ABU DHABI, Abu Dhabi main index edged 0.065% higher, supported by First Abu Dhabi Bank (NBAD) gaining 1.3%, to close AED16.00, Wednesday.Dubai’s main share index followed suit and rose 0.317%, led by a 2% gain by NBD.Americana, running under the tradin…
Category: Sales
UAE raises base rate by 50 basis points
Abu Dhabi, The Central Bank of the UAE (CBUAE) has decided to raise the Base Rate applicable to the Overnight Deposit Facility (ODF) by 50 basis points – from 3.9% to 4.4%, effective from Thursday, 15 December 2022.This decision was taken following the…
CBUAE gold reserves hit AED12.7 bn by end of September
ABU DHABI, The value of gold reserves of the Central Bank of the UAE (CBUAE) reached AED12.749 billion, a growth of 13 percent or AED1.463 bn in September 2022, compared to AED11.286 billion in September 2021.The apex bank in its latest figures showed …
AD Ports Group signs two agreements with Kyrgyz Republic to promote trade with Central Asia
ABU DHABI, AD Ports Group (ADX: ADPORTS) has signed two major agreements with the Government of Kyrgyzstan to promote trade and strengthen economic ties with the Central Asian nation.Under the first agreement, the Ministry of Economy and Commerce has e…
Commercial Bank International signs Memorandum of Cooperation with IESE Business School
DUBAI, Commercial Bank International (CBI or “the Bank”), a corporate and retail bank headquartered in Dubai, have signed a Memorandum of Cooperation (MOC) with IESE Business School in Spain.IESE is one of the world’s leading business schools and its e…
Sharjah Sustainable City partners with Sharjah Entrepreneurship Festival 2022 to showcase its journey to sustainable living
SHARJAH, Sharjah Sustainable City, a fully sustainable residential community developed by Sharjah Investment and Development Authority (Shurooq) in partnership with Diamond Developers, has partnered with the sixth edition of the Sharjah Entrepreneurshi…
ADNOC Drilling acquires two new jack-up rigs, accelerating business growth
ABU DHABI, ADNOC Drilling Company PJSC (ADNOC Drilling) (ADX symbol: ADNOCDRILL / ISIN: AEA007301012) today announced that it has signed an agreement to acquire an additional two premium high-specification Gusto MSC CJ46-X100-D design offshore jack-up …
Dubai’s clean energy transition gathers pace with innovative initiatives
Dubai last month announced a roadmap to make its public transport emission-free by 2050, taking its ambitious strategy to transition to the green economy another step closer to reality. Featuring infrastructure, circular economy and green mobility init…
UAE bank Investments up to AED483.3 bn by end of September 2022
ABU DHABI, UAE-based bank investments grew to AED483.3 billion by the end of September, 1.55 percent up from AED475.9 billion in September 2021, statistics showed by the Central Bank of the UAE have showed.These investments increased 2.13 percent or by…
UAE economy experiencing sustained momentum in 2022: OPEC
ABU DHABI, The UAE economy has experienced sustained momentum in 2022, boosted by Expo 2020 and the easing of COVID-19 restrictions, according to the OPEC Monthly Oil Market Report for December.The report cited recent economic indicators suggesting str…
UAE Banks Federation confirms sector’s strength, ability to continue growing
ABU DHABI, Chairman of the UAE Banks Federation, Abdulaziz Al Ghurair, said that the UAE banking and financial sector has successfully addressed the numerous geopolitical and economic developments and changes that over the recent years have posed chall…
Bank of China lists $300 million bonds on Nasdaq Dubai
DUBAI, Li Xuhang, Consul-General of the People’s Republic of China, today rang the market opening bell to celebrate the listing of US$ 300 million bonds on Nasdaq Dubai.This is the second time that the Bank of China is listing its bonds on the region’s…