Latest news with #AED2
Sharjah 24
2 days ago
- Business
- Sharjah 24
Gross banks' assets up by 1.9% to AED4,719.4 bn. at end of March
The increase was due to AED5.1 billion growth in currency in circulation outside banks, overriding the AED1.4 billion decrease in monetary deposits. The money supply aggregate M2 increased by 3.3%, increasing from AED 2,360.3 billion at the end of February 2025 to AED2,437.7 billion at the end of March 2025. M2 increased because of an elevated M1, and AED73.8 billion increase in Quasi-Monetary Deposits. The money supply aggregate M3 also increased by 2.9%, from AED2,811.7 billion at the end of February 2025 to AED2,893.7 billion at the end of March 2025. M3 increased due to the growth in M2, and AED4.5 billion increase in government deposits. The monetary base increased by 2.0%, from AED816.6 billion at the end of February 2025 to AED833.1 billion at the end of March 2025. The growth in the monetary base was driven by increases in currency issued by 4.1% and in reserve account by 62.0%, overriding the decrease in banks & OFCs' current accounts & overnight deposits of banks at CBUAE by 64.2% and in monetary bills & Islamic certificates of deposit by 6.3%. Gross banks' assets, including bankers' acceptances, increased by 1.9% from AED4,632.2 billion at the end of February 2025 to AED4,719.4 billion at the end of March 2025. Gross credit increased by 1.6% from AED2,204.3 billion at the end of February 2025 to AED2,240.0 billion at the end of March 2025. Gross credit increased due the combined growth in domestic credit by AED19.5 billion and foreign credit by AED16.2 billion. The growth in domestic credit was due to increases in credit to the; public sector (government-related entities) by 0.2%, private sector by 1.4% and non-banking financial institutions by 1.9%, while credit to the government sector decreased by 0.3%. Banks' deposits increased by 2.3%, from AED2,871.5 billion at the end of February 2025 to AED2,936.4 billion at the end of March 2025. The increase in bank deposits was driven by the shared growth in resident deposits by 2.4%, settling at AED2,687.8 billion and in non- resident deposits by 0.4%, reaching AED248.6 billion. Within the resident deposits; government-related entities deposits increased by 4.3%, private sector deposits increased by 3.1% and non-banking financial institutions deposits increased by 5.1%, while deposits to the government sector decreased by 2.3%, by the end of March 2025.
Emirates Woman
03-06-2025
- Business
- Emirates Woman
Editor's Picks: 35 seriously good designer sale finds we can't keep to ourselves
From bold boots to covetable bags, you'll find all the must-have styles in this edit, whether it's for an outfit refresh or gifting something special for your loved ones this Eid Al Adha. Here, Emirates Woman curates the best of designer sale finds – from Celine, Victoria Beckham, Alaïa, and more – to shop from your favourite online retailers. OUNASS: Up to 60% off Ounass's end-of-season sale has officially landed — and it's brimming with covetable pieces worth adding to cart. Expect up to 60% off across a curated edit of luxury and contemporary labels, from cult-status accessories by DeMellier and Manu Atelier to statement heels from Paris Texas and party-ready pieces by The Attico. Your summer wardrobe refresh? Sorted. BLOOMINGDALE'S: Up to 70% off If you needed a sign to shop, this is it. Bloomingdale's is offering up to 70% off across its designer lineup — think Celine sunglasses, sleek handbags, and occasionwear ready to impress. With two-hour delivery across the UAE, it's perfect for last-minute gifting or spontaneous outfit upgrades. MYTHERESA: Extra 10% off sale items The Mytheresa sale just got even better. For a limited time only, enjoy an extra 10% off already marked-down styles with the code SALE10 (minimum spend: €500/AED2,092). From wardrobe staples to designer finds, now's the time to snag those wishlist items before they disappear. NET-A-PORTER: Up to 50% off The seasonal sale at Net-a-Porter is in full swing — and it's as chic as ever. With up to 50% off across all categories, this is your chance to score standout pieces from the likes of Khaite, Jean Paul Gaultier, and Jacquemus. Be warned: these fresh finds won't stay in stock for long. Scroll through the gallery below for 35 editor-approved sale finds: – For more on luxury lifestyle, news, fashion and beauty follow Emirates Woman on Facebook and Instagram Images: Instagram @mittth
Al Etihad
19-05-2025
- Business
- Al Etihad
Hamdan bin Zayed attends 4th Make it in the Emirates
19 May 2025 23:24 ABU DHABI (ALETIHAD)His Highness Sheikh Hamdan bin Zayed Al Nahyan, Ruler's Representative in Al Dhafra Region, affirmed that thanks to the vision of His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, the UAE has become a major hub for advanced visiting the annual Make it in the Emirates exhibition at the Abu Dhabi National Exhibition Centre, His Highness pointed to the great importance the wise leadership places on strengthening the industrial sector and providing it with highly qualified national talent, as it is a fundamental pillar for the growth, development, and diversification of the local economy. The fourth edition of Make it in the Emirates brings together senior decision-makers, government and private sector officials, entrepreneurs, investors, industrialists, experts, and the visit, His Highness was briefed on the latest industrial products, technologies, and solutions, which are on show at the exhibition, highlighting the growth of the UAE's industrial sector and its role in economic diversification and global Highness expressed pride in the national achievements and innovative initiatives he witnessed, affirming that the Make it in the Emirates initiative is a strategic platform that reflects the leadership's vision for building a diverse and sustainable national economy driven by innovation and advanced his visit, His Highness officially launched