Economy

The Ministry of Economy has issued cabinet resolution No.72 of 2022, which imposes a moratorium on the export and re-export of wheat and wheat flour originating from the Republic of India, including free zones, for a period of four months starting from 13th May, 2022. The resolution applies to all …

Dubai real estate market recorded 293 sales transactions worth AED 757.33 million, including 73 mortgage deals of AED135.94 million, and 9 gift deals amounting to AED16.28 million Wednesday, data released by Dubai’s Land Department (DLD) showed. The sales included 264 villas and apartments worth AED507.79 million, and 29 land plots …

The Jordanian Government, represented by the Ministry of Energy and Mineral Resources, signed a Memorandum of Understanding (MoU) to explore gold in Abu Khashaba Canyon with Emirati strategic partner Earth Global, and Solvest Inc. The agreement comes in line with the Jordanian government’s efforts to explore underground resources and support …

Fuel prices for the month of June 2022: Super 98:Before: 3.66 AED/LAfter: 4.15 AED/L Special 95:Before: 3.55 AED/LAfter: 4.03 AED/L Diesel:Before: 4.08 AED/LAfter: 4.14 AED/L

The UAE’s non-oil foreign trade in the first quarter (Q1) of 2022 was close to AED500 billion for the first time in the country’s history, totalling AED499.7 billion, a growth of 20.5 percent compared to AED414.6 billion recorded in the same period of 2021, according to the Federal Competitiveness and …

Dubai real estate market recorded 552 sales transactions worth AED1.42 billion and 78 mortgage deals of AED 210.62 million, in addition to 20 gift deals amounting to AED 120.57 million Monday, data released by Dubai’s Land Department (DLD) showed. The sales included 427 villas and apartments worth AED 878.57 million, …

Abu Dhabi Securities Exchange (ADX) has announced that it is facilitating access to the exchange for investors registered on other UAE financial markets. The ADX initiative applies to investors with investor numbers issued by other exchanges licenced by the Securities and Commodities Authority (SCA). The initiative, which promotes increased participation …

H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, revealed that Dubai has achieved the top ranking globally in attracting foreign direct investment (FDI) in 2021, with a record number of 418 greenfield FDI projects. Sheikh Hamdan expressed his gratitude …

The Central Bank of the UAE (CBUAE) has decided to raise the Base Rate applicable to the Overnight Deposit Facility (ODF) by 50 basis points, effective from Thursday, 05 May 2022. This decision was taken following the US Federal Reserve Board’s announcement on 04 May 2022 to increase the Interest …

European stocks rallied on Tuesday following a series of upbeat earnings reports as banks rose on government bond yields hitting fresh highs in anticipation of quicker interest rate hikes. The pan-European STOXX 600 index edged higher 0.6% by 0716 GMT, with banks up 1.4% to lead sectoral gains. Wall Street …