According to UAE Minister of Economy Abdullah bin Touq Al Marri, the UAE’s GDP would grow by 7.6 percent in 2022, more than double the expected 3 to 4% growth. “When the Central Bank (of the UAE) and all of the country’s financial institutions declared in March last year that the UAE’s GDP would rise at a rate of 3 to 4%. Now, and this has yet to be reported, we are looking at a (growth rate of) 7.6 percent,” Al Marri added.
Dubai’s ambitious aim to double its economy in the next decade underscores the emirate’s ongoing commitment to economic growth and development. To encourage innovation and generate new opportunities for businesses and individuals, the strategy calls for investments in important sectors such as tourism, trade, logistics, and technology.
The UAE money and exchange company Al Ansari Financial Services may raise up to Dh773 million ($210 million) via the sale of a 10% interest in an initial public offering. According to the firm, it is selling 750 million shares and has set the offer share price range at between Dh1 and Dh1.03 per share, implying a market capitalisation of between Dh7.5 billion ($2.04 billion) and Dh7.73 billion ($2.10 billion) at listing.
Artists, designers, and performers with big goals are increasingly looking for places that will help them transform their ideas into thriving businesses. Dubai is growing as a new destination for creatives from all over the world seeking new pastures to realise the commercial potential of their great ideas.
The “Life Objectives” initiative of Dubai Holding is a Programme aimed at empowering blue-collar workers in the United Arab Emirates (UAE). The Programme is intended to improve the workers’ quality of life and to assist them in achieving their personal and professional goals.
India’s objective of adding 500 gigatonnes of sustainable energy in the next seven years is both real and powerful. As one of the largest renewable energy investors, the UAE and Masdar (a renewable energy investment firm) will explore all opportunities for collaboration with India to contribute to its high-growth-low-carbon path.
Dubai is one of the world’s most ‘cheap’ luxury residential marketplaces. The Palm Jumeirah, one of Dubai’s most prestigious locales, has seen prime price growth of more than 100% since the pandemic began. Premium home prices in Dubai’s most desirable neighbourhoods surged 89% in the last year, although prices are growing from a low foundation.
According to recent data, Dubai’s thriving real estate sector is expected to rise by 46 percent next year. According to Realiste data, home prices in Dubai have increased by 20-40% in the last year. Other localities had considerably greater growth. Palm Jumeirah, for example, increased by 59 percent, while Trade Center First increased by 210 […]
The CBDC strategy was first unveiled in February as part of the central bank’s program to position the UAE as a global financial hub. The Central Bank of the UAE introduced its “The Digital Dirham” Central Bank Digital Currency [CBDC] strategy. The Central Bank of the United Arab Emirates (CBUAE) is getting closer to completely […]
Dubai has a long history of being a hub for gold and silver trade, and it’s not uncommon for the city to release new coins as part of its ongoing efforts to promote its status as a center for precious metals. Dubai’s DMCC has unveiled prototypes of a new series of gold and silver bullion […]