Dubai forms task force to track digital economy
Gulf: Dubai is setting up a task force to track the digital economy and oversee the technological developments in the emirate. Sheikh Hamdan bin Mohammed, Crown Prince of Dubai and chairman of the Executive Council of Dubai, and Sheikh Maktoum bin Mohammed, Deputy Prime Minister and Minister of Finance, issued directives to form the task force, the Dubai Media Office said in a statement on Thursday. The move is part of the directives issued by Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, during the previous meeting of the Dubai Council. Sheikh Mohammed had directed the formation of a higher committee to supervise technological developments in the emirate and oversee developments in the digital economy.
Google drove Dh11.3b to the UAE economy in 2021
Google helped support an estimated Dh11.3 billion in economic activity in the UAE in 2021, a new report has found. The Google Impact Report also revealed that the Andriod Developer Ecosystem is estimated to support 50,000 jobs in the UAE. Google commissioned independent consultancy, Public First, to explore how Google products helped people, businesses, and workers in the UAE throughout 2021. The report explored how Google products including Search, Maps, Android, YouTube, and Cloud helped people in the UAE keep up to date with the latest news and information, discover new local businesses, learn new skills, find jobs, and get more done at work. Anthony Nakache, managing director for Google in the Middle East & North Africa, said that it is great to see the positive impact Google products have on the daily lives of people in the UAE, local business owners, developers, and content creators.
UAE economy minister launches start-up bridge with India
Abdulla bin Touq, UAE’s Minister of Economy, and India’s Commerce Minister Piyush Goyal on Friday launched an India-UAE Start-up Bridge to provide a platform to investors and entrepreneurs from countries following the signing of an economic partnership agreement. India and the Emirates signed the Comprehensive Economic Partnership Agreement, or CEPA, in February. The agreement, which came into effect on May 1, marks a new phase in co-operation and will open more avenues of investment and trade for companies in India and the UAE. The bridge is part of the trade agreement that will act as a one-stop platform to provide information on start-up opportunities to Indian and UAE entrepreneurs and stakeholders, the leaders said at the event organised by the Confederation of Indian Industry in India’s financial capital, Mumbai.
Dubai chamber of digital economy, equiti group discuss ways to boost digital economy
Dubai Chamber of Digital Economy– one of the chambers operating under Dubai Chambers – recently held a meeting with Equiti Group at its headquarters, which aimed to explore new ways to boost the growth of digital economy sectors. The meeting was led by His Excellency Omar Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy, and Remote Work Applications, and Chairman of Dubai Chamber of Digital Economy and Equiti Group CEO, Iskandar Najjar, and other representatives from the company. The meeting outlined a wide range of initiatives and events designed to support the National Strategy for Digital Economy in Dubai and the UAE.
Service ambassador’ programme to enhance shopping experience
Dubai’s Department of Economy and Tourism (DET) has launched a ‘Service Ambassador’ programme with the objective of improving the customer experience in Dubai and thereby reduce consumer complaints. The programme, developed by DET’s Commercial Compliance and Consumer Protection (CCCP) Sector and Dubai College of Tourism (DCT) in cooperation with the Dubai Festivals and Retail Establishment (DFRE) features a specialised course designed to assist employees in businesses and commercial groups elevate the quality and efficiency of their customer service. The Service Ambassador programme is part of a series of innovative initiatives being launched by CCCP to support business and enable merchants to maintain cordial relations with their customers. The course content will be offered online on DCT’s smart learning platform.
Oman’s economy firmly on the road to recovery
The financial indicators for the first quarter of 2022 confirms that Oman’s economy is on a recovery mode. The state’s general budget achieved a financial surplus of more than OMR300 million, said the officials and financial experts, adding it reflects the efforts made by the government and the measures taken by it in this direction, supported as it was by the rise in oil prices in global markets. Dr. Nasser bin Rashid Al Maawali, Undersecretary of the Ministry of Economy, said, “The better financial performance of the Sultanate of Oman by the end of the first quarter of this year reflects the efforts and measures taken by the government to ensure the sustainability of financial and economic conditions, supported by the stability of average global oil prices,” adding that “the financial surplus will be exploited and directed to stimulate growth.
Bahrain’s economy to grow 3pc in 2022
Bahrain’s economy is expected to grow 3 percent in 2022 on the back of higher oil prices and output and a rebound from the Covid-19 pandemic, according to a new study from the National Bank of Kuwait. Fiscal balance in the Gulf country— which posted a 2.2 growth in its gross domestic product in 2021 — is projected to swing back into a surplus this year, well ahead of Manama’s pandemic-delayed target of achieving a balance by 2024, NBK said in its macroeconomic outlook. While economic output is expected to surpass pre-pandemic levels, high debt levels remain a concern. Any retreat in oil prices or an incomplete implementation of the country’s fiscal balance programme (FBP) goals are risks for growth, the lender said.
| Country | 2022 Population |
|---|---|
| Bahrain | 1,783,983 |
| Qatar | 2,979,915 |
| Kuwait | 4,380,326 |
| Oman | 5,323,993 |
| United Arab Emirates | 10,081,785 |
| Saudi Arabia | 35,844,909 |
| Iraq | 42,164,965 |
| Source: World Population Review | |