Tumbling oil prices could see record budget losses for the UAE and Saudi Arabia this year. Prices have hit lower than $40 a barrel, which has put pressure on GCC governments. However, Marios Maratheftis, Global Chief Economist at Standard Chartered expects prices to come up in 2016 due to a limit in oil supplies.
UAE Central Bank support package reaches AED 6.2 billion
The Central Bank of the UAE (CBUAE) has announced the key outcomes of its comprehensive support package designed to strengthen the resilience of financial institutions.
Dubai Holding picks 15 scale-ups from 1,400+ applicants for sustainability challenge
Dubai Holding, a diversified global investment company with investments in more than 30 countries, has announced the 15 bold scale-ups selected for its 'Innovate For Tomorrow' impact accelerator programme.
ADNOC backs UAE's AED1 billion National Industrial Resilience Fund
ADNOC has become the first partner to support the UAE Cabinet's newly announced AED1 billion National Industrial Resilience Fund (NIRF) following a trilateral agreement signed at the 'Make it in the Emirates' 2026.
Trump sets deadline for EU to comply with trade deal or face 'much higher' tariffs
US President Donald Trump has announced on Thursday that he would give the European Union until July 4 to implement trade deal commitments before he raises tariffs on EU goods, including cars, to "much higher levels."
