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Month: May 2018

Posted on 25/05/2018

Abu Dhabi helping eradicate global poverty

ABU DHABI – The Abu Dhabi Fund for Development (ADFD) spent Dh1.4 billion in 2017 in its bid to help eradicate global poverty and achieve sustainable development in developing countries. In its latest report, ADFD said the Dh1.4 billion it spent last …
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Posted on 25/05/2018

Pakistan hires UAE banks to raise $200m loan

The government of Pakistan is raising a $200 million syndicated loan with three UAE banks, banking sources familiar with the matter said, as Islamabad clings to external funding to stave off the pressure of balance payments. The loan, with a one-year …
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Posted on 25/05/2018

UAE Central Bank gold reserves jump 6.6% in value

The value of the UAE Central Bank’s reserves of gold bars rose to around Dh1.72 billion during the first quarter of 2018, a growth of 6.6 per cent from Dh1.099b during the corresponding period 2017. Statistics issued by the bank showed that its reserves …
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Posted on 25/05/2018

Central Bank of UAE Publishes 2017 Financial Stability Report

The Central Bank of the UAE (CBUAE) today publishes the Financial Stability report for the year 2017. The Financial Stability Report provides information on the strengths and vulnerabilities of the UAE financial system and the regulatory and policy …
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Posted on 25/05/2018

Dubai-bound passenger held at Delhi airport for smuggling forex

NEW DELHI: A Dubai-bound passenger was arrested by Customs officials at the Delhi airport for allegedly trying to smuggle out foreign currency worth Rs 2.94 crore, the Customs department said today. The accused was intercepted when he was completing …
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Posted on 25/05/2018

Dubai SME licenses first business incubator

Dubai SME, the agency of the Department of Economic Development (DED) in Dubai mandated to develop the small and medium enterprise (SME) sector, has announced the licensing of the first business incubator in Dubai. The milestone follows the introduction of …
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Posted on 25/05/2018

Cyclone Mekunu will not reach UAE: National Centre of Meteorology

Dubai: The National Centre of Meteorology said today that the tropical cyclone Mekunu centre is located approximately 475km from Salalah, Oman, and 190km from Socotra Island, currently moving with a speed of 10km/h towards the north. “The estimated wind …
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Posted on 25/05/2018

Dubai launches world’s first virtual charity foundation

“As part of its participation in the Dubai 10X initiative, the Department has developed interactive smart platforms using advanced artificial intelligence technologies to enhance philanthropy and create a new method for delivering fatwas. “These projects …
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Posted on 25/05/2018

Dubai Municipality seizes 294 tonnes of rotting food

Dubai: Dubai Municipality (DM) announced today that it has confiscated around 294 tonnes of food products found unfit for human consumption. DM said that unlicensed vendors were apprehended while trying to sell the putrid food to people in worker …
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Posted on 24/05/2018

77 distinguished car numbers on offer in Sharjah online auction

Sharjah: Sharjah Police, in cooperation with Emirates Auction, on Thursday launched an online auction offering 77 distinguished car number plates of category 3. Registration to take part in the auction, which began at 6pm on Thursday, will continue until …
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Posted on 24/05/2018

UAE Signs Agreement for the Avoidance of Double Taxation and Prevention of Tax Evasion With Saudi Arabia

The UAE, represented by the Ministry of Finance (MoF), signed an agreement for the Avoidance of Double Taxation and Prevention of Tax Evasion with respect to taxes on income and capital, with Saudi Arabia yesterday. The signing took place at the …
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Posted on 24/05/2018

Emirati woman cyclist run over, killed while training in Dubai

Dubai: An Emirati woman cyclist died in a run-over accident while she was training in Meydan area, Dubai Police said on Thursday. Mizna Abbullah Ali, a member of Al Wathba cyclist team, was training to participate in the NAS Sport Tournament next week when …
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Posted on 24/05/2018

UAE and Saudi avoid tax evasion under new agreement

The signing took place at the headquarters of the Saudi Ministry of Finance in Jeddah. The agreement reflects the UAE’s keenness to strengthen cooperation in tax-related matters and enhance economic relations with its neighbour. HE Obaid Humaid Al Tayer …
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Posted on 24/05/2018

Consumption of this cake in UAE goes up 250% in Ramadan

Dubai: Retailers in UAE are seeing an increase in demand for sweets during Ramadan, but there’s one particular dessert that’s proven to be the best seller at this time of year. Operators of supermarkets told Gulf News that consumption of honey cake …
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Posted on 24/05/2018

UAE asks residents to avoid unnecessary trips to Nipah virus hit Kerala

Dubai: The UAE on Thursday asked travellers to postpone unnecessary trips to Kerala till the Nipah virus outbreak in the south Indian state becomes under control. In a media statement issued around 3pm on Thursday, the Ministry of Health and Prevention …
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Posted on 24/05/2018

DUBAI, United Arab Emirates | Cyclone Mekunu pounds Yemen island on its path to Oman

DUBAI, United Arab Emirates — Cyclone Mekunu pounded the Yemeni … There was no immediate word from Socotra, though Yemen’s pro-government SABA news agency reported that 17 people were missing after two ships capsized in the storm and three vehicles …
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Posted on 24/05/2018

Put your savings to work with offshore banking

With the low interest rate environment in the UAE meaning your savings often are not even keeping up with the real rate of inflation, banking offshore means you can enjoy significantly higher interest rates than what you’d find in UAE. Here are our …
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