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23 October 11:52 PM

Local Economy

The initiative aims to boost partnerships between public and private sectors
20 October 04:28 PM UAE launches Pioneers of Digital Economy initiative
UAE - Mubasher: The UAE government has introduced the "Pioneers of the Digital Economy" initiative to develop the capabilities of young talents and empower them with the knowledge and expertise necessary for the development of advanced future …
Macroeconomics
UAE will develop scientific instruments for Israel’s Beresheet-2 mission
20 October 03:40 PM UAE, Israel Space Agencies ink agreement to enhance space cooperation
UAE - Mubasher: The UAE Space Agency has entered into a Memorandum of Understanding (MoU) with the Israel Space Agency to cooperate in scientific research, space exploration, and data analysis and exchange expertise. Under the agreement, the UAE …
Macroeconomics
The ministry conducted 304,976 COVID-19 tests
20 October 02:25 PM UAE reports 112 new COVID-19 cases
UAE - Mubasher: The UAE Ministry of Health announced on Wednesday 112 new coronavirus (COVID-19) cases to bring the total number of cases to 738,924. The ministry conducted 304,976 COVID-19 tests to detect further cases. The total number of …
The initiative will offer new financing solutions
20 October 01:44 PM ADDED introduces Smart Manufacturing Project
UAE - Mubasher: The Abu Dhabi Department of Economic Development (ADDED) has launched the Smart Manufacturing Project to support manufacturing facilities to adopt industry 4.0 applications. Through the project, the department seeks to improve the …
Macroeconomics
The bonds are 5.6% oversubscribed
20 October 10:46 AM UAE Government celebrates listing first sovereign bonds on Nasdaq Dubai
UAE - Mubasher: Mohammed bin Hadi Al Hussaini, the UAE Minister of State for Financial Affairs, has celebrated the listing of the UAE sovereign bonds on Nasdaq Dubai. The US dollar-denominated three-tranche bonds, the first to be issued by the UAE …
Macroeconomics
The UAE's holdings of US treasury bonds rose by 1.6% MoM
19 October 01:28 PM UAE's holdings of US treasury bonds up 60% in August
UAE - Mubasher: The UAE has raised its holdings of US treasury bonds by 60% year-on-year (YoY) to around $58.7 billion in August 2021, compared to $36.6 billion. On a monthly basis, the UAE's holdings of US treasury bonds rose by 1.6% when …
Bonds
The two parties will set up a plan to deploy intelligent applications
19 October 12:03 PM Abu Dhabi Department of Energy, Huawei ink MoU to develop energy sector
UAE - Mubasher: The Abu Dhabi Department of Energy (DoE) has inked a Memorandum of Understanding (MoU) with Huawei to collaborate in research, development, and capability-building and exchange knowledge to develop the emirate's energy sector. …
Macroeconomics
The initiative has partnered with the incubators and accelerators
18 October 03:58 PM MBRSC launches Space Ventures to boost UAE's space sector
UAE - Mubasher: The Mohammed Bin Rashid Space Centre (MBRSC) has launched Space Ventures, a launchpad for startups in the space sector from the region and around the world, to boost the space technology ecosystem. Space Ventures will …
Companies Investments
DWTC Free Zone has inked a MoU with CNMENA Holding
18 October 02:22 PM DWTC partners with CoinMENA to build crypto asset, blockchain hub
UAE - Mubasher: Dubai World Trade Centre (DWTC) Free Zone has inked a Memorandum of Understanding (MoU) with CNMENA Holding BVI, the parent company of CoinMENA, to build a crypto asset and blockchain hub at DWTC. The agreement was signed during …
Companies Investments
ADIPEC will comprise seven hydrogen sessions
18 October 01:26 PM ADNOC to host ADIPEC to focus on hydrogen importance in diversified energy sector
UAE - Mubasher: The Abu Dhabi National Oil Company (ADNOC) will host ADIPEC in Abu Dhabi on 15-18 November 2021 to highlight the importance of hydrogen in a diversified energy sector. To be held in-person, ADIPEC is supported by the UAE Ministry …
Event
The CBUAE recorded foreign deposits of AED 248.5 billion in August
18 October 12:01 PM CBUAE's foreign assets hit AED 412.06bn in August 2021
UAE – Mubasher: The foreign assets of the Central Bank of the UAE (CBUAE) rose by 16% to AED 412.06 billion in August 2021, compared to AED 355.2 billion in the same month of 2020. The CBUAE recorded foreign deposits of AED 248.5 billion in August …
Central Banks
Dubai's CPI inched down 0.04%
18 October 10:01 AM Dubai's CPI down 1.5% in September
UAE - Mubasher: The Consumer Price Index (CPI) of Dubai declined 1.49% to 101.77 points in September 2021 when compared to the same month of 2020, according to the latest data by the Dubai Statistics Centre (DSC). The prices of the housing, water, …
Macroeconomics
The UAE has won 30% of all tourism FDI projects
17 October 12:55 PM UAE tops region in tourism FDI projects in 2016-2020
UAE - Mubasher: The UAE has led the Middle East and Africa in terms of the number of tourism foreign direct investment (FDI) projects between 2016 and 2020, as shown by 'Tourism Investment Report 2021' released by fDi Intelligence. The UAE has …
