Economy

DP World UAE Region and Jebel Ali Free Zone, Jafza, showcased their capabilities and offerings at the FoodPro Exhibition and Conference organised by the Confederation of Indian Industry, CII, in Chennai to support and facilitate India’s food and beverage exports. The DP World team engaged with F&B companies looking to …

The price of OPEC basket of fourteen crudes stood at US$60.66 a barrel on Wednesday, 21st August 2019, compared with $59.94 the previous day, according to OPEC Secretariat calculations. The fourteen crudes, from separate OPEC member countries, includes a mix of blends and light and heavy crudes, including the UAE’s …

Abu Dhabi National Energy Company PJSC (TAQA) announced today that its subsidiary, TAQA Atrush B.V. (TAQA Iraq), has set a new production record from the Atrush oil field in the Kurdistan Region of Iraq. For the first time since the field commenced production operations in July 2017, the total monthly …

Dubai Financial Market, DFM, today announced that its listed companies have recorded a 96 percent compliance regarding the disclosure of Q2-2019 results within the deadline of 45 days from the end of the period. The total number of UAE public and private joint-stock companies as well as the dually- listed …

The Dubai Diamond Exchange (DDE), a subsidiary of DMCC, the world’s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise, announced today the successful completion of three rough and polished diamond tenders hosted between 16th and 23rd July 2019. Over 200 companies convened in Almas Tower …

The Ministry of Economy has announced a new amended fee and fine structure for a package of 110 services in the implementation of Cabinet Resolution No. (51) of 2019 on reduction of government services fees it provides to customers and businesses. According to the new fee structure, fees of 102 …

Dubai Land Department, DLD, in coordination and cooperation with the General Directorate of Residency and Foreigners Affairs, GDRFA, granted golden visas to 20 investors belonging to 12 nationalities, whose value of direct real estate investments exceeded AED 200 million. This came during a ceremony held at DLD in the presence …

A 21-year-old innovative and self-taught entrepreneur from South Africa has made the Forbes Africa ‘Top 30 Under 30’ list in the business category, the African News Agency, ANA, reported. Avthar Aniruth from Durban in KwaZulu Natal, who founded Epic Motion Pictures and Audience Networks three years ago, said, “I have …

With Dubai’s economy entering a new phase of development and the government launching initiatives to simplify and reduce the cost of doing business, the emirate is set to become an even more productive base for small- and medium-sized Enterprises, SMEs. At the forefront of providing new opportunities for SMEs in …

Around two thirds of small UAE retailers said their revenues and footfall increased after accepting digital payments, The National quoted a new study from global payments company Visa as saying. “While 68 percent of those polled by Visa said their revenue rose after installing a contactless point-of-sale device or other …