Tag : Business

The UAE retail e-commerce market reached a record $3.9 billion in 2020, a 53 percent year-over-year increase driven by the COVID-19-led digital shift, while e-commerce accounted for 8 percent share of the retail market during the same year, new analysis from Dubai Chamber of Commerce and Industry has revealed. The......

The UAE GDP is expected to grow by 2.4 percent in 2021 and 3.8 percent in 2022 while the non-oil GDP to expand by around 4 percent in both years, according to the Financial Stability Report (FSR) released by the Central Bank of the UAE (CBUAE). The CBUAE has published......

The Central Bank of the UAE (CBUAE) has signed a Memorandum of Understanding (MoU) with the Central Bank of Egypt (CBE) to strengthen supervisory cooperation. The MoU outlines the mechanisms of information exchange to facilitate the performance of their supervisory and financial stability mandates. The MoU establishes the cooperation mechanisms......

Shayne Nelson, Group CEO of Emirates NBD, rang the market-opening bell at Nasdaq Dubai to celebrate the listing of a US$750 million bond. The listing of this additional Tier 1 Capital bond reinforces Emirates NBD’s position as the largest financial services bond issuer on Nasdaq Dubai through seven listings with......

Al Maryah Community Bank, UAE’s first fully integrated digital bank, has announced the completion of its pragmatic architectural design of technology platform which is infused with an artificial intelligence capability that will lead to the complete transformation of digital banking, dispensing maximum customer satisfaction. Mohammed Wassim Khayata, CEO, Al Maryah......

Abu Dhabi Airports and Masdar have announced the completion of Abu Dhabi’s largest solar-powered car park, which will save 5,300 tonnes of carbon dioxide per year. The three-megawatt (MW) solar photovoltaic (PV) project is installed on the car shading at the short-term car park of the Midfield Terminal at Abu......

The real estate and properties transactions valued at AED 4.1 billion in total during the week ending 20 May 2021, according to Dubai Land Department (DLD). The sum of transactions was 1,562. 120 plots were sold for AED 874.43 million, 1,038 apartments and villas were sold for AED 2.03 billion.......

The FDI inflows to the UAE grew 44.2 percent in 2020 to $19.88 billion as compared to 2019, despite the fallout of the COVID-19 pandemic which has taken its toll on the global economy, according to a report by the Ministry of Economy. The cumulative value of foreign direct investments......

The Danish Government has confirmed its official participation in Expo 2020 Dubai, partnering the Danish Business Council at the six-month global gathering. The participation was confirmed by Danish Ambassador Franz-Michael Mellbin, who has been appointed Commissioner General for Denmark at Expo 2020, at the end of last week’s International Participants......

At the invitation of the President of the European Council Charles Michel, Indian Prime Minister Narendra Modi participated in the India-EU Leaders’ Meeting. The meeting was held in a hybrid format with the participation of leaders of all the 27 EU Member States as well as the President of the......