New law will allow companies to apply to government body for foreign ownership greater than 49% A new foreign direct investment law, which will allow increased levels of foreign ownership of companies incorporated in the United Arab Emirates, was hailed as a ‘really positive...

Mubarak Rashed Al Mansoori emphasised that the banking sector is liquid and strong as the credit growth to private sector increased 6.5 per cent during the first 9 months The merger of the three Abu Dhabi banks - Abu Dhabi Commercial Bank, Union National Bank and Al Hilal Bank - is at...

Trade through free zones grew 22 percent to reach $107.3bln in the first nine months of 2018 DUBAI - Signifying Dubai’s rising role in global trade, the emirate’s external non-oil trade in the first nine months of 2018 reached AED 965.3 billion. Re-exports registered 13 percent growth...

Growth is attributed to rising oil prices, which grew by 35% during the past 12 months Government deposits in UAE-based banks hit an all-time-high of AED286 billion by the end of September 2018, up AED74 bn in the first nine months of the year, according to CBUAE statistics. The...

Knight Frank research shows that prices for residential units within 5 minutes' walking distance of a metro have grown about 51 percent since Q1 2010 Residential units with 15 minutes walking distance of a metro station on Dubai’s Red Line have outperformed the wider residential...

UAE Ministry of Human Resources and Emiratisation says Sunday November 18 will be a holiday for private sector workers The UAE Ministry of Human Resources and Emiratisation (MoHRE) has announced that Sunday November 18 will be a holiday for private sector workers. The announcement...

Dubai Customs data shows that China, India and the US are Dubai's top three trading partners so far in 2018 Dubai’s external non-oil trade for the first nine months of 2018 reached AED965.3 billion ($262.8 billion), it was announced on Tuesday. Re-exports registered 13 percent...

New HSBC survey shows eight out of 10 businesses in the UAE say China will be among the most important export markets of the future Eight out of 10 businesses in the UAE say China will be among the most important export markets of the future, according to new research. HSBC’s...

In a major achievement, Dubai Police has recovered a diamond worth Dh300,000 ($81,663), only 20 hours after it had been stolen from a local jewellery outlet by an Asian couple, a high-ranking police official said. The 3.27 carat gem was recovered after being stolen by the couple from a...

Shuaa Capital CEO says Q4 is expected to be 'another game changing quarter' for financial company Dubai-based Shuaa Capital on Monday reported net profits of AED30.1 million ($8.1 million) for the third quarter of 2018, up 31 percent year on year and the company’s highest quarterly...