Browsing: economic diversification

Saudi Arabia’s Gross Domestic Product (GDP) recorded a 4.4% growth rate in Q4 2024, marking…

Abu Dhabi’s sovereign wealth fund, ADQ, has partnered with Orion Resource Partners to establish a joint venture focused on metals and mining, ADQ announced on Thursday. This initiative aligns with the fund’s strategy to expand its critical minerals portfolio.

Mashreq Bank reported a net profit of AED 9B in 2024, marking a 4% increase from 2023 after accounting for AED 869M in tax payments.

The UAE’s industrial sector has witnessed significant growth in financing, with strong backing from both government and private entities. This collaboration is crucial for driving industrial expansion and achieving the ambitious goals of the “Operation 300 Billion” initiative, as highlighted by the Central Bank of the UAE (CBUAE).

The UAE’s industrial sector has seen notable growth in financing, supported by partnerships between government and private entities. This collaboration is central to achieving the ambitious goals of the “Operation 300 Billion”

Saudi Arabia raised $12B through a three-part bond sale, drawing strong investor interest, the National Debt Management Center (NDMC) reported on Tuesday. The funds will help address the country’s budget deficit, repay maturing debt, and support its wide-ranging economic diversification projects.

The Abu Dhabi Department of Economic Development (ADDED) has launched the Abu Dhabi Registration and Licensing Authority (ADRA) to regulate and enhance the business sector across the emirate.

Dubai’s residential property prices, which have seen significant growth in recent years, are anticipated to moderate in 2025, with a projected increase of 5–10 per cent. Industry leaders attribute this to sustained demand, especially for off-plan developments and affordable housing, alongside ongoing interest in luxury properties.

The new target opens significant opportunities for local and international businesses to engage with ADNOC’s procurement pipeline, fostering investment in the UAE’s manufacturing and industrial sectors while creating jobs for Emiratis.

Emarat Petroleum Company (Emarat) and Lootah Biofuels have signed a Memorandum of Understanding (MoU) to strengthen cooperation, in line with the UAE’s efforts to develop renewable energy sources and promote sustainability.