Business

20.09.2026

UAE accelerates drive to take national products to global markets

ABU DHABI, 18th September, 2026 (WAM) -- The UAE continues to strengthen an integrated ecosystem linking domestic production with quality, innovation, technology, supply chains and global markets, enhancing the competitiveness, resilience and sustainability of the national economy.The approach spans the production cycle, from agriculture and food production to advanced manufacturing, product identity, marketing and exports, while directing government and institutional demand towards priority national products.In April, the Cabinet approved the National Project for the Protection of Geographically Defined Products to identify and protect agricultural, industrial and traditional products whose quality, characteristics or reputation are associated with specific areas of the UAE. It also adopted a policy to increase the presence of national products across retail outlets and digital platforms and facilitate manufacturers' access to major supply chains.In agriculture, the National Agriculture Centre (NAC) and the Abu Dhabi Agriculture and Food Safety Authority (ADAFSA) have unveiled the National Project for UAE Good Agricultural Practices (UAE GAP) to raise local production standards and improve access to new markets. The programme aims for 80 percent of local farms to obtain UAE GAP certification.Other measures include the National Agricultural Initiative for the Adoption of Climate-Smart Crops, aimed at diversifying the national food basket and reducing reliance on imports, and the Sustainable Product initiative, which seeks to increase the share of locally produced agricultural and livestock products used by the UAE's restaurant and hotel sector to 25 percent.In industry, an AED1 billion National Industrial Resilience Fund has been approved to support the localisation of critical industries, strengthen supply-chain resilience and accelerate the adoption of artificial intelligence across production, operations and planning.The UAE has also expanded the National In-Country Value Programme, making its application mandatory in selected sectors to channel more government and institutional demand towards national products and strengthen their integration into supply chains.The Make it in the Emirates platform further connects investors, manufacturers and industry leaders with domestic production and investment opportunities, while ADNOC's Local+ initiative gives greater priority to UAE-manufactured products across its projects.Efforts to retain greater value within the national economy also include the launch of the UAE's largest aluminium recycling plant, the Al Taweelah recycling plant in Abu Dhabi-with an annual capacity of 185,000 tonnes, enabling aluminium scrap to be processed locally into high-quality, lower-carbon products.Meanwhile, the Ministry of Industry and Advanced Technology's Factory Forward UAE initiative brings industrial technology transformation programmes and enablers under a single framework. Programmes within the ecosystem have supported more than 700 factories, while over 620 have been assessed through the Industrial Technology Transformation Index (ITTI).Alongside expanding domestic production, the UAE is strengthening international investments and partnerships to connect national capabilities with regional and global resources, markets and value chains.Together, these initiatives reflect the UAE's drive to build a more competitive and technology-enabled national production base, capable of meeting domestic demand while expanding into global markets and strengthening the country's position in international value chains.

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20.09.2026

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19.09.2026

AED 6 billion Al Wadi residential project launched on Yas Island in Abu Dhabi

ABU DHABI, 18th September, 2026 (WAM) -- Cosmo Developments, a joint venture between Abu Dhabi-based Flag Holding Group and Reportage Group, has launched THE WADI, a mixed-use residential development on Yas Island with an estimated investment of AED 6 billion. Cosmo Developments is fully managed and powered by Reportage Group.Overseen by Reportage Group from development and delivery through to long-term management, THE WADI occupies a plot area of approximately 140,700 square metres. It comprises 3,950 residential units, including studios and one-, two- and three-bedroom apartments, alongside commercial, recreational and sports facilities, as well as a hotel planned within the master plan.Conceived as a nature-led destination, THE WADI draws inspiration from the UAE’s enduring landscapes and the journey of water through the valleys. The project’s identity is shaped by the relationship between land, water and life, reinterpreting this natural phenomenon into a contemporary community on Yas Island. Rooted in in the UAE’s natural and cultural heritage, THE WADI is designed to offer a more grounded, reflective and connected way of living.THE WADI is located along Yas Canal on Yas Island, Abu Dhabi, an emerging waterfront residential destination featuring luxury developments, national housing projects and landscaped canal-side promenades. The project is approximately five minutes by car from Zayed International Airport, nine minutes from Ferrari World Yas Island and 11 minutes from Yas Island, while central Abu Dhabi is around 23 minutes away.Andrea Nucera, Managing Director at Cosmo Developments and Group Managing Director at Reportage Group, said: “THE WADI reflects the evolution of Reportage and our approach to developing mixed-use residential communities that respond to their location, the needs of residents and the evolving expectations of the market. The project introduces a new, nature-led design philosophy that redefines the role of nature in shaping how communities are imagined, experienced and valued over time.He added: “THE WADI is designed to contribute to Abu Dhabi’s growing appeal as a destination for residents, investors and visitors, while introducing a distinctive, integrated destination to Yas Island.”Adnan Tareen, Managing Director at Flag Holding, said: “Yas Island provides an exceptional setting for a project of this scale and ambition, and THE WADI has been conceived to complement Abu Dhabi’s continued growth as a global destination for living, investment and tourism. Through its nature-led design, integrated mix of uses and emphasis on quality of life, the project reflects our commitment to developing communities that create long-term value for residents, investors and the wider emirate.''

