UAE continues to be the top tea re-exporter in the world: MOFT Gold C DMCC proposes launch of first legal tender gold coin DMCC to settle its US$300m Islamic bond by May 2010 Stake of precious metals in UAE's non-oil trade is 26.5 % Dubai Trade, DMCC sign online payment services deal DMCC releases GFMS Gold Survey 2009 in Arabic DME slashes margin on oil hedging deals Dubai to set crude oil selling price based on DME Oman Contract Global pearl industry congregates at the World Pearl Forum in Dubai Dubai gold trade up 53% to US$29bn Commodity price index drop in Abu Dhabi: Abu Dhabi Statistics Centre DGCX Euro Futures hits record daily high Emarat slashes diesel prices again Emarat to slash diesel price DME announces half a million contracts traded since launch Next Page » Archive | Subscribe to Feed What is RSS? UAE FEDERAL GOVERNMENT STRATEGY Download PDF OIL PRICES » SHARE PRICES » DIRHAM RATES » EVENTS AND EXHIBITIONS » A comprehensive guide to current and future events and exhibitions in the UAE UAE YEARBOOKS » The complete UAE Yearbook 2009 in English and French. Comprehensive, up-to-date information on all aspects of the UAE.. UAE AT A GLANCE » Valuable concise reference source on the UAE, covering political system, economy, business, history and heritage, education, women, healthcare, tourism and environment. THE EMIRATES - A NATURAL HISTORY » Natural history of the UAE, covering all animals and plants recorded in the Emirates. THE EMIRATES TOUR » Take an on-line tour of the UAE, including the major cities and islands UAE HISTORY » UAE GOVERNMENT » UAE ECONOMY » UAE INFRASTRUCTURE » UAE SOCIAL DEVELOPMENT » UAE CULTURE & MEDIA » UAE ENVIRONMENT » UAE SPORT » UAE EVENTS » MARINE LIFE OF THE UAE » Turtles are among the many species covered in the marine section of UAEinteract

UAE continues to be the top tea re-exporter in the world: MOFT Posted on 10/03/2010 Initial indicators have shown that the UAE is still the top tea re-exporter of the world for the year 2009, and is set to retain the top position it reached in 2004, according to a study conducted the UAE Ministry of Foreign Trade . The indicators affirm that the UAE continues to play a key role in the international tea trade due to its unique geographic location and provision of competitive logistic and storage services, particularly through the Dubai Tea Trading Centre (DCTT) in Jebel Ali ...  >>MORE

Gold C DMCC proposes launch of first legal tender gold coin Posted on 11/02/2010 The Dubai Multi Commodities Centre (DMCC) has proposed to the UAE Central Bank the launch of a legal tender gold coin which if approved will be the first of its kind in the Middle East. Existing legal tender gold coins such as the Australian Nugget and South African Krugerrand are popular among buyers as a vehicle to invest in pure gold. The proposed design depicts the image of President His Highness Sheikh Khalifa Bin Zayed Al Nahyan on one side and that of the Burj Khalifa, the world's ...  >>MORE

DMCC to settle its US$300m Islamic bond by May 2010 Posted on 02/02/2010 Dubai's Multi Commodity Centre (DMCC), a unit of state-owned conglomerate Dubai World, will not be involved in the repayment of the firm's US$22 billion (Dh80.7bn) debt, its chief executive said yesterday. Malcolm Wall Morris said the company, created in 2002 to make a commodity marketplace, was "incubated" from its parent company's debt troubles. "We are not affected by the Dubai World situation as we are a standalone, incubated entity and we will not be taking part in the debt payment," ...  >>MORE

Stake of precious metals in UAE's non-oil trade is 26.5 % Posted on 19/10/2009 The Ministry of Foreign Trade affirms that UAE has sought to diversify its economy and not to rely on oil as the main source through the promotion of investments in the sectors of tourism, and different industrial and services sectors. The ministry noted that the share of precious metals as a non-oil trade is 26.5% percent of the total foreign trade of the State in 2008 that valued Dh209 billion. In its new exportation bulletin, the ministry stated that UAE has taken several steps to ...  >>MORE

Dubai Trade, DMCC sign online payment services deal Posted on 01/09/2009 Dubai Trade, the innovative online service provider of Dubai World, has signed a deal with Dubai Multi Commodities Centre, on the trade portal's ROSOOM online payment services. This allows registered members of the commodities business leader to make use of the various transaction options available on the widely accessed platform. ROSOOM the centralised e- payment gateway offers a wide range of electronic payment services for customers to make online transactions with leading commercial ...  >>MORE

DMCC releases GFMS Gold Survey 2009 in Arabic Posted on 01/09/2009 Dubai Multi Commodities Centre (DMCC) today announced that it released the Arabic-language edition of the GFMS Gold Survey 2009, the single most comprehensive, independent and authoritative knowledge tool on the global gold industry. The current edition is the 7th edition of the Gold Survey, which is produced by London-based GFMS Limited and provides a wealth of statistics on the main gold trading, producing and consuming countries, in addition to in-depth analyses of market trends and ...  >>MORE

