Economy

Filipino expatriates in the UAE are among the top remittance senders, according to latest figures released by the Central Bank of the United Arab Emirates. They comprise 7.2 percent of the total remittances, amounting to Dh5.8 billion, sent from the country during the first quarter of 2019. As per the …

The UAE’s central bank revised its growth forecast for the economy upward to 2.4 per cent for 2019, from an earlier projection of 2 per cent in May this year. The economy grew by 2.2 per cent in the second quarter, with non-oil growth expanding 1.5 per cent, the central …

Dubai: The Dubai FDI results in 2019 have continued to achieve distinct growth rates, making Dubai among the top three investment destinations in the world, said Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council. This is was made possible thanks …

More than 1,000 UAE residents took part in the survey, which asks a range of questions on the state of UAE residents’ finances and their attitudes towards work. Nearly 58 percent of UAE residents are saving less money than were a year ago, according to the Yallacompare Consumer Confidence Tracker …

Dubai has risen the ranks of the Global Financial Centres Index, GFCI, to the eighth position, representing its highest ever-ranking. The city is the only financial centre within the Middle East, Africa and South Asia, MEASA, to appear within the top 10 rankings, placing it alongside other pivotal financial hubs …

The Central Bank of the UAE (CBUAE) announced that effective Thursday 19 September 2019, it will lower interest rates applied to the issuance of its Certificates of Deposits in line with the decrease in interest rates on US Dollar, following the Federal Reserve Board’s decision to decrease the Federal Funds …

As part of its efforts to bolster cooperation with local and federal authorities, and in line with its endeavor to ensure the optimal implementation of the tax system at a national level, a delegation from the Ministry of Finance, MoF, met representatives of the Department of Finance, DoF, and local …

Oslo-listed RAK Petroleum has announced a consolidated net comprehensive income of US$65.7 million for the half-year to 30th June, 2019, compared to a net comprehensive income of $166.4 million for the full year 2018. RAK Petroleum’s main assets are holdings in DNO, also listed in Oslo, and privately-held Foxtrot International. …

The UAE Economic and Commercial Delegation concluded its participation in the 4th Summit of Belt and Road Initiative in Hong Kong. Abdullah Al Saleh, Under-Secretary at the Ministry of Economy for Foreign Trade Affairs and Head of the UAE Delegation, highlighted the success of the delegation’s mission and its contributions …

Abu Dhabi Securities Exchange, ADX, announced on Saturday the distribution of over AED25 billion in cash dividends to 572,774 eligible investors on behalf of its listed companies. In comparison to the 2018 dividends, the 6.95 percent increase demonstrates the attractiveness of the investment environment in the Emirates and especially in …