UAE Non-Oil Sector Navigates Fluctuating Growth Amidst Global Headwinds The UAE's non-oil business sector has experienced a dynamic period of growth, marked by both robust expansion and notable slowdowns across various months. Recent Purchasing Managers' Index (PMI) reports indicate a mixed landscape, influenced by factors such as demand fluctuations, competitive pressures, and global trade...
Dubai, UAE – In a significant move to bolster its position as a global business hub, Meydan Free Zone has unveiled 'Fawri,' a revolutionary digital platform designed to drastically simplify and accelerate the business setup process. This initiative promises to issue complete business licenses in a mere 60 minutes, setting a new benchmark for entrepreneurial efficiency in the region. Revolutionizing...
President Donald Trump's recent Middle East tour concluded with significant business deals, particularly with the UAE. These agreements, spanning various sectors from AI to energy, highlight deepening economic ties and raise questions about potential conflicts of interest given the Trump family's expanding business ventures in the region. Trump's Middle East Diplomatic and Business Blitz President Donald...
Google has made a substantial economic impact on the UAE in 2024, contributing over $5.9 billion (AED 21.8 billion) to the economy. This significant contribution is attributed to the widespread adoption of Google's AI-powered tools and platforms, which have boosted productivity, created jobs, and fostered economic growth across various sectors. Google's Economic Footprint in the UAE Google's Economic...
The UAE's non-oil private sector experienced a notable slowdown in growth during May, reaching its weakest pace in nearly four years. This follows a period of mixed performance, with robust expansion earlier in the year, steady growth in April, and a moderation in March. The deceleration in May is attributed to competitive pressures and the impact of US tariffs, despite continued strong demand. UAE Non-Oil...
The United Arab Emirates' non-oil private sector experienced a slowdown in growth during March, as indicated by the latest Purchasing Managers' Index (PMI) survey. This moderation suggests a softening in demand momentum within the Gulf region's most diversified economy, with new order growth decelerating for the third consecutive month. UAE Non-Oil Sector Growth Moderates in March Growth in the UAE's...
The UAE has launched the second phase of its ambitious Zero Government Bureaucracy program, a national initiative aimed at drastically streamlining public services and eliminating administrative red tape. This move reinforces the UAE's commitment to becoming a global leader in efficient and impact-driven governance, building on the significant successes of the program's initial phase. UAE Accelerates...
Tellus Power, an Irvine-based supplier of electric vehicle (EV) chargers, has announced a significant joint venture in the United Arab Emirates (UAE). This collaboration, forming 'Tellus Power MENA' with BinHendi Holding and China's Sing Family Enterprise Group, aims to establish one of the first EV charging equipment manufacturing companies in the Middle East, bolstering the region's EV...
The United Arab Emirates (UAE) is rapidly expanding its economic footprint across Africa, significantly increasing investments in key sectors such as renewable energy, infrastructure, and mining. This strategic push aims to diversify the UAE's economy away from fossil fuels, secure vital resources, and solidify its position as a dominant foreign investor on the continent, filling a void left by receding...
The UAE has implemented the OECD's Pillar Two global minimum tax framework and new corporate tax rules, significantly impacting multinational enterprises (MNEs) and businesses operating within its free zones. This move aligns the UAE with international tax standards, aiming to broaden its tax base and diversify revenue sources beyond oil. UAE Embraces Global Tax Reform The UAE has introduced a 9% corporate...
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