Economy

The Ministry of Finance (MoF) has announced the launch of the updated version of the e-refund system for service fees and transactions for federal entities. The updated version provides new features that facilitate and expedite the procedures of refunding fees for all federal entities. Saeed Rashid Al Yateem, Assistant Under-Secretary …

Fuel prices for the month of April 2021: Super 98: Before : 2.12 AED/L After : 2.29 AED/L Special 95: Before : 2.01 AED/L After : 2.17 AED/L Diesel: Before : 2.15 AED/L After : 2.22 AED/L

The UAE was ranked among the 20 leading countries in 16 global competitiveness indexes related to foreign trade in 2020, marking a new achievement and consolidating the country’s status as a key centre of international trade. The Federal Competitiveness and Statistics Centre documented the international references confirming these achievements, most …

Abdullah Sultan Al Owais, Chairman of the Sharjah Chamber, has received Avni Arifi, Ambassador of Kosovo to the UAE, to discuss means of strengthening the economic, commercial, and investment relations between the UAE and Kosovo. Held in the presence of Raghda Hamad Taryam, Board Member, Mohammed Ahmed Amin Al Awadi, …

In implementation of the directives of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, the UAE has announced that it will invest US$10 billion with the Indonesia’s sovereign wealth fund – Indonesia Investment Authority. Investments will …

The Central Bank of the UAE’s statistics revealed a net increase in the international reserves of the Emirati banking system of AED12.6 billion over three months, from November 2020 to January 2021. With this continued rise, the cumulative balance of the country’s international reserves amounted to over AED519 billion at …

Dubai’s real estate market recorded 3,787 sales transactions worth AED7.43 billion in February 2021, a 13.8 percent increase from January 2021 in terms of volume and 8.9 percent rise in terms of value, according to the 12th edition of Mo’asher, Dubai’s official sales price index that was launched by Dubai …

The Central Bank of the UAE projects real GDP to recover to positive growth of 2.5% in 2021, with non-oil GDP growing by 3.6% and oil GDP remaining flat based on the OPEC+ production schedule and announcements. In a report issued today, the apex bank said real non-oil GDP growth …

The Central Bank of the UAE (CBUAE) has issued two new regulations that apply to payment systems operating in the UAE and payment systems that offer clearing or settlement in Dirham outside the UAE. The Large-Value Payment Systems (LVPS) Regulation and the Retail Payment Systems (RPS) Regulation aim to promote …

Upbeat sentiments continued for the third day straight at UAE financial markets amid increased cash flows that saw the twin bourses of Abu Dhabi and Dubai gaining a combined AED17.4 bn since Sunday. The two bourses Tuesday posted gains of around AED6.6 billion in market cap, with ADX closing higher …