Sales of gold, jewellery and diamonds in Dubai reached AED 274 billion last year.
That's an increase of three per cent compared to 2017, according to the Dubai Gold and Jewellery Group.
Meanwhile, a new report from Dubai's Department of Economic Development found that more than 4,000 companies now operate in the gold sector in the emirate.
Indians were the top nationality for investing in the sector, followed by citizens from Pakistan, the UK and Saudi Arabia.
UAE Central Bank announces Monetary Bills auction
The Central Bank of the UAE (CBUAE) has announced an auction of Monetary Bills (M-Bills) on September 2, 2024. The auction includes four issues of M-Bills Treasury bonds.
ADNOC deploys AI-enabled process optimisation technology
ADNOC announced an AI-enabled process optimisation technology, Neuron 5, will be rolled out to all its facilities after being tested at ADNOC Onshore’s Northeast Bab (NEB) field and ADNOC Gas’s Taweelah gas compression plant.
Dubai launches sustainable business label
Coinciding with the UAE’s "Year of Sustainability", Dubai Chamber of Commerce, one of the three chambers operating under the umbrella of Dubai Chambers, has announced the launch of a Environmental, Social, and Governance (ESG) Label to promote sustainable business practices.
Canada to impose 100% tariff on Chinese EVs, including Teslas
Canada, following the lead of the United States and European Union, said it will impose a 100 per cent tariff on imports of Chinese electric vehicles (EVs) and announced a 25 per cent tariff on imported steel and aluminum from China.
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