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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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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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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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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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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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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BEIRUT, 28th August, 2026 (WAM) -- Ras Al Khaimah Chamber of Commerce and Industry has explored new business and investment opportunities during its participation as part of the UAE’s official delegation at the UAE-Lebanon Business Forum.On the sidelines of the forum, Mohamed Mosbbeh Al Nuaimi, Chairman of Ras Al Khaimah Chamber, signed a cooperation and twinning agreement with the Chamber of Commerce, Industry and Agriculture in Zahle and the Bekaa in the Republic of Lebanon, represented by the Chamber's President, Mounir Al-Tini.The agreement aims to enhance investment and business opportunities and open wider channels for companies and investors in Ras Al Khaimah and Lebanon.Al Nuaimi emphasised that the Chamber attaches great importance to strengthening and formalising partnerships with chambers of commerce around the world, reflecting its commitment to expanding economic and trade cooperation.He said the private sectors on both sides are ready to move from exploring opportunities to establishing concrete partnerships, adding that cooperation agreements provide an institutional framework for companies and investors to identify promising opportunities and build long-term partnerships.Al Nuaimi said the UAE-Lebanon Business Forum highlighted opportunities to expand trade and investment cooperation between the two countries' business communities and develop joint investments and projects.He added that the forum discussed the competitive advantages and promising economic potential of the UAE and Lebanon, as well as ways to leverage them to boost bilateral trade and investment.
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DUBAI, April 5, 2026 (WAM) -- The Dubai Chamber of Commerce, one of three chambers operating under the umbrella of Dubai Chambers, announced that 2,709 new companies joined the chamber in March 2026. The steady growth in membership reflects Dubai's attractiveness to investors under all market conditions.
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DUBAI, April 2, 2026 (WAM) -- This week, new measures announced by H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defense, as well as Chairman of the Dubai Executive Council, aim to strengthen business resilience.
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CAIRO, March 25, 2026 (WAM) -- DP World has enhanced its capacity at the Jeddah Islamic Port terminal by adding three new semi-automated quay cranes, enabling more efficient handling of the world's largest container ships. This latest capacity expansion...
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Due to the ongoing war and increasing uncertainties in the Gulf region, the largest tourism fair in the Gulf, the Arabian Travel Market (ATM), has postponed its 2026 edition to the end of summer. According to a statement made by RX, the event will take place from May 4 to May 7, 2026, at the Dubai World Trade Centre.
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January 21, 2026 - SHARJAH According to Cavendish Maxwell data, the emirate of Dubai is set to add 4,600 new hotel rooms in 2026, compared to 3,400 rooms last year, with plans to open 21 new hotels this year. Additionally, the data indicates that Dubai will have 2,900 new hotel rooms in 2027 and 2028.
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DUBAI, March 10, 2026 (WAM) -- The Ministry of Economy and Tourism organized the 'Ramadan Riyada Majlis' event in Dubai, bringing together leading women entrepreneurs and business leaders from the United Arab Emirates. The purpose of the event is to foster dialogue,
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