Economy

ADNOC Distribution has delivered on its promises to customers in 2020 by increasing its service station network and modernizing its ADNOC Oasis convenience stores, offering customers greater convenience, together with a fresh, modern environment to make more out of every visit to an ADNOC Service Station. A total of 64 …

Credit facilities provided by UAE national banks to non-resident clients rose by AED19.7 bn from January to November 2020, statistics by the Central Bank of the United Arab Emirates have shown. The growth brings to AED149 bn the cumulative balance of bank loans to non-residents, which accounts for 8.3 percent …

The UAE hosted the sixth Arab Finance Deputies Meeting, organised by the Arab Monetary Fund (AMF) in cooperation with the UAE Ministry of Finance (MoF). virtually on 20th and 21st January. Younis Haji Al Khoori, Under-Secretary of MoF, headed the UAE delegation which included Abdullah Ahmed Al Obaidly, Director of …

The total number of Gulf and other foreign companies operating in the UAE grew by 3.5 percent to 3209 by December 2020 compared to November same year, according to the UAE’s National Economic Register (NER). The growth is reflective of the successful business continuity and disaster recovery plans adopted by …

Capitalising on its coveted geographical position as a vital re-export point between east and west, the UAE has tapped into new export and re-export markets in 2020, bringing to 230 the country’s total global export markets, as compared to 200 in 2019, according to the Federal Competitiveness and Statistics Centre …

The DED Trader licence, launched by the Business Registration & Licensing (BRL) sector of Dubai Economy (DED) to licence freelancers at their place of residence in Dubai and enable start-ups to conduct business activities online and across social networking accounts, has seen overwhelming response with 9,949 licences issued since its …

One-year term deposits grew 34.7 pct, or AED16.3 bn, during the first ten months of 2020 as compared to the corresponding period of 2019, statistics by the Central Bank of the United Arab Emirates have showed. Growing demand ratcheted the cumulative balance of this type of deposits to AED63.2 bn, …

Field inspections being conducted by Dubai Economy across open markets and commercial establishments since the beginning of the year have revealed 15 violations of the precautionary guidelines against COVID-19. Various gyms were also inspected in co-operation with the Dubai Sports Council. The 15 violations detected were mostly related to face …

Despite the global economic slowdown and COVID-triggered lockdowns, UAE’s non-oil trade amounted to AED1.033 trillion during the first nine months of 2020, statistics by the Federal Competitiveness and Statistics Centre showed today. The figures cover the exchanges of non-oil commodities, including direct trade and that of free zones and warehousing …

The Sharjah Chamber of Commerce & Industry (SCCI), represented by Mohammad Ahmed Amin Al Awadi, SCCI Director-General, received a delegation from Malaysia External Trade Development Corporation (MATRADE), headed by Omar Mohammed Saleh, MATRADE Trade Commissioner. The meeting dealt with topics of common interest and means of developing exports, trade, and …