Economy

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 …

The price of OPEC basket of thirteen crudes stood at $74.66 a barrel on Thursday,16th December, compared with $73.12 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Zafiro (Equatorial Guinea), …

The Central Bank of the UAE (CBUAE) has issued commemorative gold and silver coins to celebrate the 50th anniversary of the establishment of the Sharjah Chamber of Commerce and Industry (SCCI). By issuing these commemorative coins, the CBUAE and SCCI aim to highlight the achievements and successes of the Chamber …

The price of OPEC basket of thirteen crudes stood at US$73.12 a barrel on Wednesday, 15th December, compared with US$74.28 the previous day, 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), …

The Central Bank of the UAE (CBUAE) has imposed administrative measures and a subsequent financial sanction on a bank operating in the UAE, pursuant to Article 14 of the Federal Decree Law No. (20) of 2018 on Anti Money Laundering and Combating the Financing of Terrorism and Illegal Organisations (AML/CFT), …

Dubai Financial Market (DFM) today announced its new trading hours that will come into effect as of Monday, 3rd of January 2022, with a five hours trading session between 10 am and 3 pm from Monday to Friday. The Monday to Friday trading window align with local and international financial …

The UAE leaders witnessed on Tuesday the launch of the third issue of the national currency of AED50, in line with the UAE’s celebrations of the Golden Jubilee of its union, which was established on 2 December 1971. The new issue is the first banknote made of polymer material to …

The total value of the UAE’s foreign trade in the past five decades amounted to some US$9.32 trillion (AED34.23 trillion), according to the United Nations Conference on Trade and Development (UNCTAD). Additionally, the country’s trade balance from 1971 to 2020 recorded a surplus of nearly $1.3 trillion (AED4.76 trillion). The …

Fuel prices for the month of December 2021: Super 98: Before: 2.80 AED/L After : 2.77 AED/L Special 95: Before: 2.69 AED/L After : 2.66 AED/L Diesel: Before: 2.81 AED/L After : 2.77 AED/L

Dubai saw the completion of 1,850 real estate transactions at over AED7 billion during this week, according to the Dubai Land Department (DLD). The DLD weekly report said 166 plots were sold for AED1.01 billion, along with 1684 apartments and villas for AED 3.83 billion. The top land transactions were …