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The assets of UAE-based Sharia-compliant banks grew to AED607.8 billion by the end of October 2022, statistics by the Central Bank of the UAE have shown.On an annual basis, the assets rose by 2.1 percent versus about AED595.3 billion in October 2021.Ac…

OPEC daily basket price stood at US$78.23 a barrel Wednesday, 11th January 2023, compared with US$77.00 the previous Tuesday, according to OPEC Secretariat calculations.The OPEC Reference Basket of Crudes is made up of the following: Saharan Blend (Alg…

Dubai real estate market recorded 432 sales transactions worth AED1.45 billion, in addition to 73 mortgage deals of AED464.03 million, and 20 gift deals amounting to AED18.34 million on Thursday, data released by Dubai’s Land Department (DLD) showed.Th…

The United States National Oceanic and Atmospheric Administration (NOAA) has calculated that in 2022 the largest economy in the world has lost $162 billion to extreme weather events, including hurricanes, temperature rise, drought, and snowstorm, comme…

The total foreign assets held by the Central Bank of the UAE (CBUAE) increased on a monthly basis by 0.41 percent to AED426.03 billion at the end of last October, compared to AED424.3 billion in September 2022, an increase equivalent to AED1.73 billion…

Investcorp, a Bahrain-based asset manager which counts Mubadala Investment Company as its biggest shareholder, announced today that it is planning to invest up to $1 billion in the real estate market in the GCC over the next five years.This follows Inv…

Mubadala Investment Company PJSC (Mubadala), an Abu Dhabi sovereign investor, and National Resilience, Inc. (Resilience), a technology-focused manufacturing company dedicated to broadening access to complex medicines, have signed a deal to further adva…

Arif Amiri, CEO of Dubai International Financial Centre (DIFC) Authority, affirmed that the centre has become a major engine for economic growth in Dubai and the UAE, with its contribution of about 5 percent of the value of the nominal GDP of the emira…