AGP Executive Report
Last update: 4 hours agoUAE Economic Data Overhaul: Sheikh Mohammed approved a national programme to modernise UAE statistics, rebuilding GDP data from 2010-2026 and setting 2024 as the new base year, with tax and administrative data integrated to better track non-oil, digital and services growth. Banking Performance: First Abu Dhabi Bank (FAB) reported H1’26 net profit of Dhs10.73bn (+1% y/y) and profit before tax of Dhs13.20bn (+3% y/y), with loans up 7% ytd and deposits up 1% ytd. Tourism Push in Dubai: Dubai launched “A Dubai Invite,” paying residents to bring friends and family, offering benefits worth over AED 3,000 (about $800) for eligible visits until Oct. 31, 2026. Trade & Connectivity: Kenya and Dubai set up a Kenya Business Council under Dubai Chambers to unlock trade and investment under the UAE-Kenya CEPA framework. Maritime & Ports: DP World and Fujairah Ports Authority agreed to develop Al Rugaylat Port and Dibba Al Fujairah Multi-Purpose Container Port, strengthening Fujairah’s role as a regional maritime hub. Travel Fraud Warning: Denmark’s consulate in the UAE warned of a surge in fraudulent Schengen visa applications, citing falsified hotel bookings, itineraries and insurance. Markets: Most Gulf markets rose on quarterly earnings, but gains were capped by geopolitical risk and shipping concerns.
Note: AI summary from news headlines; neutral sources weighted more to help reduce bias in the result. Feedback is welcome. Please let us know if you have any comments or suggestions about the AGP Executive Report.
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