Business - Economy and Finance - Emirates 24|7

The team of experts from the European Food Security Crisis Preparedness and Response Mechanism (EFSCM) held a meeting today to assess developments in the Middle East and their potential impact on the agricultural and food sector within the Union. The meeting took place within the framework of the E

The Annual General Meeting (AGM) of the Emirates Central Cooling Systems Corporation PJSC (Empower), held with a quorum of 85 percent of the company’s paid-up share capital, approved the Board of Directors’ proposal to distribute cash dividends of AED437.5 million (4.375 fils per share equivalent t

Britain’s economic growth prospects received the sharpest downgrade of any major economy in the OECD’s interim forecast update on Thursday, following the US war on Iran, while inflation is projected to rise faster than previously anticipated. The Paris-based international body cut its 2026 forecast

The U.S. dollar surrendered recent gains during Asian trading on Thursday as investors sought clarity on potential de-escalation in the Middle East conflict and scaled back expectations for further U.S. interest rate hikes. Amid persistent geopolitical uncertainty, the dollar index—which measures t

 Dr. Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology, ADNOC Managing Director and Group CEO, and Executive Chairman of XRG, has received the 2026 Distinguished Global Leadership Award from the Washington DC-based Middle East Institute (MEI) and dedicated the recognition to Presi

Dubai Chambers has hosted a meeting with senior representatives from the Confederation of Indian Industry (CII) to enhance trade and investment flows between Dubai and India. During the meeting, the two sides agreed to develop a joint action plan aimed at broadening business partnerships across a r

Dubai has achieved its highest ever ranking in the Global Financial Centres Index (GFCI), climbing to seventh place globally, underscoring the emirate’s accelerating rise as one of the world’s most influential financial hubs and its importance in the global financial system. This remarkable achieve

British consumer price inflation held steady at an annual rate of 3.0% in February, official data showed Wednesday, matching January’s figures and meeting economists ' expectations. While the rate remains at its lowest level since March 2025, the Bank of England (BoE) warned of a likely "upward lur

 A U.S. jury has ordered social media giant Meta to pay $375 million in damages for harming children’s mental health and failing to protect minors from sexual exploitation. The verdict, delivered Tuesday in New Mexico following a six-week trial, marks the first time a U.S. state has successfully su

 Investments by banks operating in the UAE increased by 2 percent on a monthly basis, rising by AED16.9 billion during January 2026 to reach AED872.3 billion by the end of the month, while annual growth reached 17.4 percent compared to January 2025, according to banking indicators issued today by t

 DP World has added three new semi-automated quay cranes at its terminal in Jeddah Islamic Port, increasing capacity and enabling more efficient handling of the world’s largest container vessels. This latest capacity expansion comes as shipping activity returns to the Red Sea, strengthening the ter

Gross banks’ assets increased by 1.4% from AED 5,339.9   billion at the end of December 2025 to AED 5,413.6 billion at the end of January 2026, according to a report on the Monetary & Banking Developments – January 2026 issued by the Central Bank of the UAE (CBUAE). The report showed that the gross