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16.09.2026

Aldar, Mubadala expand investment in Masdar City with acquisition of Masdar City Square

ABU DHABI, 16th September, 2026 (WAM) -- Aldar and Mubadala Investment Company (‘Mubadala’) have jointly acquired Masdar City Square for AED918 million, through their joint venture established in 2024.The transaction further scales the partners’ high-quality, income-generating real estate portfolio, now valued at AED4.7 billion within Masdar City, one of the region’s leading hubs for clean energy, artificial intelligence, advanced research and sustainable urban development.Masdar City Square comprises more than 47,000 sqm of net leasable area across seven office buildings. Completed in the first quarter of 2026, the complex is 99% occupied by a high-quality tenant base that includes TAQA, the Department of Energy, Emirates College and Mohamed bin Zayed University of Artificial Intelligence.The acquisition further strengthens Aldar’s commercial portfolio, while deepening the JV’s presence in Masdar City which continues to develop as a leading sustainable urban community and business destination with a highly diversified ecosystem. Located near Zayed International Airport and with direct access to major highway networks connecting Abu Dhabi and Dubai, Masdar City Square is strategically positioned within one of Abu Dhabi’s key business districts.Talal Al Dhiyebi, Group Chief Executive at Aldar, said, “Abu Dhabi’s strong economic fundamentals and continued investment in future-focused industries are attracting businesses, institutions and talent from around the world, supporting sustained demand for high-quality commercial real estate. Masdar City is an important part of that growth story, with a distinctive ecosystem built around clean energy, technology, artificial intelligence and advanced research.Masdar City Square adds a high-quality, highly occupied asset to our joint venture with Mubadala as we continue to scale our presence in this strategically important destination.”Ali Eid AlMheiri, Executive Director, Diversified Assets, UAE Investments Platform at Mubadala, said: “Investing in the infrastructure of future-focused sectors is central to how Mubadala’s UAE Investments Platform builds long-term economic value in Abu Dhabi. Masdar City Square is a newly completed commercial asset with near-full occupancy and a high-quality institutional tenant base that reflects Mubadala's disciplined investment approach. Through our joint venture with Aldar, we are assembling a real estate portfolio that strengthens the operating environment for knowledge-driven industries, advances the UAE’s Net Zero ambitions, and contributes to the continued diversification of the UAE economy."Ahmed Baghoum, Chief Executive Officer of Masdar City, said, “Sustainability is central to the design of the complex, which is designed to achieve LEED Platinum and WELL Gold certifications and features solar photovoltaic systems and passive cooling techniques. It also adds a net-zero energy HQ office building, currently serving as Abu Dhabi Department of Energy’s HQ, to the joint venture’s portfolio. Connected to Masdar City’s wider commercial and lifestyle ecosystem, the acquisition advances Masdar City’s vision for a connected, sustainable community that supports investment, innovation and growth, creating lasting value for Abu Dhabi.”The acquisition is the latest transaction under a Masdar City focused joint venture created by Aldar and Mubadala in 2024, which included the acquisition of 17 assets within the Masdar City Green REIT and The Link at Masdar City, which completed in Q1 2026. With the addition of Masdar City Square, the joint venture now holds a diversified portfolio spanning more than 158,000 sqm of net leasable commercial space occupied by a high-quality tenant base that includes IRENA, Masdar, Siemens, G42, and the UAE Space Agency with a weighted average unexpired lease term of approximately 5.2 years. The portfolio also includes over 1,400 residential units, which are fully occupied.

