Economy

The Department of Economy and Tourism (DET) in Dubai has issued its first-quarter 2022 report on the business environment. The report developed by the DET’s Business Registration and Licensing (BRL) sector shows that 24,662 new business licenses were issued in Q1 2022, a growth of 58% from Q1 2021, when …

A total 2,012 real estate transactions worth 5.3 billion in total were conducted in Dubai during the week ending 8th April, 2022. According to figures released by the Dubai Land Department, 236 plots were sold for AED 1.07 billion, 1,415 apartments and villas were sold for AED 2.96 billion. The …

 The price of OPEC basket of thirteen crudes stood at US$100.12 a barrel on Thursday, compared with US$106.13 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Zafiro (Equatorial Guinea), Rabi Light …

 The Foreign Direct Investment (FDI) inflows into the UAE recorded a 3.9 percent growth in 2021 compared to 2020 to reach nearly AED 76 billion (US$20.7 billion). As a result, the total FDI balance in the country increased to reach nearly AED 630 billion (US$171.6 billion) by the end of …

Dubai International Financial Centre (DIFC) has issued a consultation paper proposing to amend the DIFC Prescribed Company Regulations. The proposed amendments will enhance the regulatory framework within DIFC, and provide further structuring options for businesses operating in or from the Centre. The key amendments under the Proposed Regulations include consolidating …

Around 76.5% companies registered growth in their businesses during Expo 2020, while 73.5% managed to build new business relations during the world’s greatest show, according to a report commissioned by Dubai Chamber of Commerce. In terms of services provided by Dubai Chamber during the event, 70.6% of respondents to the …

Super 98: Before: 3.23 AED/LAfter : 3.74 AED/L Special 95: Before: 3.12 AED/LAfter : 3.62 AED/L Diesel: Before: 3.19 AED/LAfter : 4.02 AED/L

The OPEC and non-OPEC oil-producing countries (OPEC+) have decided to adjust upward the monthly overall production of oil by 432,000 barrels per day (bpd) for the month of May 2022. This came during the 27th OPEC and non-OPEC Ministerial Meeting held via videoconference on Thursday. In a statement issued today, …

The real estate and properties transactions valued at AED6.8 billion in total during the week ending 25 March 2022, according to Dubai Land Department (DLD). The DLD weekly real estate report said the sum of transactions was 2,461. 330 plots were sold for AED1.65 billion, 1,653 apartments and villas were …

Dubai’s real estate market recorded 474 sales transactions worth AED1.52 billion and mortgage deals of AED441.56 million, in addition to 11 gift transactions amounting to AED27.4 million Tuesday, data released by the emirate’s Land Department (DLD) showed. The sales included 376 villas and apartments worth AED849.54 million, and 98 land …