Latest news with #SheikhMohamedBinZayed
Khaleej Times
6 hours ago
- Politics
- Khaleej Times
UAE President's advisor warns against prolonged Iran-Israel conflict
[Editor's Note: Follow the KT live blog for live updates on the Israel-Iran conflict.] Dr Anwar Gargash, diplomatic advisor to UAE President Sheikh Mohamed bin Zayed Al Nahyan, has urged a quick end to the Iran-Israel conflict, warning of a "difficult aftermath" if the crisis is prolonged. Gargash said the war was "setting back" the Gulf region. "The longer a war takes, the more dangerous it becomes," he told journalists in a briefing on Friday. "I think any extended confrontation or war between Israel and Iran will only bring a very difficult aftermath." US President Donald Trump has given Iran a "maximum" of two weeks to negotiate before possible US air strikes, but Tehran said it would not hold talks while under attack. "De-escalation is extremely important," Gargash said. "We still feel that there is a path back to negotiations on these issues." The Middle East is still dealing with the repercussions of the 2003 US-led invasion of Iraq, which toppled Saddam Hussein but left the country divided and destabilised. One major risk of the current war is disruption to the Strait of Hormuz between Iran and the Arabian Peninsula, which carries one-fifth of global oil output. "This war flies in the face of the regional order the Gulf countries want to build, which is focused on regional prosperity," Gargash said. "We feel that this is setting us back, not only us in the UAE, but I would say the region."
Zawya
5 days ago
- Business
- Zawya
UAE President, Mohammed bin Rashid discuss efforts to advance national development, prosperity driven by national economy
DUBAI: President His Highness Sheikh Mohamed bin Zayed Al Nahyan met today with His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, in the presence of His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister and Chairman of the Presidential Court. During their meeting at Al Marmoom in Dubai, Their Highnesses engaged in warm conversations and discussed various national topics, including the positive indicators the UAE economy continues to deliver, supporting the country's progress and prosperity. The discussion also touched on efforts to enhance government services for the benefit of all members of society. Their Highnesses prayed for continued development and growth for the UAE and its people across all fields. Also in attendance were H.H. Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, Second Deputy Ruler of Dubai; H.H. Sheikh Hamdan bin Mohammed bin Zayed Al Nahyan, Deputy Chairman of the Presidential Court for Special Affair; H.H. Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Civil Aviation Authority, Chairman of Dubai Airports and Chairman and Chief Executive of Emirates Airline and Group; Sheikh Mohammed bin Hamad bin Tahnoon Al Nahyan, Advisor to the UAE President; and Faisal Abdulaziz Mohammed Al Bannai, Advisor to the UAE President for Strategic Research and Advanced Technology Affairs; along with a number of senior officials.
Economy ME
5 days ago
- Business
- Economy ME
UAE GDP hits $483.6 billion in 2024, marking 4 percent growth
The UAE's real gross domestic product (GDP) reached AED1,776 billion in 2024, marking a 4 percent increase compared to 2023. Non-oil GDP expanded by 5 percent, totaling AED1,342 billion, while oil-related activities contributed AED434 billion to the overall economy. H.E. Abdulla bin Touq Al Marri, UAE minister of Economy, emphasized that the latest GDP figures released by the Federal Competitiveness and Statistics Centre (FCSC) reflect a renewed and positive momentum in the national economy. They further underscore the new milestones achieved by the UAE in economic diversification and competitiveness, guided by the vision and directives of its wise leadership. With non-oil sectors accounting for 75.5 percent of the UAE's GDP by the end of last year, H.E. emphasized that these indicators reflect the sustained success of the nation's economic strategies, which are driving the transition toward an innovative, knowledge-based, and sustainable economic model aligned with global trends and emerging technologies. Advancing economic diversification H.E. said: 'Under the leadership of H.H. Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, and guidance from H.H. Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister of the UAE, and Ruler of Dubai, we continue to strengthen our national efforts to achieve the objectives of 'We the UAE 2031' vision. With each milestone, we are moving closer to achieving the UAE's target of raising GDP to AED3 trillion by the next decade, while reinforcing its position as a global hub for the new economy, driven by sustainable development, international competitiveness, and forward-looking leadership.' Hanan Mansour Ahli, managing director of the Federal Competitiveness and Statistics Centre, highlighted that the 4 percent GDP growth in 2024 reflects the UAE's exceptional economic performance, supported by a forward-looking vision focused on sustainable, non-oil-driven growth. Hanan Ahli further stated that the guidance and forward-looking vision of the UAE's wise leadership are focused on building an advanced and globally competitive economic model. Economic diversification is adopted not only as a strategic objective but also as a core operational approach, driving sustainable development and enhancing societal well-being. This model serves as a powerful catalyst for continued progress, ensuring sustained GDP growth and positive performance across a wide range of economic and development indicators. Read more: CBUAE projects UAE GDP growth of 4.7 percent in 2025, 5.7 percent in 2026 Key growth sectors The transport and storage sector emerged as the fastest-growing contributor to GDP in 2024, recording a 9.6 percent year-over-year growth. This growth was primarily driven by the exceptional performance of UAE airports, which handled 147.8 million passengers—an increase of approximately 10 percent. The building and construction sector followed with an 8.4 percent growth rate, supported by substantial investments in urban infrastructure. Financial and insurance activities expanded by 7 percent, while the hospitality sector, encompassing hotels and restaurants, rose by 5.7 percent. Meanwhile, the real estate sector recorded a 4.8 percent growth. Regarding non-oil economic activities that contributed most to the GDP, the trade sector contributed 16.8 percent, the manufacturing sector accounted for 13.5 percent, and financial and insurance activities contributed 13.2 percent. Construction and building contributed 11.7 percent, while real estate activities accounted for 7.8 percent of the non-oil GDP.
Zawya
5 days ago
- Business
- Zawya
UAE's GDP reached $484bln in 2024 with 4% growth
ABU DHABI: The UAE's real gross domestic product (GDP) reached AED1,776 billion in 2024, marking a 4 percent increase compared to that of 2023. Non-oil GDP grew by 5 percent, totalling AED1,342 billion, while oil-related activities contributed AED434 billion to the overall economy. Abdulla bin Touq Al Marri, Minister of Economy, emphasised that the latest GDP figures released by the Federal Competitiveness and Statistics Centre (FCSC) reflect a renewed and positive momentum in the national economy. They further underscore the new milestones achieved by the UAE in economic diversification and competitiveness, guided by the vision and directives of its wise leadership. With non-oil sectors accounting for 75.5 percent of the UAE's GDP by the end of last year, Al Marri emphasised that these indicators reflect the sustained success of the nation's economic strategies, which are driving the transition toward an innovative, knowledge-based, and sustainable economic model aligned with global trends and emerging technologies. Al Marri said, 'Under the leadership of President His Highness Sheikh Mohamed bin Zayed Al Nahyan, and guidance from His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, we continue to strengthen our national efforts to achieve the objectives of 'We the UAE 2031' vision. With each milestone, we are moving closer to achieving the UAE's target of raising GDP to AED3 trillion by the next decade, while reinforcing its position as a global hub for the new economy, driven by sustainable development, international competitiveness, and forward-looking leadership.' Hanan Mansour Ahli, Managing Director of the Federal Competitiveness and Statistics Centre, highlighted that the 4 percent GDP growth in 2024 reflects the UAE's exceptional economic performance, supported by a forward‑looking vision focused on sustainable, non‑oil‑driven growth. Hanan Ahli further stated that the guidance and forward-looking vision of the UAE's wise leadership are focused on building an advanced and globally competitive economic model. Economic diversification is adopted not only as a strategic objective but also as a core operational approach, driving sustainable development and enhancing societal well-being. This model serves as a powerful catalyst for continued progress, ensuring sustained GDP growth and positive performance across a wide range of economic and development indicators. The transport and storage sector emerged as the fastest-growing contributor to GDP in 2024, recording a 9.6 percent year-over-year growth. This growth was primarily driven by the exceptional performance of UAE airports, which handled 147,8 million passengers—an increase of approximately 10 percent. The building and construction sector followed with an 8.4 percent growth rate, supported by substantial investments in urban infrastructure. Financial and insurance activities expanded by 7 percent, while the hospitality sector, encompassing hotels and restaurants, rose by 5.7 percent. Meanwhile, the real estate sector recorded a 4.8 percent growth. With regard to non-oil economic activities that contributed most to the GDP, the trade sector contributed 16.8 percent, the manufacturing sector accounted for 13.5 percent, and financial and insurance activities contributed 13.2 percent. Construction and building contributed 11.7 percent, while real estate activities accounted for 7.8 percent of the non-oil GDP.