Sector Reports
The EBITDA reached AED 770 million
17 October 10:33 AM Abu Dhabi Ports records 21% higher revenues in H1-21
Abu Dhabi - Mubasher: The revenues of Abu Dhabi Ports Group rose by 21% to AED 1.832 billion ($499 million) during the first half (H1) of 2021, compared to AED 1.517 billion ($413 million) in the year-ago period. Higher revenues are attributed …
Macroeconomics
The CEPA aims to foster economic ties and enhance investment opportunities
14 October 04:23 PM UAE, South Korea to pursue Comprehensive Economic Partnership Agreement
UAE - Mubasher: The UAE and South Korea have discussed the prospect of pursuing a Comprehensive Economic Partnership Agreement (CEPA) to expand trade and investment relations between the two countries. This announcement was made during a meeting …
Macroeconomics
The agreement aims to develop business relations between the parties
14 October 01:50 PM Dubai Chamber inks MoU with Angola-UAE Chamber of Commerce, Industry
UAE - Mubasher: Dubai Chamber of Commerce and Industry has inked a Memorandum of Understanding (MoU) with the Angola-UAE Chamber of Commerce and Industry to exchange knowledge and facilitate cooperation between the two chambers. The agreement was …
Macroeconomics
Ayman Soliman, CEO of The Sovereign Fund of Egypt
14 October 11:33 AM Egypt's sovereign fund inks green hydrogen deal with Scatec, Fertiglobe
Cairo – Mubasher: The Sovereign Fund of Egypt (TSFE) signed an agreement with Norway's Scatec and Fertiglobe plc, an ammonia producer jointly owned by the Netherlands-based OCI and Abu Dhabi National Oil Company (ADNOC), to develop a 50-100 …
Companies Investments
The authority's operating performance will recover in 2021
14 October 10:49 AM Moody's affirms DEWA's 'Baa2' ratings, revised outlook to stable
UAE - Mubasher: Moody's Investors Service (Moody's) has affirmed the ratings of Dubai Electricity and Water Authority (DEWA) at 'Baa2' and revised outlook to stable from negative. The ratings are attributed to the credit links between DEWA and the …
Macroeconomics
The UAE's non-oil foreign trade included AED 170 billion non-oil exports
14 October 09:52 AM UAE's non-oil foreign trade hits AED 900bn in H1-21
UAE - Mubasher: The UAE's non-oil foreign trade jumped by 27% year-on-year (YoY) to around AED 900 billion in the first half (H1) of 2021, the Emirates News Agency (WAM) reported. This performance also reflects a 6% growth in the country’s non-oil …
Macroeconomics
Buamim’s statement was made during the sixth Global Business Forum Africa
13 October 04:27 PM Dubai Chamber reports 24,800 registered African companies
UAE - Mubasher: The Dubai Chamber has recorded 24,800 registered African companies, up 15.5% since 2019, the President and CEO of Dubai Chamber, Hamad Buamim, announced. Buamim’s statement was made during the sixth Global Business Forum Africa in …
Macroeconomics
The CBUAE will cooperate with DIFC to develop a co-sandbox
13 October 02:16 PM CBUAE, DIFC ink MoU to boost UAE’s FinTech ecosystem
UAE - Mubasher: The Central Bank of the UAE (CBUAE) has inked a Memorandum of Understanding (MoU) with Dubai International Financial Centre (DIFC) to boost the UAE’s FinTech ecosystem through a number of initiatives and activities. The CBUAE will …
Companies Investments
The fund will invest in five to ten private companies per year
13 October 10:37 AM Abu Dhabi launches AED 5bn IPO Fund to support private companies' growth
UAE - Mubasher: The Supreme Council for Financial and Economic Affairs has launched the Abu Dhabi IPO Fund worth AED 5 billion to foster Abu Dhabi Securities Exchange (ADX)’s position as a leading stock market, the Abu Dhabi media office reported. …
Macroeconomics
The cabinet has also launched the new government strategic approach
13 October 10:11 AM UAE approves AED 290bn general budget for 2022- 2026
UAE - Mubasher: The UAE Cabinet has approved the country's general budget for 2022- 2026 with total expenditures of AED 290 billion. The cabinet, chaired by Sheikh Mohammed bin Rashid Al Maktoum, the UAE Vice President, Prime Minister, and Ruler …
Macroeconomics
The UAE banks' deposits went up by 0.7% MoM
12 October 02:38 PM UAE banks' assets hit AED 3.228trn by end of August 2021
UAE - Mubasher: The UAE banks' assets have hit AED 3.228 trillion at the end of August 2021, down 0.2% from AED 3.233 trillion at the end of July 2021. The UAE banks' deposits went up by 0.7% month-on-month (MoM) to AED 1.928 trillion at the end …
Banking and Finance
The authority has also approved an agreement with the French Institute for IRSN
12 October 10:12 AM FANR authorises Nawah to possess, transfer nuclear material for Barakah Plant's Unit 3
UAE - Mubasher: The board management of the UAE’s Federal Authority for Nuclear Regulation (FANR) has granted Nawah Energy Company a licence to possess, handle, store, and transfer nuclear material for Unit 3 of the Barakah Nuclear Power Plant. …
Macroeconomics