORIENTE/SUDEST ASIATICO Leggi tutto »