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FINANCIAL NEWS
UAE’s inflation boosts 11 percent in 11 months
20 Feb 2014
(MENAFN) UAE’s inflation rate saw a 11 percent rise in the first eleven months of 2013 on the back of the growing housing costs, according to Khaleej Times.
Rental rates for mid-range villas and apartments boosted by about 20″30 percent in the first nine months of 2013 compared to the same period of 2012.
The UAE is expected to have recorded a budget surplus in 2013.
The alternate asset management company Al Masah said: “Although 2013 figures are not yet available, in light of prioritised spending on social welfare and development, the UAE”s fiscal surplus is likely to have dipped a bit from around 8.6 per cent of GDP recorded in 2012. For 2014, a federal budget of $12.5 billion was approved, with a majority of it allocated to the health sector, followed by expenses for government services and housing development projects. The UAE is estimated to have a budget surplus of 6.9 per cent of GDP in 2013 and 6.6 per cent of GDP in 2014.”
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BBK launches the largest-ever Al Hayrat Prizes, offering BD 5 million to over 2,000 winners
12 May 2025
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04 May 2025
BBK offers exclusive Mortgage Loans for luxury villas and apartments on Reef Island
30 Apr 2025
BBK discloses its financial results for the first quarter ended 31st March 2025
25 Mar 2025
BBK’s General Assembly Approves 35% Cash Dividend Distribution to Shareholders
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