Business

01.09.2026

Sharjah Chamber concludes Korea business mission with strategic partnerships

SHARJAH, 1st September, 2026 (WAM) -- The Sharjah Chamber of Commerce and Industry (SCCI) has concluded an official business mission to the brotherly Republic of Korea, led by Halima Humaid Ali Al Owais, Chairperson of the Sharjah Consultative Council and Board Member of SCCI.The delegation comprised 30 prominent businesswomen, women entrepreneurs and representatives of Sharjah's economic, investment and entrepreneurship ecosystem.The mission aimed to expand SCCI's international economic network, open new channels for trade and investment cooperation, and strengthen the global presence and competitiveness of Sharjah's business community.Its programme featured official meetings, business-to-business engagements, field visits and economic events held in cooperation with UAE and Korean institutions, including the Embassy of the brotherly Republic of Korea to the UAE, Korea International Trade Association (KITA), Sharjah Business Women Council (SBWC), Sharjah Entrepreneurship Center (Sheraa), Sharjah Research, Technology and Innovation Park (SRTI Park), and Korea-Arab Society (KAS).The programme strengthened direct business links between the two sides and explored opportunities for strategic partnerships, investment and knowledge exchange.The Sharjah-Korea Businesswomen Forum was a key highlight of the mission, featuring the signing of two strategic Memoranda of Understanding (MoUs). The first was signed between SCCI and KAS, while the second was concluded with the Korea Venture Business Women Association (KOVWA).The agreements seek to deepen trade and economic cooperation and strengthen business networks connecting women entrepreneurs in Sharjah and the brotherly Republic of Korea with new opportunities for market access, growth and strategic partnerships.The forum brought together businesswomen, economic leaders and representatives of business, investment and innovation support institutions. Discussions focused on accelerating women's economic growth, expanding access to international markets and commercialising scientific research, innovation and emerging technologies into high-value products and solutions.The mission also featured a series of B2B meetings linking businesswomen and representatives of companies and institutions from Sharjah and the brotherly Republic of Korea to explore opportunities across high-growth sectors, including artificial intelligence, semiconductors, advanced manufacturing, healthcare, energy and smart mobility.The delegation conducted field visits to Korean enterprises and specialised facilities, including Dongdaemun Design Plaza (DDP), designed by the late architect Zaha Hadid, as well as leading design and textile markets.It also visited Beauty Play to gain insights into the brotherly Republic of Korea's advanced cosmetics ecosystem and participated in the Global Economic Cooperation Forum, creating further opportunities for networking and economic cooperation.A cultural tour of the National Museum of Korea gave the delegation an opportunity to explore the country's history and cultural heritage.Al Owais said the mission successfully enhanced the visibility and market presence of Sharjah's business community in the brotherly Republic of Korea while creating new pathways for strategic partnerships among women entrepreneurs, companies and institutions.She said, "The mission's comprehensive agenda of business meetings, field visits and discussions enabled the delegation to gain first-hand insights into investment opportunities, explore cooperation prospects with Korean counterparts and showcase Sharjah's investment advantages to investors and businesses."She added that B2B engagements helped identify high-potential areas for cooperation, particularly in technology and innovation, advanced industries, healthcare and trade.The mission coincided with Emirati Women's Day on 28th August, marked by a special event organised by the UAE Embassy in Seoul to celebrate Emirati women's achievements and highlight their expanding role in business and investment leadership.The event also featured a panel discussion organised by SCCI, bringing together prominent Emirati businesswomen from the delegation to share their entrepreneurial experiences, perspectives on women's evolving economic role, and the key opportunities and challenges encountered during their careers.

