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‘Wadeem’ sold out for $1.49bn

This is the highest Abu Dhabi real-estate release to date.

Tesla Q2 sales down 13.5%

Shares rally after the disclosure, better than some forecasts.

TomTom cuts 300 jobs

The firm said it was realigning its organization as it embraces AI.

Aldar nets $953m in sales at Fahid

Aldar said 42 percent of the buyers are under the age of 45.

Qualcomm to Alphawave for $2.4 bn

The deal makes Alphawave the latest tech company to depart London.

To give fillip to key sectors, UAE Central Bank doles out $12 billion in credit in 2020

     

    • The credit is intended to give a boost to sectors critical to the overall economy of the United Arab Emirates

    • The transport, storage, communication and real estate among the sectors receiving credit

     

    In order to give a boost to sectors critical to the overall economy of the United Arab Emirates, the transport, storage, communication and real  estate sectors received AED44.1 billion in credit facilities in 2020, according to statistics revealed by the Central Bank of the UAE.

    Proving to be a catalyst for economic growth despite the global slowdown, the transport, storage and communications sectors played a key role in ensuring sustainable food supply chain movements in times of crisis, and received AED27.7 bn in loans last year, 48.6 percent up from 2019, which brought to AED85 bn the cumulative loan volume these sectors received by the end of last year, reported WAM.

    Real estate and construction platforms received AED16.4 bn in 2020, 5.3 percent up from 2019, bringing to AED328 bn the cumulative loan volume received by this sector by the end of last year.