DUBAI/WAM The UAE Cabinet, chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, approved a new housing approval package for citizens valued at AED 1.682 billion. The package includes 2,160 decisions for beneficiaries of housing assistance in June 2024 under the Sheikh Zayed Housing Program. The Cabinet …

WASHINGTON/WAM The UAE’s real GDP is projected to grow by 3.9 percent in 2024 and expand to 4.1 percent in 2025, according to the World Bank’s latest Global Economic Prospects report. In April 2024, the World Bank raised its forecast for real GDP growth in the UAE to 3.9 percent in 2024, compared to its January forecast of 3.7 percent. …

VIENNA/WAM The latest data from the Organisation of the Petroleum Exporting Countries (OPEC) shows that the UAE continued to demonstrate growth in its non-oil sectors, registering a 6.7 percent expansion, y-o-y, in 4Q23, up from 5.8 percent in 3Q23. In its Monthly Oil Market Report (MOMR) for June 2024, OPEC says that the construction growth accelerated to 8.4percent in 4Q23 …