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16.09.2026

Dubai named world number one for fintech, moves up in global rankings

Emirate also climbs to second place for professional services and sixth for reputation, as DIFC-driven innovation cements its financial hub status

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13.09.2026

No passports, queues or luggage tags: Dubai Airports CEO shares his vision of new airport

Facial recognition, smart baggage tags and seamless security will likely replace today’s queues as Al Maktoum International airport prepares to become the world’s largest airport

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13.09.2026

ADIO, Bayer sign strategic agreement to advance life sciences, agri-food innovation

ABU DHABI, 12th September, 2026 (WAM) -- Abu Dhabi Investment Office (ADIO) and Bayer signed a strategic Memorandum of Understanding (MoU) during the state visit of President His Highness Sheikh Mohamed bin Zayed Al Nahyan, to Germany.The MoU establishes a framework to explore collaboration across health, life sciences, food security, philanthropy, and innovation ecosystems.The MoU was signed by Mohammad Ali Al Kamali, Chief Trade and Industry Officer, on behalf of ADIO, and Matthias Berninger, Executive Vice President, Head of Public Affairs, Sustainability and Safety, on behalf of Bayer.The signing was witnessed by Mohammad Abdulrahman Alhawi, Undersecretary of the UAE Ministry of Investment and Hamad Sayah Al Mazrouei, Undersecretary of Abu Dhabi Department of Economic Development.The agreement provides a basis for both organisations to identify and explore opportunities that leverage Bayer's global scientific capabilities and Abu Dhabi's growing innovation ecosystem.Areas of collaboration include agriculture and food security, including potential field trials to understand crop performance in desert and arid conditions; healthcare innovation and access to advanced therapies; health and food security philanthropy, including healthcare access; and engagement with Abu Dhabi's innovation ecosystem, including research institutions, accelerators and technology programmes.The collaboration supports the development of ADIO's Health, Endurance, Longevity and Medicine (HELM) and AgriFood Growth and Water Abundance (AGWA) clusters, strengthening Abu Dhabi's position as a global hub for healthcare innovation and advanced life sciences while advancing the UAE's food security ambitions.Through the agreement, ADIO and Bayer aim to strengthen knowledge exchange and build connections across relevant stakeholders to support the development of future initiatives that contribute to more resilient and sustainable health and food systems.

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12.09.2026

UAE-India economic partnership expands from trade to logistics corridors

NEW DELHI, 12th September, 2026 (WAM) -- The UAE and the Republic of India continue to strengthen a growing strategic and economic partnership that serves as an effective model of cooperation within BRICS, underpinned by historic ties, shared interests and major projects that promote trade, investment and logistics connectivity between markets.Bilateral trade reached US$101.25 billion in the 2025-2026 financial year, marking the second consecutive year in which trade between the two countries exceeded $100 billion.The two countries aim to raise bilateral trade to $200 billion by 2032.The UAE-India partnership continues to expand through a range of strategic initiatives and projects, including Bharat Mart and the Virtual Trade Corridor, alongside cooperation under the India-Middle East-Europe Economic Corridor (IMEC).These initiatives are helping strengthen supply chain integration and create new routes for trade and investment flows between the two countries and global markets.The UAE-India Comprehensive Economic Partnership Agreement (CEPA) holds particular significance as the first agreement of its kind concluded by the UAE. It entered into force in 2022 and has contributed to increasing the flow of goods, services and investment while expanding opportunities for the private sector in both countries.At the multilateral level, the UAE has been a full member of BRICS since January 2024 and is also a member of the New Development Bank, further strengthening its contribution to economic and financial cooperation among BRICS countries.The 18th BRICS Summit opened today, Saturday, 12th September, in the Indian capital, New Delhi, and will continue for two days under the theme "Building for Resilience, Innovation, Cooperation and Sustainability", as India holds the group’s presidency in a year marking the 20th anniversary of BRICS.The growing UAE-India partnership, reflected in expanding trade, increasingly integrated logistics corridors and cooperation in investment and innovation, provides a practical model of the UAE’s role within BRICS and its commitment to exchanging expertise and perspectives and building more integrated and sustainable economic partnerships.

