News

DUBAI/ WAM Following directives by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, the Mohammed bin Rashid Al Maktoum Global Initiatives (MBRGI) announced it has contributed AED43 million (US $11.7 million) in direct food aid for Gaza, in collaboration with the United Nations World Food Programme (WFP), bringing ...

DUBAI / WAM The total number of $10 million plus home sales in Dubai grew by 92.4 %to 431 sales during 2023, according to analysis carried out by global property consultancy, Knight Frank. The total value of sales above this price point grew by 91 % last year to $7.6 billion, 28 % of which was achieved in Q4 alone. ...

ABU DHABI / WAM The Central Bank announced that the Money supply aggregate M1 decreased by 0.2%, from AED799.3 billion at the end of October 2023 to AED797.4 billion at the end of November 2023. This was due to AED4.9 billion fall in Monetary Deposits. Currency in Circulation Outside Banks increased by AED3.0 billion during November 2023. The Money Supply ...

DAVOS/ WAM Omar bin Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy, and Remote Work Applications, emphasised that the rapid growth observed in the global generative artificial intelligence market reflects that AI is the driving force and the engine for the future. He pointed out that the leadership of the UAE has recognised for more than two ...

DUBAI / WAM The Dubai Electricity and Water Authority (Dewa) extended over 364 kilometres of fibre optic (FO) ducts across different areas in Dubai in 2023. This expansion has increased the total length of these cable ducts to 3,998 kilometres, a 10% increase compared to 2022. This initiative aligns with Dewa’s commitment to developing a world-class digital infrastructure that leverages ...

ABU DHABI/ WAM The UAE capital, Abu Dhabi, hosted the 52nd session of the Arab ICT Permanent Committee on 15th January 2024, for two days. The meeting was led by the UAE, represented by Mohammed Al Ramsi, TDRA Deputy Director General for the Telecommunications Sector. Delegations from various Arab countries, Technical Secretariat of the Arab Telecommunications and Information Council of ...

ABU DHABI / WAM UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan has issued a Federal Decree to appoint Sheikh Abdulla bin Mohammed Al Hamed as Chairman of the National Media Office with the rank of minister. The Decree shall be published in the official gazette and shall be effective from the date of issuance.

DAVOS/ WAM Despite the challenges of 2023 and escalating geopolitical tensions, business leaders remain surprisingly optimistic for 2024, according to new research from Economist Impact and DP World, unveiled today at the World Economic Forum. The primary driver is a growing belief that technology will transform the efficiency and resilience of supply chains. Amid escalating concerns about protectionism, global fragmentation ...

DUBAI / WAM Under the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Chairman of The Executive Council of Dubai, and Chairman of Dubai’s Higher Committee for Development and Citizens Affairs, launched the ...

DUBAI/ WAM The UAE’s GDP is expected to expand by over 5 percent in 2024, exceeding the 2.8 percent growth expected for the global economy, according to Standard and Poor’s Global Ratings projections. Tatiana Leskova, Associate Director of Corporate Ratings at Standard and Poor’s Global Ratings, told the Emirates News Agency (WAM) that “while the global economy remained subdued operating ...