Industry News

Dubai’s Economy Shrinks 2.3% in First Half of 2026 Amid Regional Conflict

Dubai's real gross domestic product contracted 2.3% year on year in the first half of 2026 to approximately AED 473 billion, official statistics show. The decline was led by drops in wholesale and retail trade as well as transport and storage, while financial services and healthcare posted gains. Oxford Economics projected that a complete recovery in tourism and logistics will depend on shipping and aviation normalising next year.

China–UAE News

Hermès Q3 Sales Slow as China Weakness and Middle East Disruption Hit Demand

Hermès International SCA reported slowing third-quarter sales as revenue flatlined in its key market region including China, missing analyst expectations. The luxury sector's anticipated recovery has been hampered by domestic headwinds in China alongside conflict in the Middle East that disrupted shopping hubs such as Dubai. Hermès shares fell as much as 9% in Paris, marking a 41% decline year-to-date.

China–UAE News

Dubai CommerCity and Hong Kong-Shenzhen Innovation Park Partner on Technology Collaboration

Dubai CommerCity has formed a collaboration with Hong Kong-Shenzhen Innovation and Technology Park Limited to enhance bilateral cooperation across technology and digital commerce. The agreement follows engagements at the Dubai Business Forum held in Shenzhen, which brought together over 800 Chinese business leaders and a Dubai delegation. The partnership seeks to support enterprise growth, cross-border innovation, and connectivity between Dubai and the Greater Bay Area.

Industry News

Masdar to Commission $250 Million Solar and Storage Project in Uzbekistan

UAE clean energy developer Masdar plans to commission a 300-megawatt solar plant and 75 MW of energy storage in Uzbekistan's Kashkadarya region next year under a $250 million project. The announcement followed a regional development meeting chaired by Uzbek President Shavkat Mirziyoyev, which also detailed complementary Chinese manufacturing and waste-to-energy initiatives.