Sheikh Mohammed bin Rashid, Prime Minister and Ruler of Dubai, chaired the first Cabinet meeting of the year at Abu Dhabi's Qasr Al Watan on Thursday.
The Cabinet reviewed the progress made in 2024, with Sheikh Mohammed describing it as the “best economic and developmental year for the UAE since its establishment”.
Sheikh Mohammed said the country “strengthened its global presence” and signed more than 140 international agreements in the fields of economy, sustainability, clean energy, technology, artificial intelligence, security, defence and international humanitarian work.
He also praised Emirati innovation, noting that UAE nationals launched 25,000 small and medium-sized companies while the number of citizens in the private sector “increased by 350 per cent, reaching 131,000 citizens for the first time”.
Modernisation
In 2024, the government completed a three-year project to update all legislation issued since the formation of the country, Sheikh Mohammed said.
“The number of new companies in 2024 jumped to 200,000, and our foreign trade exceeded Dh2.8 trillion for the first time,” he wrote on X. “Total foreign direct investment is expected to reach Dh130 billion for the first time, and the value of our industrial exports is also Dh190 billion for the first time.”
The government also launched more than 750 national projects and initiatives to “support the development process and attract the best competencies, talents and investments” while the Cabinet issued 1,300 decisions to create the “best regulatory environment that supports the country’s rapid growth over the next two decades”.
Looking to the future
Sheikh Mohammed also noted that the nation’s tourism industry is booming, with 150 million passengers travelling through UAE airports in 2024, and tourist facilities receiving more than 30 million guests.
Concluding the meeting, the Cabinet pledged to “continue the approach of development, openness, and continuous modernisation in order to ensure the best environment for business, and the best life for people”.
“What is coming to us in 2025 will be more beautiful, greater and better,” Sheikh Mohammed said.
Landmark year
In 2024, the Cabinet issued more than 1,300 resolutions over 22 meetings, with the federal government allocating around Dh70 billion to implement almost 750 national projects and initiatives.
National identity was prioritised, including the approval of a federal cultural heritage law and the announcement of a National Policy for the Preservation of Modern Architectural Heritage. Through the Sheikh Zayed Housing Programme, more than 5,600 houses, with a total value of Dh4 billion, were approved for Emirati families.
The UAE joined the international Lunar Gateway space station project, alongside the US, Japan, Canada and the European Union. It also became the first Arab nation with a permanent polar research base.
The country enacting 87 policies, initiatives and regulations devoted to sustainability, including the Plant the Emirates national programme and a federal law on the reduction of climate change effects.
More than 2,500 officials from federal, local and private sector organisations, across 215 specialised national teams, issued and updated over 47 federal laws and more than 130 regulatory resolutions.
Comprehensive Economic Partnership Agreements were also agreed with 12 nations in 2024, meaning the UAE has now reached 24 in total, with 15 signed and 9 to be announced soon.
Cause for optimism
Local economic development departments and free zones issued more than 200,000 economic licences in 2024. The UAE's unified economic register now lists nearly 1.1 million registered businesses. The industrial sector contributed more than an estimated Dh210 billion to the gross domestic product, with exports exceeding Dh190 billion.
The UAE's GDP is projected to exceed Dh1.7 trillion for the first time in 2025, with foreign trade surpassing Dh2.8 trillion. Non-oil exports are expected to exceed Dh540 billion, imports more than Dh1.6 trillion, and re-exports over Dh700 billion.
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
UAE currency: the story behind the money in your pockets
U19 WORLD CUP, WEST INDIES
UAE group fixtures (all in St Kitts)
- Saturday 15 January: UAE beat Canada by 49 runs
- Thursday 20 January: v England
- Saturday 22 January: v Bangladesh
UAE squad:
Alishan Sharafu (captain), Shival Bawa, Jash Giyanani, Sailles
Jaishankar, Nilansh Keswani, Aayan Khan, Punya Mehra, Ali Naseer, Ronak Panoly,
Dhruv Parashar, Vinayak Raghavan, Soorya Sathish, Aryansh Sharma, Adithya
Shetty, Kai Smith
Conflict, drought, famine
Estimates of the number of deaths caused by the famine range from 400,000 to 1 million, according to a document prepared for the UK House of Lords in 2024.
It has been claimed that the policies of the Ethiopian government, which took control after deposing Emperor Haile Selassie in a military-led revolution in 1974, contributed to the scale of the famine.
Dr Miriam Bradley, senior lecturer in humanitarian studies at the University of Manchester, has argued that, by the early 1980s, “several government policies combined to cause, rather than prevent, a famine which lasted from 1983 to 1985. Mengistu’s government imposed Stalinist-model agricultural policies involving forced collectivisation and villagisation [relocation of communities into planned villages].
