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The United Arab Emirates has strengthened its financial crime prevention efforts, with its risk of money laundering decreasing substantially according to a new index. The Basel Anti-Money Laundering Index, an influential rating that assesses countries' systems and controls, has improved the UAE's ranking by 16 spots over the past two years. This reflects impressive progress enhancing anti-money laundering protections across government agencies, businesses and other stakeholders. The improvement comes amid continued implementation of the UAE's robust national strategy for combating money laundering and terrorist financing. Coordinated by the Higher Committee Overseeing the National Strategy and its Executive Office, multi-sector reforms aim to optimize defenses at every level. Key developments supporting the upgraded ratings include establishment of the Executive Office in 2018; introduction of Federal Decree-Law 20/2018 imposing tougher criminal penalties such as life impri...

  The UAE continues its smooth progress with visionary leadership creating an inspiring environment for growth and urban development. Their vision resonates regionally and globally cementing its reputation as a place where dreams can blossom.UAE ranks high in the Compassionate Competition indicator, confirming the kindness of all its strategies. Pioneering governmental initiatives foster excellence through caring service and support, attracting creative thinkers and talented souls from around the world. The UAE welcomes residents with appealing qualities of life. Ranking among the top in a survey of entertainment, income and career opportunities, it leads the Arab world as a place to reside in peace. Security and stability, brought by soft hands, make the UAE a refuge. For eight years, Abu Dhabi has gently cradled the title of the safest city globally. Nearby Ajman, Dubai and Ras Al Khaimah also shelter residents with safety in their top rankings. Digital progress blossoms under...

  The recent visit of the Indian inter-ministerial delegation to the UAE underlines the determination of the two strategic partners to speed up the implementation of the landmark India-Middle East-Europe Economic Corridor (IMEEC) agreement. Signed in February 2022 by PM Narendra Modi and UAE President Sheikh Mohammed bin Zayed, the IMEEC framework aims to boost trade and transportation linkages between Asia, Europe and the Middle East region through collaborative development of efficient multi-modal transit routes. As a key outcome, the Indian delegation - comprising officials from key ministries and ports - held productive discussions with major UAE entities like DP World and AD Ports Group during their visit from May 15-17. The talks focused on integrating systems at major UAE ports in Khalifa, Fujairah and Jebel Ali to facilitate seamless movement of cargo between India and UAE, through measures like a single window clearance mechanism. Collaboration with UAE Customs Authorities...

Abu Dhabi's sovereign investment fund, Mubadala Capital is set for a major venture in Brazil's biofuels sector, according to reports, citing CIO Oscar Fahlgren who also heads Mubadala's Brazilian operations. The planned $13.5 billion investment in biofuels is part of a broader strategy for Brazil, which may also include the creation of a new stock exchange. In this initiative the construction of five processing units also include, each costing $2.7 billion and capable of producing 20,000 barrels of biofuel per day. The first unit is expected to be operational by the end of 2026. Mubadala also plans to open a stock exchange in Brazil in 2025 through its Americas Trading Group. Fahlgren said: "This is a very important investment project," he added. "I see a great opportunity to invest in the green energy transition space in Brazil. are doing very active investing where most foreign investors are pulling back. Brazil is a very large country. It has only one s...

The UAE Accountability Authority (UAEAA) and the Federal Court of Accounts of Brazil (TCU) have joined hand for a socialist partnership , the both country had signed a letter of intent to boost their future cooperation and will sign MOU in coming period. On the official visit to Brazil of delegation from UAEAA, which was headed by Humaid Obaid Abushibs President of UAEAA. Aim of both nation to exchhange of their experties in Accounting supervision The delegation is schedule included bilateral ministerial meetings between Abusives and Vinícius de Carvalho, Chief Minister of the Comptroller General union of Brazil , as well as with the TCU President Bruno Dantas. Discussion on different several topics of Mutual interest Between both Nations. On the sidelines of the visit, both parties held operational meetings to exchange expertise and best practices and applications in the field of supervision to protect public resources.