DME slashes margin on oil hedging deals Posted on 15/07/2009 The Dubai Mercantile Exchange (DME) will lower the margin fee it charges traders who use contracts to hedge against the risk of crude price changes. Customers trading in the physical market will be able to qualify to pay margins 35 per cent lower than previously charged as long as they can show they are using the contracts to manage risk, the DME said in a note distributed to clients on Monday. The initial margin represents an amount traders deposit with a clearing house to cover potential ...  >>MORE

Dubai to set crude oil selling price based on DME Oman Contract Posted on 24/06/2009 The Dubai Mercantile Exchange (DME) confirmed yesterday that the Dubai Department of Petroleum Affairs (DPA) will set the official monthly selling price (OSP) for the Emirate's crude oil based on a differential to the settlement price of the DME's Oman Crude Oil Futures Contract. Dubai has traditionally acted as the benchmark crude oil for Middle East producers, who price cargoes at a differential to published estimates of Dubai/Oman prices, typically set retroactively for the previous ...  >>MORE

Global pearl industry congregates at the World Pearl Forum in Dubai Posted on 18/02/2009 Leading experts from the pearl and jewellery industry yesterday gathered at the Atlantis Hotel, Palm Jumeirah for the inaugural World Pearl Forum, hosted by the Dubai Pearl Exchange, a subsidiary of the Dubai Multi Commodities Centre (DMCC). The event is being held under the patronage of HRH Princess Haya Bint Al Hussein, wife of HH Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. In a private meeting with Sultan Ahmed Bin Sulayem, ...  >>MORE

Dubai gold trade up 53% to US$29bn Posted on 10/02/2009 Gold trade through Dubai rose 53 per cent to US$29 billion (Dh106bn) in 2008 against US$19bn in the previous year with India and Switzerland topping the list of the emirate's export partners. Gold exports from Dubai reached 371 tonnes in 2008, an increase of 29 per cent compared to 287 tonnes in the previous year, according to statistics released by Dubai Multi Commodities Centre (DMCC). For the 12 months ending December 31, 2008, about 674 tonnes of gold was imported into Dubai, up 21 per ...  >>MORE

Commodity price index drop in Abu Dhabi: Abu Dhabi Statistics Centre Posted on 08/02/2009 Commodity price index dropped at the border points last January compared to December, said a report issued by the Abu Dhabi Statistical Centre yesterday. It added that the basic commodities, which dropped amounted to 43.2 per cent in the commodity list, while stable commodities stood at 37.3 per cent. The rest of commodities soared slightly. The centre said the commodity price index aims at creating awareness among consumers and competitive price environment in favour of consumers. It added ...  >>MORE

DGCX Euro Futures hits record daily high Posted on 07/02/2009 Euro Futures volume recorded a daily high on Dubai Gold and Commodities Exchange (DGCX) reaching 2,963 contracts, valued at US$191.51m - for the first time in its three-year history. February 4th was the busiest day for Euro Futures on DGCX as trades accounted for 75% of the Exchange's total daily volume, demonstrating the growing importance of currencies in its product range. The previous high for DGCX Euro Futures was 1,748 contracts, valued at US$138.18m in July 2008. In the past ...  >>MORE

Emarat slashes diesel prices again Posted on 30/12/2008 Emirates General Petroleum Corporation (Emarat) announced yesterday a second cut in diesel prices within a fortnight. From tomorrow, the diesel will cost Dh 11.35 a gallon instead of Dh 12.35 at all Emarat stations in Dubai and northern emirates, an official said on Monday. This is the 12th time Emarat reduces the diesel prices within the last few months. Hussain Kazim, Emarat's Corporate Communications Manager, said the move was taken after Emarat reviewed the developments and changes in oil ...  >>MORE

Emarat to slash diesel price Posted on 16/12/2008 Emirates General Petroleum Corporation (Emarat) will cut diesel price by Dh 1 per gallon from Thursday. Instead of the present Dh 13.35, a gallon of diesel will be sold at Dh 12.35 at all the Emarat filling stations in Dubai and northern emirates. Diesel will cost Dh12.35 a gallon instead of Dh13.35 at Emarat stations in Dubai and northern emirates from Thursday. Emarat's Corporate Communications Manager Hussain Kazim said the new price is introduced in the light of the fall in oil prices ...  >>MORE

DME announces half a million contracts traded since launch Posted on 04/12/2008 The Dubai Mercantile Exchange Limited (DME) announced today that more than 500,000 lots of its benchmark DME Oman Crude Oil Futures Contract have traded since the launch of the Middle East's premier energy futures and commodities exchange on 1 June 2007. At the close of trading on 2nd December 2008, the DME Oman Crude Oil Futures Contract had traded a total of 500, 495 contracts, equivalent to 500.495 million barrels of oil. Making the announcement, Ahmad Sharaf, Chairman of the DME said: ...  >>MORE

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