Economy

Jeff Bezos, the owner of Amazon, added a record $13 billion to his net worth on Monday, Bloomberg reported. According to the Bloomberg Billionaires Index, Bezos’ is now worth $189.3 billion. While the US economy has shrunk due to the coronavirus pandemic, the founder of the online shopping giant has …

Dubai Investments, PJSC, a leading Middle East investment and a public joint stock company listed on the Dubai Financial Market, DFM, celebrated its silver jubilee anniversary, marking 25 years of investments in the region, with a bell ringing ceremony at the DFM. The bell ringing ceremony was attended by Abdulrahman …

Value of funds collected through the UAE Direct Debit system, UAEDDS, of the Central Bank of the UAE, CBUAE, rose by 7 percent to AED61 billion in 2019 from AED57 billion in 2018, according to figures released by the CBUAE. The statistics noted the increase in the funds settled through …

Hamdan bin Mohammed: Under the directives of His Highness Sheikh Mohammed bin Rashid .. We approved today a new stimulus package worth 1.5 billion dirhams, bringing the total incentive packages to 6.3 billion dirhams .. We aim to enhance the liquidity of companies, support their business continuity, reduce their cost …

The Central Bank of the UAE, CBUAE, has published its Financial Stability Report, FSR, which provides information, analysis and an assessment of the resilience and matters that require additional support in the banking and financial system in the UAE promoting public understanding and transparency. The report covers macro-financial conditions, regulatory …

The Department of Tourism and Commerce Marketing, Dubai Tourism, hosted a virtual forum for stakeholders and partners to share its industry outlook ahead of the city’s reopening to international tourists on 7th July. The forum provided a first-hand insight into current and post-pandemic strategies that will help accelerate tourism momentum …

 The UAE export community is united, stronger than ever to drive COVID-19 economic recovery, build the export-oriented economy, said Mohammed Saif Al Suwaidi, Director General of Abu Dhabi Fund for Development and Chairman of the Export Executive Committee of Abu Dhabi Exports Office, in an Ope-Ed. ”The UAE export community …

Non-Arab foreigners traded to the tune of AED6.3 bn of shares in June, or 30 percent of the total volume of transactions conducted across the Abu Dhabi and Dubai financial markets, according to figures released by the two bourses. The total trades in the two markets hit AED20.3 bn in …

Nasdaq Dubai welcomed the listing today of a 1.5 billion US dollar Sukuk issued by Islamic Development Bank, IsDB, to support COVID-19 relief initiatives. The capital raised will fund medical, social and business projects in many of the bank’s 57 member countries aimed at protecting health and improving lives. The …

Nasdaq Dubai today welcomed the listing of a US$500 million Sukuk by Sharjah Islamic Bank, SIB. The capital raised will support SIB’s activities and strategic development to cater to its customers in corporate, investment and retail banking. In a statement on Wednesday, Nasdaq Dubai said that the five-year Sukuk was …