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01.09.2026

Korea's August exports jump 68.7% to $98.25 billion

SEOUL, 1st September, 2026 (WAM) -- The Republic of Korea's exports surged 68.7 percent in August from a year earlier, buoyed by strong semiconductor shipments, data showed Tuesday.Outbound shipments came to US$98.25 billion in August, Yonhap News Agency reported, citing data from the Ministry of Trade, Industry and Resources.Imports climbed 22.6 percent on-year to $63.51 billion, resulting in a trade surplus of $34.75 billion.By sector, semiconductor exports, a key pillar of Asia's fourth-largest economy, soared 209 percent during the period to $46.65 billion, as major technology companies known as hyperscalers stepped up spending on artificial intelligence (AI) infrastructure.Semiconductor exports topped $40 billion for a third consecutive month.Exports of petroleum products jumped 65.3 percent to $6.84 billion, while those of petrochemical products rose 12.2 percent to $3.86 billion. Automobile exports, however, fell 29.8 percent to $3.85 billion.By destination, exports to China shot up 119.3 percent to $24.1 billion, driven by strong shipments of semiconductors and general machinery.Exports to the United States advanced a brisk 89.3 percent to $16.5 billion, mainly on triple-digit growth in shipments of semiconductors and computers.

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31.08.2026

UAE Fuel Prices Set to Rise in September

Fuel prices in the UAE will increase across all categories from Tuesday, 1 September 2026, ending a brief period of relief for motorists as regional tensions keep pressure on energy supply chains.

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31.08.2026

ADRA reports 6.4% growth in new economic licences issued to Emirati businesswomen in Abu Dhabi during H1-2026

ABU DHABI, 31st August, 2026 (WAM) -- The Abu Dhabi Registration Authority (ADRA), the Abu Dhabi Department of Economic Development’s (ADDED) arm to develop and regulate the business sector, has revealed continued strong growth in new economic licences issued to Emirati businesswomen and entrepreneurs, underscoring the success of initiatives and policies to empower women and increase their positive contribution to socio-economic development.ADRA reported that 3,058 new economic licences were issued to Emirati female entrepreneurs and businesswomen during the first half of 2026 (January to June), representing 6.4% rise compared with 2,873 licences issued during the corresponding period in 2025.The continued growth in economic licences and the increasing role of women entrepreneurs across various economic sectors reflect the effectiveness of ADDED’s policies and initiatives, which are aligned with the National Strategy for Empowerment of Emirati Women (2023–2031), launched by H.H. Sheikha Fatima bint Mubarak, Mother of the Nation, Chairwoman of the General Women's Union (GWU), President of the Supreme Council for Motherhood and Childhood, and Supreme Chairwoman of the Family Development Foundation (FDF), to strengthen the women’s role in vital sectors.The licences issued to Emirati businesswomen during the first six months of 2026 covered a wide range of sectors and licence categories, including standard licences, the Tajer Abu Dhabi, and Freelance licences, which enable professionals and specialists to undertake economic activities, helping leverage the extensive knowledge and expertise of professionals to accelerate the transition towards a knowledge and innovation-based economy.The Mobdea licences, one of innovative solutions to enable UAE women turn their creative passions into thriving businesses, witnessed strong growth with a 33% increase in 2025 and 10.1% in the first half of 2026.Mohamed Munif Al Mansoori, Director General of ADRA, said, “The continued strong growth in economic licences owned by Emirati businesswomen over the past few years demonstrates their advanced position in the business sector and the vital role they play in enhancing the competitiveness of Abu Dhabi’s economy. We reaffirm our commitment to continuously developing our services to empower entrepreneurs and businesswomen to transform their ambitions into success stories that support sustainable development.We are proud of women entrepreneurs’ confidence in Abu Dhabi’s business ecosystem and its ability to provide an enabling environment that empowers women to innovate and contribute effectively to socio-economic development. We remain committed to focusing on innovative solutions that support Emirati women on their entrepreneurial journey and strengthen their contribution to an inclusive and sustainable development.”