Serh Group, a UAE-based leader in oil and gas operations, logistics services, and manpower supply. The launch ceremony, attended by senior officials and business leaders, also saw the unveiling of the group's new corporate identity and logo, inspired by the resilient Serh tree, a symbol of strength, flexibility, and sustainability in the UAE's natural ceremony also featured the announcement of a strategic agreement between Serh Group and ADNOC, valued at AED2 billion. Under the agreement, Serh will supply ADNOC with a wide range of equipment and machinery over a five-year period to support its key energy sector agreement was signed in the presence of His Excellency Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and Managing Director and Group CEO of ADNOC, and Captain Mohamed Juma Al Shamisi, Chairman of Serh Group. The signatories included Saif Al Falahi, Executive Director of Business Support and Special Tasks at ADNOC, along with other senior on the occasion, HE Dr. Sultan Ahmed Al Jaber said: 'In line with the leadership's directives to support economic, industrial, and logistical growth in the UAE, ADNOC is pleased to expand and strengthen its cooperation with Serh Group. This partnership reaffirms our commitment to building strong and collaborative alliances that support our strategic objectives. Together, we will explore new opportunities that deliver long-term value and drive growth for both ADNOC and Serh Group.'Captain Mohamed Juma Al Shamisi, Chairman of Serh Group, said: 'The launch of our new identity marks a significant milestone in our journey as we provide integrated, innovative, and sustainable solutions to our clients in the oil and gas, logistics, and manpower sectors. Our legacy of excellence and deep expertise positions us to lead and grow in service of the UAE's industrial and economic development.'Formerly known as Al Dhafra Technical Services, Serh Group is the result of a merger between Al Dhafra Cooperative Society and Delma Cooperative Society, both established by Emiri Decrees from the late Sheikh Zayed bin Sultan Al Nahyan in 1976 and 1981, respectively. Over time, the group has evolved into a trusted provider of integrated services supporting Abu Dhabi's economic and social development. Inspired by the Serh tree – over a century old and uniquely resilient in the UAE environment – Serh Group draws strength from its roots to move forward with confidence toward a more sustainable and promising future. Make it in the Emirates Continue full coverage
Hi Dubai
15-05-2025
- Business
- Hi Dubai
Hamdan bin Mohammed Approves AED2 Billion Housing Package for Emiratis in Dubai
H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, has approved a housing package worth over AED2 billion to support Emirati families, reaffirming the government's commitment to citizen welfare and sustainable urban development. The announcement came during Sheikh Hamdan's visit to the Wadi Al Amardi housing project, where he reviewed ongoing developments and inspected model homes designed to meet modern living standards. He also examined future plans that include over 1,100 residential units across four key areas in Dubai: Wadi Al Amardi, Al Aweer, Hatta, and Oud Al Muteena. Sheikh Hamdan emphasized that the new housing projects aim to provide Emirati families with modern, well-integrated communities featuring advanced infrastructure, essential public services, and sustainable design. He praised the efforts of the Mohammed Bin Rashid Housing Establishment, noting that enhancing the well-being and stability of citizens remains a top priority for the Dubai government. Currently, 1,163 homes are under construction. These include 432 units in Wadi Al Amardi valued at AED767.9 million, 398 in Al Aweer at AED734.1 million, 213 in Hatta worth AED508.5 million, and 120 in Oud Al Muteena at AED113.8 million. The housing initiative aligns with Dubai's broader vision to develop inclusive, future-ready communities that reflect the needs and aspirations of its people. News Source: Emirates News Agency
Hi Dubai
08-05-2025
- Business
- Hi Dubai
UAE Central Bank Reports 1.8% Rise in M1 and M2, 0.9% Growth in Credit for February
The Central Bank of the UAE reported broad growth across key monetary indicators in February 2025, highlighting continued strength in liquidity, deposits, and credit activity within the banking sector. In its latest Monetary and Banking Developments report, the bank said M1 money supply rose by 1.8% to AED982.9 billion, driven by an increase of AED4.1 billion in currency in circulation and AED13.5 billion in monetary deposits. M2, which includes M1 and quasi-monetary deposits, also rose by 1.8%, reaching AED2,361.9 billion. The growth was supported by a AED25 billion surge in quasi-monetary deposits. Meanwhile, M3 increased by 0.8% to AED2,813.4 billion, despite a AED19 billion decline in government deposits. The monetary base expanded by 3.1% to AED816.6 billion. Key contributors included a 3.4% rise in currency issued, an 11.4% jump in current and overnight bank deposits at the Central Bank, and a 6.2% increase in monetary bills and Islamic certificates of deposit. These gains offset a 6.1% drop in reserve account balances. Gross bank assets, including bankers' acceptances, rose by 1.6% to AED4,636.8 billion. Gross credit increased by 0.9%, reaching AED2,205.1 billion. This was driven by AED1.7 billion growth in domestic credit and AED17.1 billion in foreign credit. Credit to the private sector rose by 0.7%, while lending to non-banking financial institutions jumped 5.2%. Credit to the government and related entities declined by 1.4% and 2.0%, respectively. Total bank deposits rose 1.2% to AED2,874.6 billion. Resident deposits grew by 0.8%, while non-resident deposits surged 5.1%. Within resident deposits, the private sector, non-banking institutions, and government-related entities all recorded increases. Government sector deposits fell by 4.0%. News Source: Emirates News Agency
