Economy

Abu Dhabi bourse today retreated 0.65 percent to 8,409 pts, while Dubai Financial Market edged up 0.79 pct to 3,216 pts driven by the real estate and banking blue chips. DFM-listed Emaar Properties climbed 0.82 pct; Emaar Development 0.45 pct; Union Properties 0.31 pct; and Deyaar Development 0.02 pct. Emirates …

The price of OPEC basket of thirteen crudes stood at US$78.00 a barrel on Monday, 3rd January, compared with US$77.97 the previous Friday, 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), …

 Under the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, has approved 600 housing loans worth a total of AED600 million to …

In his capacity as Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, has approved the Government of Dubai’s general budget for the fiscal cycle of 2022-2024, with a total expenditure of AED181 billion. His Highness has also approved Law No. …

The Central Bank of the United Arab Emirates (CBUAE) announced the issuance of seven commemorative silver coins in one set to mark the 50th anniversary of the founding of the Union of the UAE Federation, and in honour of the founding fathers, led by the late Sheikh Zayed bin Sultan …

On 13 December 2021, the Central Bank of the UAE (CBUAE) imposed a financial sanction on an exchange house operating in the UAE, pursuant to Article 14 of the Federal Decree Law No. (20) of 2018 on Anti-Money Laundering and Combatting the Financing of Terrorism and Financing of Illegal Organisations …

Dubai saw the completion of 1,685 real estate transactions, valued at AED 7.4 billion, this week. According to the Dubai Land Department report, 177 plots were sold for AED 2.15 billion, while 1,137 apartments and villas were sold for AED 2.8 billion. The top three transactions were a land in …

The Central Bank of the United Arab Emirates (CBUAE) has announced that the new AED50 polymer banknote is an official currency and to be used alongside the paper banknote of the same value, currently in circulation. The new banknote has been distributed to banks and exchange houses, according the CBUAE …

Dubai’s real estate market recorded 246 sales transactions worth AED610.89 million and mortgage deals of AED151.82 million in addition to 10 gift transactions amounting to AED17.58 million Monday, data released by the emirate’s Land Department (DLD) showed. The sales covered 223 villas and apartments worth AED 503.64 million, and 23 …

The Central Bank of the UAE (CBUAE) has developed an enhanced framework to supervise banks’ exposures to the real estate sector. The new standards cover all types of on-balance-sheet loans and investments, and all off-balance-sheet exposures to the real estate sector. They refine definitions, measurement and supervision, facilitating the adoption …