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
It intends to float 10 per cent of its petrochemicals joint venture that it entered into with Austria’s Borealis
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
The planet’s warming is likely to pass 1.5°C, UN scientists warn
The growth in GDP was driven by an increase in oil activities by 20.4 per cent, and a rise in non-oil activities by 3.7 per cent
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
Airbnb employees who work in lower cost-of-living areas won’t see their compensation change
The two state-owned institutions will make it easier for UAE and Indonesia-based companies to access funds to pursue their international expansion
Data from DSCD shows that Sharjah’s trading sector was the most significant contributor to the emirate’s economy at 23.8 per cent
Tecom plans to list its shares on the Dubai Financial Market
According to AMF, the inflation rate for Arab countries as a group is expected to rise to 7.5 per cent in 2022, and decrease to 7 per cent in 2023
It marks a growth rate of 7 per cent over, or 1,139 licences, over the same period in 2021
The kingdom’s economy expanded 6.7 per cent on an annual basis during the fourth quarter of 2021
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
The UAE Digital Economy Strategy aims to double the contribution of the digital economy to the GDP from 9.7 per cent to 19.4 per cent within the next ten years
Fifty-seven per cent of the new business licences issued were under the professional category and 43 per cent were commercial
S-commerce has several other factors going in its favour
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