Economy

ADNOC Distribution today reported that its Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) stood at AED2.3 billion, with a net profit of AED1.7 billion for the first nine months of 2021. For the third quarter, EBITDA was AED737 million with a net profit of AED529 million. The company continues …

The real estate sector has shown significant growth during Q3 of 2021, with 16,781 transactions worth AED5.7 billion by the end of September, according to a report issued by Sharjah Real Estate Registration Department. These numbers marked a growth rate of 22.7 percent compared to the same period last year, …

Fujairah Police: The death of a 65-year-old citizen after he was swept away by floods during his attempt to cross the Sidr Valley yesterday afternoon. Therefore, we urge the public to exercise caution and to stay away from the valleys in order to preserve the safety of everyone.

H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister, Minister of Finance, and Head of the Securities and Exchange Higher Committee today announced the appointment of the new board of directors of the Dubai Financial Market (DFM), chaired by Helal Saeed Al Marri. …

Dubai SME has extended AED75.6 million in financial facilities to the Global Village under an agreement to support Emirati business initiatives. The agreement, signed for the 26th season of Global Village, which runs until 10th of April 2022, aims to provide emerging national projects with an exclusive space in one …

As part of its efforts to enhance service standards provided by government entities, and to provide new and advanced electronic payment solutions to keep pace with the digital transformation in the financial services sector, the Ministry of Finance and the Central Bank of the UAE (CBUAE) today signed a memorandum …

The Ministry of Community Development has confirmed that Federal Law No. 3 of 2021 on the regulations of fundraising prohibits a natural person from establishing, organizing or performing any act with the aim of collecting or accepting fundraising amounts from the public by any means in line with the regulations …

The Central Bank of the UAE (CBUAE) has announced the establishment of the CBUAE Networking and Cyber Security Operations Centre to enhance the protection and security of the financial system’s critical infrastructure in the UAE against cyber-attacks. Situated in CBUAE’s Abu Dhabi headquarters, the Centre will be the leading security …

The Central Bank of the UAE (CBUAE) announced today that new amendments to the Commercial Transactions Law regarding decriminalisation of cheques, and amendments relating to partial payment of the cheque, and toughen administrative penalties for issuing cheques without funds, in accordance with Decree Federal Law No (14) of 2020, which …

As part of implementing the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to enhance the emirate’s economic attractiveness and attract quality investments, H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and …