  The Ministry of Investment of the UAE and the Ministry of Digital Technologies of the Republic of Uzbekistan have signed an investment memorandum, establishing a framework for investment cooperation in digital infrastructure with a focus on data center and artificial intelligence projects in Uzbekistan. The memorandum was signed by Mohamed Hassan Alsuwaidi, Minister of Investment, and Sherzod Shermatov, Minister of Digital Technologies of the Republic of Uzbekistan. The memorandum aims to explore and evaluate joint investment opportunities for new data centres in Uzbekistan, which would provide cloud and AI solutions to both private and government entities. Additionally, the agreement seeks to attract major cloud service providers to the country, assess the potential for super-computer projects, explore the development of language models specific to Uzbekistan, and establish a local talent ecosystem for AI and computing, apart from facilitating strong and effective collaboration ...

Bilateral trade figures reveal the thriving partnership between the UAE and Austria. According to recent data, Emirati exports to Austria grew over 20% last year, totaling €235.9 million. Austrian exports to the UAE similarly increased by 23.5%, reaching €657.7 million.  Direct investments between the nations also gained momentum, with Austria investing approximately €13 billion in the UAE and vice versa at €9 billion. The 2021 Comprehensive Partnership Agreement continues guiding cooperation to new heights across strategic industries. Notable joint projects include collaborations in green hydrogen, renewable energy and expanded petrochemical investments. Austria additionally seeks to boost AI integration with the UAE through academic collaboration.  With the UAE serving as a key trade and innovation hub, its favorable business environment attracts growing participation from Austrian companies. As the strategic relationship that began 50 years ago advances, the economic bonds ...

The United Arab Emirates (UAE) has been pursuing Comprehensive Economic Partnership Agreement (CEPA) deals with a number of countries, including China, India, and South Korea. These agreements are aimed at boosting trade growth in non-oil sectors, opening up new markets and opportunities for businesses, and accelerating the country's economic diversification. In addition, the UAE has launched the D33 economic agenda, a strategic roadmap that aims to transform the economy by promoting innovation, entrepreneurship, and digitalization. The CEPA agreements have been a game-changer for the UAE, giving it a competitive edge in the global trade landscape. The deals provide businesses with a predictable and transparent environment in which to operate, reducing trade barriers and opening up new opportunities for investment. For example, the agreement with China has helped boost trade between the two countries to a record high, with the UAE now China's largest trading partner in the Mi...

  The Oman and UAE rail network, currently under construction, is set to be a game-changer for the transportation industry in the region. The project is expected to bring a host of benefits to the countries and the people, and have a significant impact on the economy. The rail network will provide a much-needed alternative mode of transportation to traditional methods like road and air travel, making travel faster, safer, and more efficient. It will connect the major cities in both countries, including Muscat, Dubai, and Abu Dhabi, and reduce travel times significantly. This will not only benefit commuters and travelers but also make it easier for businesses to transport goods and materials across borders, boosting trade and commerce. The construction of the Oman and UAE rail network is expected to have a significant impact on the economy, with the potential to create new job opportunities, increase trade, and improve the overall infrastructure of the region. The project is expect...

  Dubai Chamber of Digital Economy has released a report projecting that the UAE 's digital economy will grow to over $140 billion by 2031. The report highlights the importance of the digital economy for the UAE's economic growth and the government's efforts to promote it, including initiatives to support startups and the development of digital infrastructure. The report is part of the Dubai Chamber's efforts to strengthen the digital economy ecosystem in Dubai and achieve the goals of the Dubai Economic Agenda. The study, titled ‘Dubai’s Digital Economy and its Thriving Startup Ecosystem’, was published in collaboration with Entrepreneur Middle East.    In  conclusion  U AE’s pioneering initiatives to build the economy of the future help create a world-class digital infrastructure and support the dynamic start-up ecosystem. "Our strategic plans will also focus on achieving the objectives of the Dubai Economic Agenda (D33), especially in terms of driving digit...