Economy Middle East

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Alpha Dhabi Holding is doubling its capital commitment to the MICAD Credit JV, managed by Mubadala Capital, to $1 billio...
31/08/2026

Alpha Dhabi Holding is doubling its capital commitment to the MICAD Credit JV, managed by Mubadala Capital, to $1 billion, expanding its exposure to the growing private credit asset class.

The ADX-listed group will also increase its ownership stake in the joint venture to 40% from 20% under a revised partnership agreement.

Dubai Customs’ air cargo operations recorded strong growth in the first half of 2026, with customs transactions rising n...
31/08/2026

Dubai Customs’ air cargo operations recorded strong growth in the first half of 2026, with customs transactions rising nearly 53% year on year to around 18.2 million.

Shipment volumes also increased sharply, with about 1.3 million tons handled during the period, up nearly 47% from a year earlier, as e-commerce flows and air cargo activity continued to expand.

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The UAE’s trade in lab-grown diamonds nearly doubled to a record 76.9 million carats in 2025, prompting DMCC to establis...
31/08/2026

The UAE’s trade in lab-grown diamonds nearly doubled to a record 76.9 million carats in 2025, prompting DMCC to establish the industry as a standalone business vertical as demand expands beyond jewelry into technology and manufacturing.

Trade volumes rose 91.5% year-on-year, while their value increased 7.5% to $1.3 billion. Since 2022, volumes have grown 109%, from 36.8 million carats.

Saudi Arabia and Pakistan are expanding food-security cooperation, with plans to increase Pakistani agricultural and foo...
31/08/2026

Saudi Arabia and Pakistan are expanding food-security cooperation, with plans to increase Pakistani agricultural and food exports to the Kingdom to $3 billion within the next two years.

The agreement followed a Saudi delegation’s visit to Islamabad led by Minister of Environment, Water and Agriculture Abdulrahman Alfadley, with cooperation spanning rice, meat, fruit, fodder and agricultural technology.

Saudi Arabia has undergone one of the region’s fastest shifts from cash to digital payments, supported by regulatory ref...
31/08/2026

Saudi Arabia has undergone one of the region’s fastest shifts from cash to digital payments, supported by regulatory reform, stronger payments infrastructure and growing fintech adoption.

Contactless usage has risen from around 4% in 2017 to approximately 98% of face-to-face transactions today, while electronic payments accounted for 85% of total retail payments in 2025.

In this interview, Ali Bailoun, Senior Vice President and Group Country Manager for Saudi Arabia, Bahrain and Oman at Visa, discusses the evolution of payments across the Gulf and the trends shaping its next phase, from agentic commerce and stablecoins to quantum computing.

Read the full interview: https://economymiddleeast.com/news/from-cash-to-contactless-inside-visas-blueprint-for-the-gulfs-payments-transformation/

Dubai is expanding road capacity around Al Meydan Street under two contracts worth a combined AED1.161 billion, as the e...
31/08/2026

Dubai is expanding road capacity around Al Meydan Street under two contracts worth a combined AED1.161 billion, as the emirate continues to develop its transport network alongside population and urban growth.

The RTA project will deliver 3.7 kilometers of bridges, 17 kilometers of roads and new cycling infrastructure, with completion scheduled for the end of 2028.

On the occasion of the new school year in the UAE, President His Highness Sheikh Mohamed bin Zayed Al Nahyan shared an i...
31/08/2026

On the occasion of the new school year in the UAE, President His Highness Sheikh Mohamed bin Zayed Al Nahyan shared an inspiring message with students, reminding them of the important role they will play in shaping the nation’s future.

“You, my sons and daughters, are the future of our nation. I therefore call on you to read, to pursue continuous learning, and to uphold our national identity.”

As students return to classrooms across the UAE, the message reflects the country’s continued commitment to education and investing in future generations.

LEAP 2026 opens its fifth edition in Riyadh today, August 31, bringing together global technology leaders, investors, fo...
31/08/2026

LEAP 2026 opens its fifth edition in Riyadh today, August 31, bringing together global technology leaders, investors, founders and innovators for four days of announcements, discussions and live demonstrations.

The program spans AI, advanced computing, mobility, gaming, sport and emerging technology, with 16 stages and more than 20 content tracks. A total of 1,289 investors from 1,016 firms, representing a combined $14.5 trillion in assets under management, are confirmed to attend.

Global stock markets traded mostly lower on Monday as renewed U.S.-Iran military clashes pushed oil prices back above $9...
31/08/2026

Global stock markets traded mostly lower on Monday as renewed U.S.-Iran military clashes pushed oil prices back above $90 a barrel, fueling concerns over inflation and the outlook for monetary policy.

S&P 500 futures fell 0.17% to 7,709.00, Germany’s DAX declined 0.66% to 26,408.60, while Japan’s Nikkei 225 closed 0.23% lower at 66,256.00.

The UAE is strengthening the link between scientific research, education and strategic industries with the establishment...
31/08/2026

The UAE is strengthening the link between scientific research, education and strategic industries with the establishment of the National Programme for Advanced Sciences and Technologies.

Created by a decision from UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan, the program will build an integrated pathway spanning education, R&D, talent development and industrial application, with a focus on turning advanced technologies into locally developed solutions that can be manufactured, scaled and exported.

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