Economy

Dubai Investments on Thursday reported a 47 percent surge in net profits to AED302 million for the six months ended 30th June 2021 as compared to AED205 million for the same period last year. The increase in net profit for the period is mainly due to enhanced performance of the …

The Commercial Compliance and Consumer Protection (CCCP) Sector in Dubai Economy has imposed fines on 148 companies in the emirate that did not register their Beneficial Owner data by 30th June 2021 as was required by law. Violators will have to pay a fine of AED 15,000 each. The disciplinary …

The Abu Dhabi Department of Economic Development (ADDED) is proud to announce that the Abu Dhabi Government has achieved a reduction of 71% in requirements to start a new commercial business, making it significantly easier to set up a new venture in Abu Dhabi across all types of commercial activities. …

Trade in medical goods registered growth of 16.3 percent in 2020 – compared with 4.7 percent growth in 2019 when the COVID-19 pandemic was just starting, according to the World Trade Statistical Review 2021 issued by the World Trade Organisation (WTO). Exports of medical products, including medicines, medical equipment and …

Fuel prices for the month of August 2021: Super 98: Before: 2.47 AED/L After : 2.58 AED/L Special 95: Before: 2.35 AED/L After : 2.47 AED/L Diesel: Before: 2.42 AED/L After : 2.45 AED/L

The Central Bank of the UAE (CBUAE) has decided to maintain the Base Rate applicable to the Overnight Deposit Facility (ODF) at 15 basis points, effective from Thursday, 29th July 2021. This decision was taken following the US Federal Reserve Board’s announcement on 28th July 2021, to set the Interest …

The UAE has welcomed the statement issued by the Organisation for Economic Cooperation and Development and the G20 (G20/OECD) on the Inclusive Framework on Base Erosion and Profit Shifting (Inclusive Framework) with regards to laying the building blocks for a new global tax framework on 1st July 2021. The UAE …

Three leading technology companies are growing their presence in Abu Dhabi, as the emirate doubles down on its focus to support the growth of innovation-focused companies. The Abu Dhabi Investment Office (ADIO) announced on Monday individual partnerships with Callsign, Lyve and RIZEK to provide the three companies financial and non-financial …

Dubai’s real estate sector recorded 6,388 sales transactions in June 2021, worth AED 14.79 billion, according to the 16th edition of Mo’asher, Dubai’s official sales price index. This was the highest value of sales in eight years, noted officials. The sales transactions in June 2021 were 44.33 percent higher, in …

Mattar Mohammed Al Tayer, Director-General, Chairman of the Board of Executive Directors of the Roads and Transport Authority (RTA), revealed that the RTA’s precautionary measures and initiatives applied to the scheduling and operation of public buses, marine transit means, and taxis, had accelerated the recovery from the COVID-19 pandemic. Such …