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11.09.2026

ECB hikes interest rates 25 bps to 2.5% as regional tension fuels inflation risk

BRUSSELS, 10th September, 2026 (WAM) -- The European Central Bank Thursday raised interest rates by 25 basis points to 2.5%, indicating that inflation will remain well above its 2% target for an extended period.The bank explained that tension in the region increases uncertainty, warning of upside risks to inflation and downside risks to economic growth.“The conflict in the Middle East continues to generate inflation pressures, and inflation is set to remain well above target for an extended period,” the ECB said in a statement, adding that its decision underscores its commitment to ensuring that inflation stabilises at 2% in the medium term.

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09.09.2026

Gross banks’ assets increased by 1.3%, amounted to AED5,669.1 billion at end of July 2026

ABU DHABI, 9th September, 2026 (WAM) -- The Central Bank of the UAE (CBUAE) issued the “Monetary and Banking Developments – July 2026” report, which showed that gross banks’ assets increased by 1.3%, amounted to AED5,669.1 billion at the end of July 2026.Gross credit continues to grow, increased by AED41.2 billion (by 1.5%), and reaching AED2,798.9 billion at the end of July 2026. The growth was driven by 1.4% increase in domestic credit, reaching AED2,206.0 billion and 1.8% increase in foreign credit reaching AED592.9 billion, contributing positively by 1.1 p.p. and 0.4 p.p., respectively.The expansion in domestic credit was primarily driven by higher lending to Private sector. Credit to Individuals recorded an increase by 2.3% (AED 13.9 billion), contributing by 0.6 p.p., while credit to Corporate increased by 1.1% (AED 10.9 billion), contributing by 0.5 p.p. At the same time, lending to the Government grew by 1.7% (AED 4.2 billion) and added 0.2 p.p. to the overall growth of domestic credit.Banks’ deposits increased by 1.1%, from AED3,472.8 billion at the end of June 2026 to AED3,509.8 billion at the end of July 2026. This growth was driven by an increase in both resident and non-resident deposits. Resident deposits increased by 0.5%, reaching AED3,198.4 billion, while Non-resident rose by 6.8% reaching AED 311.4 billion. Within resident deposits, the largest contribution to the growth came from Private sector deposits by 0.5 p.p. increasing 0.7% during the month, and reaching AED2,344.4 billion. In addition, GREs deposits increased by 3.7% reaching AED347.3 billion and contributing by 0.4 p.p. Meanwhile, OFCs deposits stood at AED61.3 billion and Government sector deposits stood at AED445.4 billion at the end of July 2026.The money supply aggregate M1 increased by 0.7%, amounted to AED1,047.4 billion at the end of July 2026. Currency in circulation outside banks stood at AED159.2 billion, while Monetary deposits increased by 0.9%, reaching AED888.1 billion. The report also showed that the money supply aggregate M2 increased by 0.8% in July 2026, reaching AED2,900.3 billion at the end of month. Based on the sectoral breakdown of deposits, this improvement was attributable to an increase in Corporate and Government Related Entities (GREs) deposits by 0.9% and 3.7% respectively, (contributing by 0.5 p.p. and 0.4 p.p.). Furthermore, the money supply aggregate M3 also increased over the month (by 0.4%), reaching AED3,440.8 billion at the end of July 2026. Corporate and Government Related Entities (GREs) deposits contributed equally (by 0.4 p.p. each) to overall monthly growth of M3. Positive contribution came from Individuals deposits too, increasing by 0.2% and reaching AED896.5 billion. The monetary base increased by 1.2%, amounted to AED792.7 billion at the end of July 2026. During the month, Reserve balances of banks with the CBUAE recorded an increase of 4.7%, reaching AED256.9 billion.

