Abu Dhabi Implements New Measures To Shift Away From Oil Dependency

by THEFUTURE.TEAM

December 5, 2024

Abu Dhabi, the capital of the United Arab Emirates (UAE), has introduced significant measures to simplify business operations and support economic diversification as the region looks beyond oil. With over 90% of the UAE’s oil reserves concentrated in Abu Dhabi, the emirate is intensifying efforts to foster growth in non-oil sectors such as tourism, logistics, manufacturing, and industry.

Centralised Business Registry

One of the key initiatives unveiled is the Abu Dhabi Registration Authority (ADRA), a centralized platform for business registration. This authority will operate under the Abu Dhabi Department of Economic Development (ADDED), serving as a single point for registration while ensuring compliance with UAE and international regulations. Ahmed Jasim Al Zaabi, chairman of ADDED, highlighted during Abu Dhabi Business Week that streamlining these processes aims to make business operations more accessible and efficient.

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Economic Growth Beyond Oil

Abu Dhabi’s economy expanded by 4.1% in Q2 2024, driven by robust growth in non-oil GDP, which surged by 6.6%. This growth was powered by advancements in construction, manufacturing, and finance. However, as global efforts to reduce reliance on fossil fuels gain momentum, Abu Dhabi is accelerating its pivot toward sustainable economic models.

Supporting the Private Sector

The emirate also announced a strategic roadmap for the Abu Dhabi Chamber of Commerce and Industry to bolster private sector growth. Additionally, a Family Business Council was established to support family-owned enterprises, recognizing their critical role in the economy.

Regional Competition

Abu Dhabi’s diversification push comes amidst growing competition, particularly from neighbouring Saudi Arabia, which is undergoing rapid economic and social transformation. Both nations are racing to attract foreign investment and establish themselves as leading hubs in the Middle East.

These initiatives underline Abu Dhabi’s commitment to transitioning toward a diversified and sustainable economy while retaining its competitive edge in an evolving global landscape.

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Bitcoin Surges 23% In A Week As Investor Optimism Returns

by News Editor

August 21, 2026

Bitcoin was on track for a weekly gain of around 23% on Friday as a series of positive macroeconomic and policy developments boosted investor sentiment.

The cryptocurrency was trading about 6% higher at roughly $77,000, up from around $62,800 at the start of the week. Crypto-related stocks also rallied, with Coinbase and Circle gaining more than 9%, while Strategy rose 7%.

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Macro Factors Fuel Rally

Bitcoin’s latest surge began Wednesday after Treasury yields fell sharply following a major intervention by the U.S. Treasury in the bond market. Lower yields eased pressure on risk assets and helped trigger a broader move into cryptocurrencies.

The rally was further amplified by a major short squeeze. Around $2.7 billion in crypto short positions were liquidated, according to CoinGlass.

Max Stuedlein, head of Partnerships at Sygnum APAC, said the move reflected an alignment of macroeconomic and policy catalysts, including the Treasury’s decision to increase buybacks of longer-dated government debt.

Clarity Act Boosts Sentiment

Investor confidence improved further on Thursday as the White House and crypto industry leaders made a final push to advance the Clarity Act in the coming weeks.

The legislation is widely viewed as a potential catalyst for the crypto market, although its chances of passing remain relatively limited.

Despite the rally, bitcoin remains well below its 2026 high of $94,820 reached in January and its all-time high of $126,198, set last October.

Analysts See More Volatility Ahead

Lucy Gazmararian, founder and managing partner at Token Bay Capital, said the crypto market may be approaching the end of its bear cycle.

She expects bitcoin could experience one more decline of around 20% before the market turns, pointing to historical cycles and the recent liquidation of heavily leveraged short positions.

Gazmararian also described bitcoin as a long-term hedge against monetary debasement, while warning that its short-term price remains highly volatile and driven by market cycles.

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