Economy

The Central Bank of the United Arab Emirates (CBUAE) today unveiled the Retail Payment Services and Card Schemes Regulation, the fourth regulation in the enhancement journey as it prepares the UAE for a new era of digital payments. The Regulation is a continuation of the CBUAE’s efforts to foster safety …

Dubai Land Department recorded a total of 1,826 real estate and properties transactions valued at AED5.3 billion during the week ending 15th July, 2021. 128 plots were sold for AED 854.35 million, and 1,218 apartments and villas were sold for AED 2.79 billion. The top three transactions were a land …

The Central Bank of the UAE announced that the Money Supply aggregate M1 increased by 0.3%, from AED 644.4 billion at the end of April 2021 to AED 646.4 billion at the end of May 2021, according to monetary and banking developments for May 2021 The Money Supply aggregate M2 …

The European economy is forecast to rebound faster than previously expected, as activity in the first quarter of the year exceeded expectations and the improved health situation prompted a swifter easing of pandemic control restrictions in the second quarter. According to the Summer 2021 interim Economic Forecast, the economy in …

The Dubai free zone DMCC has welcomed 1,230 new member companies in the first half of 2021, the best 6-month performance since 2013. This builds on free zone’s strong performance in 2020, during which it attracted 2,025 new businesses supported by DMCC’s relief packages offered during the global pandemic. “We …

ENOC Group has renewed its agreement with Meisheng Investment Development Co. Ltd for another five years, for the exclusive supply and distribution of ENOC Lubricant products in China. The agreement enables ENOC to achieve its ambitious plans of distributing more than 20 million litres of products over the next five …

A total of 2,020 real estate and properties transactions were valued at AED 4.5 billion in total during the week ending 01 July 2021, according to Dubai Land Department (DLD). The DLD weekly report said 119 plots were sold for AED 845.1 million, 1,321 apartments and villas were sold for …

Fuel prices for the month of July 2021: Super 98: Before: 2.38 AED/L After: 2.47 AED/L Special 95: Before: 2.27 AED/L After: 2.35 AED/L Diesel: Before: 2.30 AED/L After: 2.42 AED/L

The UAE’s entrepot trade amounted to AED467.5 bn in 2020 despite the ongoing economic slowdown in direct result of the COVID-19 pandemic, according to the Federal Competitiveness and Statistics Centre (FCSC). The re-export market accounts for 46.5 percent of the total re-exports and exports of commodities and services in 2020, …

China Export and Credit Insurance Corporation, SINOSURE, has opened it regional office at the Dubai International Financial Centre (DIFC), the first in the Middle East. SINOSURE is a state-funded and policy-oriented insurance company established to promote China’s foreign economic, trade development and cooperation on a non-profit basis. It had accumulatively …