The West became aware of the catastrophe through a series of BBC News reports by journalist Michael Buerk in October 1984 describing a “biblical famine” and containing graphic images of thousands of people, including children, facing starvation.
Band Aid
Bob Geldof, singer with the Irish rock group The Boomtown Rats, formed Band Aid in response to the horrific images shown in the news broadcasts.
With Midge Ure of the band Ultravox, he wrote the hit charity single Do They Know it’s Christmas in December 1984, featuring a string of high-profile musicians.
Following the single’s success, the idea to stage a rock concert evolved.
Live Aid was a series of simultaneous concerts that took place at Wembley Stadium in London, John F Kennedy Stadium in Philadelphia, the US, and at various other venues across the world.
The combined event was broadcast to an estimated worldwide audience of 1.5 billion.
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
Tips to stay safe during hot weather
- Stay hydrated: Drink plenty of fluids, especially water. Avoid alcohol and caffeine, which can increase dehydration.
- Seek cool environments: Use air conditioning, fans, or visit community spaces with climate control.
- Limit outdoor activities: Avoid strenuous activity during peak heat. If outside, seek shade and wear a wide-brimmed hat.
- Dress appropriately: Wear lightweight, loose and light-coloured clothing to facilitate heat loss.
- Check on vulnerable people: Regularly check in on elderly neighbours, young children and those with health conditions.
- Home adaptations: Use blinds or curtains to block sunlight, avoid using ovens or stoves, and ventilate living spaces during cooler hours.
- Recognise heat illness: Learn the signs of heat exhaustion and heat stroke (dizziness, confusion, rapid pulse, nausea), and seek medical attention if symptoms occur.
Citadel: Honey Bunny first episode
Directors: Raj & DK
Stars: Varun Dhawan, Samantha Ruth Prabhu, Kashvi Majmundar, Kay Kay Menon
Rating: 4/5
Founders: Ines Mena, Claudia Ribas, Simona Agolini, Nourhan Hassan and Therese Hundt
Date started: January 2017, app launched November 2017
Based: Dubai, UAE
Sector: Private/Retail/Leisure
Number of Employees: 18 employees, including full-time and flexible workers
Funding stage and size: Seed round completed Q4 2019 - $1m raised
Funders: Oman Technology Fund, 500 Startups, Vision Ventures, Seedstars, Mindshift Capital, Delta Partners Ventures, with support from the OQAL Angel Investor Network and UAE Business Angels
UAE currency: the story behind the money in your pockets
UAE currency: the story behind the money in your pockets
Aayan%E2%80%99s%20records
%3Cp%3E%3Cstrong%3EYoungest%20UAE%20men%E2%80%99s%20cricketer%3C%2Fstrong%3E%3Cbr%3EWhen%20he%20debuted%20against%20Bangladesh%20aged%2016%20years%20and%20314%20days%2C%20he%20became%20the%20youngest%20ever%20to%20play%20for%20the%20men%E2%80%99s%20senior%20team.%20He%20broke%20the%20record%20set%20by%20his%20World%20Cup%20squad-mate%2C%20Alishan%20Sharafu%2C%20of%2017%20years%20and%2044%20days.%3Cbr%3E%20%3Cbr%3E%3Cstrong%3EYoungest%20wicket-taker%3C%2Fstrong%3E%3Cbr%3EAfter%20taking%20the%20wicket%20of%20Bangladesh%E2%80%99s%20Litton%20Das%20on%20debut%20in%20Dubai%2C%20Aayan%20became%20the%20youngest%20male%20cricketer%20to%20take%20a%20wicket%20against%20a%20Full%20Member%20nation%20in%20a%20T20%20international.%3Cbr%3E%20%3Cbr%3E%3Cstrong%3EYoungest%20in%20T20%20World%20Cup%20history%3F%3C%2Fstrong%3E%3Cbr%3EAayan%20does%20not%20turn%2017%20until%20November%2015%20%E2%80%93%20which%20is%20two%20days%20after%20the%20T20%20World%20Cup%20final%20at%20the%20MCG.%20If%20he%20does%20play%20in%20the%20competition%2C%20he%20will%20be%20its%20youngest%20ever%20player.%20Pakistan%E2%80%99s%20Mohammed%20Amir%2C%20who%20was%2017%20years%20and%2055%20days%20when%20he%20played%20in%202009%2C%20currently%20holds%20the%20record.%3C%2Fp%3E%0A
