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Tag - UAE ECONOMY

Renewable energy and green economy as the two main driving forces will lead the United Arab Emirates to "sustainable and green recovery," a senior official told Emirates News Agency, WAM.

Japan’s imports of crude oil from the UAE amounted to almost a third of its oil imports at 32 percent, or 22.6 million barrels, data from Agency for Natural Resources and Energy in Tokyo showed.

By integrating its recent acquisitions Unifeeder and Feedertech, DP World has created a feedering and shortsea network serving hundreds of ports across the globe.

The group recorded an increase in cashless transactions when compared to cash payments during the same period.

The Central Bank of the UAE, CBUAE, has projected the recovery of economic activity to commence in the second half of the year.

In a statement by the bank on Monday, this deal represents the first Green Bond issuance by a MENA issuer denominated in Hong Kong Dollars, HKD, and the first Green Bond in HKD by an offshore financial institution.

The UAE’s federal export credit company, Etihad Credit Insurance, ECI, has reaffirmed its commitment to support companies operating in the country in order to help them recover from the implications of COVID-19.

Sultan bin Saeed Al Mansouri, Minister of Economy, and Sarah bint Yousif Al Amiri, Minister of State for Advanced Sciences, discussed ways of enhancing the joint cooperation between the two ministries, and relevant federal and local government authorities

The total number of business licences issued in the UAE in May 2020 amounted to 648,684, an increase of 1,035 licences from those recorded at the end of April 2020, as per statistics from the National Economic Register.

The Federal Tax Authority, FTA, has issued a decision to postpone the implementation of the ban on supplying, transferring, storing, and possession of water pipe tobacco -(‘mu’assel’) and electrically heated cigarettes in the UAE that do not carry digital tax stamps until 1st January 2021.

KPMG recently released the results of its fifth edition of the ‘GCC listed banks’ report, which analyses the published results of listed commercial banks across the region for the year ended 31st December 2019.

Etisalat Group announced on Wednesday the resignation of Saleh Al Abdooli as the group's Chief Executive Officer.

The United Arab Emirates has underscored its commitment to upholding the rights of all workers in the country and ensuring their health and safety in light of the COVID-19 pandemic.

H E Younis Haji Al Khoori, Undersecretary of MoF and Chairman of the Council chaired the meeting, alongside Saeed Rashid Al Yateem, Assistant Undersecretary of Resources and Budget Sector and Vice-President of the Council.

The Central Bank of the UAE, CBUAE, endorses banks’ progressive steps to support customers affected by the COVID-19 pandemic. To date, 77 percent is already drawn-down from the AED 50 billion liquidity facility within the Targeted Economic Support Scheme,

H.H. Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, stated that His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, is always capable of turning challenges into opportunities.

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