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09.09.2026

RAK Properties, Rakbank launch first off-plan home financing solution

RAS AL KHAIMAH, 9th September, 2026 (WAM) -- RAK Properties has partnered with Rakbank to introduce a first-of-its-kind financing solution designed to make off-plan property ownership more accessible and rewarding for customers looking to invest in Ras Al Khaimah’s vibrant residential property sector.RAK Properties and Rakbank customers will benefit from enhanced flexibility by enabling them to access financing at different stages of their property purchase. Primarily focused on off-plan homes, customers can benefit from tailored financing solutions, exclusive offers and a seamless experience that provides confidence and certainty throughout the process.Buyers can make a low initial investment to unlock access to structured financing solutions. The attractive offers support the entire journey from construction to handover subject to eligibility and applicable terms and conditions.This will be rolled out to select off-plan and under construction RAK Properties developments, including Skai, Quattro Del Mar, Solera, NURA, Anantara Residences, Anantara Villas, ENTA, Lunara on The Strand , Mirasol 1, Mirasol 2, Beach Villas and The Edge.Sameh Muhtadi, Chief Executive Officer of RAK Properties, said, “Our goal at RAK Properties is to make owning a premium residence in Ras Al Khaimah as attractive and easy as possible. By partnering with RAKBANK on this exclusive product, we’re pleased to offer one of the most accessible home financing solutions on the market. More than a standard mortgage product, this highly tailored and flexible financial pathway gives buyers total confidence from the off-plan stage all the way to handover. With this first-of-its-kind solution, RAK Properties is setting a new benchmark within our Emirate’s fast-moving real estate sector.”Raheel Ahmed, Group Chief Executive Officer of Rakbank, said, “Buying a home is one of life’s biggest milestones and, for many people, the fulfilment of a long-held dream. Our role is to help make that dream feel more achievable. Through our partnership with RAK Properties, we are giving eligible customers greater flexibility and support throughout the journey, from construction to the moment they receive the keys to their new home. It is another way we are making banking simpler, more human and more connected to what matters most in our customers’ lives.”

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07.09.2026

Meraas awards over AED590 million main construction contract for City Walk Crestlane

DUBAI, 7th September, 2026 (WAM) -- Meraas, a member of Dubai Holding Real Estate, has awarded Parkway International Contracting a main construction contract worth more than AED590 million for the delivery of 394 apartments across four residential buildings as part of Phase 3 at City Walk Crestlane.According to a press release issued today, construction has already commenced, with completion anticipated by Q3 2028.Khalid Al Malik, Chief Executive Officer of Dubai Holding Real Estate, said, “Crestlane’s continued expansion reflects sustained demand for design-led urban living in central Dubai. This main construction award advances the next stage of delivery.”

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06.09.2026

CBUAE participates virtually in sixth Preparatory Committee meeting of GCC Central Bank Governors

ABU DHABI, 6th September, 2026 (WAM) -- The Central Bank of the United Arab Emirates (CBUAE) participated virtually in the sixth meeting of the Preparatory Committee of the Gulf Cooperation Council (GCC) Central Bank Governors' Committee, held today via videoconference to discuss ways to further enhance financial cooperation among GCC countries.The CBUAE delegation was led by Ebrahim Obaid Al Zaabi, Assistant Governor for Monetary Policy and Financial Stability, and included Mohamed Hussain Al Marzooqi, Head of the International and domestic Affairs, along with senior CBUAE officials.During the meeting, the Committee discussed key issues related to recent monetary and financial developments in GCC countries, reviewed current and planned initiatives under the joint GCC work programme for central banks, and explored ways to further enhance international cooperation in the monetary and banking sectors, while benefitting from leading global experiences and best practices.The Committee also reviewed the latest developments regarding the agreement to link payment systems among GCC countries.In addition, the meeting considered the recommendations of the technical committees and working groups on banking supervision and regulation, payment systems, cybersecurity, as well as the efforts undertaken by GCC countries in the areas of anti-money laundering and countering the financing of terrorism (AML/CFT), in support of stronger and more resilient financial systems across the region.The UAE’s participation, represented by the CBUAE, in this meeting reaffirms its firm commitment to supporting the process of joint economic and monetary integration among GCC countries, and to exchanging views and expertise to further enhance the stability and growth of the banking and financial sector in the region.

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