President Joe Biden’s recently unveiled budget marks a new era in US economic policy making. Decades of trickle-down tax cuts are out the window; Biden is betting that trickle-up economics will deliver the kind of sustained and equitable growth we all want. But that’s a dangerously short-sighted strategy that in the long term will create far more stagnation than a ...

ABU DHABI / WAM HH 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), launched the largest coral reef rehabilitation project in the region, including more than one million colonies of coral reef through a replanting programme, with the aim of increasing ...

ABU DHABI / WAM Abu Dhabi is accelerating the growth of the Culture and Creative Industries (CCI) through an AED30+ billion investment strategy that sees the Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi) cements its leadership position as the custodian of all the multidisciplinary sectors within the CCI. The culture and creative industries are key drivers ...

ABU DHABI / WAM The UAE has strongly condemned the Iran-backed Houthi terrorist militias’ targeting of a fuel station in the Yemeni governorate of Marib with missiles and booby-trapped aircraft, which resulted in several deaths and injuries to innocent civilians, including children. In a statement released by the Ministry of Foreign Affairs and International Cooperation (MoFAIC), the UAE reiterated that ...

ABU DHABI / WAM The Abu Dhabi Securities Exchange (ADX) on Tuesday announced the listing of the bonds of the Emirates Telecommunication Group company (Etisalat) under the issuer’s medium-term note programme with a total amount of Euro1 billion (AED 4.47 billion) in two tranches, starting June 14. The listing of bonds in two tranches is subject to Securities and Commodities ...

Dubai / WAM Agri-tech startup Desert Control is ready to launch commercial rollout of liquid natural clay (LNC) — an innovation that turns deserts into fertile land — after joining the alumni network of in5, an enabling platform for tech, media and design entrepreneurs in Dubai. The company is the latest in5 graduate to leave the business incubator and pursue ...

DUBAI / WAM Dubai’s Knowledge and Human Development Authority (KHDA) announced today that ten new schools are set to open in Dubai in the 2021-22 academic year. An additional 14,671 new seats will be added to Dubai’s education landscape with the opening of the new schools, according to new data released by the Authority. Mohammed Darwish, CEO of Permits and ...

ABU DHABI / WAM Air Arabia Abu Dhabi has announced the introduction of a new service to Yerevan, the capital city of Armenia with direct flights from Abu Dhabi starting on July 13, the new route will become the airline’s 12th destination from Abu Dhabi. Around three hours flight time from the UAE, Armenia’s diverse landscape comprises mountains, forests, lakes ...

Abu Dhabi / WAM Emirates Development Bank (EDB), a key financial enabler of the country’s economic diversification and industrial transformation agenda, has entered into a Memorandum of Understanding (MoU) with Rakbank on Credit Guarantee and Co-lending programmes for SMEs in the UAE. Under the agreement, Rakbank can offer up to AED10 million financing to small and medium-sized enterprises (SMEs), and ...

Dubai / WAM Etihad Credit Insurance (ECI) and the Kenya National Chamber of Commerce and Industry (KNCCI) have entered into a strategic partnership to boost economic cooperation between the UAE and Kenya by stimulating international trade and investment flows, as well as supporting the business communities in the two countries during the post-pandemic era. The alliance was forged in the ...