Tag: Economy
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UAE’s AED 92.4 Billion Federal Budget Reflects Fiscal Strength as Non-Oil Trade Tops $1 Trillion
The UAE's 2026 federal budget stands at AED 92.4 billion — up 29 per cent from 2025 — as non-oil GDP grew 6.8 per cent and total non-oil foreign trade crossed $1 trillion for the first time in the country's history.
Saudi Arabia’s Vision 2030 Enters Final Phase With $1.31 Trillion Economy and 123 Million Tourists
Saudi Arabia has launched the third and final phase of Vision 2030 with its GDP exceeding $1.31 trillion and non-oil activities accounting for 55 per cent of the economy, while tourism has surpassed its original 100 million visitor target three years ahead of schedule.
UK Seals Historic Free Trade Deal With GCC: First G7 Nation to Sign With Gulf Bloc
The United Kingdom has concluded a landmark free trade agreement with the six-member Gulf Cooperation Council, becoming the first G7 nation to sign such a deal with the Gulf bloc and removing an estimated £580 million in annual duties on UK exports.
UAE Withdraws from OPEC and OPEC+: What It Means for Gulf Energy Policy
The United Arab Emirates announced its decision to withdraw from OPEC and the broader OPEC+ production alliance on April 28, 2026, when Energy Minister...
UAE-South Korea CEPA in Force: What the Landmark Trade Deal Means for Gulf Exporters
The Comprehensive Economic Partnership Agreement between the United Arab Emirates and the Republic of Korea entered into force on 1 May 2026, marking a...
