Economy

 In an effort to ensure that stored value products and services are operated in a secure, sound and efficient manner in the UAE, the Central Bank of the UAE, CBUAE, has issued a new regulation on Stored Value Facilities, SVF. By introducing this new regulation for the providers of SVFs, …

The Board of Directors of the Central Bank of the UAE held its regular meeting today at Qasr Al Watan, chaired by H.H. Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs. During the meeting, the board approved the bank’s investment policy, which covers technical …

Hub71, Abu Dhabi’s global tech ecosystem, today announced the latest cohort of startups selected to join its rapidly growing startup community, with an increasing number of startups led by female founders. The successful startups, chosen from hundreds of applicants, will benefit from Hub71’s Incentive Programme, which reduces the cost of …

Chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister of the UAE and Ruler of Dubai, the UAE Cabinet has approved the federal budget of AED 58 billion for the fiscal year 2021. His Highness Sheikh Mohammed bin Rashid has asserted that the UAE will …

 Japan imported from the United Arab Emirates 20.173 million barrels of crude oil in September 2020, data released by the Agency of Energy and Natural Resource in Tokyo, showed. This accounts for 31.4% of Japan’s total crude imports, the agency that belongs to the Ministry of Economy, Trade and Industry, …

Fuel prices for the month of November 2020: Super 98: Before: 1.91 AED/L After: 1.91 AED/L Special 95: Before: 1.80 AED/L After: 1.80 AED/L Diesel: Before: 2.06 AED/L After: 2.06 AED/L

The non-oil foreign merchandise trade through the ports of Abu Dhabi Emirate amounted to AED80.2 billion in the period from January through May 2020, according to the figures of the Statistics Centre-Abu Dhabi. Re-exports stood at AED14.8 billion, and exports to AED23.2 billion, with imports went up by 0.4% as …

Commercial Bank of Dubai, CBD, has announced the issuance of a US$600 million Additional Tier 1 (AT1) perpetual non-call 6-year bond, at a coupon of 6%, the lowest coupon from a Dubai bank issuer to date on a Basel III compliant AT1 bond. The transaction is the bank’s inaugural AT1 …

Commercial Bank of Dubai has entered into a partnership with Al Fardan Exchange to be a channel partner for issuing and topping-up the new eDirham card initiated by the Ministry of Finance. The eDirham card is part of a cashless payment platform that empowers users to make payments for a …

Under the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, approved an economic stimulus package worth AED 500 million, bringing the …