The Emirate of Ras Al Khaimah has seen a 14 per cent increase in non-oil foreign trade in 2021, surging from AED 14.78 billion in 2020 to AED 16.83 billion in 2021, according to the RAK Centre for Statistics and Studies.
Exports accounted for the largest portion of the emirate's total non-oil foreign trade, reaching 57 per cent, at AED 9.539 billion compared to 2020, followed by imports, which accounted for 35 per cent of the total, amounting to AED 5.97 billion, compared to AED 5.36 billion in 2020, followed by re-exports at 8 per cent of the total.
Asian non-Arab countries were ranked first in terms of trade exchange volume in 2021, with their total reaching AED 6.25 billion (36 per cent of the emirate's total trade volume), followed by GCC countries in second place with AED 2.98 billion (18 per cent), then Europe with AED 2.49 billion (15 percent), Arab countries with AED 2.14 billion (13 per cent), the Americas with AED 1.24 billion (7.35 per cent), and finally African non-Arab countries with AED 1.21 billion (7 per cent).
Changpeng Zhao, the former chief executive of Binance has been sentenced to four months in prison after pleading guilty to violating US laws against money laundering at the world's largest cryptocurrency exchange.
Emirates Airline has announced significant changes to its pilot recruitment strategy, which includes higher salaries, new roles and a radical change to eligibility.
Supermarket chain Spinneys has announced its decision to increase the number of shares allocated to the UAE Retail Offering of its IPO due to high demand.
The disbursement of $1.1 billion by the International Monetary Fund (IMF) will help Pakistan achieve greater economic stability, Prime Minister Shehbaz Sharif said on Tuesday, amid discussions for a new loan programme.