Economy

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 …

The Central Bank of the UAE (CBUAE) has announced that the new AED5 and AED10 banknotes have entered circulation in the UAE following the distribution to all banks operating in the country. To promote public awareness of the new denominations and increase their circulation, the CBUAE – in collaboration with …

Fuel prices for the month of May 2022: Super 98: Before: 3.74 AED/L After: 3.66 AED/L Special 95: Before: 3.62 AED/L After: 3.55 AED/L Diesel: Before: 4.02 AED/L After: 4.0 AED/L08:54

About 2,145 real estate and property transactions worth AED6.3 billion were conducted in Dubai during the week ending 22nd April 2022, according to the Land Department of the Government of Dubai. Two hundred and twenty-five plots were sold for AED1.12 billion, and 1,436 apartments and villas were sold for AED3.2 …

ADNOC Drilling Company PJSC (ADNOC Drilling or the Company) (ADX symbol: ADNOCDRILL / ISIN: AEA007301012), announced today that its inaugural Annual General Assembly approved all agenda items in its meeting (AGM) held on Wednesday, 20th April, 2022. Voting on the agenda included approval of the Board’s recommendation to distribute a …

The UAE Central Bank announced that the Money Supply aggregate M1 increased by 2.3%, from AED 686.0 billion at the end of November 2021 to AED 701.9 billion at the end of December 2021. The Money Supply aggregate M2 grew by 3.0%, from AED 1,517.1 billion at the end of …

The Central Bank of the UAE (CBUAE) reported that real non-oil GDP grew by some 7.8 percent in the fourth quarter of 2021, which it attributed to the easing of business closures and the decline in restrictions on international travel. It also highlighted a 9.3 percent annual increase in Emirati …

 The UAE’s non-oil sector contribution to the GDP amounted to 72.3 percent in 2021, up from 71.3 percent in 2020, data by the Federal Competitiveness and Statistics Center, revealed. The hotels & restaurants, wholesale & retail and health & social services sectors contributed 21.3 percent, 14.1 percent and 13.8 percent …

Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, has met with the President of the Republic of Azerbaijan, Ilham Aliyev, at the Azerbaijani capital, Baku. At the beginning of the meeting, Dr. Al Jaber conveyed the greetings of the UAE leadership to the Republic of Azerbaijan, …

The Central Bank of the UAE (CBUAE) and the Bank of Korea (BOK) today renewed the Bilateral Local Currency Swap Agreement, reaffirming their commitment to promote trade and financial cooperation. The agreement was signed by Khaled Mohamed Balama, CBUAE Governor, and Juyeol Lee, Governor of the Bank of Korea. The …