New proposals would raise the capital requirements for the largest and most important banks by 9%, down from 19%
Despite the rains and the overcast conditions, outbound and inbound flights at the Dubai International Airport and the Sharjah International Airport remained unaffected.
The showers, which began in the wee hours yesterday and continued in brief spells till late in the afternoon, slowed vehicular traffic on the road worsening the congestion during the morning and afternoon rush hours.
The rains created bad driving conditions on the roads leading to numerous minor accidents. A total of 684 traffic accidents were reported in Dubai yesterday until 8pm last night. According to the Police all accidents were minor and did not result in any casualties. They included seven accidents where the vehicles overturned.
Numerous minor to moderate accidents were reported from Sharjah, but the Sharjah Traffic Police declined to confirm the reports.
Brigadier Saeed Humaid, Director of Police Stations in Ajman Police, said that as many as 10 minor accidents were reported inside Ajman. He said that the accidents were minor and no one was injured.
Khaleej Times received calls from residents of various localities in Dubai and Sharjah, who said their houses were affected by flooding.
A resident of a prime property in Dubai's upscale residential area expressed shock at the leaking roof of her posh apartment and expressed concern about the quality of the construction. Residents of another posh gated residential compound called up the newspaper to inform of flooding due to rainwater.
Meanwhile, several tennis matches which were scheduled yesterday at the Dubai Tennis Stadium as part of the DDF Women's Open Tennis Championship were postponed several times during the day. At 6pm a match between a French and a Russian player began but when heavy rain started pouring the match was cancelled in the second half, to be resumed today at 10am.
According to the 4pm update from the weather office, Sharjah received around 8.6 millimetres of rainfall while Dubai recorded 14 mm, the highest in a day this winter. The forecasts for today (24.2) and tomorrow suggest more rains across the country.
New proposals would raise the capital requirements for the largest and most important banks by 9%, down from 19%
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