GCC economy to stay strong amid uncertain global viewpoint
The Gulf Cooperation Council (GCC) economy is expected to show resilience in the face of rising global protectionism and geopolitical tensions, according to the latest ICAEW Economic Insight report prepared by Oxford Economics.
Despite the uncertain global outlook, the report forecasts Middle East GDP growth of 3.3 percent in 2025, with GCC economies set to grow by 4 percent, up from an estimated 1.8 percent in 2024.
While President Trump’s tariff policies have created uncertainty over external demand, the GCC remains largely sheltered from direct tariff impacts. The region’s non-energy sectors are projected to grow by 4.4 percent this year, up from an estimated 3.9 percent in 2024, with regional PMI data firmly in expansionary territory.
Following recent Opec+ policy shifts, oil production will gradually increase from April, boosting oil-sector growth to 3.2 percent after two years of contraction. Saudi Arabia’s, oil output is expected to reach 9.3 million barrels per day, driving oil sector growth of 1.9 percent, while the UAE’s higher quota of 3.5 million barrels per day will support 4.8 percent growth.
UAE-U.S. merchandise trade grows 9.47 pc to $34.43 bn in 2024
The UAE and the U.S. have recently doubled down on their efforts to expand their strategic partnership which is built on more than five decades of coordination and collaboration across various fields, fostering development and prosperity in both nations.
The latest official visit by H.H. Sheikh Tahnoon bin Zayed Al Nahyan, Deputy Ruler of Abu Dhabi and National Security Adviser, to the United States marked a step forward in strengthening those ties.
During the visit, Sheikh Tahnoon met with a number of U.S. officials at the White House. The meetings focused on advancing economic and technology ties between the two countries. Discussions also covered ongoing regional challenges and strengthening the decades-long U.S.-UAE strategic partnership.
Qatar: National Cyber Security Agency issues binding decision against e-commerce company
The National Data Privacy Office, at the National Cyber Security Agency, has issued a binding decision against an e-commerce company.
The decision obliges the company to enhance its compliance with the Personal Data Privacy Protection Law and strengthen its administrative, technical, and financial procedures to ensure the effective protection of personal data.
The binding decision, No. 2 of 2024, was issued following the receipt of a personal data breach incident from the relevant department at the National Cyber Security Agency.
Dubai launches new resolution to regulate free zone operations
Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Deputy Prime Minister and Minister of Defence of the UAE, has issued Executive Council Resolution No (11) of 2025, aimed at regulating the operations of free zone businesses in Dubai.
The resolution, which applies to businesses operating outside free zones, marks a key step in further aligning with the goals of the Dubai Economic Agenda, D3.
The new regulation allows companies licensed by free zone authorities to expand their operations into mainland Dubai, provided they obtain the necessary permits from the Dubai Department of Economy and Tourism (DET).
However, the provisions exclude financial institutions licensed within the Dubai International Financial Centre.
Dubai enlarges business horizons for free zone companies
Dubai has made significant strides toward enhancing its business climate with new regulations allowing free zone companies to operate across the emirate. Issued on March 18, 2025, by Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, the resolution empowers businesses licensed within free zones to extend their reach beyond traditional boundaries, provided they obtain the necessary permits from the Department of Economy and Tourism (DET).
This regulatory shift is seen as pivotal for attracting investments and enhancing business flexibility, aligning perfectly with Dubai’s long-term vision encapsulated under its D33 Agenda. This agenda aims to double the emirate’s economy to AED 32 trillion within the next decade, making Dubai even more appealing as a global economic hub.
OCCI to explore role of Oman’s tax strategies
The Oman Chamber of Commerce and Industry (OCCI) will host its third Ramadan Evening on Monday, spotlighting the critical role of tax policies in promoting economic development.
The session on ‘Taxes and their Impact on Economic Development’ will be held under the patronage of Dr Said bin Mohammed al Saqri, Minister of Economy. The discussion will explore how effective tax frameworks can enhance financial sustainability, maintain fiscal balance, and support the financing of national projects.
It will also delve into the broader implications of tax policy on Oman’s business environment and investment landscape.
The Ramadan Evening series, designed to encourage dialogue between the public and private sectors, provides business owners with a platform to address challenges and propose practical solutions.
The initiative aligns with OCCI’s strategic focus on fostering understanding of policies and legislation shaping Oman’s economic framework.
In us biotech firm tidal vision, oman sovereign wealth fund invests
Oman’s sovereign wealth fund, the Oman Investment Authority (OIA), has invested in Tidal Vision, an American biotech firm specialising in biopolymers.
The sultanate’s investment arm, whose assets exceeded $49 billion in 2023, is one of the investors who participated in Tidal Vision’s oversubscribed $140 million Series B financing round.
The investment is part of the fund’s strategy to capitalise on sustainable innovations that support localisation of products, OIA confirmed on Monday.
Tidal Vision provides biomolecular solutions utilised in various industries like water treatment, agriculture and material science. It uses a natural alternative to traditional chemicals called chitosan, a polymer sourced from the shells of crustaceans like shrimps and crabs.