Cairo – Mubasher: Egypt's construction industry, the largest in Africa and third largest in the MENA region, is projected to grow at a compound annual growth rate (CAGR) of more than 8% until 2029, according to JLL’s construction market …
UAE – Mubasher: Around 22.40 million travellers passed through Abu Dhabi's airports in 2023, including 11.10 million arriving and 11.30 million departing. The Indian subcontinent topped origins with about 3.20 million travellers, followed by …
UAE - Mubasher: The UAE’s seasonally adjusted Purchasing Managers' Index (PMI) declined to 54.6 in June 2024 from 55.3 registered during May, according to the latest S&P Global PMI data. Non-oil private sector continued to retreat at the mid-point …
UAE – Mubasher: The UAE is set to become a global business hub after recording the second-highest number of new foreign investments globally in 2023, according to Fuse Financial Technologies, a cross-border payments business in the Middle East for …
UAE – Mubasher: The gross domestic product (GDP) at current prices of the emirate of Ajman rose 6.25% to AED 36 billion in 2023 from AED 33.90 billion a year earlier. Ajman’s GDP at constant prices grew by 4.70% to around AED 32 billion last year …
UAE – Mubasher: Dubai International Financial Centre (DIFC) has commenced construction on DIFC Square, a major development project featuring three interconnected buildings with offices and retail units. DIFC Square will provide 600,000 square feet …
UAE – Mubasher: Dubai announced a series of economic initiatives aiming to position Dubai as a top three global economic hub, including an AED 25 billion foreign direct investment (FDI) incentive programme over 10 years. The programme targets AED …
Cairo – Mubasher: The Sovereign Fund of Egypt (TSFE) and Orascom Construction have signed an agreement with Norway’s Scatec and UAE-based Chemical industry company Fertiglobe to launch a green hydrogen project in at the port of Sokhna with a …
Cairo – Mubasher: The Egyptian Red Sea Ports Authority (RSPA) and the New and Renewable Energy Authority (NREA) have signed an agreement with a consortium of France’s EDF Renewable and the Egyptian-Emirati company to produce green hydrogen and …
Riyadh – Mubasher: Saudi Arabia has participated in the GCC-US Trade and Investment Dialogue and the SelectUSA Investment Summit in Washington. The events focused on enhancing trade and investment cooperation between GCC countries and the US, …
Mubasher: The asset management industry in the GCC has significantly improved due to positive regulatory reforms and government support, according to a report by Marmore MENA Intelligence, a subsidiary of Kuwait Financial Centre (MARKAZ). Over the …
UAE – Mubasher: The Minister of Economy of the UAE Abdullah bin Touq Al Marri has recently led the delegation to the gathering chaired by Russia, which holds the 2024 BRICS chairmanship focusing on multilateralism and inclusive development. The …
Dubai – Mubasher: Moody’s Ratings has affirmed Dubai Insurance Company’s ‘A3’ insurance financial strength rating (IFSR). The rating agency changed the company’s outlook to positive from stable, according to a press release. DIN's outlook has …
UAE – Mubasher: The Central Bank of the UAE (CBUAE) expects the country's GDP to grow 3.90% in 2024 before accelerating to 6.20% in 2025. Non-oil GDP growth is projected to remain robust at 5.40% in 2024 and 5.30% in 2025, with hydrocarbon …
Dubai – Mubasher: The listed Commercial Bank of Dubai (CBD) has teamed up with Emirates Development Bank (EDB) through a strategic partnership to enhance and facilitate international trade services, according to a press release. The collaboration …
UAE – Mubasher: DMCC looks to build upon a $85 billion non-oil trade corridor between the UAE and India, as it continues to attract a new wave of Indian businesses to Dubai in line with its latest Made for Trade Live roadshow in New Delhi and …
Mubasher: The 2024 World Competitiveness Report included six countries from the Arab region which all showed progress in this year’s ranking, according to the International Institute for Management Development (IMD) data. The UAE led the Arab …
Mubasher: The total number of deals registered in the global travel and tourism sector decreased by 10.90% to 286 during the first five months (5M) of 2024 when compared with 321 in January-May 2023, according to GlobalData Deals Database. The …
UAE – Mubasher: The third edition of Abu Dhabi Finance Week (ADFW) will take place on 9-12 December 2024 under the theme Welcome to the Capital of Capital, being the flagship financial event of the Middle East, Africa, and Southern Asia (MEASA). …
Mubasher: Switzerland-based NUOS AG is expected to establish a headquarters (HQ) in Abu Dhabi as a regional hub, which will boost the emirate's strategic location and resources for more growth in Europe, North America, and the MENA market. NUOS …
UAE – Mubasher: The Central Bank of the UAE (CBUAE) has maintained the base rate for the overnight deposit facility (ODF) at 5.40%. The CBUAE has kept the interest rate for borrowing short-term liquidity at 0.50% above the base rate for all …
Mubasher: The US Federal Reserve (Fed) left interest rates unchanged, signalling it will not pull back until seeing sustained progress lowering inflation from multi-decade highs. The Federal Open Market Committee (FOMC) has maintained the target …
UAE – Mubasher: The UAE Cabinet approved 2,160 new housing decisions for citizens valued at AED 1.68 billion, according to the Emirates News Agency (WAM). These decisions aim to achieve social stability in line with the UAE's ongoing policies to …
UAE – Mubasher: The Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM) has signed a joint digital assets memorandum of understanding (MoU) with the Bermuda Monetary Authority (BMA). The MoU establishes a framework …
Mubasher: Saudi Arabia, the UAE, and Egypt accounted for 92% of total venture capital (VC) funding in the MENA region, according to a report by MAGNiTT. Saudi startups raised $400 million in VC funding in 2023, up 602% year-on-year (YoY), the …
