Author: MoneySecrets
UAE’s EDGE Group and Hungary’s 4iG have signed a Memorandum of Understanding to cooperate on the development of autonomous aerial systems and space surveillance technologies. The signing ceremony took place at 4iG’s headquarters in Budapest in the presence of H.E. Saood Hamad Al Shamsi, the UAE Ambassador to Hungary. The agreement paves the way for the joint exploration of research and development opportunities in key areas such as unmanned aerial systems, counter-drone technologies, and advanced space operations. Officials from both sides emphasized that the partnership demonstrates their shared commitment to advancing cutting-edge defense solutions, particularly in light of evolving global…
The UAE has strengthened its position as a global hub for multinational technology companies through the “NextGen FDI” initiative, launched in July 2022. The initiative has successfully attracted over 90 leading global companies such as Coinbase, Qualcomm, Ripple, and XPENG, operating in strategic sectors including artificial intelligence, semiconductors, blockchain, smart mobility, biotechnology, renewable energy, and climate technology. The initiative aims to attract 300 global tech companies and inject around $500 million into the national economy by offering a favorable investment environment and a wide range of incentives. These include streamlined company setup, expedited licensing, visa and Golden Residency issuance, banking…
Khalid Bin Kalban, Vice Chairman and Chief Executive Officer of Dubai Investments, confirmed that the company delivered strong performance in 2024 with a net profit of AED 1.3 billion, marking a 21% growth. This was driven by economic diversification and investments across multiple sectors, with total assets exceeding AED 22 billion. Bin Kalban revealed that the company is preparing to divest from four of its subsidiaries—two of which are ready for listing, while the other two are currently undergoing expansion and development to reach a target market valuation of no less than USD 500 million each, ensuring proper market readiness.…
Dubai witnessed a significant rebound in business confidence during Q4 2024, supported by sustained economic momentum, improved performance of small and medium enterprises (SMEs), and positive employment expectations tied to rising customer demand and business expansion. According to a business sentiment survey in the emirate, the composite Business Confidence Index rose to 125.5 points, up from 110.7 in Q3—an increase of 14.8 points. SMEs outperformed large enterprises, registering a confidence score of 127 points. Throughout the year, SME sentiment fluctuated, reaching a peak of 140.6 points in Q1, dipping to 116.8 in Q3, and then rebounding in Q4, signaling a…
The Statistics Centre – Abu Dhabi has released its preliminary estimates for the emirate’s GDP in 2024, revealing strong economic performance fueled by accelerated growth across non-oil sectors, in line with Abu Dhabi’s efforts to diversify income sources and promote sustainable development. The real GDP grew by 3.8%, reaching a record high of AED 1.2 trillion. Meanwhile, the non-oil economy posted an impressive 6.2% growth, raising its contribution to GDP to 54.7% — its highest annual share to date. Key sectors such as manufacturing, construction, finance and insurance, and information and communications reached record levels in value-added output, reflecting the…
The United Arab Emirates recorded the highest year-on-year growth in primary debt issuances among GCC countries in the first quarter of 2025. The UAE achieved a 61.6% increase, raising $10.2 billion through 29 issuances. They account for 19.7% of the region’s total debt market, according to a report by Kuwait Financial Centre “Markaz”. Despite a 19.6% decline from the previous year, Saudi Arabia maintained its lead in terms of issuance value, raising $31 billion across 46 deals, representing 60.2% of the GCC’s total issuance value of $51.5 billion from 125 issuances. Qatar ranked third, raising $7.1 billion from 38 issuances…
Dubai Financial Market (DFM) has unveiled the agenda and speaker lineup for the third edition of the MENA Capital Markets Summit, showcasing the emirate’s growing role as a leading global destination for capital flows and investment opportunities. The summit serves as a key platform highlighting major trends shaping regional and global capital markets. It will address the transformative impact of technology on market infrastructure, evolving IPO landscapes, high-growth companies, cross-border capital flows, the rise of retail investor participation, and developments in private markets. The event will host over 100 senior leaders from global financial institutions, regulatory bodies, and government entities,…
The International Monetary Fund (IMF) has revised its global growth forecasts downward. It projected a growth rate of 2.8% for 2025 and 3% for 2026, down from its previous estimate of 3.3% for both years issued in January. These revisions reflect increasing global uncertainty, fueled by rising trade tensions and shifts in economic policy across major economies. Despite the broader slowdown, the IMF maintained its strong outlook for the UAE, forecasting a growth rate of 4% in 2025 and an expected increase to 5% in 2026. This places the UAE among the world’s top-performing economies, alongside China and India. The…
The Gulf Mercantile Exchange (GME), the first international commodities and derivatives exchange in the Middle East, has announced the signing of a Memorandum of Understanding (MoU) with the Shanghai Futures Exchange (ShFE) to establish a framework for strategic cooperation between the derivatives markets of the Gulf region and China. The MoU aims to enhance collaboration in key areas, including the development of joint contracts, the exchange of insights on market development, joint research, and the implementation of investor education and awareness initiatives. The agreement reflects a shared commitment by both parties to promote market transparency and support the development of…
Dubai’s Department of Finance Launches “ASCEND” — The World’s First AI-Powered System for Financial Compliance Dubai’s Department of Finance (DoF) has launched “ASCEND”, an artificial intelligence-powered system designed to verify financial compliance and provide smart recommendations. Unveiled during the inaugural Dubai AI Week 2025, ASCEND is the first system of its kind globally in the field of public financial governance. His Excellency Abdulrahman Saleh Al Saleh, Director General of DoF, emphasized that ASCEND reflects the department’s commitment to modernizing government financial operations and ensuring future-readiness by embracing advanced technologies and innovation. He stated, “Integrating AI into our financial governance model…