Economy

The UAE announced it will establish a US$10 billion investment fund in Turkey. This announcement followed the talks held here today between His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and Recep Tayyip Erdogan, President of …

Abdullah bin Touq Al Marri, Minister of Economy, said the United Arab Emirates has developed positive partnerships with all world countries, specially in areas of economy and development as part of a well thought-out strategy to underpin its economic position and achieve the objectives of the UAE Centennial 2071 Plan. …

The bilateral trade between Israel and Dubai has reached AED2.57 billion (US$700 million) since the Abraham Accords was signed in September 2020, a senior Israeli diplomat told Emirates News Agency (WAM). “We have this huge amount of trade [even though] Israel was closed completely for foreigners, and sometimes for Israelis, …

Under the directives of H.H. Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs, Chairman of the Board of Directors of the Central Bank of the UAE, the Central Bank has issued a commemorative silver coin on the occasion of the “Fiftieth Year” bearing the …

A recent report by the Business Registration and Licensing sector at Dubai’s Department of Economy and Tourism revealed that 55,194 new business licences were issued during the first 10 months of 2021, a growth of 69% compared to the same period in 2020, when 32,626 licenses were issued. The positive …

Setting the scene for an equitable future requires vision, accountability and action, according to energy leaders speaking on the final day of ADIPEC 2021 – the world’s largest and most influential energy industry event. Diversity, equity and inclusion is not achieved by using the same tools and practices repeatedly but …

The Central Bank of the UAE (CBUAE) has issued new guidance on anti-money laundering and combatting the financing of terrorism (AML/CFT) for licensed exchange houses (LEH). The guidance, which comes into effect today, will assist LEH’s understanding of risks and effective implementation of their statutory AML/CFT obligations, and takes Financial …

His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Member of the Abu Dhabi Executive Council, Chairman of the Abu Dhabi Executive Office and Chairman of the Executive Committee of the Board of Directors of the Abu Dhabi National Oil Company (ADNOC), today witnessed the signing of a strategic partnership …

AD Ports Group today announced its financial results for the nine months ended September 30, 2021, reporting revenue growth of 22% year-on-year to AED 2.791 billion (USD 760 million) compared with AED 2.295 billion (USD 625 million) in the same period last year, driven by volume growth, business diversification and …

The Central Bank of the UAE (CBUAE) has issued a communiqué on its joint “mBridge” project with partners from the Bank for International Settlements (BIS), Innovation Hub Centre in Hong Kong, the Hong Kong Monetary Authority (HKMA), the Bank of Thailand (BoT), and the Digital Currency Institute of the People’s …