The Sharjah Chamber of Commerce and Industry (SCCI) and the Embassy of Latvia in the UAE have highlighted the importance of organising joint events and exchanging visits between trade delegations to enhance the economic and investment cooperation between the two friendly countries. This came during the meeting between Abdullah Sultan Al Owais, Chairman SCCI, and […]Read More
The Arab Monetary Fund, AMF, hold on Thursday December 10, 2020 an online workshop titled “Buna compared to other payment systems from around the globe: What makes Buna a key player.” The workshop sessions focused on positioning Buna – the cross-border payment system owned by the AMF – against the current global landscape and future […]Read More
The Dubai International Financial Centre, DIFC, the leading global financial centre in the Middle East, Africa and South Asia, MEASA, region, announced that Ebury, a leading global FinTech backed by Santander Bank offering cross-border financial services and risk management has been granted a Financial Services licence to carry out the regulated activity of providing money […]Read More
The price of OPEC basket of thirteen crudes stood at US$46.91 a barrel on Wednesday, 25th November 2020, compared with $45.51 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Zafiro (Equatorial Guinea), Rabi Light (Gabon), Iran […]Read More
Dubai Islamic Bank, DIB, rang the market-opening bell today to celebrate the listing of a US$1 billion Sukuk on Nasdaq Dubai. The Sukuk achieved a strong 5.7 times subscription rate, attracting more than 150 high-quality investors from the Middle East and around the world. The profit rate of 4.625 percent per annum is the lowest […]Read More
The Business Registration and Licensing, BRL, sector in Dubai Economy issued 32,158 new licences during the first 10 months of 2020, an increase of 6% compared to the same period last year. Among the new licenses issued during the first 10 months, 57% were professional and 42% commercial. The numbers, recorded on the Business Map […]Read More
Established in 2005, the Dubai Gold & Commodities Exchange, DGCX, today stands as the largest and most diversified derivatives exchange in the Middle East, providing guaranteed settlement and reduced counterparty risk through the Dubai Commodities Clearing Corporation, DCCC, a 100 percent owned subsidiary by DGCX. Over the last 15 years, the exchange has traded a […]Read More
The Supreme Petroleum Council (SPC) announced today the discovery of substantial recoverable unconventional oil resources located onshore, estimated at 22 billion stock tank barrels (STB), and an increase in conventional oil reserves of 2 billion STB in the Emirate of Abu Dhabi. The announcements were made following the SPC meeting presided over by His Highness […]Read More
The innovation mandate has expanded for the Dubai International Financial Centre, DIFC, the leading global financial centre and FinTech hub in the Middle East, Africa and South Asia, MEASA, region. The DIFC will set new standards for financial innovation in the region, building on its successful industry reputation for providing the region’s most enabling business […]Read More
Jebel Ali Port, DP World’s flagship port handled over 5 million metric tonnes of metal, steel and construction materials in 2019. At an average, the port has handled around 4.5 million TEU from 2010 to 2019, which equates to 1 billion metric tonnes until 2019. Over 50 million metric tonnes of general cargo has been […]Read More
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