Expat remittances from the UAE reached nearly AED 40 billion during the last three months of 2018.
That's a 7.7 per cent drop compared to the same period in 2017.
According to the Central Bank, the bulk of the funds were sent to India, Pakistan, Philippines and the US.
More than 75 per cent of the amount was transferred through money exchange companies and the rest through banks.
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.
