The UAE economy is expected to grow by 5 per cent in 2024, driven by an increase in foreign direct investment and strong growth in the non-oil sector.
That’s according to Minister of Economy, Abdulla bin Touq Al Marri, who said that more than 73 per cent of the national economy is now non-oil, which is a historic first for the country.
Speaking ahead of the third annual ‘Investopia’ conference in Abu Dhabi, the minister emphasised that the private sector is a key pillar in the UAE’s economic and investment landscape.
"The UAE has identified the most sustainable and flexible economic sectors, which have reached more than 16 sectors, including health technology, agriculture, education, financial services, artificial intelligence, and other sectors that contribute to the sustainability of economic sectors and enhance the strength of the national economy," he told state news agency WAM.
Investopia, which was launched by the UAE government in September 2021 takes place from February 28-29 under the theme 'Emerging Economic Frontiers: Investing in the New Economy Growth Sectors'.
Spinneys 1961 Holding PLC, an operator of premium grocery retail supermarkets under the Spinneys, Waitrose and Al Fair brands in the UAE and Oman, started trading on Thursday on the Dubai Financial Market (DFM).
After 55 years in the travel retail industry and 41 at the helm of Dubai Duty Free (DDF), Colm McLoughlin, Executive Vice Chairman & CEO has announced that he is stepping down from his role on May 31, 2024.
His Highness Sheikh Ahmed bin Saeed Al Maktoum, President of Dubai Civil Aviation Authority (DCAA), Chairman of Dubai Airports, and Chairman and Chief Executive of Emirates Airline and Group, says he expects passenger traffic at Dubai International Airport to exceed 90 million by the end of this year.
Authorities in the UAE have reviewed efforts to repair federal roads that were damaged during the unprecedented rains and floods that hit the country last month.