Tuesday 21 January 2020

UAE gold, diamond trade in 2018 tops $70bn

The value of the UAE’s trade in raw and semi-worked gold and diamonds in 2018 amounted to Dh258.4 billion ($70.3 billion), a media report said. The gold and diamond trade accounted for around 15.8 percent of the UAE’s total non-oil trade in 2018, valued at Dh1.628 tri


Investcorp to invest $130m in Indian real estate

Leading global alternative asset management firm Investcorp has raised $130 million in anchor commitments which will primarily provide last-mile funding in India, a market currently going through a liquidity crunch.    BAe Systems Pension Funds Investment M


Muqassa obtains first licence in Saudi Arabia to clear securities

Saudi Arabia's Capital Market Authority (CMA) Board has authorised Securities Clearing Centre Company (Muqassa) as the first Centre Counterparty to conduct securities clearing services in the Saudi Capital Market and the first Qualified Centre Counterparty (QCCP) in Saudi Arabia.


Dubai targets Dh2 trillion non-oil trade by 2025

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, today announced new Dh2 trillion ($544 billion) target for Dubai's non-oil foreign trade by 2025.   Presiding over the second meeting of Dubai Council, he


Sheikh Mohammed launches Dubai Future District

A new district under the name of Dubai Future District dedicated to the new economy will take shape in Dubai as per the directions of  HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai.   Sheikh Mohammed, during the


Emirates Islamic contributes $544,000 to MBRU

Emirates Islamic, one of the leading Islamic financial institutions in the UAE, has contributed Dh2 million ($544,000) to Mohammed Bin Rashid University of Medicine and Health Sciences (MBRU). The contribution, which is provided through Emirates Islamic’s Charity Fund, will


Sharjah budget raises spending by 2pc to $7.92bn

The UAE emirate of Sharjah has forecast a 2 per cent increase in spending this year totalling Dh29.1 billion ($7.92 billion), compared to 2019 budget.   The approved budget will see an increase in expenses across several sectors including infrastructure, social


ADX to release sustainability report during H1

Abu Dhabi Securities Exchange (ADX) said that it will issue its first Environmental, Social & Governance (ESG) report in the first half of 2020. The report will be issued annually and is the first of its kind in the region. ADX is participating in the "Second Abu Dhabi S


UAE-Japan non-oil trade tops $130bn in 10 years

The total value of non-oil trade between the UAE and Japan reached Dh481.34 billion ($130.8 billion) over the past 10 years from 2009 to 2019, a media report said. These statistics highlight the growing trade and economic relations between the two countries, with the value of the


Visa to acquire fintech startup Plaid for $5.3bn

Visa, a global leader in digital payments, said it has signed an agreement to acquire Plaid, a financial technology start-up, for a total purchase consideration of $5.3 billion. Plaid’s products enable consumers to conveniently share their financial information with thousan

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