Economy

Fuel prices for the month of June 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 Federal Tax Authority, FTA, has issued a decision to postpone the implementation of the ban on supplying, transferring, storing, and possession of water pipe tobacco – known in Arabic as ‘mu’assel’ – and electrically heated cigarettes in the UAE that do not carry digital tax stamps until 1st January …

The super rich are a whole lot richer than they were two months ago. Twenty five of the wealthiest people on Forbes’ list of the world’s billionaires are worth a whopping $255 billion more than when the U.S. stock market hit a mid-pandemic low on March 23. Together these 25 …

ADNOC Distribution has registered over nine million contactless transactions through its smart application since the start of 2020. The company provides four secure contactless payment options through its smart application, including Mobile Pay, RFID, ADNOC Plus top up cards and Emirates ID. The ADNOC Distribution app is a convenient way …

The UAE’s banking system strengthened its support for the agricultural sector in the first quarter of 2020, by providing financing valued at more than AED500 million to agricultural projects from January to March 2020. This support is in line with the country’s efforts to achieve its food security strategy, which …

Suhail bin Mohammed Faraj Faris Al Mazrouei, Minister of Energy and Industry, announced that the UAE will voluntarily cut its oil output by 100,000 barrels per day in June in a bid to back Saudi Arabia’s efforts to rebalance the world oil market. ”While the UAE successfully achieved production of …

Upbeat sentiments prevailed in UAE stock markets Thursday, driven by banking blue chips in Abu Dhabi and Dubai whose general indexes closed 1 percent and 0.18 percent higher than the last trading session at 4,061 pts and 1,768 pts, respectively, after securing gains of around AED2.6 billion in market cap. …

The UAE Dirham has appreciated against the currencies of top 10 non-dollarised import partners by 1.8 percent in 2019, according to Central Bank of the UAE statistics. These partners account for around 51.4 percent of the UAE’s total imports. In the meantime, the UAE currency gained more ground against the …

Dubai’s retail sector will see a gradual recovery by the middle of 2021 as it carefully emerges from the coronavirus crisis that disrupted tourism, the chairman of Emaar Properties, the emirate’s largest listed developer, said after Dubai Mall reopened. Dubai will rebound from the crisis in “better shape” than other …

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