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.
AD first in MENA to implement 'Enhanced Transparency Framework'
The Environment Agency – Abu Dhabi, (EAD) has announced that Abu Dhabi will be the first in the Middle East and North Africa (MENA) region to implement the Enhanced Transparency Framework (ETF) on a subnational level, following last year’s national level launch by the Ministry of Climate Change and Environment (MOCCAE).
COP29 unlocks international carbon markets
The COP29 Presidency announced on Saturday the end of the decade-long wait for the conclusion of negotiations on high integrity carbon markets under Article 6 of the Paris Agreement.
Adani CFO says US charges linked to only one business contract
A US bribery indictment of Indian billionaire Gautam Adani is linked to one contract of Adani Green Energy that makes up some 10 per cent of its business, and no other firms in the conglomerate are accused of wrongdoing, the group's CFO said on Saturday.
UAE launches KYC platform for enhanced financial data
The UAE government has launched the Know Your Customer (KYC) digital platform, aimed at providing accurate, confidential data for financial transactions.
Volkswagen union signals strikes in December but talks continue
Volkswagen's union said it was gearing up for strikes across German factories from December 1 after talks over wages and unprecedented factory closures at Europe's largest carmaker failed to achieve a breakthrough on Thursday.
