Economy

The Emirates Gold Bullion Committee has reviewed the action plan envisaged in the second stage of establishing a comprehensive database for all key players in the gold sector in addition to the technical requirements needed for launching a federal platform for gold trading. This came at the committee’s third meeting …

The Governor of the Central Bank of the UAE (CBUAE) has appointed Ali Faisal Ba’Alawi as Head of the UAE Financial Intelligence Unit (FIU). This appointment represents the next step in the implementation of the UAE’s National AML/CFT Strategy and National Action Plan, the programme of reforms designed to strengthen …

Dubai’s non-oil foreign trade strongly rebounded from the challenges posed by the global economic repercussions of COVID-19 and the suspension of business activity by countries across the world in the first half of last year to record high growth in 2020. Boosted by its resilience to global headwinds, as well …

Headed by Mansour bin Zayed: • The Central Bank Board of Directors decided to extend the period of zero-cost facilities at the cost of AED 50 billion available for the use of banks and financing companies until the end of 2021, with these facilities being included in the recovery program …

Shareholders of Abu Dhabi Islamic Bank (ADIB) have approved the distribution of a cash dividend of AED20.58 fils per share, representing 46.6 percent of net profits for the fiscal year ending 31st December, 2020, as well as the Board of Directors Report, the Auditors Report and Financial Statements for the …

The UAE Sunday announced $3 billion investment in Iraq in a fresh bid to strengthen the economic and investment relations between the two fraternal nations. The new investments are aimed to tap new prospects of partnerships between the two countries and accelerating socio-economic and developmental growth in support of the …

In recent years, the UAE has progressed in turning waste from an environmental burden into an economic resource, through launching initiatives that support the waste management industry. Waste management is a key challenge facing the UAE, as its population, economic growth and increasing levels of income, among other factors, have …

The real estate and properties transactions valued at 7.1 billion in total during the week ending 01 April 2021, according to Dubai Land Department (DLD). The DLD weekly real estate report said the sum of transactions was 1,746, 103 plots were sold for AED 722.02 million, 1,116 apartments and villas …

UAE financial markets on Tuesday posted decent gains of around AED15.5.5 billion in market cap, driven by the realty and banking blue chips amid increased transactions that amounted to AED1.16 bn. The upbeat sentiments saw ADX closing higher around 1.5 pct than the last session hitting 5,900 pts, and Dubai’s …

The Abu Dhabi National Oil Company (ADNOC) and Intercontinental Exchange (ICE) today, officially celebrated the start of trading of the United Arab Emirate’s (UAE) flagship crude oil, Murban, as a Futures contract on the new ICE Futures Abu Dhabi (IFAD) commodities exchange. During a high-profile launch event at Abu Dhabi …