Dubai’s DMCC launches gaming centre to cash in on $1.8bln gaming industry

Dubai Multi Commodities Centre (DMCC) has launched a its own gaming centre to tap into the region’s AED 1.8 billion gaming industry, which is expected to reach $5 billion by 2025. DMCC, located in Jumeirah Lake Towers (JLT), said it is currently home to 50 gaming companies, including developers and producers, as well as e-sports […]

ARIA Commodities announces $42mln investment projects in Hamriyah Free Zone

ARIA Commodities, the market specialist in the field of asphalt and distillates and storage infrastructure development, has announced it will invest a total of AED154 million in the construction of four plants in the Hamriyah Free Zone, including a Bitumen Plant, a Refinery, a Tire Cycling Plant, and a Storage Terminal. ARIA has also announced […]

Emirates Global Aluminium to produce silicon metal in UAE

  Emirates Global Aluminium (EGA), the largest industrial company in the UAE outside oil and gas, has announced that the company is to develop a project to manufacture silicon metal in the UAE, securing supplies of a key raw material for ‘premium aluminium’. This will unlock the potential new industries in the UAE in line […]

UAE: Gold prices rise as US dollar weakens

  In the UAE, 24K gold price rose Dh0.75 per gram at the opening of the market on Monday to trade at Dh224.5 per gram as compared to last week’s close of Dh223.75. Among the other variants of the yellow metal, 22K opened at Dh211.0 per gram, 21K at Dh201.25 and 18K at Dh172.5. “The […]

DGCX sees strong activity in April; records $12.3bln trade

Dubai Gold and Commodities Exchange (DGCX) said significant geo-political events, rising oil prices and inflation, as well as anticipated hikes in interest rates continued to drive its strong trading activity in April. The group recorded a high monthly Average Open Interest (AOI) of 123,368 contracts – and registered trades worth $12.31 billion. Activity for the […]