Business Time

UAE’s Non-Oil Sector Activity Grows at Fastest Pace Since April The UAE’s non-oil sector has experienced significant growth, marking the fastest pace of expansion since April. According to the S&P Global UAE Purchasing Managers’ Index (PMI) for October, the sector’s activity has surged, reflecting a robust economic performance. The PMI rose to 54.1 in October,…

Emirates Group Reports Record-Breaking Profits in First Half of 2024-2025 The Emirates Group has achieved its best-ever half-year financial performance, posting a profit before tax of AED 10.4 billion (USD 2.83 billion) for the first six months of the 2024-2025 fiscal year. This remarkable achievement underscores the strength of the group’s business model and Dubai’s…

Dubai’s Economic Resilience: Non-Oil Sector Leads Growth Dubai’s economy has showcased remarkable resilience, with a 3.3% GDP growth in the second quarter of 2024, reaching Dh116 billion. This surge is primarily driven by the robust performance of the non-oil sector, highlighting the emirate’s successful diversification efforts. The S&P Global UAE Purchasing Managers’ Index (PMI) for…

India and UAE Strengthen Economic Ties with New Initiatives The United Arab Emirates and India have taken significant steps to enhance their economic partnership through several key initiatives. These developments aim to boost bilateral investments, facilitate cross-border transactions, and strengthen supply chain cooperation. Investment Treaty Boosts Bilateral Investments A new bilateral investment treaty (BIT) between…

Here’s a 300-word article with two subtitles based on the provided information: UAE Banks Reach New Heights in Financial Strength The United Arab Emirates’ banking sector has achieved a significant milestone, with the combined capital and reserves of its banks surpassing Dh500 billion for the first time. This landmark accomplishment underscores the robust health and…

Here’s a 300-word article with two subtitles based on the provided information: UAE Banking Sector Achieves Milestone in Capital and Reserves The United Arab Emirates’ banking sector has reached a significant milestone, with the combined capital and reserves of UAE banks surpassing Dh500 billion for the first time. This achievement highlights the robust growth and…

UAE Banks Boost SME Lending to $22bn Small and medium-sized enterprises (SMEs) in the UAE received a significant financial boost as banks extended 81.2 billion dirhams ($22.1 billion) in loans and financial facilities by the end of the first half of 2024. This figure, reported by the Central Bank of the UAE (CBUAE), represents 9.5…

India and UAE Strengthen Economic Ties with Key Agreements India and the United Arab Emirates (UAE) have signed significant agreements to enhance their economic and strategic partnership. These deals focus on securing critical mineral supply chains and collaborating on nuclear plant operations, marking a new chapter in bilateral cooperation. Critical Mineral Supply Chains A Memorandum…

The UAE’s embedded finance sector is set for remarkable growth, with projections indicating a 16.1% annual increase to reach $1.56 billion by 2024. This surge is driven by strong government support, technological advancements, and rising consumer demand for integrated financial services. Governmental initiatives like the Future and Dubai International Financial Centre (IFC) are fostering fintech…

The UAE’s embedded finance sector is on track for significant growth, with projections indicating a 16.1% annual increase to reach $1.56 billion in 2024. By 2029, the industry is expected to expand to approximately $550 billion, driven by strong governmental support and increasing consumer demand. Key factors fueling this growth include government initiatives like the…