Residents with any information have been urged to contact the concerned authority
emergencies8 hours ago
He said the debt problems of the emirate of Dubai have been taken care of, which shows that the country is united both politically and economically and that the leadership is committed to dealing with all the negative impacts of the global crisis.
“I believe the (global) crisis will be behind us once the United States recovers and we believe the United States is recovering, which will reflect on other countries,” he told newswire Reuters in an interview during his trip to the Palestinian city of Nablus.
The dollar jumped to a two-month high against the euro on Friday as positive US economic data boosted the odds that the Federal Reserve will begin the process of lifting interest rates soon. Analysts said the dollar’s gains were driven by the possibility that the Fed, reacting to more vigorous US economic activity, will raise interest rates to curb inflation, thereby increasing the appeal of the US unit. US retail spending rose 1.3 percent in November, according to government data that offered fresh optimism for the troubled American consumer going into the critical holiday shopping period.
The Commerce Department report on retail sales, seen as a key to renewed economic growth, was much stronger than analyst expectations for a 0.6 percent rise. Investors also took heart from the University of Michigan consumer confidence index, which registered a rise in December that beat analyst expectations at 73.4.
“The economic crisis in Dubai is over,” Shaikh Abdullah said, adding that the UAE government was “committed to dealing with the effects of the global crisis” for all member emirates. He said support from the federal government “is proof that the UAE is united politically and economically. It is also proof that UAE remains committed towards local government to deal with effects of the global economic crisis.”
The Government of Dubai last Monday announced that it would pay off $4.1 billion in debt repayments due on an Islamic bond of property developer Nakheel. It said that the Government of Abu Dhabi has agreed to provide $10 billion to support its plans to manage the debt of its flagship conglomerate Dubai World. Financial markets in the UAE and across the world cheered the move. Concerns over Dubai’s debt have since eased.
Residents with any information have been urged to contact the concerned authority
emergencies8 hours ago
Northeastern University in Boston says the action was taken after some protesters resorted to virulent anti-Semitic slurs
world9 hours ago
The church has been built on 4.37 acres of land, and stands opposite the BAPS Hindu temple
uae9 hours ago
A detailed guide on where to apply, the steps involved, and criteria for eligibility
uae9 hours ago
The Emirates called for strengthening the international humanitarian response and providing urgent relief to those in need
mena10 hours ago
Photonics is the study of light and has several applications including LED, VR, holograms, high-speed internet and solar panels among other things
uae10 hours ago
A delegation from Egypt arrived in Israel on Friday hoping to revive the truce negotiations
mena10 hours ago
The decision aims to protect the safety and security of pilgrims
gulf11 hours ago