“The decision will undoubtedly attract and welcome new and large investment in the country. It will also be conducive to perpetuate existing business established by expatriate community.”
Sheikh Hamdan’s remarks came during a meeting with Pavel Durov, Founder and CEO of Telegram. Globally headquartered in Dubai, Telegram is valued at more than $20 billion, and has more than 570 million users, out of which 100 million were acquired in January alone.
The trade of precious metals and stones is a key pillar of the UAE’s economic diversification plan. In Dubai, the highest traded commodities by value in 2019 were gold, jewellery and diamonds, which contributed AED 370 billion, a 7 percent growth from 2018.
The HPD focuses on the health and mental aspect of community members, including the challenges they face after returning to work in the light of the Covid-19 pandemic.
Regional and multi-national financial institutions are rolling out digital platforms to transform customer experiences, optimise costs, and meet data regulations. As a result, Clifford Chance says Mena’s Fintech market will top $2.5 billion by 2022.
A survey of Norway’s central bank (CB) has showed sharp decline in business activities and investment. Norwegian companies have sharply cut their investment plans because of the coronavirus outbreak and a subsequent decline in the price of crude oil, the country’s main export, a central bank business survey showed on Tuesday.
The Saudi Arabia Monetary Authority (SAMA) injected $13.3 billion into the economy; Saudi banks deferred loan payments for all public and private healthcare personnel for three months.
Demand for the safe-haven commodity has soared during the coronavirus pandemic and it is not only professional investors who are cashing in, but small businesses too.
This is another testament to the success of the country's financial and economic vision and policies, and the strength and stability of its economic, financial and credit sectors.