October 14, 2018

ABU DHABI: President His Highness Sheikh Khalifa Bin Zayed Al Nahyan issued Federal Decretal Law No. (9) of 2018 on public debt to enable the federal government to issue sovereign bonds and help the banking sector meet international liquidity rules as soon as they are issued.

In addition, the law will enable banks operating in the state to purchase government bonds in dirhams or foreign currencies, which will help them comply with Basel III requirements.

The issuance of sovereign bonds will support the central bank of the UAE role in liquidity management in the banking system. Further, the issuance of government debt securities will help benchmark the UAE Dirham yield curve and thereby deepening"...

Continue Reading >

October 2, 2018

The Smart Solutions & Services Authority (ADSSSA) recently met with the Environment Agency - Abu Dhabi (EDA) to discuss mutually beneficial projects and initiatives to improve the quality of marine water in the capital city.

The meeting was held in adherence to the directives of the Higher Committee for Enhancing Marine Water Quality to preserve and promote Abu Dhabi’s marine environment.

Both parties tackled the next steps to develop an integrated environmental system to be reviewed at the World Summit of Oceans set to be held in March 2019 in Abu Dhabi, UAE, said a statement.

The meeting was chaired by Razan Khalifa Al Mubarak, secretary general of Environment Agency"...

Continue Reading >

October 1, 2018

Fifty-nine per cent of the budget will go to education and social development,' he added.

'Citizens are top priority, and we have allocated the largest part of the budget to ensure their prosperity, health, education and security,' Sheikh Mohammed said.

The UAE has allocated 42.3 per cent of the budget for community development, 17 per cent for education and 7.3 per cent for healthcare.


Continue Reading >

September 24, 2018

DUBAI: From Dubai to Beirut to New York and Washington, D.C., Saudi National Day was celebrated outside of the Kingdom on Sunday as a show of patriotism by Saudis abroad and as a sign of friendship by countries around the world.

The Dubai airline operated a special one-off A380 service, known as EK 813 and EK 814, on Sunday to the capital city of Riyadh, touching down at King Khalid International Airport at 3:30 p.m. The return flight was scheduled to depart at 6:50 p.m.

A YouTube video from Emirates also showed crew handing out scarves embroidered with the countries’"...

Continue Reading >

September 24, 2018

Azizi Developments is considering an IPO for its hospitality and development businesses according to Mirwais Azizi.

In an exclusive interview the Azizi founder and chairman told Arabian Business: “We are waiting for the audit report at the end of the year. When this is finished we will see whether to apply.”

Azizi Developments currently has a pipeline of projects worth $12 billion and more than 200 ongoing projects across Dubai.

The developer also has plans to build the world’s"...

Continue Reading >

September 20, 2018

The Ministry of Economy announced the launch of the 'Youth Council for the Future’s Economy' initiative and the official approval of the council’s formation, under the patronage of Sultan bin Saeed Al Mansouri, Minister of Economy and Chairman of the Securities and Commodities Authority.

Al Mansouri said that the launch of the initiative is part of the vision of the Vice President, Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, to foresee the future and achieve community happiness led by the youth, who must be prepared to lead the national economy.


Continue Reading >