Gold slumped below $1,700 an ounce on Thursday for the first time in almost a year
Bullion on Wednesday bucked a downward trend that’s seen it slide for four consecutive weeks
In July, the UAE will sign its fourth comprehensive economic partnership agreement with Colombia
From a regional perspective, the Middle East was well represented with the UAE, Saudi Arabia and Bahrain officials participating
The five areas that the three countries will cooperate on include food, agriculture and fertilisers; pharmaceuticals; textiles; minerals and metals; and petrochemicals
West Texas Intermediate futures climbed toward $111 a barrel after rising 0.5 per cent on Wednesday
The Q1 2022 figure of Dhs499.7bn marked a growth of 20.5 per cent over the same period in 2021
Investors have shunned equities and many commodities after Federal Reserve officials reaffirmed much tighter monetary policy lies ahead to cool an overheating economy and tame inflation
It indicated a 10 per cent year-on-year increase compared to the number of licences issued in Q1 2021
The boost was mainly driven by oil revenue, which rose 58 per cent compared to last year
Aramco’s output averaged 10.2 million barrels a day between January and March, up 20 per cent year-on-year
Exports recorded a growth of 35 per cent year-on-year and were valued at Dhs24.449bn
E-commerce represents a significant avenue through which the adoption of digital payments can expand growth opportunities
Kuwait Investment Authority’s Enertech Holding Co. and Pakistan Kuwait Investment Company have applied for a digital bank license and proposed a hydrogen plant and two smart cities
Data from DSCD shows that Sharjah’s trading sector was the most significant contributor to the emirate’s economy at 23.8 per cent
Total bank deposits increased by 1.5 per cent, rising from Dhs1,966.8bn at the end of November 2021 to Dhs1,996.5bn at the end of December 2021
The non-oil contribution to the country’s GDP in 2020 stood at 71.3 per cent
Prior approval is required from the Ministry of Economy by any supplier if they wish to raise prices of certain products
Fifty-seven per cent of the new business licences issued were under the professional category and 43 per cent were commercial
Its GDP reached Dhs1.489tn at current prices, with the growth rate for 2021 reported to be the highest in the region
There were 24,077 commercial sector licences issued in 2021, up 21.4 per cent year-on-year
Saudi Arabia will also provide $1bn for the purchase of oil products and to support of development projects
The UAE aims to attract Dhs550bn worth of foreign investments to the country by 2030
The stock is expected to start trading in Dubai around April 12
Non-oil activities contributed 49.7 per cent of the GDP at constant prices last year
The official signing of agreement is expected to follow in the coming weeks
The bank’s strategy involved direct and indirect financing of 1,350 SMEs across priority sectors
It is part of the kingdom’s efforts to support Egypt’s economy
The UAE is one of Iraq’s most important trading partners, with the value of exported goods totalling over $13.11bn in 2020
There are now more than 287,000 member companies of the organisation