Economy

Reflecting an increased trend in saving behaviour among Emiratis and residents alike, the saving accounts in UAE national banks drew AED9.77 bn during the first four months of 2021, statistics by the Central Bank of the UAE have revealed. The new liquidity brings to AED199 bn the cumulative balance of …

In accordance with its commitment to uphold the highest standards of integrity and transparency, the Central Bank of the UAE (CBUAE) has launched a new whistleblowing portal, an encrypted channel that allows internal and external stakeholders to anonymously raise any concern related to misconduct or policy violations by CBUAE employees, …

Abu Dhabi Islamic Bank (ADIB) has announced it won five categories at the Islamic Finance News (IFN) Awards 2021 ceremony, including Best Islamic Bank in the UAE, Iraq and Egypt. The bank also received the awards for Best Islamic Private Bank and Best Islamic Bank for Treasury Management. Held in …

Ministry of Economy is carrying out an extensive inspection campaign on the establishments of the “Designated Non-Financial Business and Professions” sector and has issued a fine of AED 1.35 million to a gold trade group for violating the provisions of the Anti Money Laundering & Terrorism Financing Law and their …

The value of gold reserves of the Central Bank of the UAE (CBUAE) in April 2021 rose to AED11.56 billion, a growth of 6.8 percent or AED743 million, compared to AED10.817 billion in March 2021. The bank in its latest figures released on Thursday showed steady growth in gold reserves …

Driven by banking and realty blue chips, the UAE stock markets closed in the green Wednesday, with Abu Dhabi’s main index touching 6,626 points, 0.19 percent up, with Dubai Financial Market rising 0.06 percent to 2,839 pts amid increased liquidity of AED1.59 bn in both bourses. In Abu Dhabi Securities …

The UAE was ranked among the top 20 countries in the world during the year 2020 in five indices related to the competitiveness of the tourism sector in the country according to the Federal Competitiveness and Statistics Centre (FCSC). The country’s achievements in the tourism sector included the indexes in …

Fuel prices for the month of June 2021: Super 98: Before: 2.30 AED/L After: 2.38 AED/L Special 95: Before: 2.18 AED/L After: 2.27 AED/L Diesel: Before: 2.17 AED/L After: 2.30 AED/L

The Federal Tax Authority (FTA), has confirmed that Cabinet Decision No. 49 of 2021 on amending some provisions of the Administrative Penalties for Violation of Tax Laws in the UAE, is designed to support tax registrants and help them fulfil their tax obligations, thereby enhancing the State’s competitiveness in the …

Rami Al Qaisi, CEO of RAQ Contracting, stated that the UAE’s investment and legislative environments are highly attractive to investors, who continue to make investments due to the many facilities that the UAE provides to investors, contractors and employers, as well as its advanced infrastructure. The UAE’s flexible laws, which …