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31.08.2026

Dubai Customs turns speed into value: Air cargo transactions surge 53% in H1 2026

DUBAI, 31st August, 2026 (WAM) -- As speed increasingly shapes trade and investment decisions, Dubai Customs’ Air Cargo Centres Management is transforming the emirate’s strategic location and global connectivity into a competitive advantage — accelerating cargo flows, keeping pace with the surge in e-commerce, and expanding operational capacity to meet the growing demands of global trade.This gives businesses greater agility in reaching markets and managing their operations, while strengthening Dubai’s role as a global gateway for trade and logistics — where the efficient movement of goods helps unlock new pathways for business, investment, and economic growth.The results for the first half of 2026 reflect the scale of this role: the Air Cargo Centres Management processed approximately 18.2 million customs transactions, compared to around 11.9 million during the same period in 2025, marking growth of nearly 53 %. The total weight of shipments handled by the management reached approximately 1.3 million tons, compared to around 886,000 tons — growth of nearly 47 %.Mohammed Al Ghaffari, Executive Director of the Customs Inspection Division at Dubai Customs said, “These results reflect Dubai Customs’ shift from facilitating trade to empowering it. The role of customs work is no longer limited to processing transactions — it now extends to supporting trade and economic growth, improving the business environment, reducing time and cost, and strengthening Dubai’s ability to attract trade flows and investments linked to the shipping, distribution, logistics, and digital economy sectors, directly contributing to the goals of the Dubai Economic Agenda.”He affirmed that the Customs Inspection Division is one of the key enablers of trade movement in Dubai, given its role in striking a balance between border protection and the smooth flow of trade, and in ensuring goods reach local markets efficiently and reliably.He added, “We are developing a customs inspection model capable of keeping pace with continuous trade growth and the rapid shifts in supply chains, strengthening Dubai’s ability to maintain its position as a pivotal hub for global trade. This approach also translates Dubai Customs’ strategy and future plans into a direct impact on economic activity, ensuring that customs points of entry continue to support trade growth and enhance the emirate’s ability to attract business and connect global markets.”The shift in trade patterns is even more evident in the results of the Free Zone Department within the Air Cargo sector, which completed approximately 17.7 million customs transactions during the first half of 2026, compared to around 10.9 million during the same period in 2025 — growth of 62 %.In a further indicator of growing e-commerce activity, the Free Zone Department handled more than 6.2 million postal parcels during the first six months of the year, placing the air cargo centers at the heart of accelerating flows that require processing vast numbers of shipments and parcels efficiently and quickly, while maintaining the highest levels of customs control and protection.This growth reflects not only a rise in shipping volumes but also a shift in the nature of trade itself. E-commerce relies on large volumes of small shipments and rapid movement from order to delivery, making the efficiency of customs procedures a core part of the digital trade cycle and the experience of both businesses and consumers.In this context, the Cross-Border E-Commerce Platform — one of Dubai Customs’ advanced initiatives — supports the emirate’s ability to keep pace with this shift by providing an integrated customs framework that serves digital trade companies and logistics service providers, linking the sector’s growth to facilitations that speed up procedures and raise operational efficiency.Operational development at the centres is complemented by customs facilitations aimed at easing the burden on the e-commerce sector. Chief among these is the increase in the customs duty exemption threshold for eligible goods and products within cross-border e-commerce shipments to AED1,000, effective 3rd August, 2026.This adjustment gives companies greater scope to capitalize on the growth of digital trade, helping to reduce costs, raise operational efficiency, and strengthen the competitiveness of the business environment.The facilitations also include exempting returned goods imported by companies for personal purposes from customs duties, provided the duties were previously paid and the goods are returned within 60 days of their departure — supporting flexible returns processes in line with the nature of e-commerce.The exemption does not apply to tobacco and its derivatives, e-cigarette devices, accessories, and nicotine liquids, alcoholic beverages, and food preparations containing alcohol.Readiness That Matches the Rapid Growth in Shipping ActivityAbdulla Ahmad Alblooshi, Director of Air Cargo Centers Management at Dubai Customs said, “The results for the first half of 2026 reflect our ability to keep pace with the rapid growth in shipping and e-commerce activity. For us, success isn’t measured only by the number of transactions or the volume of goods we handle — it extends to the greater speed we provide traders and companies in reaching markets, the higher efficiency we enable in managing their operations, and the broader capacity for growth we offer them from Dubai.”He added, “We are working to shorten the time between a shipment’s arrival and its entry into the market, because the speed of customs procedures has become a core part of trade competitiveness. As transaction volumes and shipment sizes continue to rise, we are continuing to build the capabilities of our inspectors and staff, and equipping our centers with smart technologies, devices, and artificial intelligence applications that raise the efficiency of examination and inspection and speed up processing — without compromising protection and customs compliance requirements.”82% Growth Amid Geo-Economic ShiftsThe ability of the air cargo centers to support trade continuity stood out even more clearly during periods of heightened operational pressure and geo-economic shifts. The total volume of imported goods cleared through the Cargo Village at Dubai International Airport and the Air Cargo Centre at Al Maktoum International Airport rose to 48.26 million kilogrammes in May 2026, compared to around 26.56 million kilograms in January of the same year — growth of nearly 82 %.The maximum daily volume of goods handled also rose to 2.11 million kilogrammes in May, compared to 1.24 million kilogrammes in January, reflecting higher operational capacity and the centers’ flexibility in absorbing rising demand while maintaining fast processing and service quality.Dubai Customs supported this readiness through field initiatives aimed at boosting operational capacity, including stepping up inspection activities, introducing innovative procedures to serve customers, and developing work mechanisms — contributing to shorter processing times, faster operations, and the continuous, efficient flow of goods to local markets.

