The UAE's exports of oil to Japan increased significantly in March, making it the top provider of crude to the Asian country.
Deliveries reached 34.11 million barrels, or 38.3 percent of the total brought in, compared to 24.67 million barrels in February, or 31.4 percent, according to data from the Agency for Natural Resources and Energy, that belongs to Japan's Ministry of Economy, Trade and Industry.
Their total oil imports in March amounted to 89.15 million barrels, compared to 78.51 million barrels in February.
The figures represent the quantities of oil that reached Japanese refineries, storage tanks and warehouses.
About a third of Japan's energy needs come from the fossil fuel, meaning the UAE's deliveries are of crucial importance as the country continues to bounce back from the Covid-19 pandemic.
ADNOC Distribution has reported a net profit growing by 15.6 per cent year-on-year to $579 million in the first nine months, with an EBITDA increase of 12 per cent to $885 million, its strongest performance since listing in 2017.
TECOM Group has announced a 20 per cent revenue growth reaching more than AED 2.1 billion, with a net profit exceeding AED 1.1 billion, marking an 18 per cent year-on-year increase.
The Dubai Financial Market (DFM) has announced its consolidated financial results for the nine months ending September 30, reporting a net profit before tax of AED 930.8 million, an increase of 212 per cent compared to the same period in 2024.
DMCC — Dubai’s leading international business district — has announced plans to create a new Financial Centre that will anchor trade finance, fintech innovation and digital asset solutions across its 26,000-member community.
The Central Bank of the UAE (CBUAE) has decided to cut the Base Rate applicable to the Overnight Deposit Facility (ODF) by 25 basis points, from 4.15 per cent to 3.90 per cent, effective from Thursday, October 30.