The value of transactions conducted in the banking sector within the country through the UAE Funds Transfer System (UAEFTS) rose to approximately AED15.4 trillion during the first 11 months of 2023, according to the latest statistics from the Central Bank of the UAE (CBUAE).
Author: UAEPress_Admin
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Mohammed bin Rashid Al Maktoum Global Initiatives participates in Food Innovation Hubs meeting in Davos
The Mohammed bin Rashid Al Maktoum Global Initiatives (MBRGI) has participated in the Food Innovation Hubs meeting, held as part of the World Economic Forum in Davos, in the presence of Saeed Al Eter, Assistant Secretary General of MBRGI.
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Sharjah Cultural Awards Forum honours four Tunisian writers
Under the patronage of His Highness Sheikh Dr. Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, the city of Sidi Bou Said in Tunisia hosted the fifteenth edition of the Sharjah Cultural Awards Forum, honouring four Tunisian writers Dr. Al Manji Al Kaabi, Al Tahami Al Hani, Dr. Fawzia Al Zaouq and Salem Al Shaabani.
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Sharjah Ruler attends inauguration of 7th IALC
His Highness Sheikh Dr. Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, attended on Tuesday, the inauguration of the 7th International Arabic Language Conference (IALC) organized by the Arabic Language Educational Center for the Gulf States in Sharjah in cooperation with the Ministry of Education, which is being held over two days in the University City under the title “Teaching and Learning the Arabic Language, Looking Towards The Future: Requirements, Opportunities and Challenges and under the slogan “In Arabic We Create” .
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New record for Dubai as luxury home sales hit US$ 7.6bn in 2023
The total number of US$10 million plus home sales in Dubai grew by 92.4%to 431 sales during 2023, according to analysis carried out by global property consultancy, Knight Frank.
The total value of sales above this price point grew by 91% last year to US$ 7.6 billion, 28% of which was achieved in Q4 alone.
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Emirates’ owner Investment Corporation of Dubai unveils new logo
Dubai: The Government of Dubai’s principal investment arm - Investment Corporation of Dubai (ICD) - has revealed a rebrand of its visual identity by incorporating a new logo.
Going forward, the Corporation will be known by its acronym ‘ICD’, the wealth fund said in a statement on Tuesday. The rebrand also coincides with ICD’s move to its new headquarters in Dubai’s latest landmark - One Za’abeel -developed and owned by ICD.
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Bahrain participates in World Economic Forum
The Kingdom of Bahrain is participating in the annual meeting of the World Economic Forum (WEF), taking place from 15th to 19th January, under the theme "Rebuilding Trust."
According to the Bahrain News Agency (BNA), the Kingdom's delegation is led by Sheikh Salman bin Khalifa Al Khalifa, the Bahraini Minister of Finance and National Economy.
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As Red Sea issue flares, UAE, Saudi businesses look to suppliers outside of Europe – and keep costs down
Dubai: Businesses in the UAE are looking to source from alternate markets where possible to counter the rising costs associated with shipments from Europe and the longer time needed to come via the Cape of Good Hope.
After the latest incidents in the Red Sea from last week, with the US and the UK launching strike action against Houthi targets, shipping costs from Europe to UAE ports have increased by more than $1,000 a TEU (20-foot container). It has also meant cost increases in other sectors too, with shipments to Jeddah from Dubai, for instance, seeing a sharp increase in recent days.
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Dubai Lynx announces first wave of speakers
Dubai Lynx, MENA’s leading platform for creative excellence and effectiveness, has announced the first wave of speakers confirmed to take to the stages this March.
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‘Inclusivity a key factor in our success; COP28 had to be a COP of action, COP for all’: Sultan Al Jaber
Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology and COP28 President, told the Emirates News Agency (WAM) that the UAE should be very proud of its role in achieving this truly historic outcome achieved at the 28th edition of the UN Climate Change Conference.