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31.08.2026

Alpha Dhabi to double private credit commitment, stake to US$1 billion in MICAD Credit JV managed by Mubadala Capital

ABU DHABI, 31st August, 2026 (WAM) -- ADX-listed Alpha Dhabi Holding PJSC (Alpha Dhabi), one of the fastest-growing investment holding companies in the MENA region, has increased its investment in its private credit joint venture, MICAD Credit JV, managed by Mubadala Capital, the global alternative asset manager.Under the revised partnership agreement, Alpha Dhabi will double its capital commitment to US$1 billion and increase its ownership interest in the joint venture to 40 percent, from 20 percent.The joint venture’s investment mandate has been broadened to include additional private credit strategies available through Mubadala Capital's longstanding relationships, alongside its existing US and European direct lending activities.The MICAD Credit JV manages approximately US$1.7 billion in assets across 45 portfolio companies.Hamad Salem Al Ameri, Managing Director and Group CEO of Alpha Dhabi Holding PJSC, said, "This expanded partnership with Mubadala Capital reflects our conviction in private credit as a strategic pillar of Alpha Dhabi's investment portfolio.Doubling our commitment and broadening our mandate is a deliberate step — one that positions us to access a wider universe of high-quality global opportunities. With US$1.7 billion in assets across 45 portfolio companies, this joint venture is a strong platform, and we see significant runway ahead.”Omar Eraiqat, President and Chief Investment Officer, Credit and Solutions at Mubadala Capital, said, “The evolution of the joint venture reflects the strength of our approach to building high-quality investment platforms together with institutional partners.As our Credit business continues to grow, we remain focused on expanding access to differentiated private credit opportunities through our investment capabilities and long-term global relationships in the sector.”

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31.08.2026

UAE Fuel Price Committee announces prices for September

ABU DHABI, 31st August, 2026 (WAM) -- The UAE Fuel Price Committee has approved fuel prices for September 2026, with petrol prices adjusted by between 5.56 percent and 5.87 percent.The prices were set under the UAE's monthly fuel pricing mechanism, which tracks movements in global energy prices and reflects changes in the domestic market.The approved prices are as follows:Super “98”: AED3.80 per litre.Special “95”: AED3.69 per litre.E-Plus “91”: AED3.61 per litre.Diesel: AED4.30 per litre.

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31.08.2026

UAE Central Bank orders urgent inspection of Banque Misr branches after US money laundering warning

The Central Bank of the UAE has ordered a special and urgent examination of Banque Misr's branches in the country, one day after US authorities proposed revoking the Egyptian lender's UAE branch access to American correspondent banking.

