Economy

National banks boosted their investments in local stock markets by AED4.4 billion over 12 months, according to the latest statistics from the Central Bank of the UAE (CBUAE). According to Central Bank statistics, national banks raised their equity investments to AED16.1 billion at the end of May, a year-on-year (YoY) …

Fuel prices for the month of September 2024: Super 98: Before: 3.05 AED/L After: 2.90 AED/L Special 95: Before: 2.93 AED/L After: 2.78 AED/L Diesel: Before: 2.95 AED/L After: 2.78 AED/L

Credit facilities provided by the UAE national banks to the private sector reached AED49.5 billion during the first five months of 2024, raising the cumulative total to AED1.182 trillion at the end of May, up from AED1.132 trillion at the end of December 2023, reflecting a growth of 4.5 percent, …

Credit facilities provided by the UAE national banks to the business and industrial sectors amounted to AED25.7 billion during the first five months of 2024, according to the latest figures released by the Central Bank of the United Arab Emirates (CBUAE). The apex bank’s figures showed that the two sectors …

The Central Bank of the UAE (CBUAE) has decided to maintain the Base Rate applicable to the Overnight Deposit Facility (ODF) at 5.40%. This decision was taken following the US Federal Reserve’s announcement today to keep the Interest Rate on Reserve Balances (IORB) unchanged. The CBUAE has also decided to …

Fuel prices for the month of August 2024: Super 98: Before: 2.99 AED/L After: 3.05 AED/L Special 95: Before: 2.88 AED/L After: 2.93 AED/L Diesel: Before: 2.89 AED/L After: 2.95 AED/L

The Central Bank of the UAE (CBUAE) has revoked the licence of Galaxy Insurance Broker (Galaxy), an insurance broker operating in the UAE, and struck its name off the Register, pursuant to Article 22(2) of the Board of Directors Resolution No. 15 of 2013 Concerning Insurance Brokerage Regulations. The administrative …

Fuel prices for the month of July 2024: Super 98: Before: 3.14 AED/L After: 2.99 AED/L Special 95: Before: 3.02 AED/L After: 2.88 AED/L Diesel: Before: 2.88AED/L After: 2.89 AED/L

 The Central Bank of the UAE (CBUAE) announced that the UAE insurance sector continued to grow in Q1 2024, reflected by the increase in gross written premiums. In its Quarterly Economic Review for June 2024, CBUAE said that the number of licensed insurance companies in the UAE remained at 60, …

Savings deposits in the UAE’s banking sector, excluding interbank deposits, attracted about AED13.8 billion during the first quarter of this year, according to the latest statistics from the Central Bank of the UAE (CBUAE). The apex bank’s statistics showed that savings deposits in the banking sector reached AED286.67 billion at …