UAE Banking Sector’s Credit Growth Surges Despite Rising Interest Rates
Credit growth in the UAE’s banking sector, a crucial indicator of overall economic health, witnessed a significant surge, reaching nearly Dh2.0 trillion in the first quarter.
The OECD has revised its global GDP growth forecast, modestly increasing it to 2.7%.
In its latest Economic Outlook report released on Wednesday, the Organisation for Economic Co-operation and Development (OECD) announced a modest upward revision in its growth forecast for the world economy.
The SCA in the UAE has announced that companies issuing green bonds in 2023 will be granted a waiver on registration fees.
According to the Securities and Commodities Authority (SCA) in the UAE, companies that issue green bonds in 2023 will be granted an exemption from registration fees.
Dubai Silicon Oasis is actively involved in GITEX Africa 2023
Dubai Silicon Oasis, the leading technology park and integrated free zone in Dubai, is actively involved in GITEX Africa 2023, demonstrating its commitment to expanding its presence in the African market.
The CEO of NAFFCO highlights the strong infrastructure in the UAE as the foundation of their success.
Khalid Al-Khatib, the CEO of NAFFCO, has underscored the vital role played by the UAE’s robust infrastructure and the unwavering support from the government in his success and the remarkable growth of NAFFCO.
Abu Dhabi’s industrial sector will be boosted by 8 new projects at the ‘Make it in the Emirates’ initiative.
Abu Dhabi’s industrial sector is poised to receive a substantial boost by announcing eight new projects at the ‘Make it in the Emirates’ initiative.
UAE’s Mirfa 2 RO plant achieves financial closure, raises $620m.
Abu Dhabi’s Mirfa 2 water desalination project has achieved financial closure after securing a funding of 2.3 billion dirhams ($620 million).
Dana Gas, based in the UAE, has increased its foreign ownership limit to 100%, according to recent news.
The United Arab Emirates (UAE) is taking significant strides towards fortifying its capital markets as Sharjah-based energy company Dana Gas plans to raise its foreign ownership limit to 100 percent.
In 2022 FDI from the UAE into India witnessed a significant surge, reaching Dh56.5 billion.
Foreign direct investment from the UAE to India totalled Dh56.5 billion by the end of 2022 as both countries step up efforts to establish mechanisms that will increase the volume of mutual investments and diversify them into new sectors, Abdulla bin Touq Al Mari, UAE Minister of Economy, said.
The UAE’s FDI to India was mainly in renewable energy and telecommunications, roads infrastructure, real estate, and start-ups, while Indian FDI in the UAE rose to Dh30 billion in 2020, Al Mari said during his meeting with Piyush Goyal, Indian Minister of Commerce, Industry, Consumer Affairs, Food & Public Distribution and Textiles.
Advertisement
The UAE minister said that the UAE-India relations have evolved into an exceptional model of bilateral cooperation and fruitful partnership aimed at promoting sustainable development, economic welfare, and the steady prosperity of their people.
The strategic partnership aims to revolutionize eye care in the UAE Alliance Care Technologies through transformative AI solutions.
Australian-based Eyetelligence, a developer of decision-making support software, and United Arab Emirates (UAE)-based Alliance Care Technologies