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30.08.2026

Türkiye’s exports hit record July high of $25.6 billion: TurkStat

ISTANBUL,30th August, 2026 (WAM) -- Türkiye’s exports rose 2.9% year-on-year to $25.62 billion in July, marking the country’s highest-ever export figure for the month, according to official data.The figure also represented Türkiye’s second-highest monthly export value on record, Trade Minister Omer Bolat said in a written statement evaluating provisional data compiled by the Turkish Statistical Institute (TurkStat) and the Trade Ministry.Imports increased 5.1% from a year earlier to $32.97 billion, while the foreign trade deficit widened 13.6% to $7.34 billion. The export-to-import coverage ratio declined to 77.7% from 79.4% in July 2025.Despite regional conflicts and adverse global conditions, exports in the January-July period grew 3.4% year-on-year to $161.54 billion, Bolat said as quoted by Anadolu Agency.Imports during the seven-month period climbed 4.7% to $222.09 billion, pushing the trade deficit up 8.3% to $60.55 billion.Türkiye’s annualized exports increased 3.4%, or $9.2 billion, from a year earlier to $278.5 billion as of July, compared with $269.3 billion in July 2025.Annualized imports rose 4.9%, or $17.6 billion, to $375.3 billion from $357.7 billion over the same period.Bolat said exports remained resilient despite ongoing geopolitical tensions, increasingly difficult international conditions, rising protectionism and weak external demand.The ministry will continue strengthening Türkiye’s export potential through financing, export support, guidance and the activities of its overseas organisation, he added.“We will continue working with all our strength in the coming period to exceed the Medium-Term Program export target of $282 billion,” Bolat said.He added that Türkiye would continue efforts to climb higher in the global export rankings through President Recep Tayyip Erdogan’s vision of high-value-added and competitive exports, while protecting domestic producers against unfair imports.Germany was Türkiye’s largest export destination in July, receiving goods worth $2.04 billion, followed by the US with $1.68 billion, the UK with $1.35 billion, Iraq with $1.11 billion and Italy with $1.11 billion.China was the largest source of imports at $5.04 billion, followed by Russia at $3.23 billion and Germany at $2.52 billion.Manufacturing products accounted for 94.4% of total exports, while high-technology goods represented 4.4% of manufacturing exports.

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30.08.2026

FNRC, JSW Cement agree to expand building materials industry with new 1.65 MTPA grinding unit

FUJAIRAH, 30th August, 2026 (WAM) -- The Fujairah Natural Resources Corporation (FNRC) and JSW Cement signed a contract to establish and operate a new cement grinding unit in Al Tawyeen with an annual production capacity of 1.65 million tonnes per annum (MTPA). The expansion positions Fujairah as a major production hub for the region while aligning with critical shifts across the UAE's industrial landscapes.The project, which is expected to be implemented over a period of approximately 15 months, includes the establishment of a dedicated unit for the production of ordinary Portland cement, along with supporting utilities and infrastructure. The project will contribute to enhancing the production capacity of the building materials sector and supporting the growth of industrial investments in the Emirate of Fujairah.The project reflects the vision of H.H. Sheikh Hamad bin Mohammed Al Sharqi, Member of the Supreme Council and Ruler of Fujairah, and the follow-up of H.H. Sheikh Mohammed bin Hamad Al Sharqi, Crown Prince of Fujairah, to make optimal use of natural resources, expand the base of development projects, and strengthen the industrial sector in support of sustainable economic development in the emirate.Engineer Ali Qasim, Director General of the Fujairah Natural Resources Corporation, said that the signing of the contract represents an important step in supporting industrial investment in the Emirate of Fujairah. He noted that it reflects the Corporation’s commitment to attracting and enabling high-quality projects that generate added value for the local economy and adhere to the best environmental and technical practices, in line with the emirate’s efforts to maximize the utilization of its resources and develop its industrial sector.He said the expansion project represents a significant addition to the industrial sector, as it will enhance production capabilities and support the building materials market in the UAE and the wider region. He also highlighted the Fujairah Natural Resources Corporation’s continued efforts to support strategic projects that strike a balance between economic development and the preservation of natural resources, paving the way for a sustainable industrial future.GSW Cement expressed its appreciation for the support and cooperation provided by the Fujairah Natural Resources Corporation, affirming that the project will help meet growing market demand and enhance production efficiency through the utilization of locally produced clinker.The expansion project comes in response to growing demand for cement in the UAE and the Gulf Cooperation Council (GCC) countries, alongside urban growth and the expansion of infrastructure and construction projects. It will also contribute to improving supply chain efficiency and supporting the sustainability of the building materials sector.At the same time, the project strengthens the position of the Emirate of Fujairah as an attractive destination for industrial and mining investments. It supports the emirate’s efforts to expand development projects and maximize the utilization of available resources, thereby enhancing the competitiveness of the industrial sector and supporting sustainable economic growth at both the local and regional levels.

