Latest news with #AED7.3
Trade Arabia
06-05-2025
- Business
- Trade Arabia
Dubai chamber members' Q1 exports jump 16.8% to $23.4bn
The value of exports and re-exports by Dubai Chamber of Commerce members achieved year-over-year (YoY) growth of 16.8% in first quarter of 2025 to reach AED86 billion ($23.41 billion) in Q1 2025. Dubai Chamber of Commerce is one of the three chambers operating under the umbrella of Dubai Chambers. The achievement reflects the chamber's ongoing efforts to enhance Dubai's competitive business landscape and support the international expansion of companies operating in the emirate. During the same period, the chamber issued 204,240 Certificates of Origin, representing an increase of 7% compared to Q1 2024. The chamber also issued and received 1,656 ATA Carnets with a combined value of around AED 984 million. A total of 18,160 new companies joined Dubai Chamber of Commerce during the three-month period, underlining Dubai's growing appeal as a global business hub with a fully integrated ecosystem. Dubai Chamber of Commerce successfully supported the expansion of 28 local companies into new global markets during Q1 2025, representing a 75% increase compared to the 16 companies supported during the same period last year. Eng Sultan bin Saeed Al Mansoori, Chairman of Dubai Chambers, said: 'Under the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, we are continuing to strengthen our efforts to enhance the private sector's ability to drive sustainable growth in both local and international markets. The chamber's services and initiatives contribute positively to the increasing momentum of trade and investment flows between Dubai and the rest of the world.' Al Mansoori added: 'We remain committed to our pivotal role in supporting economic development by enhancing the competitiveness of Dubai's business environment and fostering constructive public-private partnerships. Through our activities, we are strengthening Dubai's agile, resilient, and sustainable economic model and empowering the business community to capitalise on future opportunities.' Dubai Chamber of Commerce, through its Business Advocacy sector, reviewed 10 laws and draft laws in collaboration with Business Groups during Q1 2025, with 55% of the private sector's recommendations adopted. A total of 55 meetings were held with Business Groups and Councils, including their annual general meetings, representing a 166% increase compared to Q1 2024. The chamber also coordinated four joint meetings between Business Groups and Councils and relevant government entities. In addition, Dubai Chamber of Commerce established the Indonesian Business Council and the Hungarian Business Council during the three-month period. The chamber received 45 mediation cases with a combined value of AED7.3 million, representing a 50% increase in case volume and a 232% rise in total value compared to Q1 2024. Participation in the chamber's business networking events also achieved YoY growth of 17% to reach 1,617 attendees. Enhancing legal awareness As part of its efforts to raise awareness among the business community about key legal and regulatory updates in diverse sectors, the chamber organised 10 legal awareness events during Q1 2025. These attracted 587 representatives from private sector companies operating across a broad range of industries, supporting compliance with laws and regulations and promoting the adoption of best practices. During Q1 2025, Dubai Chambers also participated in the World Government Summit as a Featured Partner. As part of the event, Dubai Chambers hosted a high-level family business roundtable that explored ways to preserve the legacy of family businesses. The roundtable showcased global best practices, as well as the latest governance frameworks that support sustainable growth and effective strategies for the development of the next generation of family business leaders. Organised in collaboration with Dubai Chambers, the roundtable brought together government officials and more than 50 senior executives from leading global family businesses. -
Arabian Business
10-04-2025
- Business
- Arabian Business
UAE bank investments rise to $202bn in January 2025
UAE banks reported a 1 per cent month-on-month increase in total investments, rising by AED7.3 billion to reach AED742.9 billion by the end of January. This represents a 16.1 per cent growth compared to January 2024, according to the Central Bank of the UAE 's latest banking indicators. Investments in securities representing debt on others grew to AED332.3 billion, marking a 26.1 per cent annual increase, according to a statement by the Emirates News Agency (WAM). UAE banking sector growth Held-to-maturity bonds reached AED335.7 billion, showing a 7.9 per cent year-on-year growth despite a 1.1 per cent month-on-month decline. Banks' equity investments settled at AED19.1 billion, reflecting a 19.4 per cent annual growth despite decreasing by 1.5 per cent from the previous month. Other investments totalled AED55.8 billion, up 13.2 per cent year-on-year and 2.2 per cent month-on-month. The Central Bank data also revealed that total credit reached AED2.186 trillion, growing by 9.5 per cent annually, while total deposits exceeded AED2.84 trillion after an 11.8 per cent annual increase. Banking assets surpassed AED4.562 trillion by the end of January, showing an 11 per cent year-on-year growth and a marginal 0.1 per cent increase from December. The UAE Funds Transfer System (UAEFTS) processed transfers exceeding AED1.786 trillion in January, growing by more than 18 per cent. This included AED1.109 trillion in interbank transfers and approximately AED677.64 billion in customer transfers. Image-based cheque processing cleared AED118.48 billion across 1.956 million cheques during the month. Cash withdrawals from the Central Bank amounted to AED19.929 billion, while deposits totalled AED15.217 billion.
