Economy

ADNOC Distribution today announced that it reported net profit for the fourth quarter of 2019 was AED496 million, an increase of 11.3 percent compared to same period last year. EBITDA for the fourth quarter of 2019 was AED658 million, an increase of 6.5 percent compared to the same period last …

The value of the liquidity withdrawn by the Central Bank of the UAE, CBUAE, from the market in 2019 totalled AED22 billion, highlighting the surplus liquidity in the UAE’s banking system. The CBUAE manages the country’s monetary policy to serve the national economy in general, through a variety of instruments. …

Aramex announced its financial results for the Fourth Quarter and Full Year, FY, ending 31st December 2019 on Sunday. According to a press statement issued by Aramex on Monday, Full Year 2019 revenue increased by 3% to AED5,246 million, compared to AED5,086 million in FY 2018. FY 2019 net profit …

Emirates NBD continues to be the UAE’s most valuable banking brand, with a brand valuation of US$4.13 billion, as stated in the latest edition of The Banker’s annual brand valuation league table. The bank also secured a spot among the top 100 global banking brands, and was ranked second in …

Senegal represents an important trade and logistics partner for the UAE and there are broad prospects for developing cooperation with “this friendly country that has many untapped opportunities,” said Minister of Economy Sultan bin Saeed Al Mansouri. In an interview with the Emirates News Agency, WAM, the Economy Minister added …

The commercial and economic ties between the UAE and Senegal have witnessed recent significant developments, with the value of their trade from 2014 to 2018 amounted to AED9.1 billion, according to statistics from the Federal Competitiveness and Statistics Authority, FCSA, and the Ministry of Economy. The official visit of Macky …

A business meeting organised by the Abu Dhabi Chamber of Commerce, and Industry, ADCCI, at its headquarters with a trade delegation representing 12 Japanese companies revealed the presence of 340 Japanese companies and 11,000 Japanese brands registered in the UAE. During the meeting, which aimed to brief the Japanese companies …

 The total production of all economic activities in the Emirate of Abu Dhabi amounted to AED 1,268.1 billion in 2018 from AED 1,120.5 billion in 2017, according to an economic survey released by the Statistics Centre- Abu Dhabi today. The value added by all economic activities stood at AED 849 …

The Board of Directors of the Central Bank of the UAE, CBUAE, recently held their first meeting this year under the chairmanship of Hareb Masood Al Darmaki, the Chairman of the Board. The meeting was attended by Abdulrahman Saleh Al Saleh, Deputy Chairman of the Board and Mubarak Rashed Al …

The United Arab Emirates announced today the discovery of 80 trillion standard cubic feet, TSCF, of shallow gas resources in place within the area between Saih Al Sidirah and Jebel Ali in the Emirates of Abu Dhabi and Dubai respectively. This new discovery reinforces the nation’s goal of achieving gas …