Browsing: Business

The Central Bank of the UAE reported a 0.6% increase in M1 money supply, reaching AED889.3 billion by July’s end, along with gains in M2 and M3, reflecting steady growth in the financial sector.

Eurozone’s inflation at 2% raises caution around ECB rate cuts, ING’s Pesole notes EUR looks expensive as markets weigh wide rate gap between ECB and U.S. Fed.

UAE markets saw 764 major deals totaling AED58 billion this year, led by ADX with 95% of the value. The largest transaction involved TAQA, worth AED22.4 billion.

PureHealth achieved AED1.4 billion in net profit with a 56% revenue boost to AED19 billion for 2024, fueled by strategic acquisitions and increased demand in UAE hospital segments.

UNCTAD’s report reveals global growth will stagnate at 2.7% in 2024-2025, posing risks to development and climate goals while impacting the Global South’s debt levels and overall economic resilience.

ADIPEC 2024 gathers global ministers, CEOs in Abu Dhabi for solutions on AI-driven energy transition, showcasing sustainable strategies across diverse sectors.

Etihad Cargo celebrates its first anniversary of operations in Osaka, Japan, handling 2,911 tonnes of cargo in 2024. The airline now operates 10 weekly flights from Japan, enhancing global connectivity.

Emirates has placed a firm order for five additional Boeing 777 freighters to meet rising cargo demand, with deliveries expected between 2025 and 2026. This will boost its total fleet to 21 units.

The WTO will collaborate on key trade events during COP29 in Baku, supporting climate finance initiatives and high-level discussions on trade’s role in sustainable development.

The UAE is projected to see GDP growth of 3.3% in 2024 and 4.1% in 2025, driven by a robust non-oil sector, according to the World Bank’s latest MENA Economic Update released today.