Economy

Hamid Rashid Al Muhairi, official spokesman for the Ministry of Economy: During this crisis, some wrong practices have spread, among them buying and storing …We assure the public that the UAE maintains a strategic stock of food commodities and we urge consumers to stay calm and refrain from panic buying.

Driven by a buying spree targeting property, banking and logistics blue chips, much of which happened in the last hour of trading in today’s session, the UAE stock markets closed in the green Thursday, with Abu Dhabi’s main index touching 3,758 points, 0.35 percent up over the last session of …

Total volumes on the Dubai Gold and Commodities Exchange, DGCX, in March totalled 1.8 million contracts, valued at US$ 45.133 billion. The Average Daily Volume, ADV, throughout the same month registered 81,850 contracts. As the COVID-19 pandemic causes volatile swings in markets across the globe, investors are making increasing use …

Abu Dhabi Securities Exchange, ADX, issued a circular on Wednesday requesting listed companies to submit a reviewed quarterly financial report within 45 days from the end of any quarter along with Board of Directors’ report or a management discussion and analysis. ADX circular highlights the importance of disclosure, transparency of …

Super 98 Before Dh2.16 per litre After Dh1.91 per litre Special 95 Before Dh2.04 per litre After Dh1.80 per litre Diesel Before Dh2.25 per litre After Dh 2.06 per litre

The UAE stocks continue to respond favourably to the country-level fiscal incentives and stimulus packages being launched, and gained AED12.5 billion in market cap by the end of Sunday’s session. Capitalising on the improving sentiments, Abu Dhabi’s Main Index rallied 2.87 percent and closed at 3,878 points, with DFM following …

The total cumulative balance of letters of guarantee and other credit facilities provided by banks and other business entities in the UAE significantly grew to AED4.533 trillion in February, 2020, an increase of AED186 billion, or 4.3 percent approximately, from AED4.347 trillion in January, statistics by the Central bank of …

Over the past three years, the UAE’s banking sector has expanded, and now it provides 98 percent of its services to customers electronically, enabling them to achieve their transactions safely online. Studies performed by the Federal Competitiveness and Statistics Authority, FCSA, highlighted an increase in the number of users of …

In line with the directives of Mohamed bin Zayed, Abu Dhabi banks – FAB, ADIB, ADCB in coordination with Abu Dhabi Department of Finance and Abu Dhabi Department of Economic unveil a comprehensive package of initiatives to support the AbuDhabi community and businesses during this time. The 17 financial initiatives …

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, has announced an additional stimulus package to fight the economic effects of Covid-19 coronavirus.The UAE Cabinet, presided over by Sheikh Mohammed, approved a new economic support package worth Dh16 billion on …