The UAE’s GDP is expected to contract by 4.6% y/y in 2020 (1.4% growth prior … “In the meantime, the General Reserve Fund (GRF), part of Kuwait’s sovereign wealth fund, continues to finance …
( read original story …)
UAE’s Dana Gas pledges proceeds of Egypt sale to repay sukuk
Dana Gas DANA.AD plans to use the proceeds from its Egyptian assets, which the United Arab Emirates-based firm has been trying to sell, to pay down its sukuk, an Islamic bond which is due in October.
( read original story …)
MoF Launches Upgraded Version of Smart UAE Gate for GFS Reports System
As part of its ongoing efforts to enhance financial systems, global competitiveness of the United Arab Emirates, and to adhere to the updated requirements of the IMF’s Government Finance Statistics …
( read original story …)
Commercial Bank of Dubai reports Dh315m first quarter net profit
Commercial Bank of Dubai (CBD) on Wednesday reported a net profit result of Dh315 million for the first quarter of 2020, down 7.3 per cent against the same period in 2019. Image Credit …
( read original story …)
Suqia UAE donates 10m water bottles to food drive
The campaign will be led by his wife Sheikha Hind bint Maktoum bin Juma Al Maktoum, Chairperson of the Board of Trustees of UAE Food Bank. The Mohammed bin Rashid Al Maktoum Global Initiatives will …
( read original story …)
CO2 GRO Inc. Announces a Commercial Evaluation Installation at a Gulf Cryo Referred UAE Lettuce Greenhouse
TORONTO, ON / ACCESSWIRE / April 22, 2020 / Toronto based CO2 GRO Inc. (“GROW”) (GROW.V)(BLONF)(Frankfurt:4021) is pleased to announce the installation of a CO2 Delivery Solutions™ Commercial …
( read original story …)
Former Indian ambassador praises UAE’s tolerance following online rise in Islamophobia
Earlier this month, technician Rakesh B. Kitturmath, chief accountant Bala Krishna Nakka and finance analyst Mitesh Udeshi were fired for similar derogatory social media posts that violated the UAE …
( read original story …)
DFM launches the first of its kind ESG Index
Following the IPO, the Government of Dubai retained the remaining 80 per cent of DFM Company through Borse Dubai Limited. www.dfm.ae Disclaimer: The contents of this press release was provided from an …
( read original story …)
U.S. dollar jumps vs Saudi riyal in forwards market as oil slumps
The U.S. dollar rose against the Saudi riyal in the forwards market on Wednesday after oil prices slumped, with Brent crude futures dropping to their lowest in more than two decades as the coronavirus …
( read original story …)
Middlesex University Dubai: Get a quality UK degree in Dubai
The Middlesex University Dubai offers a wide range of undergraduate and postgraduate programmes including Foundation, Business Management, Marketing, Accounting and Finance, Tourism, Computer …
( read original story …)
Saudi finance minister set to provide update on Kingdom’s economy
RIYADH: Mohammed Al-Jadaan, the minister of finance and acting minister of economy and planning is set to discuss the latest economic developments in Saudi Arabia in light of the challenges facing the …
( read original story …)
UAE’s FTA extends deadline for VAT filings, payments
The UAE’s Federal Tax Authority (FTA) has given an alternative date – ‘on an exceptional basis’ – of May 28 for businesses to file their VAT returns and pay any due tax in light of restrictions …
( read original story …)
UAE urges against food export restrictions at G20 agricultural meeting
The United Arab Emirates Minister of State for Food Security urged countries to work together to maintain global food supply chains as coronavirus lockdowns disrupt the food and agriculture industry.
( read original story …)
Dubai paperless strategy: 14 Dubai Government entities cut their paper consumption by 64.9% to date.
This group includes Dubai Corporation for Ambulance Services, Islamic Affairs and Charitable Activities Department, Dubai Media Inc., Department of Finance Dubai, Dubai Government Human Resources …
( read original story …)
Combating coronavirus: UAE fights Covid-19 with over 100 incentives in 45 days
The Abu Dhabi Government launched several financial incentives that aim to support the community and companies, in coordination with local banks and in cooperation with the departments of Finance and …
( read original story …)
UAE banks’ required reserves up in March
This will inject liquidity of about AED61 billion, which can be used to support banks’ lending to the UAE economy and their liquidity management. The CBUAE has further extended the duration of the …
( read original story …)
UAE banks to consider expats’ expired visa, Emirates ID for transactions
All the visas, Emirates IDs and entry permits of the UAE residents expired after March 1, 2020 are valid for bank transactions. The UAE Central Bank has instructed all the banks in the country to …
( read original story …)