Amid efforts to diversify, investments in the Saudi industrial sector have exceeded $132 billion.
The Saudi government is investing heavily in the industrial sector to promote economic diversification and spur job creation.
Final bids for Manchester United have been made by Qatar’s Sheikh Jassim and Ratcliffe.
The Glazer family have reportedly received bids for the sale of Manchester United from Sheikh Jassim and Jim Ratcliffe, estimated to be in the region of £2 billion.
According to Al Jaber, AI research and development is crucial to the UAE’s economic diversification efforts.
Al Jaber highlighted the importance of the UAE’s AI strategy in driving economic growth and development.
UAE takes part in Uzbekistan’s second Tashkent International Investment Forum.
The second Tashkent International Investment Forum highlighted the growing economic ties between the UAE and Uzbekistan, providing a platform for the UAE to showcase its expertise and explore new investment opportunities in the region.
The Euro area experienced a 0.1% increase in GDP, while the EU recorded a 0.3% increase in the first quarter.
The Euro area and the EU have seen positive economic growth in recent months, with increases in GDP, employment, exports, and consumer spending.
Dubai Financial Market has reported a 30% increase in its Q1 2023 net profit, reaching AED35.6 million.
The Dubai Financial Market financial results for Q1 2023 showed strong performance, with total revenue reaching AED71.8 million and operating profit at AED35.6 million.
Mashreq’s operating profit has surged by 96% during the first quarter of 2023.
Mashreq Bank reported strong Q1 2023 results, with net profit increasing by 71% to AED 1.3 billion from AED 764 million in Q1 2022.
Borouge, a company listed on the ADX, reported Q1-2023 revenues of $1.38B due to improved pricing and cost efficiency.
Borouge has demonstrated remarkable resilience and adaptability with its strong Q1-2023 financial results, which were supported by strong demand for its products in key markets and cost-efficiency measures.
Al Ghurair Foods is set to allocate a budget of Dh1 billion towards the construction of three food processing facilities in Abu Dhabi.
Al Ghurair Foods’ investment in the construction of three food processing plants in Abu Dhabi is a significant milestone for the UAE’s food industry.
The deadline set by Dubai for crypto companies to fall under the VARA framework is significant.
The Dubai Financial Services Authority (DFSA) has set a deadline of October 31, 2021 for crypto companies to comply with the Virtual Asset Regulatory Framework (VARA).