Spot gold was trading at $2,384.14 per ounce at 9.25 am UAE time, up 0.17 per cent
The UAE has announced the launch of a new railway project. The project marks the first in the UAE’s next 50 years, after the country marked its Golden Jubilee on December 2.
According to a video tweeted by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, the UAE Railway Programme will carry over 36.5 million passengers a year. It will connect 11 cities and regions in the UAE.
Launched with an investment of Dh50 billion, it is expected to yield returns of over Dh200 billion.
“The project reinforces the principles of the 50, where we emphasised that our national priority is the economy and development and establishing the UAE as one economic destination. We are proud to start the UAE's new 50 with this project. The future is greater and more beautiful,” Sheikh Mohammed tweeted.
The project captures the spirit of the Union, he added.
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Spot gold was trading at $2,384.14 per ounce at 9.25 am UAE time, up 0.17 per cent
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