Economy

Dubai’s economy grew 2.1 percent YoY in H1-2019, with the emirate’s GDP reaching AED208.2 bn at constant prices in the first six months of 2019, according to data published by the Dubai Statistics Centre, DSC. Arif Al Muhairi, Executive Director of the DSC, said that the flexibility of Dubai’s economy …

Dubai Customs has dealt with 31 million items of luggage for 17.7 million passengers on board 135,000 flights arriving to Dubai International Airport in the first half of 2019, according to Director General of Dubai Customs Ahmed Mahboob Musabih. During his tour of terminals 1 and 2 of Dubai International …

Abdulla Aripov, Prime Minister of Uzbekistan, discussed, with a UAE government delegation, led by Mohammad bin Abdullah Al Gergawi, Minister of Cabinet Affairs and the Future, ways developing the strategic partnership between the UAE and Uzbekistan in the area of government modernisation. Aripov praised the developing partnership between the two …

The Central Bank of the UAE, CBUAE, announced that during October 2019, total bank deposits increased by AED 17.8 billion, attributable to an AED 1.9 billion increase in Resident Deposits and an AED 15.9 billion increase in Non-Resident Deposits. The Money Supply aggregate M1 decreased by 1.2 percent, from AED …

Emirates signed an order for 30 Boeing Co. 787 Dreamliner aircraft worth $8.8 billion at list prices while cutting back on a purchase of the U.S. manufacturer’s larger 777X. The 787 deal involves 10 jets fewer than an outline agreement dating to 2017, while Emirates will take 126 777s, a …

The Ministry of Finance, MoF, stated that issuing Decree-Law No. (19) of 2019 on the Insolvency of Natural Persons affirms the UAE’s leading position in building a legislative and legal system that strengthens the financial and economic stability of the nation. The ministry added that although important, independent legislation dealing …

The number of Indian tourists travelling to the GCC is expected to increase 81 percent from 5.4 million in 2018 to 9.8 million in 2024, growing at a Compound Annual Growth Rate, CAGR, of 10 percent, according to the latest data published ahead of Arabian Travel Market, ATM, 2020. As …

Airbus and Emirates Airline signed a purchase agreement for 50 A350-900s, the newest generation wide-bodied aircraft by Airbus. The order was signed at the Dubai Airshow 2019 by H.H. Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Civil Aviation Authority and Chairman and Chief Executive of Emirates Airline and …

The UAE Cabinet has approved a federal law to regulate cases of insolvency of natural persons, aimed at enhancing the competitiveness of the UAE by ensuring the ease of doing business, creating favourable conditions for individuals facing financial difficulties and protecting those who are unable to pay their debts from …

Heads of state, ministers, policymakers, prominent business leaders, investors and entrepreneurs from Africa are descending on Dubai for the Global Business Forum, GBF, Africa 2019 which officially kicks off on Monday (tomorrow). Held under theme “Scale-Up Africa”, the fifth edition of the two-day forum is organised by Dubai Chamber of …