Economy

The total value of fund transfers among the UAE’s banks grew 6.9 percent YoY to around AED1.8 trillion in the first two months of 2020, according to figures released recently by CBUAE. The apex bank said the banking fund transfers hit AED 1.2 trillion in the reference period, while transfers …

To the tune of AED32.5 billion in cash dividends for 2019 have been proposed to date by 44 companies listed in the UAE capital markets, according to data released by these firms. The combined dividends announced account for 78 percent of those paid out by listed companies in 2018, which …

Etihad Airways, the national airline of the UAE, is marking International Women’s Day by pledging to increase its female workforce by 25 percent over the next five years – the first airline in the country to make this commitment. This follows the International Air Travel Association’s, IATA, voluntary ‘25by2025’ campaign …

The Federal Authority for Nuclear Regulation, FANR, announced on Monday that it has overseen loading of the nuclear fuel assemblies into the Unit 1 of Barakah Nuclear Power Plant to ensure it is completed according to the regulatory requirements. In a statement, the authority affirmed that its inspection activities indicated …

The Emirates Nuclear Energy Corporation, ENEC, announced today that, following the successful completion of fuel assembly loading into Unit 1, the UAE has officially become a peaceful nuclear energy operating nation. The UAE has also become the first country in the Arab World to achieve this status, joining a limited …

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai have presided the cabinet meeting His Highness said via his Twitter account: “I have Presided the cabinet meeting in which we decided on the positive list of economic sectors available …

UAE stock exchanges rebounded Monday and gained AED7.3 bn in market capitalisation by the end of today’s session, with the ADX General Index closing at 4763, 0.84 pct higher than yesterday’s session and DFM edging up 2.5 pct to 2536 points. The positive sentiments manifested themselves from the very beginning …

Abu Dhabi Developmental Holding Company, ADDH, announced today that it concluded the definitive agreement with its partner Wizz Air Holdings, Europe’s fastest growing and greenest airline, to jointly establish Wizz Air Abu Dhabi. The low-cost airline is set to launch its operations at Abu Dhabi International Airport in Fall 2020. …

According to statistics from the National Economic Register of the Ministry of Economy, the number of economic licences issued in the UAE grew to 678,573 in February 2020, compared to 676,256 in January. This increase highlights the ongoing economic growth around the country. The Central Bank of the UAE noted …

The UAE Banks Federation, UBF, today announced that it has launched two new technical committees (Fintech and Consumer Protection) and three advisory committees (Compliance, Risk, and Information Security) to promote the growth and transformation of the UAE banking sector. As the official representative body of the UAE banking industry, the …