The UAE’s annual budget for 2026 has been officially approved, reflecting a balanced approach to revenue and expenditure. His Highness Sheikh Mohammed bin Rashid al Maktoum, the Vice-President and Prime Minister of the UAE, announced that both revenues and expenditures are projected to be Dh92.4 billion. Key Budget Highlights The budget aims to support various…
In a significant development for Saudi Arabia’s healthcare sector, Pfizer Saudi Arabia has entered into a Memorandum of Understanding (MoU) with Lifera, a company backed by the Public Investment Fund (PIF). This partnership, announced during the Global Health Exhibition 2025 in Riyadh, aims to explore opportunities for local pharmaceutical manufacturing in the Kingdom. Objectives of…
Recent fluctuations in gold prices have provided some relief for buyers in the UAE. After a prolonged period of record highs, gold prices saw a notable decline of nearly Dh30 per gram, marking the most significant drop since 2013. This shift offers an opportunity for shoppers to purchase gold at more favorable rates. Current Gold…
Abu Dhabi is taking a significant step towards sustainable transportation with the introduction of its first battery-swapping station for electric motorbikes. This initiative, a collaboration between ADNOC Distribution and Terra Tech Ltd., aims to enhance the efficiency of electric delivery services in the emirate while supporting its clean mobility goals. The New Battery-Swapping Facility Located…
The International Monetary Fund (IMF) has emphasized the critical need for Syria to strengthen its institutions and financial systems before embarking on reconstruction efforts. According to Jihad Azour, the IMF’s Director for the Middle East and Central Asia, the rebuilding of these frameworks is essential for effectively absorbing international aid and investment. The Importance of…
Emirates Airline has announced the resumption of its flights to Antananarivo, Madagascar, effective October 23. This decision comes after a temporary suspension due to ongoing civil unrest in the region. The airline is committed to ensuring safe travel for its passengers as conditions improve. Flight Details and Rebooking Information The flights, designated as EK707 and…
The International Monetary Fund (IMF) has identified the UAE as a frontrunner in the Gulf region’s adoption of artificial intelligence (AI). With significant investments in technology and education, the UAE is well-positioned for future growth, according to IMF officials. Investment in Technology and Education During a media briefing in Dubai, Jihad Azour, Director of the…
A significant development initiative is underway in Makkah, with the Saudi Railway Company partnering with Riyad Capital to establish a SAR6 billion real estate investment fund. This project aims to create a mixed-use urban community that enhances the region’s infrastructure and supports its growing economy. Project Overview The new development will occupy a 90,000-square-meter plot…
flydubai is expanding its global reach by establishing seven new interline agreements, significantly enhancing travel options for its passengers. This strategic move not only increases the airline’s network but also strengthens its position in the competitive aviation market. Expansion of Interline Partnerships With these new agreements, flydubai’s total number of interline partners has surpassed 40,…
The International Monetary Fund (IMF) has updated its growth projections for the Middle East and North Africa (MENA) region, reflecting stronger-than-anticipated economic activity in 2025. The IMF now forecasts a GDP growth rate of 3.2% for the region this year, a significant increase from the previous estimate of 2.1% in 2024. This upward revision is…