Author: chadgazette.com
Dubai Electricity and Water Authority (DEWA) is participating at Expo 2020 Dubai with a large pavilion, characterized by a contemporary design that aligns with DEWA’s role as the Official Sustainable Energy Partner of Expo 2020 Dubai. “DEWA’s pavilion at Expo 2020 Dubai provides a unique experience for visitors. It highlights DEWA’s innovative projects and initiatives, especially in renewable and clean energy and using the Fourth Industrial Revolution technologies to disrupt the entire business of public utilities. DEWA intends to become the world’s first digital utility to use autonomous systems through Digital DEWA, the digital arm of DEWA. Its objectives align…
The UAE GDP is expected to grow by 2.4 percent in 2021 and 3.8 percent in 2022 while the non-oil GDP to expand by around 4 percent in both years, according to the Financial Stability Report (FSR) released by the Central Bank of the UAE (CBUAE). The CBUAE has published its FSR for the year 2020, featuring key solvency and liquidity indicators that demonstrate the resiliency of the UAE’s financial system amid the COVID-19 pandemic.The report gives a comprehensive overview of the development of the UAE economy and financial system in 2020. CBUAE projects that the UAE economy is expected…
A link between India’s Jalgaon district in Maharashtra state and Dubai is being sought to be established with the pioneering export of uniquely fibre-rich and mineral-rich fruit from the area that has come to be known as “Jalgaon bananas”. The first consignment of 20,000 metric tonnes of Jalgaon banana, sourced from “progressive” farmers of Tandalwadi village in that district has been exported to Dubai, India’s Ministry of Commerce announced.The initiative to link Jalgaon with Dubai has been rolled out under India’s BJP-led pro-business government recently announced Agri Export Policy, which is designed to “enable farmers to get the benefits of…
The COVID-19 pandemic has exacerbated working conditions that were already very poor, and domestic workers were more vulnerable to the fallout from the pandemic because of long-standing gaps in labour and social protection, according to a new ILO report.This particularly affected the more than 60 million domestic workers in the informal economy, the report noted. Ten years after the adoption of a historic International Labour Organization (ILO) Convention that confirmed their labour rights, domestic workers are still fighting for recognition as workers and essential service providers.Working conditions for many have not improved in a decade and have been made worse…
The UAE is chairing the second Organization of Islamic Cooperation (OIC) Summit on Science and Technology on Wednesday to review the implementation of the OIC Science, Technology and Innovation Agenda 2026.The virtual summit, held under the theme “Science, Technology and Innovation: Opening New Horizons”, aims to review the implementation of the OIC 2026 agenda, reaffirms the organization’s commitment to taking all necessary measures to create and activate an environment conducive to achieving progress in the fields of science, technology and innovation among OIC member states.H.H. Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, is heading…
A delegation of the Khalifa bin Zayed Al Nahyan Foundation, in collaboration with the UAE Embassy in Beirut, has provided vouchers to 35,600 families in Northern Lebanon, as part of the UAE’s endless efforts to support friendly countries. An official from the foundation stated that the humanitarian initiative was launched upon the directives of the UAE’s leadership, to help the Lebanese people overcome their dire economic conditions. The official added that after consultations with the UAE Embassy in Beirut, the foundation decided to provide vouchers instead of food parcels, to enable beneficiaries to choose their preferred food supplies.Fahad Al Kaabi,…
The European Championship game between Denmark and Finland was halted briefly on Saturday after Christian Eriksen required urgent medical attention on the field near the end of the first half. He was given treatment for about ten minutes after collapsing on the field itself before being carried off on a stretcher. Eriksen was transferred to the hospital and has been stabilized according to his manager and a tweet by UEFA on Christian Eriksen’s condition. UEFA then announced the game had been suspended due to a medical emergency.Eriksen had just played a short pass when he fell flat out, face-forward onto…
The Central Bank of the UAE (CBUAE) has signed a Memorandum of Understanding (MoU) with the Central Bank of Egypt (CBE) to strengthen supervisory cooperation. The MoU outlines the mechanisms of information exchange to facilitate the performance of their supervisory and financial stability mandates.The MoU establishes the cooperation mechanisms on licensing, the ownership structure of Licensed Financial Institutions (LFIs), authorization of acquisitions, examinations of LFIs, information exchange and the necessary approvals for licensing requests. Central banks will inform each other of any significant changes in the regulatory requirements of their jurisdictions.The banks have also agreed to cooperate in executing their…
Shayne Nelson, Group CEO of Emirates NBD, rang the market-opening bell at Nasdaq Dubai to celebrate the listing of a US$750 million bond. The listing of this additional Tier 1 Capital bond reinforces Emirates NBD’s position as the largest financial services bond issuer on Nasdaq Dubai through seven listings with a total value of US$5.1 billion.The US$750 million perpetual bond pays a coupon of 4.25 percent, the lowest pricing for a conventional Tier 1 bond from the UAE, and the second lowest from the Middle East. The issuance was 2.3 times oversubscribed with a strong demand from the region. 64…
H.H. Sheikh Hamdan bin Zayed Al Nahyan, Ruler’s Representative in Al Dhafra Region, and Chairman of the Board of Directors of the Environment Agency – Abu Dhabi (EAD), has launched the largest coral reef rehabilitation project in the region, including more than one million colonies of coral reef through a replanting program, with the aim of increasing the emirate’s total coral reef area. The launch coincides with the World Oceans Day, which falls on June 8 of each year, and comes within the framework of a comprehensive plan developed by the Agency to preserve this important ecosystem and ensure its…