Economy

The Dubai Gold and Commodities Exchange (DGCX) was named ‘Exchange of the Year’ at the FOW Global Investor MENA Awards 2019 for its exceptional growth in achieving numerous records for trading volume, notional value, and open interest. The ‘Exchange of the Year’ winner is chosen as per the Exchange’s ability …

The 2019 edition of the Islamic Banking Index by Emirates Islamic demonstrates significant progress made by the Islamic banking sector across parameters, with Islamic banking penetration reaching its highest level since the inception of the Index five years ago. The Islamic Banking Index by Emirates Islamic is a benchmark survey …

The Ajman Free Zone was the main sponsor at the fifth edition of the UAE-India Economic Forum held at the Waldorf Astoria, DIFC, this week, while Abdullah Ahmed Al Saleh, Under-Secretary for Foreign Trade & Industry, UAE Ministry of Economy, was guest of honour at the event. The well-attended event …

India has decided to not join the Regional Comprehensive Economic Partnership (RCEP) agreement over India’s concerns not being addressed in the deal. According to sources in the government, India has decided not to join RCEP and PM Narendra Modi has stood firm on the issue that India’s concerns were not …

The Supreme Petroleum Council announces an increase in hydrocarbon reserves of 7 billion stock tank barrels of oil and 58 trillion standard cubic feet of conventional gas and the discovery of 160 TSCF of unconventional gas.

Abu Dhabi’s Supreme Petroleum Council approved on Monday the listing of Abu Dhabi National Oil Co’s Murban crude on a stock exchange, the emirate’s crown prince said on Twitter. Sheikh Mohammed bin Zayed al-Nahyan tweeted: “With the blessing of UAE President HH Sheikh Khalifa, the Supreme Petroleum Council announced major …

Dawoud Al Hajri, Director-General of Dubai Municipality and Chairman of the Committee for Developing Building Permits in the emirate of Dubai, expressed his pride in the UAE being ranked first in the Arab world and region, and third in the world, in easing the issuing of building permits, as per …

Saudi Aramco, the world’s largest integrated oil and gas company, wholly owned by the Government of the Kingdom of Saudi Arabia, on Sunday announced its intention to proceed with an initial public offering (IPO) on Riyadh’s Tadawul Stock Exchange. The Government intends to sell a portion of its shares in …

The value of non-oil foreign merchandise trade through Abu Dhabi ports stood at AED136.3 bn during the first eight month of 2019, according to the figures revealed by the Statistics Centre-Abu Dhabi Thursday. The eight months saw a 15.6 decrease in imports to AED 64.4 bn, while the value of …

ADNOC Distribution net profit increases by 2.3% compared with the same period last year In the first nine months of 2019, net profit increased to AED 1.72 billion, an increase of 2.3% compared with the same period last year for the third quarter of 2019 grew to AED 698 million, …