Uae Economy

Ashok Leyland bags order for supplying 1,400 school buses in UAE

Indian company says deal win by distribution partners 'reaffirms faith' in its buses

India-UAE deal on Friday to double bilateral trade to $100 billion

The first round negotiation was launched five months ago

UAE liberalises stringent residency law, major boost for visa seekers

The United Arab Emirates announced on Sunday a major plan to stimulate its economy and liberalise stringent residency rules for foreigners, as the country seeks to overhaul its finances and attract visitors and investment. The nation's plan to lure foreign talent over the next decades reflects an emerging contrast with the other sheikhdoms of the Persian Gulf that are growing increasingly protectionist as they try to diversify their oil-bound economies. Now marking its 50th anniversary, the UAE is seeking to accelerate its economic and social reforms to rebrand for a post-pandemic future. Portraying the country as a liberal, bustling trade and finance hub, the government promised to pour USD 13.6 billion into the economy in the next year and USD 150 billion by 2030. Specific projects have yet to be announced, but USD 1.36 billion has been earmarked for Emirates Development Bank to support the industrial sector. We are building the new 50 years' economy, Thani al-Zeyoudi, the minis

UAE opens up economy, allows 100% foreign ownership of firms: Report

Dramatic changes come as it prepares to host 25 mn visitors for the World Expo

Businesses back to growth in top three Arab economies after stumble

The recovery has been fragile in much of the Middle East and faces a further test in the UAE because of a sharp pick-up in new coronavirus cases

Migrant workers from India, Nepal 'totally hopeless' as UAE economy buckles

The treatment of migrant workers in the Gulf has come under greater scrutiny, with human rights groups saying conditions have deteriorated because of the coronavirus.

UAE boosts financial market with law permitting federal govt to issue debt

The UAE has no urgent need to issue federal debt