The UAE's Minister of Economy and Chairman of the General Civil Aviation Authority (GCAA), on Monday emphasised the aviation sector's critical role in the global economy, noting that it accounts for 12 to 13 per cent of GDP in some countries and supports millions of jobs worldwide.
Speaking on the sidelines of the “ICAO Global Implementation Support Symposium 2025” and the “Global Sustainable Aviation Marketplace” in Abu Dhabi, Abdulla bin Touq Al Marri stated the aviation sector contributes approximately $4.1 trillion to the global economy, directly benefiting individuals, families, and communities by providing job opportunities and promoting economic development.
He also pointed out aviation's essential role in boosting the tourism sector, with 58 per cent of international tourists relying on air travel. The sector’s efficiency also enables businesses to connect with global markets, facilitates tourists' access to destinations, and strengthens companies' ability to reach clients and suppliers worldwide.
Al Marri pointed out that aviation helps bridge the gap between remote and underserved areas and urban centres, improving access to essential services like healthcare and education. It plays a vital role in humanitarian efforts, such as disaster response and medical evacuations, helping overcome geographical challenges.
ADNOC Distribution has reported a net profit growing by 15.6 per cent year-on-year to $579 million in the first nine months, with an EBITDA increase of 12 per cent to $885 million, its strongest performance since listing in 2017.
TECOM Group has announced a 20 per cent revenue growth reaching more than AED 2.1 billion, with a net profit exceeding AED 1.1 billion, marking an 18 per cent year-on-year increase.
The Dubai Financial Market (DFM) has announced its consolidated financial results for the nine months ending September 30, reporting a net profit before tax of AED 930.8 million, an increase of 212 per cent compared to the same period in 2024.
DMCC — Dubai’s leading international business district — has announced plans to create a new Financial Centre that will anchor trade finance, fintech innovation and digital asset solutions across its 26,000-member community.
The Central Bank of the UAE (CBUAE) has decided to cut the Base Rate applicable to the Overnight Deposit Facility (ODF) by 25 basis points, from 4.15 per cent to 3.90 per cent, effective from Thursday, October 30.
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Welcome to Pinoy Bulletin, your go-to source for staying informed about important announcements, exciting group activities, community events, and job opportunities!
Make sure to tune in every weekdays to Tag Gising Na from 5AM - 10 AM for a comprehensive roundup of important updates.