Browsing: Business

India and Russia are advancing on a $100 billion trade target, with progress in currency settlements, banking, and balanced trade amid sector diversification and longstanding economic ties.

UAE’s diamond sector is projected to exceed $40 billion this year, boosting the nation’s rank as the third-largest global diamond market, per Ministry of Economy’s Juma Al Kait.

ADNOC Gas finalizes plans to acquire a majority stake in Ruwais LNG by 2028, aligning with its $15 billion CAPEX initiative and advanced low-carbon facility goals.

Russia’s gold holdings hit a record $207.7 billion in October, with gold now making up 32.9% of international reserves, reflecting a shift in strategy by the Bank of Russia.

Net international reserves in UAE’s banking sector grew by AED127.5 billion, reaching AED1.273 trillion by July 2024, with significant contributions from the Central Bank.

Burjeel Holdings reported Q3 2024 revenue growth of 14%, reaching AED 1.3 billion due to increased patient volume and strategic expansions, aligning with UAE healthcare goals.

IATA reports global air cargo demand grew 9.4% in September 2024, continuing a robust trend of 14 consecutive months of growth, driven by high international operations.

Russia’s Deputy Industry and Trade Minister, Mikhail Ivanov, confirmed UAE as Russia’s largest energy partner in MENA, highlighting extensive collaborations showcased at ADIPEC 2024.

Aldar has launched Mamsha Gardens on Saadiyat Island, featuring 493 homes across seven buildings with restaurants, retail, and community theatre. Sales open November 9 for all nationalities.

The Central Bank of the UAE reported a 0.6% increase in M1 money supply, reaching AED889.3 billion by July’s end, along with gains in M2 and M3, reflecting steady growth in the financial sector.