Economy News

UAE banks raise deposit rates above Central Bank base rate

UAE banks are intensifying competition for retail deposits, offering savings rates significantly above the central bank's 3.65% base rate.

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Economy News

Dubai Financial Market receives Swiss FINMA recognition as Foreign Trading Venue

Dubai Financial Market (DFM) has secured recognition from Switzerland's Financial Market Supervisory Authority as a foreign trading venue, enabling Swiss institutions supervised by FINMA to access DFM's trading platform directly and facilitating the listing of Swiss-incorporated equities in Dubai.

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Economy News

South African investment in Dubai surpasses AED 1bn over five years

South African investment in Dubai has exceeded AED 1 billion over the past five years, spanning key sectors including information and communications technology, pharmaceuticals, and food industries, according to Dubai Chambers.

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Economy News

UAE GDP reaches AED 1.9tn in 2025 on non-oil momentum

The UAE's economy grew 6.2% year-on-year to AED 1.9 trillion in 2025, driven by a 6.8% expansion in the non-oil sector, which reached AED 1.5 trillion, according to the Federal Competitiveness and Statistics Centre (FCSC).

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Economy News

UAE secures AED 171bn in deals at Make It In The Emirates 2026

The fifth edition of Make it in the Emirates, held at ADNEC Centre Abu Dhabi from May 4–7, drew more than 1,200 exhibitors across 88,000 square metres, cementing advanced manufacturing as a cornerstone of UAE economic strategy.

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Economy News

UAE tourism posts record AED 49.2bn in hotel revenue for 2025

The UAE welcomed more than 32 million hotel guests in 2025, generating Dh49.2 billion in hotel revenues – a 9.7% year-on-year increase – according to the Emirates Tourism Council's annual sector report.

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Economy News

MGX backs USD 2.1bn AI drug design round

Abu Dhabi's MGX has joined a USD 2.1 billion Series B funding round for Isomorphic Labs, a UK-based AI-driven drug design company.

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Economy News

Sheikh Hamdan approves AED 1.5bn economic incentives package

Dubai has unveiled a second economic incentives package worth AED 1.5bn, approved by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum.

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Economy News

Dubai Financial Market Q1 profit jumps 43% on trading surge

Dubai Financial Market reported Q1 2026 net profit before tax of AED 193.3 million, up 43% from AED 134.9 million a year earlier.

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Economy News

Emirates Development Bank hits AED 1bn monthly financing milestone

Emirates Development Bank has reached AED1 billion in monthly financing approvals, reinforcing its role in driving the UAE’s industrial and economic diversification agenda.

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