The central bank has also set up a committee which is communicating with banks on procedures to ensure continuity of banking
Annual revenue meanwhile rose by 36 per cent in 2019 to $7.68bn from $5.6bn in 2018
DP World, UAE Region currently contributes to over 33.4 per cent of Dubai’s GDP
It puts Aramco supply above its maximum sustainable capacity, indicating that the kingdom is even tapping its strategic inventories
The policy will be gradually applied to all the other emirates across the country
Goldman Sachs warns that prices could drop to near $20 a barrel
Of the total number of licences issued by Dubai DED last month, 72.4 per cent were professional and 26.1 per cent were commercial
Almost 4.8 million shares which belonged to Shetty were held in a nominee account in Falcon Private Bank which were then transferred to First Abu Dhabi Bank on February 5
The project is part of Phase III, expected to be completed by 2022, of the Al Shindagha Corridor Project
The amount is available as direct loans to foreign buyers and as lines of credit to international financial institutions importing goods and services from UAE companies
The coronavirus infection that has left China grappling, has also managed to disrupt the global supply chain
The country’s minister of state also added that it was too early to assess the full impact of VAT on the national economy
Central banks in the GCC matched the Fed’s half-percentage point cut
Ai Everything has been postponed indefinitely, while Careers UAE will take place in October this year
The good time in capital markets must come to an end at some point, says Saxo Bank CEO
The UAE has, so far, reported 21 cases of coronavirus of whom five have fully recovered
China was Dubai’s largest trading partner, followed by India, US, Switzerland and Saudi Arabia
The loan is expected to finance about 37,000 projects over the next four years and create over 200,000 jobs in the African country
Emirati banks received approximately 89.8 per cent of the total investments
The number of enforcement cases also rose 35 per cent to 251 with a total claim amount of Dhs2.6bn
Falling reserves and inflows have led to a shortage of foreign exchange in Lebanon, disrupting the financial system
It raises Dar Al-Arkan’s total sukuk value listed on Nasdaq Dubai to $2bn
The total number of exhibitors was up nearly 40 per cent compared to the previous year
The five-year sukuk was oversubscribed 2.5 times with a total book size exceeding $750m
Further investments of $4.3bn are expected into MENA’s desalination projects by 2022
The Gulf nation plans to lower its debt and review state companies
Remittances are down 2.4per cent year-on-year
The UAE economy grew 4 per cent in the second quarter of 2019 while the fourth quarter posted the lowest growth figure of 1.3 per cent
Bullion prices have taken off this year, rising almost 10 per cent, as concerns over the virus deepen
Central banks in Indonesia, Mexico, Turkey and South Africa have cut rates this year