According to recent data, Dubai’s thriving real estate sector is expected to rise by 46 percent next year. According to Realiste data, home prices in Dubai have increased by 20-40% in the last year. Other localities had considerably greater growth. Palm Jumeirah, for example, increased by 59 percent, while Trade Center First increased by 210 […]
The CBDC strategy was first unveiled in February as part of the central bank’s program to position the UAE as a global financial hub. The Central Bank of the UAE introduced its “The Digital Dirham” Central Bank Digital Currency [CBDC] strategy. The Central Bank of the United Arab Emirates (CBUAE) is getting closer to completely […]
Dubai has a long history of being a hub for gold and silver trade, and it’s not uncommon for the city to release new coins as part of its ongoing efforts to promote its status as a center for precious metals. Dubai’s DMCC has unveiled prototypes of a new series of gold and silver bullion […]
The OPEC Fund for International Development (OFID) has approved more than $300 million in financing in the first quarter of 2023, in support of its Climate Action Plan. The OPEC Fund is committed to ensuring a positive impact on people and the planet through its efforts in Africa, Asia, and Latin America. Three out of […]
Abdulla Abdul Aziz Al Shamsi, the Acting Director-General of the Abu Dhabi Investment Office (ADIO), has highlighted the office’s global expansion over the past two years. During this period, ADIO has successfully opened eight representative offices in various global economic capitals, emphasizing the office’s efforts to attract more companies specializing in innovation and technology to […]
Emirates NBD Securities, the brokerage arm of Emirates NBD Group, has become the first securities brokerage in the region to offer seamless trading account opening through the Dubai Financial Market (DFM)’s digital onboarding application. This new application provides investors with an additional channel to open a trading account with Emirates NBD Securities, allowing them to […]
The TECOM Group, a Dubai-based developer and operator of business communities, announced the approval of their financial statements for the year ending on December 31st, 2022. During the Annual General Assembly Meeting at Dubai Internet City, the Board of Directors approved a cash dividend of AED200 million for April 2023, bringing the total amount of […]
Dubai Electricity and Water Authority (DEWA) has achieved impressive results in the latest Brand Finance rankings. DEWA’s brand value increased by 30% and the company was named as the second most valuable Middle Eastern utilities brand. The Brand Guardianship Index 2023 issued by Brand Finance also ranked Saeed Mohammed Al Tayer, MD and CEO of […]
On Monday, most Gulf stock markets closed higher, ignoring a drop in oil prices, with Dubai leading the gains following the largest-ever intraday increase in Emaar Development, while the Egyptian index continued its downward trend. Oil prices, which have a significant impact on Gulf economies, fell on Monday, with Brent crude futures trading down $1.30, […]
Motor insurance premiums in the UAE have increased sharply as insurance companies end Covid-19 discounts of up to 50% on premiums, announced by the Insurance Authority in 2020. Before the pandemic, insurance companies could offer up to a 30% discount, depending on the driver’s history. In November 2022, all insurers announced a rate change to […]
