Emirates Development Bank (EDB), the key financial engine of economic development and industrial advancement in the UAE, has unveiled a record increase in total financing since the launch of EDB’s strategy in 2021 to AED10.4 billion, bringing its cumulative contribution to the nation’s industrial GDP impact to AED4.9 billion.
Category: Economy
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Gross written premium increased by 12.7% in Q4 2023 to AED53.2 billion: CBUAE
The UAE insurance sector continued to grow in Q4 2023, as reflected by the increase in the gross written premiums. As of year-end, the number of licenced insurance companies in the UAE remained at 60, the CBUAE announced in its quarterly economic report Q4, 2023.
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Gold prices in Dubai Sunday 31 March 2024
ALBAWABA – Gold prices in Dubai, the United Arab Emirates (UAE) today, Sunday, 31 March , opened at a selling price of AED 8199.33 per ounce, according to UAEgoldprices.com.
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UAE: Petrol, diesel prices for April 2024 announced
Abu Dhabi/Dubai: The UAE fuel price committee on Sunday announced petrol and diesel prices for the month of April 2024.
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Gold holds steady on Thursday
Gold prices steadied on Thursday, with spot gold up 0.1% to $2,195.59 per ounce, as of 0503 GMT, Reuters said. Also, US gold futures edged 0.2% higher to $2,195.10. Spot silver was steady at $24.68 per ounce, platinum rose 0.7% to $899.75 and palladium climbed 1.4% to $997.41. WAM
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UAE banking sector poised for continued growth in 2024
The UAE banking sector continued its growth momentum last year and is poised for further growth and recovery in 2024, thanks to the success of the Central Bank of the UAE's (CBUAE) strategies and policies in setting the necessary frameworks and regulations to deliver sustainable growth for the sector, and its commitment to promoting economic and financial stability in the UAE.
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MoF launches digital public consultation on implementation of Global Minimum Tax in UAE
The UAE Ministry of Finance (MoF) today announced the launch of a digital public consultation to gather the views of relevant stakeholders on the implementation of the Global Minimum Tax (GMT) or Global Anti-Base Erosion Model Rules (Pillar Two) (GloBE Rules) as well as other tax matters in the UAE. The consultation will be open from 15th March 2024 to 10th April 2024, and accessible via the Ministry’s website or the UAE’s Government Portal (link here).
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UAE Government revenues reach AED155.9 billion in Q4 2023: MoF
The UAE Ministry of Finance (MoF) today published the preliminary results of the UAE Government Finance Statistics Report for the fourth quarter of 2023, unveiling that the government’s revenues amounted to AED155.9 billion.
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UAE sees over 25% growth in international card spending in 2023
Total spending using international cards in the UAE witnessed a growth of over 25% during the year 2023, a report said.
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Gold prices in Dubai Wednesday 13 March 2024
Gold prices in Dubai, the United Arab Emirates (UAE) today, Wednesday, March 6 opened at a selling price of AED 7930.93 per ounce