The UAE has been ranked first in the Arab World in the Global Competitiveness Report for 2019.
The report, which was released at the World Economic Forum in Davos, assesses the landscape of 141 economies around the world.
Globally the emirates was ranked 25th, gaining two positions from the last year.
Sultan bin Saeed Al Mansouri, the UAE's Minister of Economy, said it was a new important milestone ''that would be added to the many landmark achievements made by the UAE".
ADNOC to award AED200 billion in projects to advance growth strategy
ADNOC announced on Sunday plans to award contracts worth AED200 billion over the next three years, as part of efforts to expand production capacity and strengthen the UAE’s industrial base.
OPEC+ agrees third oil output quota hike since Hormuz closure
OPEC+ agreed on Sunday a modest oil output hike for June, an increase that will remain largely on paper as long as the Iran war continues to disrupt Gulf oil supplies through the Strait of Hormuz.
Trump says he will raise tariff on autos from EU to 25%
US President Donald Trump said on Friday he would increase tariffs on cars and trucks from the European Union to 25 per cent next week, saying the bloc had not complied with its trade deal with Washington.
UAE–South Korea CEPA comes into force on May 1
The Comprehensive Economic Partnership Agreement (CEPA) between the UAE and South Korea will officially enter into force on May 1, 2026.
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