Economy

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, chaired the UAE Cabinet meeting at Qasr Al Watan, Abu Dhabi, in the presence of His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister and Minister of the Presidential Court; H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy ...

In a milestone step towards international cooperation and advancement of the media industry, Sharjah Media City (Shams) has signed an MoU with Munhwa Broadcasting Corporation (MBC), the largest television and radio broadcasting company in the Republic of South Korea. His Excellency Rashid Abdullah Al Obed, Managing Director of Sharjah Media City, and Hyoung-Mun Choi, Director of Business Centre and Head ...

The UAE is among the top 10 most powerful passports in the world for investment opportunities, thanks to its stable economy and focus on innovation, according to a new index by investment migration consultancy firm Global Citizen Solutions. The UAE came sixth out of 197 countries on the investment index, with advantages such as zero personal taxation and a high gross national ...

Sharjah Entrepreneurship Centre (Sheraa) has signed a memorandum of understanding (MoU) with Wio Bank, the region’s first platform bank, to empower ecosystem players with Wio platform that is built to reboot banking for the new digital age. The agreement comes within the framework of Sheraa’s vision on the importance of robust, reliable and reputable financial services management for all established ...

Ali Abdullah Al Jari Al Ketbi, Director of the Sharjah Export Development Centre (SEDC) revealed that the centre and the permanent exhibition affiliated with the Sharjah Chamber of Commerce and Industry (SCCI), located in the main building of the Chamber, includes 200 manufacturing and exporting companies, out of approximately 3000 manufacturing companies in the emirate of Sharjah. He also said ...

Low-cost carrier Air Arabia reported a net profit of Dh801 million, an increase of 78 per cent compared to Dh451 million registered in the corresponding first half of 2022. In the same period, the airline posted a turnover of Dh2.82 billion, a 26 per cent increase year-on-year. More than 7.7 million passengers flew with Air Arabia between January and June ...

The real estate sector in Sharjah achieved a trading value of AED13.4 billion during the first half of 2023, with an increase of 19.2 percent compared to the same period last year. According to the semi-annual report issued by the Sharjah Real Estate Registration Department on the real estate in the emirate, there were 40,843 transactions in the first half ...

The UAE ranked first in the Arab world and 29th globally in the competitive industrial performance index issued by the United Nations Industrial Development Organization (UNIDO) 2022, as it rose two ranks compared to the year 2021, in the index that monitors the performance of 153 countries, leading the performance of countries at the regional level. For the second year ...

Arada has reported a record-breaking sales performance during the first half of the year, as buyer demand for its lifestyle communities in Sharjah and Dubai continues to gather pace. The master developer posted a 186 percent increase in sales in the first six months of 2023 compared to the same period in the previous year, with the total value of ...

Brokerage companies at the Dubai Financial Market added 26,953 new investor accounts in the first half of 2023. The market reportedly witnessed significant momentum since the announced listing of 10 governmental and semi-governmental companies, including the Dubai Electricity and Water Company (DEWA), the TECOM Group, and Union Coop, Salik, and Al Ansari, among others. The number of new investor accounts ...