Rents in Dubai increased a staggering 27.2 per cent in Q3 of this year compared to 2022, with a year-on-year increase of more than 38 per cent for villa rents and more than 19 per cent for apartments.
Category: Economy
UAE: Petrol, diesel prices for November 2023 announced
Fuel prices in the country will fall in November
Gasoline and diesel prices in the country will decrease in November.
Abu Dhabi/Dubai: The UAE Fuel Price Committee on Tuesday announced the gasoline and diesel prices for the month of November 2023.
Borouge reports 22% Q3 2023 net profit increase
Borouge Plc has reported a net profit of $282 million (AED1.04 billion) for the quarter ended 30th September, marking a 22% increase over the previous quarter.
UAE economy expands by 3.7% in first half on ‘staggering’ non-oil growth
The UAE economy experienced a 3.7 percent annual expansion in the first half of the year, driven by strong growth in the non-oil sector. This growth aligns with the country's ongoing efforts to diversify its economy, according to Minister of Economy Abdulla bin Touq.
Gold prices in Dubai Today Monday 30 October 2023
Gold prices in Dubai, United Arab Emirates (UAE), commenced at AED 7,337.80 per ounce today, Monday, October 30, 10:02 a.m., taking into account the 5% value-added tax (VAT) applicable to gold in the UAE.
Liquidity Group helps provide $300m to UAE start-ups to address funding gap
Liquidity Group has facilitated late-stage funding ranging from $20 million to $50 million across various industries in the Emirates and the Middle East through its Mars Growth Capital fund, contributing to over $300 million in funding for UAE start-ups in recent years.
Sharjah Islamic Bank Completes Integrated Connectivity Through Buna Platform
The Sharjah Islamic Bank (SIB) announced the completion of the integration process for its financial and banking operations in the field of payments with the Arab Regional Payments Clearing and Settlement Organization (Buna), a centralised cross-border payment system owned by the Arab Monetary Fund.
UAE banks’ investments exceed AED 580 billion by end of August, reaching an all-time high
UAE banks' investments surpassed AED 580 billion, hitting a record high in August 2023, according to the Central Bank of the UAE. The investment grew by 19.5 percent year-over-year to reach AED 585.4 billion by the end of August 2023, up AED 95.6 billion from AED 489.8 billion in August 2022.
Multiply Group announces 337% YoY increase in net profit excluding fair value changes for Q3-23
Multiply Group (ADX: MULTIPLY) today announced a net profit excluding fair value changes of AED331 million for Q3 2023. This marks a significant 337% increase from AED 76 million reported in the same quarter of 2022. In Q3, 2023, the Group’s net profit, including fair value changes in investments , stands at AED 145.77 million.
First Abu Dhabi Bank third-quarter profit climbs after revenue boost
First Abu Dhabi Bank, the largest lender in the UAE, has reported a significant increase in its net profit for the third quarter. The bank's core business growth has contributed to a 46% rise in net profit, reaching Dh4.3 billion ($1.17 billion) for the three-month period ending in September.