News

  Colombo / AFP The IMF on Saturday released the first tranche of a $1.5 billion bailout for Sri Lanka, which is reeling after a government spending spree and facing a balance of payments crisis. The International Monetary Fund said the formal approval of a 36-month loan under its Extended Fund Facility (EFF) will also help Sri Lanka secure another ...

  Hong Kong / Hong Kong Hong Kong railway operator MTR Corp. increased the size of a two-part loan to about HK$25 billion ($3.2 billion), after the city gave the green light for it to resume construction on a high-speed rail link to China earlier this year, people familiar with the matter said. MTR, three-quarters owned by the government, lifted ...

Beijing / Hong Kong China is approaching global economic organizations including the International Monetary Fund and World Bank to establish an annual meeting that would offer the nation a stronger policy voice on the world economic stage, according to a person familiar with the talks. The Ministry of Commerce and other agencies are leading discussions under the guidance of the ...

  Dubai / Emirates Business Dubai Now, Smart Dubai Government’s innovative app that features more than 50 smart services provided by 22 government entities, has won the ‘Best Government Mobile App of the Year’ category at the ‘.GOV Awards 2016’ held recently in Dubai. The award-winning app offers customers a set of service packages built to meet their needs and ...

  Dubai / Emirates Business The Department of Economic Development (DED) in Dubai has launched ‘Happiness Lounges’ in three of its service centres, creating an exceptional environment of high quality services and world-class efficiencies to customers visiting these centres for transactions related to business registration and licensing. The initiative follows the order of His Highness Sheikh Hamdan Bin Mohammed Bin ...

  Abu Dhabi / Emirates Business The Ministry of Finance (MoF), in collaboration with the UN office in UAE, recently organised a workshop on the definition and measurement of happiness; to reflect its commitment to the directives of the federal government. The workshop showcased results of the 2016 Happiness Report, government plans and programmes that enhance levels of happiness and ...

  Emirates Business Gulf Medical University (GMU) established in 1998, the most sought-after private medical university in the region located at Ajman, UAE recently announced that it had started inviting applications for the upcoming academic year. As soon as the announcement was made, the Admissions Department of GMU started receiving a flood of applications for the different medical courses conducted ...

  Abu Dhabi / Emirates Business The issues of obesity and weight loss were the focus of AlMansoori Specialized Engineering’s annual health day, held at the Hilton Hotel, Abu Dhabi, recently. About 250 people attended the event, organised by the leading oilfield services company in the Middle East. Speakers discussed topics including Obesity 101, the impact of weight gain on ...

  RITIKA SHARMA / Emirates Business As green technology and dependence on renewables become more than just a choice for the world, UAE emerges as the torch-bearer of the global march towards a ‘green’ future. Committed to diversify its economy, UAE is heavily investing in its green initiatives, thereby emerging as a trendsetter for the nations that aspire to reduce ...

  Emirates Business His Excellency Dr. Thani Ahmed Alzeyoudi, UAE Minister of Climate Change and Environment, inaugurated the nation’s celebrations of the United Nations’ World Environment Day 2016, themed ‘Go Wild for Life’, organised for the sixth consecutive year by the Ministry of Climate Change and Environment in collaboration with Dubai Silicon Oasis Authority. “The UAE enjoys a rich wildlife ...