Zawya
6 days ago
- Business
- Zawya
UAE's GDP reach AED 1,776bln in 2024 with four per cent growth
Abu Dhabi: The UAE's real gross domestic product (GDP) reached AED 1,776 billion in 2024, marking a 4 per cent increase compared to that of 2023. Non-oil GDP grew by 5 per cent, totaling AED 1,342 billion, while oil-related activities contributed AED 434 billion to the overall economy. H.E. Abdulla bin Touq Al Marri, Minister of Economy, emphasized that the latest GDP figures released by the Federal Competitiveness and Statistics Centre (FCSC) reflect a renewed and positive momentum in the national economy. They further underscore the new milestones achieved by the UAE in economic diversification and competitiveness, guided by the vision and directives of its wise leadership. With non-oil sectors accounting for 75,5 per cent of the UAE's GDP by the end of last year, H.E. emphasized that these indicators reflect the sustained success of the nation's economic strategies, which are driving the transition toward an innovative, knowledge-based, and sustainable economic model aligned with global trends and emerging technologies. H.E. said: 'Under the leadership of H.H. Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, and guidance from H.H. Sheikh Mohammed bin Rashid Al Maktoum, Vice‑President, Prime Minister of the UAE, and Ruler of Dubai, we continue to strengthen our national efforts to achieve the objectives of 'We the UAE 2031' vision. With each milestone, we are moving closer to achieving the UAE's target of raising GDP to AED 3 trillion by the next decade, while reinforcing its position as a global hub for the new economy, driven by sustainable development, international competitiveness, and forward-looking leadership.' Hanan Mansour Ahli, Managing Director of the Federal Competitiveness and Statistics Centre highlighted that the 4 per cent GDP growth in 2024 reflects the UAE's exceptional economic performance, supported by a forward‑looking vision focused on sustainable, non‑oil‑driven growth. Hanan Ahli further stated that the guidance and forward-looking vision of the UAE's wise leadership are focused on building an advanced and globally competitive economic model. Economic diversification is adopted not only as a strategic objective but also as a core operational approach, driving sustainable development and enhancing societal well-being. This model serves as a powerful catalyst for continued progress, ensuring sustained GDP growth and positive performance across a wide range of economic and development indicators. Top performing economic sectors The transport and storage sector emerged as the fastest-growing contributor to GDP in 2024, recording a 9,6 per cent year-over-year growth. This growth was primarily driven by the exceptional performance of UAE airports, which handled 147,8 million passengers—an increase of approximately 10 per cent. The building and construction sector followed with an 8,4 per cent growth rate, supported by substantial investments in urban infrastructure. Financial and insurance activities expanded by 7 per cent, while the hospitality sector, encompassing hotels and restaurants, rose by 5,7 per cent. Meanwhile, the real estate sector recorded a 4,8 per cent growth. With regard to non-oil economic activities that contributed most to the GDP, the trade sector contributed 16,8 per cent, the manufacturing sector accounted for 13,5 per cent, and financial and insurance activities contributed 13,2 per cent. Construction and building contributed 11,7 per cent, while real estate activities accounted for 7,8 per cent of the non-oil GDP. For further information, please contact: Orient Planet Group (OPG) Email: media@ Website:
