he Cental Bank of UAE (CBUAE) is closely monitoring banks’ utilisation of the Targeted Economic Support Scheme (TESS) programme for the benefit of individuals, small and Medium Enterprises (SMEs) and …
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Combating coronavirus: No need to pay instalment, interest during deferred period, says Central Bank
Any interest accrued during the deferment period on the principal amount will be paid by the customer at a later date. The UAE Central Bank on Sunday said that customers affected by the Covid-19 …
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Dubai’s real estate ‘shows signs of stability in Q1’
While social distancing has created challenges for business continuity in the last two weeks, Dubai’s real estate sector has been largely unaffected in the first quarter of 2020, since the government …
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Combating coronavirus: Volunteer doctors support Dubai’s isolation facility for Indian workers
“This is a joint effort between the Dubai Health Authority, Indian community members … Dr Chithrakala said the patients have access to free WiFi and mental health support as well. “We return home …
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Sewa working on plan to ensure water supplies in Sharjah
Sharjah Electricity and Water Authority (Sewa) is developing a comprehensive plan to ensure the provision and continuity of water supplies for the emirate’s residents on par with the highest levels of …
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Turkey blocks Saudi and UAE news websites
Turkish authorities blocked Saudi and United Arab Emirates news websites on Sunday, days after the sites of Turkey’s state broadcaster and news agency were blocked in Saudi Arabia. The apparently …
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Dubai calls on Arab coders to tackle Covid-19 challenges
In a bid to encourage coders to develop solutions to tackle Covid-19 challenges, the Dubai Future Foundation (DFF … is closed and will be headed by a specialised committee comprising experts from …
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Dubai Silicon Oasis Authority announces new incentives, discounts for residents, companies
Benefits for DTEC startups The authority also approved a package of incentive measures for startups based at Dubai Technology Entrepreneur Campus (DTEC), which includes a waiver of all late payment …
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What Dubai consumers are complaining about: Electronics, e-commerce among top peeves
Dubai Economy receives 11,655 consumer complaints in Q1 2020 Total number of consumer … he is respected for his astute understanding of the local business scene.
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Abu Dhabi borrows $7bn as low oil price bite
The richest of seven sheikhdoms that make up the United Arab Emirates, Abu Dhabi sits on the bulk of the federation’s oil wealth. Qatar’s finance ministry said its own sale was oversubscribed by more …
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Abu Dhabi’s $7m bond offering draws strong investor interest
Offering was more than 6.3 times oversubscribed and order book reached in excess of $45bn A $7 billion multi-tranche international bond offering by Abu Dhabi was more than 6.3 times oversubscribed, …
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Coronavirus latest: UAE Central Bank says banks have used 30% of Covid-19 support fund
UAE infections rose to 6,781 on Sunday, with recoveries reaching 1,286 UAE banks have tapped 30 per cent of a Dh50 billion Targeted Economic Support Scheme (Tess) facility to help businesses and …
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Combating coronavirus: UAE outperforms the world with 77,550 tests per million people
The UAE has maintained its global leadership in maximising Covid-19 coronavirus tests in terms of the number of tests per 1 million people. It has also implemented precautionary measures appreciated …
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Abu Dhabi borrows $7B to counter slumping oil prices
The Emirate of Abu Dhabi said Sunday it had sold bonds worth $7 billion in the third major sale this month by Gulf sovereigns seeking to counter slumping oil prices. OPEC kingpin Saudi Arabia last …
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Abu Dhabi borrows $7 billion as low oil price bite
Abu Dhabi, which has the biggest sovereign wealth fund in the Gulf Cooperation Council (GCC), said that its offering was oversubscribed by more than six times.
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Abu Dhabi issues $7bn in multi-tranche bonds
Abu Dhabi said it has priced a $7 billion multi-tranche international bond offering as part of its medium-term strategy focused on optimising the capital structure of the emirate. In a statement today …
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Abu Dhabi Sells $7 Billion of Bonds to Counter Falling Oil Prices
The transaction contained three tranches- a $2 billion five-year tranche, a $2 billion 10-year segment, and a third tranche of $3 billion maturing after 30 years – the Abu Dhabi department of finance …
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