Nation allocated Dh200 billion to investments in clean energy projects locally until 2030
The UAE's real GDP growth accelerated during 2022 due to a robust recovery in non-oil GDP and a sizable expansion of oil GDP, according to the Financial Stability Report for 2022 released on Friday by the Central Bank of the UAE (CBUAE).
The report noted that this comes at a time when the global economy experienced a slowdown in 2022, with external risks remaining elevated in an environment characterised by higher inflation, tightening financial conditions and continued geopolitical tensions.
The UAE, the report said, was one of the fastest-growing economies in 2022, boosted by the removal of most Covid-19-related restrictions, a recovery in global travel and the tourism, real estate and construction and manufacturing sectors, as well as increased activity associated with global events such as the Dubai EXPO and Fifa World Cup in Qatar.
"The UAE real GDP increased by 7.9 per cent in 2022, compared to 4.4 per cent in 2021. This growth is the result of a 7.2 per cent increase in non-oil sector GDP and a 9.5 per cent expansion in oil-sector GDP," the report added.
Nation allocated Dh200 billion to investments in clean energy projects locally until 2030
In the past, several ‘post box’ entities operated out of Mauritius only to secure the tax benefit in India
77% wouldn’t engage with a brand using AI, for at least some services
National Tourism Strategy 2031 aims to increase the contribution of the UAE tourism sector to the national GDP to Dh450 billion
Customer deposits and Islamic customer deposits increased by 2.5% to reach Dh39.5 billion
Annual rents in Dubai are usually paid in two, four or six instalments via post-dated cheques
Saudi Arabia has begun to explore extracting lithium from sea water
RPM reported net profit of Dh49.39 million during 2023