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.
Category: Economy
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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
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UAE construction market valued at $94 billion in 2023: Report
The UAE construction market size was $94 billion in 2023 and the market will achieve an AAGR of more than 3% during 2025-2028, according to a report released by GlobalData, a data analytics and consulting company, headquartered in London.
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Gold prices in United Arab Emirates Today Monday 11 March
Gold prices in the United Arab Emirates (UAE) today, Monday, 11 March , opened at a selling price of AED 8002.76 per ounce, according to UAEgoldprices.com.
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Sharjah real estate transactions hit AED 3.1 billion during February
The Real Estate Transactions and Mortgages Movement report issued by the Sharjah Real Estate Registration Department revealed a trading volume of AED 3.1 Billion with 4,458 real estate transactions in February 2024 across various regions and cities.
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Public expenditure of Arab countries hit $957.5 billion in 2022: AMF
The Arab Monetary Fund (AMF) revealed that the total public expenditure of Arab countries combined jumped by 9.8% to $957.5 billion in 2022, compared to $878.9 billion in 2021.
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AED210.7 billion total capital of new economic licences in 2023
The Abu Dhabi's “Business Activity Report” for the year 2023, issued by the Abu Dhabi Department of Economic Development (ADDED), has reported annual growth of major indicators, emphasising the business ecosystem's attractiveness and its ability to attract quality investments, supported by the Emirate's strong economic growth, especially within non-oil sectors which contribute 52.8% of Abu Dhabi's GDP.