Economy

 The Central Bank of the United Arab Emirates (CBUAE) participated virtually in the sixth meeting of the Preparatory Committee of the Gulf Cooperation Council (GCC) Central Bank Governors’ Committee, held today via videoconference to discuss ways to further enhance financial cooperation among GCC countries. The CBUAE delegation was led by …

Salik Company PJSC, the exclusive operator of Dubai’s road toll gates, announced the renewal of its five-year contract with TransCore, a leading US-based tolling company, strengthening the continued strategic partnership between the two parties and supporting the ongoing efficiency and technological development of Dubai’s tolling system. Mattar Al Tayer, Chairman …

Gold held steady on Friday and was poised for a small ‌weekly gain, as attention turned to highly awaited US payrolls data for clues on the Federal Reserve’s next interest rate decision. Spot gold held its ground at $4,477.10 per ounce, as of 02:11 GMT. US gold futures for December …

Gold fell on Wednesday to its ‌lowest in more than three weeks. Spot gold was down 0.6 percent at $4,304.01 per ounce by 00:17 GMT, its lowest since 7th August. US gold futures for December delivery fell 1 percent to $4,350.80. Among other metals, spot silver lost 1 percent to …

Dubai Islamic Bank (DIB) has successfully closed its debut US$750 million three-year Senior Unsecured Commodity Murabaha Term Facility, marking an important milestone in the Bank’s funding strategy and further diversifying its sources of institutional funding. The facility represents DIB’s first-ever syndicated Islamic financing transaction and attracted c. US$1.2 billion in …

ADX-listed Alpha Dhabi Holding PJSC (Alpha Dhabi), one of the fastest-growing investment holding companies in the MENA region, has increased its investment in its private credit joint venture, MICAD Credit JV, managed by Mubadala Capital, the global alternative asset manager. Under the revised partnership agreement, Alpha Dhabi will double its …

The UAE Fuel Price Committee has approved fuel prices for September 2026, with petrol prices adjusted by between 5.56 percent and 5.87 percent. The prices were set under the UAE’s monthly fuel pricing mechanism, which tracks movements in global energy prices and reflects changes in the domestic market. The approved …

The Central Bank of the UAE (CBUAE) and the Central Bank of Egypt affirmed their full and continuous cooperation and coordination regarding the continued normal operation of all activities of Banque Misr branches in the United Arab Emirates. The statement came as part of the follow-up on a proposal issued …

The Economic and Social Council of the League of Arab States will hold its 118th regular session at the ministerial level on Thursday at the headquarters of the League’s General Secretariat. The meeting will discuss the completion of the Greater Arab Free Trade Area, developments related to the Arab Customs …

The Central Bank of the UAE reviewed the issued statement of yesterday by the U.S. authorities regarding Proposal of Special Measure Regarding Banque Misr UAE branches, as a Financial Institution Operating Outside of the United States of Primary Money Laundering Concern. The Central Bank would like to emphasise the following: …