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30.08.2026

CBUAE participates in G20 Meetings in the United States

ABU DHABI, 30th August, 2026 (WAM) -- The Central Bank of the UAE (CBUAE) is participating in the Fourth G20 Finance and Central Bank Deputies Meeting and the Second G20 Finance Ministers and Central Bank Governors Meeting, taking place in Asheville, North Carolina, United States, from 29th August to 1st September 2026, under the United States’ G20 Presidency for 2026.The CBUAE delegation is led by Ebrahim Obaid Al Zaabi, Assistant Governor for Monetary Policy and Financial Stability, and includes Mohamed Hussain Al Marzooqi, Head of International Relations, and Maryam Abdulla Alzaabi, Manager, Multilateral Affairs.The meetings are expected to address a number of priority topics on the G20 agenda, including current global economic developments, monetary policy, economic growth, financial literacy, and efforts to combat fraud and scams.The CBUAE’s participation reaffirms its commitment to strengthening international monetary and financial cooperation, exchanging expertise and best practices, and contributing actively to international dialogue on key issues and developments in the global financial landscape.

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30.08.2026

Statement regarding branches of Banque Misr operating in UAE

ABU DHABI, 29th August, 2026 (WAM) -- The Central Bank of the UAE reviewed the issued statement of yesterday by the U.S. authorities regarding Proposal of Special Measure Regarding Banque Misr UAE branches, as a Financial Institution Operating Outside of the United States of Primary Money Laundering Concern. The Central Bank would like to emphasise the following:1- Branches of Banque Misr operating in the UAE are subject to the laws and regulations in force in the UAE.2- The Central Bank expects banks licensed in the UAE not to expose the UAE’s financial system to reputational risks, to respect the laws and regulations of the countries whose financial institutions are used in conducting transactions, and not to misuse the advanced financial infrastructure of the UAE.3- The Central Bank periodically examines the procedures for Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) at banks operating in the UAE, verifies the effectiveness of the sanctions screening and other systems, and requires banks to enhance these procedures and systems in accordance with the requirements of the applicable laws and regulations.4- For Banque Misr branches in the UAE, the Central Bank has decided to conduct a special and urgent examination that includes a forensic/in-depth lookback covering the period referred to in the statement issued by the U.S. authorities, with a focus on banking transactions of the companies mentioned in the statement.5- The Central Bank is currently studying the available options regarding the status of the bank in the event it is decided to impose the special measure against it after completing the procedures in accordance with U.S. laws. The appropriate decision in this regard will be taken in due course, taking into consideration the obligations of the bank towards its customers in the UAE.

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29.08.2026

G20 trade accelerated in Q2 2026, boosted by merchandise imports and services trade

PARIS, 29th August, 2026 (WAM) -- G20 merchandise trade accelerated in Q2 2026. Measured in current US dollars, quarter-on-quarter import growth rose markedly to 6.7%, from the 5.2% growth recorded in the previous quarter, reflecting strong increases in a number of G20 economies. G20 merchandise exports growth remained broadly flat at 5.9%. Preliminary estimates also point to an acceleration in services trade, with exports rising by 3.4% and imports by 2.5%, as compared to 2.0% and 1.5% respectively in Q1 2026.

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