News

DUBAI / WAM Emirates Group and Dubai Airports released an economic impact study that reaffirms the central role aviation plays in Dubai’s economy, by quantifying its contributions and forecasting the sector’s upwards trajectory, based on financial and passenger growth projections for the sector. The study, compiled by global research firm Oxford Economics, includes an assessment of direct economic activity generated ...

SHARJAH / WAM The University of Sharjah (UOS), through its College of Public Policy, hosted the first Model European Union (Model EU) Simulation Game, under the theme “EU-GCC Digital Cooperation,” in collaboration with the European Union delegation to the UAE and the Centre for Security, Diplomacy, and Strategy (VUB) over two days. This educational initiative aims to empower students and ...

ABU DHABI / WAM The General Pension and Social Security Authority (GPSSA) has stated that accessing services on the new pension platform, Ma’ashi, which translates to ‘My Pension’, requires initial registration and account creation on the GPSSA platform (www.gpssa.gov.ae) using their Digital ID, in order for employers, insured members, pensioners and beneficiaries to benefit and complete their transactions smoothly. Those ...

ABU DHABI / WAM Borouge Plc has reported a 16% year-on-year (YoY) increase in net profit for the third quarter (Q3) of 2024 to $328 million, beating market expectations, driven by the company’s highest ever quarterly sales and robust pricing for its premium products. The company responded to strong demand from customers in the world’s fastest growing economies for innovative, ...

DUBAI / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has approved Law No (23) of 2024 pertaining to the Government of Dubai’s General Budget Cycle for the fiscal years 2025-2027, and the Dubai Government’s general budget for the fiscal year 2025. The three-year budget cycle for ...

DUBAI/WAM Dubai Aerospace Enterprise (DAE) Ltd on Monday announced that it had recently signed an agreement to acquire 10 aircraft for an aggregate consideration of approximately $0.5 billion. The aircraft portfolio is comprised 100 percent of narrow-body, next-generation aircraft on lease to 4 airlines in 4 countries. In addition, DAE has initiated and managed the purchase and sale of equity ...

ABU DHABI/WAM The Anwar Gargash Diplomatic Academy (AGDA), the UAE’s leading diplomatic training centre, in partnership with the Emirates Centre for Strategic Studies and Research (ECSSR), has launched the UAE – Africa Dialogue. This initiative brings together experts, scholars, diplomats, legislators and policymakers to discuss avenues to enhance the relations between Sub-Saharan African countries and the Gulf region, with a ...

WASHINGTON / WAM Abu Dhabi Fund for Development (ADFD) and CAF – Development Bank of Latin America and the Caribbean—have signed a landmark agreement aimed at enhancing collaboration to promote sustainable economic growth and reduce inequalities in Latin America. The agreement establishes a framework for joint initiatives in project co-financing, investment, and information exchange on the sidelines of the annual ...

RAS AL KHAIMAH / WAM Commercial licences in the emirate of Ras Al Khaimah increased by 28.6 percent, and professional and industrial licences by 25 percent each in the first nine months of the year, according to the commercial performance report issued by the emirate’s Department of Economic Development. The report showed a significant growth of 27 percent in commercial ...

ABU DHABI / WAM Abu Dhabi Future Energy Company PJSC – Masdar, the UAE’s clean energy powerhouse, and EMSTEEL, the UAE’s largest publicly listed steel and building materials company, have announced the successful completion of a pilot project demonstrating the use of green hydrogen to produce green steel. The Abu Dhabi-based pilot project, the first-of-its-kind in the Middle East and ...