Saudi Arabia’s total non-oil trade with GCC hits $4.2bn, driven by booming re-exports and growing ties with UAE, Bahrain, and Oman
Politics & Economics
Latest in Politics & Economics
Dubai
Dubai Chamber announces new unified platform for delivery services
The Dubai Delivery Business Group will work closely with government entities and private sector stakeholders to discuss sector-related trends, overcome challenges, and capitalise on opportunities
Donald Trump
Trump’s $5mn Gold Card in question as hefty price tag, tax burden may deter wealthy investors
Programme faces steep competition from European residency schemes costing as little as $270,000; no legislation drafted despite marketing buzz
Emirates Global Aluminium
UAE’s EGA says wrongful termination of contract by Guinea will cost 2,000 jobs
The UAE company, and its subsidiary GAC, are set to defend their rights and seek redress before international tribunals
azerbaijan
UAE and Azerbaijan sign CEPA deal to boost $2.4bn trade ties
Deal witnessed by UAE President Sheikh Mohamed and Azerbaijan’s President Aliyev will deepen cooperation in energy, tourism, logistics and more
Dubai
Dubai’s DIB helps arrange $1 billion sovereign financing for Pakistan
The Dubai bank was the sole Islamic global coordinator and worked with Standard Chartered as Joint Mandated Lead Arrangers
Ruler of Dubai
UAE announces new system to measure government performance
The Proactive Government Performance System is aimed at enhancing government performance, improve service delivery, and achieve the strategic goals of the ‘We the UAE 2031’ vision
cepa
UAE deal with Eurasian Economic Union will slash tariffs as bilateral trade soars over 50%
UAE looks to build trade relations with Eurasian Economic Union
Abu Dhabi
Abu Dhabi Chamber membership passes 157,200 as business confidence surges with $79.2bn GDP boost
Abu Dhabi Chamber of Commerce and Industry saw a 4.9 per cent increase in membership as emirate GDP swells
Artificial intelligence
Middle East uniquely positioned to leverage global changes
Strategic AI adoption and climate resilience could add $232bn to the region’s GDP in the next decade, says PwC
Donald Trump
Trump delays tariff hikes to August, targets new countries
August 1 now set as new date for sweeping trade penalties unless concessions made
GDP
Oman GDP grows 2.5% in Q1 2025 reaching $24.5bn
The National Centre for Statistics and Information released the data as part of its quarterly economic assessment, highlighting the diversification efforts within Oman’s economy
Abu Dhabi Department of Economic Development
Abu Dhabi GDP hits $79.2bn in Q1 2025 as non-oil economy surges 6.1%
Abu Dhabi economy shows strong start to year as GDP climbs to around $80bn
India
UAE and India deepen economic partnership as 22,415 Indian firms enter UAE in H1
There are now 264,687 Indian firms operating in the UAE
corruption
Saudi Arabia cracks down on bribes, kickbacks, frauds, kidnapping and more
Nazaha, the Oversight and Anti-Corruption Authority, reveals a number of criminal cases in which it has taken action against offenders
Kuwait
Kuwait introduces tax rules, expects $820m in revenue
Kuwait issues new multinational tax regulations and expects $820m in annual revenue
economic outlook
Qatar GDP grows 3.7% in Q1 2025
The 5.3 per cent growth in Qatar’s non-hydrocarbon economy during the first quarter of this year was driven by strong performances across key sectors