The central bank said that the lending rate remained at 28.25 per cent, while the deposit rate stood at 27.25 per cent
The country’s domestic gas output plummeted to a six-year low in May, down around 25 per cent from its 2021 peak
The government urged eligible businesses to register with the National Bureau for Revenue before the deadline
The North African country has been using its net foreign assets to help prop up its currency since at least September 2021
Economists say central bank lending risks undermining the economy by expanding the money supply and fuelling inflation
Turkish farmers have long complained of sharp hikes in the prices of fertilisers and fuel due to the sharp depreciation in the lira
Over 60 million people have access to discounted prices on staples such as pasta, vegetable oil and sugar through state-run outlets
Pakistan has relied on long-time allies such as China, Saudi Arabia, and the UAE to ‘roll over’ debt rather than force a repayment crunch
On UAE Women’s Day, a look at how Laila Yousef Al Hassan and the ECA’s Parent-Friendly Label Programme are transforming workplace practices to support female participation and work-life balance
The latest review, approved in late July but released only on Monday, was Egypt’s third and followed the expansion of the package size in March
The UAE’s non-oil exports to its top 10 trade partners rose by 28.7 per cent, while trade with all other nations increased by 12.6 per cent
Fed chief says timing, pace of rate cuts depends on data
The guest list of about 120 includes most of the US Fed’s 19 policymakers, a few dozen central bankers from Europe, Asia, Africa, the Americas, and a group of select journalists
Key growth sectors include real estate, construction, financial services, trade, manufacturing, logistics and tourism, the Standard Chartered report shared
The country’s finances were boosted in February when it sold the development rights to Ras El-Hekma to the UAE for $35bn
The RBI has not instructed banks to shift all dirham payments to this channel but instead is taking steps to encourage the development of an rupee-dirham market
According to the latest figures, the DWTCA Free Zone saw a substantial 21 per cent rise in the number of tenants, reaching 2,735 in H1
Sectors such as clean energy, metals and minerals, transport and logistics, and digitalisation are expected to see significant funding as part of the kingdom’s economic diversification efforts
Dubai’s CPI moved down marginally to 111.56 points in July from 111.65 points in June, according to Dubai government data
We need more domestic craftsmanship and innovation to shape Dubai’s economic, cultural and aesthetic future
OPEC highlighted the steady expansion of the UAE’s economy, supported by strong domestic and international economic activities
Olam presented the lowest offer for 60,000 metric tonnes for an October 1-15 shipping period
More than 100 countries, such as China, India, Brazil, and South Africa, face serious obstacles that could hinder their efforts to become high-income countries in the next few decades, reveals World Bank’s recent report
Getting a visa to visit Dubai, Abu Dhabi or any other city in the UAE is a breeze, thanks to multiple application avenues
The bank has raised its policy rate by 4,150 basis points since June last year but has kept it unchanged at 50 per cent since March
The central bank hiked interest rates by 600 basis points (bps) on March 6, bringing total increases in 2024 to 800 bps
The country has been one of the world’s largest wheat importers, mainly to provide subsidised bread for tens of millions of its people
Lebanon’s multiple crises include a contracting economy, lack of governance and tensions in the region causing an influx of refugees
Non-oil economy increased 3.3 per cent in the January-March period, contributing almost 85.9 per cent to overall GDP