Economics

Dubai launches sample constitution toolkit to empower family businesses

The launch of this comprehensive guide is part of the centre's efforts to provide practical support to family businesses

Oil prices rise amid declining U.S. crude inventories, Fed rate cut expectations

Brent futures, the global oil benchmark, rose 32 cents, or 0.4 percent, to $85.40 per barrel

UAE citizens can now claim VAT refunds for new home construction via new smart app

The move aims to provide the world's best government services by eliminating bureaucracy and adopting efficient models

Oman’s GDP expands 1.7 percent in Q1 2024, reaching $24.77 billion

Crude petroleum activities declined by 3.3 percent, recording OMR2.55 billion

Dubai Chambers, FTA collaborate to strengthen tax awareness among private sector

The workshop covered key taxes for UAE businesses, including Excise Tax and VAT, and the processes for tax returns

Oil prices stabilize amid declining U.S. reserves, slower China demand

Brent crude oil futures were down by 4 cents to $83.69 per barrel

Oman Central Bank issues T-bills worth over $80.93 million

The value of the 28-day maturity treasury bills allocated was $38.97 million

Saudi Arabia’s annual inflation rate rises to 1.5 percent in June 2024: GASTAT

Food and beverage prices increased by 1.1 percent, driven by a 6.5 percent rise in vegetable prices

UAE Central Bank’s gold holdings reach $5.54 billion by April end, up 12 percent year-on-year

Reserves increased on a monthly basis by 3.5 percent from AED19.615 billion in March 2024

ADNOC, Mubadala collaborate to cultivate Emirati talent for UAE’s sustainable future

The move aims to develop Emirati talent for crucial sectors through advanced training

DIFC Courts records strong uptake of services in H1 2024, handles 480 cases worth $285.86 million

The Small Claims Tribunal (SCT) also saw strong operational capacity, with 265 claims filed, totaling AED27.2 million

Oil prices dip amidst Chinese economic slowdown, anticipation of Fed interest rate cuts

Brent crude futures fell 21 cents, or 0.25 percent, to $84.64 per barrel