Hi Dubai
10-04-2025
- Business
- Hi Dubai
UAE Bank Investments Hit AED742.9 Billion in January, Marking 16.1% Annual Surge
Bank investments in the UAE continued their upward trajectory in January 2025, rising by AED7.3 billion month-on-month to reach AED742.9 billion, according to new data from the Central Bank of the UAE. This reflects a robust 16.1% increase compared to January 2024. Debt securities held by banks saw a significant rise, growing 26.1% annually to AED332.3 billion. Meanwhile, held-to-maturity bonds reached AED335.7 billion—up 7.9% year-on-year but down slightly by 1.1% from December 2024. Equity investments posted a strong 19.4% year-on-year gain, despite a 1.5% dip over the month, settling at AED19.1 billion. Other investment categories also showed resilience, climbing 13.2% year-on-year and 2.2% month-on-month to reach AED55.8 billion. This growth in investments coincides with a healthy expansion in the broader banking sector. Total credit extended by banks reached AED2.186 trillion, up 9.5% from the previous year. Deposits followed suit, rising 11.8% annually to surpass AED2.84 trillion. Banking sector assets stood at AED4.562 trillion by the end of January, marking an 11% year-on-year increase and a modest 0.1% uptick from December. In terms of liquidity and transaction activity, the UAE Funds Transfer System (UAEFTS) processed over AED1.786 trillion in January, a jump of more than 18%. This included AED1.109 trillion in interbank transfers and AED677.64 billion in customer transactions. Cheques cleared through image-based systems totalled AED118.48 billion across nearly 2 million cheques. Cash withdrawals from the Central Bank amounted to AED19.929 billion, while deposits reached AED15.217 billion. These figures reflect continued confidence in the UAE's banking sector, underpinned by strong investment appetite and expanding financial activity across key segments. News Source: Emirates News Agency
Zawya
10-04-2025
- Business
- Zawya
UAE banks investments reach $202bln by end of January
ABU DHABI: The total investments of banks operating in the UAE rose by 1 percent month-on-month, increasing by AED7.3 billion in January to reach AED742.9 billion by the end of the month, marking a 16.1 percent year-on-year growth compared to January 2024. According to banking indicators released today by the Central Bank of the UAE, bank investments in securities representing debt on others grew to AED332.3 billion at the end of January, reflecting a 26.1 percent annual increase. Held-to-maturity bonds rose by 7.9 percent year-on-year but declined by 1.1 percent month-on-month, reaching AED335.7 billion. Banks' investments in equities grew by 19.4 percent year-on-year, despite a 1.5 percent monthly decline, to settle at AED19.1 billion. Other investments increased by 13.2 percent year-on-year and 2.2 percent month-on-month, reaching AED55.8 billion at the end of January. This investment performance coincided with a 9.5 percent annual growth in total credit, which reached AED2.186 trillion, while total deposits grew by 11.8 percent annually to exceed AED2.84 trillion. Banking assets increased by 11 percent year-on-year and by 0.1 percent month-on-month to surpass AED4.562 trillion by the end of January. Statistics from the banking operations released today also showed that the value of transfers processed through the UAE Funds Transfer System (UAEFTS) exceeded AED1.786 trillion in January, reflecting a growth of more than 18 percent. This included AED1.109 trillion in interbank transfers and approximately AED677.64 billion in customer transfers. The value of cheques cleared via image-based processing reached AED118.48 billion in January, involving 1.956 million cheques. Cash withdrawals from the Central Bank amounted to AED19.929 billion in January, while deposits totalled around AED15.217 billion.
