ABU DHABI, A high-level UAE delegation headed by Abdullah bin Touq Al Marri, Minister of Economy, will be visiting the Kingdom of Morocco tomorrow to explore prospects for enhanced cooperation in the next phase.The meetings will also help explore promi…
UAE Pension Authority explains salary contributions, end-of-service gratuity calculations
ABU DHABI, The General Pension and Social Security Authority (GPSSA) announced today that pension contributions paid monthly to the authority on behalf of the insured (contributor) by an entity/company are calculated according to the individual’s contr…
Ahmed bin Saeed meets with President and CEO of Marsh
DUBAI, H.H. Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Civil Aviation Authority and Chairman and Chief Executive of Emirates Airline and Group, today met with Martin South, President and CEO of Marsh, a leading global insurance broker and ris…
MoHRE announces Mid-Day Break from 15th June to 15th September
ABU DHABI, The Ministry of Human Resources and Emiratisation (MoHRE) has announced the start of Mid-Day Break for labourers at project and construction sites from 12:30 until 15:00 from 15th June to 15th September 2022.Mohsen Al Nassi, Acting Assistant…
UAE secures 32.1 percent of Japan’s crude oil needs in April
TOKYO, Japan’s imports of crude oil from the UAE reached 28.08 million barrels in April 2022, according to data from the Agency for Natural Resources and Energy in Tokyo.The agency, part of the Japanese Ministry of Economy, Trade and Industry, reported…
FAB offers ADGM registered entities preferential banking services
ABU DHABI, Abu Dhabi Global Market (ADGM) and First Abu Dhabi Bank (FAB) have signed a Memorandum of Understanding to further support the growth needs of the commercial and financial community in Abu Dhabi.The MoU aims to increase collaboration between…
OPEC daily basket price stands at $120.16 a barrel Tuesday
VIENNA, The price of OPEC basket of thirteen crudes stood at US$120.16 a barrel on Tuesday, 7th June, compared with US$119.85 the previous day, according to OPEC Secretariat calculations.The OPEC Reference Basket of Crudes is made up of the following: …
CBUAE expects UAE’s real GDP growth to reach 4.2% next year
ABU DHABI, The Central Bank of the United Arab Emirates (CBUAE) has revised up its projections for the country’s real Gross Domestic Product (GDP) growth, which is expected to reach 4.2 percent in 2023, compared with its previous forecast of 3.3 percen…
Financial access is key driver to economic recovery, EDB CEO says
DUBAI, Ahmed Mohamed Al Naqbi, Chief Executive Officer of Emirates Development Bank (EDB), has called on the local and regional banking community to increase access to corporate finance and accelerate the UAE’s economic recovery.Speaking on the opening…
ADQ, Jordan’s Ministry of Digital Economy and Entrepreneurship launch $100 million tech fund
ABU DHABI, ADQ, an Abu Dhabi-based investment and holding company, today announced the launch of a $100 million technology-focused venture capital fund (the Fund) with the Ministry of Digital Economy and Entrepreneurship (MoDEE) of Jordan, in the prese…
ADIO’s Innovation Programme brings ANSR and Talent500 to Abu Dhabi to shape future of work
ABU DHABI, The Abu Dhabi Investment Office (ADIO) announced Wednesday individual partnerships with ANSR and Talent500 as part of its AED2 billion (US$545 million) Innovation Programme to drive innovation in high-growth areas of the economy. Under the a…
DEWA builds 3 water reservoirs worth AED550 million to enhance water security in Dubai
DUBAI, Dubai Electricity and Water Authority (DEWA) is increasing the storage capacity of desalinated water in Dubai to enhance water security. DEWA is building three water reservoirs in different parts of Dubai.The water reservoirs will include one in…