🇷🇺 Russia, 🇦🇪 United Arab Emirates · Economy
36 storiesUAE-EAEU economic partnership agreement enters into force
The Economic Partnership Agreement between the UAE and the Eurasian Economic Union entered into force on Tuesday, covering Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia. The two sides will grant preferential access across more than 86…
Hong Kong imports of Russian gold hit record as flows shift to China
Hong Kong's imports of Russian gold reached a record 112.7 tonnes from January to July 2026, CNBC reported, exceeding the whole of the previous year and many times the 2021 level. Russian gold accounted for almost 15% of Hong Kong's non-mon…
Russia's trade with CIS countries exceeded $110bn in 2025, Kremlin aide says
Presidential aide Yuri Ushakov said Russia's trade turnover with CIS countries exceeded $110 billion in 2025, and that mutual trade rose a further 12% in the first half of 2026, according to Vedomosti. He also said a stable financial infras…
World Bank keeps Russia's 2026 GDP growth forecast at 0.8%
The World Bank kept its forecast for Russian economic growth in 2026 at 0.8%, according to its updated outlook for the Europe and Central Asia region. It expects growth of 0.7% in 2027 and 0.7% in 2028, slowing from 1% in 2025, citing weake…
UNCTAD: UAE outward FDI hits $63.353bn in 2025, stock at $402.729bn
UN Trade and Development (UNCTAD) data show outward foreign direct investment flows from the UAE reached $63.353 billion in 2025, with outward FDI stock at $402.729 billion at the end of the year, compared with $55.560 billion in 2010. Glob…
Sheikh Mohammed bin Hamdan receives ADAFSA delegation, reviews agricultural strategy
Sheikh Mohammed bin Hamdan bin Zayed Al Nahyan, Undersecretary of the Ruler’s Representative Court in Al Ain Region, received a delegation from the Abu Dhabi Agriculture and Food Safety Authority (ADAFSA), headed by Dr Tariq Ahmed Al Ameri,…
Russia: 2027 funded pension may exceed 1,800 rubles, urgent pension over 3,500 rubles
The average annual urgent pension payment in Russia in 2027 may exceed 3,500 rubles, TASS reported. The average annual funded pension in 2027 may exceed 1,800 rubles, according to TASS and RIA Novosti. The documents did not specify who prov…
Merz says absence of new EU budget most beneficial for Germany
German Chancellor Merz said the absence of a new EU budget is the most advantageous scenario for Germany, according to TASS and RIA Novosti. TASS reported that Merz also said the EU will need a new budget plan from 2028.
Russia's finance minister forecasts 1.4% growth in real incomes in 2027
Finance Minister Anton Siluanov said real incomes of the Russian population will grow 1.4% in 2027, speaking at parliamentary hearings in the Federation Council. He said growth would average 2.5% a year in the following two years. Vedomosti…
Russian government to write off nearly 3 bln rubles of Belgorod region debt
The Russian government will write off almost 3 billion rubles of the Belgorod region's budget debt under a federal programme to support regions, Prime Minister Mikhail Mishustin said, according to TASS, RIA Novosti, Kommersant and RBC. Komm…
Finance Minister Siluanov says 35,000 ruble minimum wage target for 2030 will be met
Finance Minister Anton Siluanov said the presidential task of raising Russia’s minimum wage (MROT) to 35,000 rubles by 2030 will be fulfilled, speaking at parliamentary hearings in the Federation Council. He said MROT will rise to 28,935 ru…
UAE and Saudi non-oil sectors keep growing in September as PMI readings rise
S&P Global's September purchasing managers' indices signalled continued growth in the non-oil private sectors of the UAE, Saudi Arabia and Kuwait, while Egypt's PMI eased, Forbes Middle East reported. Saudi Arabia's Riyad Bank PMI rose to 5…
GCC outward worker remittances hit record $161 billion in 2025, GCC-Stat says
GCC countries recorded the world's highest outward workers' remittances in 2025 at about $161 billion, up 13.6 per cent from 2024, according to the GCC Statistical Centre. The UAE was the largest source at $62.1 billion, followed by Saudi A…
Russia’s state grain purchases may begin in late October, agriculture minister says
Agriculture Minister Oksana Lut said state grain purchases for the intervention fund could start from late October, after the budget was agreed. She said a bank still has to be selected and elevators are being chosen, with owners so far off…
Matviyenko says ending VAT break on delicacies could add 6 bln rubles to budget
Valentina Matviyenko, speaker of the Federation Council, said at parliamentary hearings on the 2027 federal budget draft that cancelling the reduced VAT rate on delicacy foods including oysters, lobsters, langoustines and lobsters could bri…
UAE enters world's top 25 in WIPO Global Innovation Index for first time
The UAE ranked 25th among 139 economies in the 2026 Global Innovation Index compiled by the World Intellectual Property Organization, up five places from 30th in 2025 and its first time inside the top 25. The country placed first globally i…
Russia's draft 2027-2029 budget resilient to any scenario, Siluanov says
Russian Finance Minister Anton Siluanov said the draft budget for 2027-2029 is resilient to any scenario of economic development. RBC reported that he put the deficit at a safe level of about 2% of GDP over the coming three years and said s…
Siluanov: oil and gas share of Russia's budget will stay below 17% through 2029
Russian Finance Minister Anton Siluanov said the share of oil and gas revenues in the federal budget will not exceed 17% over the next three years, and that the non-oil-and-gas balance will be about 5%. Vedomosti reported he called that the…
Matvienko calls Russia’s 2027-2029 budget draft “financial art”
Federation Council speaker Valentina Matvienko praised the federal budget draft for 2027-2029 at parliamentary hearings, calling it “financial art” and saying it is balanced and that all social obligations are guaranteed. Vedomosti reported…
Russia finance minister says economy whitening plan yields 34 bln rouble budget boost
Finance Minister Anton Siluanov said the government's plan to whiten the economy is producing results, and that the National System for Confirmation of Expectations of Goods Supply (SPOT) brought the budget about 34 billion roubles in addit…