Dubai / Emirates Business The total cash deposits placed at the UAE Central Bank surged to AED223.26 billion in 11 months, a growth of 9 percent from AED204.8 billion by end of October. In the meantime, withdrawals from the Central Bank amounted to AED222.969 billion in 11 months, an increase of 11.3 percent from AED206.6 billion during the per- iod ...

ABU DHABI / Reuters UAE Energy Minister Suhail bin Mohammed Al Mazroui said on Monday that OPEC and non-OPEC oil producers plan to announce in June an exit strategy from global supply cuts, but that does not mean the pact will end by then. Mazroui said it was premature to talk about the form or shape of such an exit ...

Dubai / WAM November’s data signalled a solid upturn in Dubai’s private sector business conditions. Steep growth in both output and inflows of new work contributed to the latest expansion, the Emirates NBD Dubai Economy Tracker. The seasonally adjusted Emirates NBD Dubai Economy Tracker Index – a composite indicator designed to give an accurate overview of operating conditions in the ...

DUBAI / Emirates Business The Middle East remains the world’s most important trading partner in the region despite a fall in oil prices, according to a report by World Trade Organisation (WTO). The report stated that the Middle Eastern countries recorded exports of $765.8 billion and imports of $665.2 billion in 2016. The region recorded the highest exports growth (+4 ...

Abu Dhabi / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, received at Al Bahr Palace on Monday the participants at the conference of the Forum for Promoting Peace in Muslim Societies, who were accompanied by Dr. Mohammed Matar Al Kaabi, Chairman of the General ...

Abu Dhabi / Emirates Business Reem Mall, Abu Dhabi’s new up and coming entertainment, dining and shopping destination, announced a significant new partnership with Azadea Group, the premier lifestyle retail company which boasts an infrastructure of more than 650 stores spread across a dozen countries of the Middle East and North Africa (MENA) region. As part of the agreement, Azadea ...

RAS AL KHAIMAH / Emirates Business Ras Al Khaimah Economic Zone (RAKEZ), the umbrella authority of RAK Free Trade Zone (RAK FTZ) and RAK Investment Authority (RAKIA), has been named as the most cost-effective economic zone by the prestigious fDi Global Free Zones of the Year Awards 2017. Sweeping the Bespoke Category – Set-up Cost Reduction award, RAKEZ stood out ...

DUBAI / WAM The UAE Financial Markets Association (UAE FMA), announced the launch of the ‘Emiratisation Optimal Performance Scheme’ to encourage and support the local banking industry in implementing efficient nationalisation strategies. The programme launch in Dubai was attended by VIP government authority representatives, UAE bank CEOs and senior finance professionals. The programme’s overarching aim is to help the industry ...

Abu Dhabi / WAM With days remaining till the start of the 11th Al Dhafra Festival, camel caravans are already arriving at the opened desert grounds on the edge of the Empty Quarters, setting up tents and camel pens for one of the most impressive annual Bedouin gatherings. This year, the Festival will take place from December 14-28, on the ...

Abu Dhabi / WAM The Emirates Environmental Group (EEG) announced the 16th edition of the ‘Clean Up UAE’ campaign to be launched on the 16th December, under the patronage of Sultan bin Saeed Al Mansouri, Minister of Economy, at the Dubai Al Ain Road, near Dubai Outlet Mall. Al Mansouri said that environmental protection practices are one of the most ...