Latest news with #SheikhMohammedBinRashid
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.
Emirates 24/7
28-05-2025
- General
- Emirates 24/7
Friday 6th June first day of Eid Al Adha in UAE
The Presidential Court has announced the official sighting of the crescent moon marking the beginning of the month of Dhu al-Hijjah for the Hijri year 1446, confirming that Wednesday, 28th May 2025, will be the first day of Dhu al-Hijjah. Consequently, Friday, 6th June 2025, corresponding to 10th Dhu al-Hijjah, will be the first day of Eid Al Adha. "On this occasion, we extend our warmest congratulations and best wishes to President His Highness Sheikh Mohamed bin Zayed Al Nahyan; His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai; Their Highnesses the Supreme Council Members and Rulers of the Emirates; His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister and Chairman of the Presidential Court; the people of the UAE, and to the entire world. We pray to Almighty Allah to return this occasion upon our beloved nation and all with blessings, prosperity, and joy," the Presidential Court said in a statement. Follow Emirates 24|7 on Google News.
Zawya
28-05-2025
- General
- Zawya
UAE announces first day of Eid Al Adha
ABU DHABI: The Presidential Court has announced the official sighting of the crescent moon marking the beginning of the month of Dhu al-Hijjah for the Hijri year 1446, confirming that Wednesday, 28th May 2025, will be the first day of Dhu al-Hijjah. Consequently, Friday, 6th June 2025, corresponding to 10th Dhu al-Hijjah, will be the first day of Eid Al Adha. "On this occasion, we extend our warmest congratulations and best wishes to President His Highness Sheikh Mohamed bin Zayed Al Nahyan; His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai; Their Highnesses the Supreme Council Members and Rulers of the Emirates; His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister and Chairman of the Presidential Court; the people of the UAE, and to the entire world. We pray to Almighty Allah to return this occasion upon our beloved nation and all with blessings, prosperity, and joy," the Presidential Court said in a statement.
